AbbVie modest lutikizumab HS Phase 3 data gaps Avalo down

 

• AbbVie reported Oct 22 that Phase 3 INTREPID met HiSCR75 at 31.4% versus 23.4% placebo.
• The 8-point benefit fell well short of the 25-point delta H.C. Wainwright flagged as needed.
• Avalo Phase 2 LOTUS had shown 42-43% HiSCR75 versus 25.6% placebo, prompting translation worries.
• X posts from biotech traders immediately tied the class readout to AVTX's premarket plunge.
• No company press release, 8-K or analyst note on Avalo itself appeared after the prior close.
• The gap accounted for nearly all of the 27.6% drop versus previous close of $12.26.

https://finviz.com/stock?t=AVTX&p=d