Avalo Therapeutics, Inc. · NASDAQ:AVTX
Avalo Therapeutics — Technical Presentation (May 2026)
24 slides from Avalo Therapeutics's technical presentation, May 5, 2026
Slide 1: Abdakibart (AVTX-009) in Moderate-to-Severe HS: Positive Topline Results from Phase 2 LOTUS
Abdakibart (AVTX-009) in Moderate-to-Severe Hidradenitis Suppurativa Positive Topline Results from the Phase 2 LOTUS Study May 2026 | AVALO THERAPEUTICS, INC. (AVTX) 1 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subje
Slide 3: Building a New Standard in HS
Building a New Standard in HS 3 HS, hidradenitis suppurativa; IL, interleukin; HiSCR, Hidradenitis Suppurativa Clinical Response. Note: The combined HiSCR50 abdakibart versus placebo analysis was performed post-hoc; Limitations exist in cross-trial comparisons across different phases of development.
Slide 4: HS is a Chronic and Debilitating Inflammatory Skin Disease
Nape of neck Breast/chest Buttocks and anus Inner thighs Groin and genitals Abdomen Armpit HS is a Chronic and Debilitating Inflammatory Skin Disease 4 Photos from Mendes-Bastos P, et al. Front Med (Lausanne). 2024;11:1403455; Ovadja ZN, et al. Brit J Dermatol. 2019;181:243-244; Cotter C, Walsh S. S
Slide 5: HS Projected to be a $10B+ Global Therapeutics Market by 2035
HS Projected to be a $10B+ Global Therapeutics Market by 20351 5 HCP, healthcare provider; HS, hidradenitis suppurativa; U.S., United States. 1. HS Market Research 2026. Avalo Data on File. Projected figures are based on management estimates and internal analyses, which rely on certain assumptions r
Slide 6: Phase 2 LOTUS Study Design
Phase 2 LOTUS Study Designed to Evaluate the Efficacy and Safety of Abdakibart Treatment in Participants with Moderate-to-Severe HS AN, abscess and inflammatory nodule; EOS, end of study; EOT, end of treatment; HiSCR, Hidradenitis Suppurativa Clinical Response; Q2W, every 2 weeks; Q4W, every 4 weeks
Slide 7: Overall Study Completion Rates were High
Overall Study Completion Rates were High 7Q2W, every 2 weeks; Q4W, every 4 weeks. 137 did not meet entry criteria 2 did not meet Baseline diary compliance requirement 10 were screen failures for other reasons 86 Placebo 83 Abdakibart 150 mg Q2W 84 Abdakibart 300 mg Q4W 70 (81.4%) Completed study dru
Slide 8: Demographic and Baseline Characteristics
Placebo N=86 150mg Q2W N=83 Abdakibart 300mg Q4W N=84 Combined N=167 All Subjects N=253 Age (years, mean) 37.7 38.4 39.0 38.7 38.4 Gender, female (%) 52.3 66.3 63.1 64.7 60.5 Race, white (%) 66.3 65.1 75.0 70.1 68.8 BMI (kg/m2, mean) 33.9 36.4 34.9 35.7 35.1 Current smoker (%) 47.7 38.6 42.9 40.7 43
Slide 9: Baseline Characteristics Across HS Trials
Abdakibart1 Lutikizumab2,3 Sonelokimab4 Povorcitinib5,6 Bimekizumab7,8 Secukinumab9 Adalimumab10 Ph2 LOTUS Ph2 Ph2 OL Bio-Naïve Ph3 VELA-1 Ph3 VELA-2 Ph2 MIRA Ph3 STOP-HS1 Ph3 STOP-HS2 Ph2 Ph3 BE HEARD I Ph3 BE HEARD II Ph2 Ph3 SUNSHINE Ph3 SUNRISE Ph3 PIONEER I Ph3 PIONEER II N 253 153 47 421 417 2
Slide 10: Primary Endpoint of HiSCR75 at Week 16 was Met
Primary Endpoint of HiSCR75 at Week 16 was Met for Each Active Dose Group and Both Groups Combined 10 25.6% 42.2% 42.9% 42.5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Placebo n=86 Abdakibart 150 mg Q2W n=83 Abdakibart 300 mg Q4W n=84 Combined Abdakibart Across Dose Arms n=167 H iS C R 7 5 R e s p o
Slide 11: Cross-Trial HiSCR75 Comparison Demonstrates Strong Efficacy
0% 10% 20% 30% 40% 50% TRIAL LOTUS Phase 2 PIONEER I Phase 3 PIONEER II Phase 3 SUNRISE Phase 3 SUNSHINE Phase 3 BE HEARD I Phase 3 BE HEARD II Phase 3 VELA-1 Phase 3 VELA-2 Phase 3 Phase 2 STOP HS-1 Phase 3 STOP HS-2 Phase 3 Sample Size Arm/Total 83/253 84/253 153/307 163/326 180/363 181/361 289/50
Slide 12: HiSCR50 Response Rates were Statistically Significant Compared to Placebo
HiSCR50 Response Rates were Statistically Significant Compared to Placebo in Both Abdakibart Arms 12 40.7% 59.0% 64.3% 61.7% 0% 10% 20% 30% 40% 50% 60% 70% Placebo n=86 Abdakibart 150 mg Q2W n=83 Abdakibart 300 mg Q4W n=84 Combined Abdakibart Across Dose Arms n=167 H iS C R 5 0 R e s p o n d e rs a
Slide 13: Cross-Trial HiSCR50 Comparison Demonstrates Strong Efficacy
0% 10% 20% 30% 40% 50% 60% 70% TRIAL LOTUS Phase 2 PIONEER I Phase 3 PIONEER II Phase 3 SUNRISE Phase 3 SUNSHINE Phase 3 BE HEARD I Phase 3 BE HEARD II Phase 3 VELA-1 Phase 3 VELA-2 Phase 3 Phase 2 STOP HS-1 Phase 3 STOP HS-2 Phase 3 Sample Size Arm/Total 83/253 84/253 153/307 163/326 180/363 181/36
Slide 14: HiSCR75 Improvement Over Placebo Seen Early
HiSCR75 Improvement Over Placebo Seen as Early as Week 4 for Both Abdakibart Treatment Groups 14 Weeks 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 2 4 6 8 10 12 14 16 H iS C R 7 5 R e s p o n d e rs b y V is it ( N R I) Placebo n=86 Abdakibart 150 mg Q2W n=83 Abdakibart 300 mg Q4W n=84 42.9%; p = 0.
Slide 15: HiSCR75 Responses Similar With and Without Prior Biologic Exposure
HiSCR75 Responses were Similar in Patients with and without Prior Biologic Exposure 15 25.6% 26.7% 23.1% 42.2% 48.0% 33.3% 42.9% 41.2% 45.5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% All Patients No Prior Biologic Use* Prior Biologic Use* H iS C R 7 5 R e s p o n d e rs a t W e e k 1 6 ( N R I) Plac
Slide 16: Early and Sustained Decreases in IHS4
Early and Sustained Decreases in IHS4 were Seen in Both Treatment Groups 16 -8.2 -14.5 -15.9 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 0 2 4 6 8 10 12 14 16 Placebo n=86 Abdakibart 150 mg Q2W n=83 Abdakibart 300 mg Q4W n=84 p = 0.002 p = 0.012 Weeks IHS4: International Hidradenitis Suppurativa Severity Scor
Slide 17: Early and Sustained Decreases in Draining Tunnel Count
Early and Sustained Decreases in Draining Tunnel Count were seen in Both Treatment Groups 17 -0.6 -1.8 -2.0 -1.8 -1.6 -1.4 -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.0 0 2 4 6 8 10 12 14 16 L e a s t S q u a re M e a n C h a n g e f ro m B a s e lin e D ra in in g T u n n e l C o u n t Weeks Placebo n=58 Abdak
Slide 18: Rates of TEAEs, Including SAEs were Similar to Placebo
Placebo Abdakibart # of Subjects (%) N=86 150 mg Q2W N=83 300 mg Q4W N=83 Any TEAE* 46 (53.5) 43 (51.8) 46 (55.4) Any TESAE 2 (2.3) 2 (2.4) 1 (1.2) Non-cardiac chest pain 0 0 1 (1.2) Major depressive disorder 0 1 (1.2) 0 Hidradenitis 2 (2.3) 1 (1.2) 0 Any TEAE leading to study drug discontinuation 2
Slide 19: Few Adverse Events of Special Interest
Placebo Abdakibart # of Subjects (%) N=86 150 mg Q2W N=83 300 mg Q4W N=83 Hypersensitivity Reaction 0 0 0 Injection Site Reaction 4 (4.7) 3 (3.6) 5 (6.0) Leukopenia 0 0 0 Neutropenia 0 0 0 Serious Infections 0 0 0 MACE 0 0 0 Malignancy 0 0 0 Opportunistic Infections 0 0 0 Tuberculosis 0 0 0 Few Adve
Slide 20: Building a New Standard in HS
Building a New Standard in HS 20 HS, hidradenitis suppurativa; IL, interleukin; HiSCR, Hidradenitis Suppurativa Clinical Response. Note: The combined HiSCR50 abdakibart versus placebo analysis was performed post-hoc; Limitations exist in cross-trial comparisons across different phases of development
Slide 21: Avalo Therapeutics
AVAIO THERAPEUTICS
Slide 22: HiSCR75 Responders ITT and Per Protocol at Week 16
HiSCR75 Responders ITT and Per Protocol at Week 16 (NRI) 25.6% 25.3% 42.2% 45.3% 42.9% 45.0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% ITT NRI Per-protocol NRI Placebo Adakibart 150mg Q2W Abdakibart 300mg Q4W N= 75N = 79 N = 80 22 ∆ 19.4%, p = 0.010 ∆ 19.3%, p = 0.008∆ 17.2%, p = 0.015 ∆ 16.7%, p =
Slide 23: Key Secondary Endpoints Statistically Significant or Numerically Improved
Key Secondary Endpoints were Statistically Significant or Numerically Improved Compared to Placebo 23 Δ Difference between treatment arm and placebo; Q2W, every 2 weeks; Q4W, every 4 weeks; NRI, Non-Response Imputation; NRS, Numerical Rating Scale; AN, Abscess and Inflammatory Nodule. 1. Flare Rate
Slide 24: www.avalotx.com
NASDAQ: AVTX www.avalotx.com 24
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