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TickerAVTX
SectorBiotechnology
Mkt cap$244M
EV / EBITDAN/A
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1534120

Avalo Therapeutics, Inc.

AVTXHIGH VELOCITYFILING INTENSITY

Avalo Therapeutics, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Healthcare.

Lens

Disclosed M&A capital (2023–2025)

$400K

−75%

vs $2M in 2020–2022

Disclosed transactions

1

flat

1/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$59K
EBITDAN/A
Enterprise value$230M
EV / Revenue3901.4×
EV / EBITDAN/A
P/EN/A
Cash$16M
Total debt$1M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

0/100

Companies actively deploying disclosed capital into M&A

  • $2M disclosed buyer spend

Buyer Cadence

17/100

Buyer-side companies with recent filing activity

  • Filed within 33d
  • 208 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 32 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 32 activism filings

Pressure Watch

42/100

Issuers facing activism, governance, or control pressure

  • 32 activism filings
  • Latest activism 3y ago; discounted

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 215d stale
  • 32 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 208 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $230M
  • 10-Q 215d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $2M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
20241$400K$400KN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
20201$2M$2MN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Technology Acquisition
    25%
  • Platform
    25%
  • Bolt On
    25%
  • Talent Acquisition
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • technology_acquisition
  • platform
  • bolt_on
  • talent_acquisition
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

In February 2015, we acquired rights to CERC‑501, which was previously referred to as LY2456302 and OpRA Kappa, through an exclusive, worldwide, license from Eli Lilly and Company, or Lilly.

10-KFY2015

Avalo obtained the rights to AVTX-009, including the Lilly License Agreement and Leap Agreement, pursuant to its acquisition of AlmataBio in the first quarter of 2024

10-KFY2024

We acquired AVTX-009 in March 2024 and have focused our resources on AVTX-009 at the expense of allocating those resources to other assets.

10-KFY2024

Consideration for the Ichorion Asset Acquisition consisted of approximately 5.8 million shares of the Company’s common stock

10-KFY2018

We acquired LY3130481, which is now known as CERC-611, from Lilly in June, 2016 through an exclusive worldwide license.

10-KFY2016
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Healthcare

Market spend (2023–2025)
$195B
Market spend (2020–2022)
$253.6B
Recent vs prior
−23%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

N/AEV / EBITDA

AVTX trades at a -15.7-turn discount to the Healthcare peer median of 12.9×.

EV / Revenue
3901.4×
Net debt / EBITDA
N/A
Peer median EV / EBITDA
12.9×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
23.4×6.7×3.1×$62.8B$18B
17.2×0.9×1.9×$449.7B$28.1B
12.9×6.0×2.6×$37.2B$26.7B
11.7×0.5×2.5×$200.4B$6.4B
9.3×1.9×2.8×$76.4B$1.3B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)142026-03-23
  • 10-Q (quarterly)342025-11-06
  • 8-K (event)2082026-05-07
  • Proxy / DEF 14A242026-04-10
  • Activism (13D / DFAN / PREC)322023-06-28

Signals on file

  • elevated

    Activism on file

    2023-06-28

    32 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Avalo Therapeutics, Inc.: Issuer Brief | SE-Cluster