Cerecor Inc. Reaffirms Earnings Guidance for the Full Year 2019; Announces Impairment Charges for the Second Quarter Ended June 30, 2019
August 08, 2019 at 04:05 pm EDT
Share
Cerecor Inc. reaffirmed earnings guidance for the full year 2019. The company maintains its full-year 2019 net revenue guidance in a range of $20 to $22 million.
The company also announced impairment charges for the second quarter ended June 30, 2019. For the quarter, the company's impairment of intangible assets was $1,449,000 compared to $1,702,000 a year ago.
Avalo Therapeutics, Inc. is a clinical-stage biotechnology company focused on the treatment of immune dysregulation. The Company's lead asset is AVTX-009, an anti-IL-1β mAb, targeting inflammatory diseases. Its pipeline also includes quisovalimab (anti-LIGHT mAb) and AVTX-008 (BTLA agonist fusion protein). AVTX-009 is a humanized monoclonal antibody (IgG4) that binds to interleukin-1β (IL-1β) with high affinity and neutralizes its activity. IL- 1β is a central driver in the inflammatory process. Quisovalimab is a fully human monoclonal antibody (mAb), directed against human LIGHT (Lymphotoxin-like, exhibits Inducible expression, and competes with Herpes Virus Glycoprotein D for Herpesvirus Entry Mediator (HVEM), a receptor expressed by T lymphocytes). AVTX-008 is a fully human B and T Lymphocyte Attenuator (BTLA) agonist fusion protein. AVTX-008 is differentiated by having specific binding to BTLA, with no binding to LIGHT or CD160.