Avalo Therapeutics (NASDAQ:AVTX) held its 2026 annual meeting of stockholders virtually via live audio webcast, with stockholders voting on director elections, an employee stock purchase plan amendment and the company’s independent auditor.
Mike Heffernan, chairman of the board, opened the meeting and introduced Chief Executive Officer and Director Dr. Garry Neil, who formally called the meeting to order. Neil identified the board members participating by telephone, including Heffernan, Neil, Dr. Rita Jain, Aaron Kantoff, Gilla Kaplan, Kevin Lind and Samantha Truex.
Meeting Procedures and Quorum
Varki said the company had adopted an agenda and rules of conduct for the meeting, both available on the virtual meeting website. Stockholders were permitted to submit questions through the website, with Avalo planning to post summaries of pertinent questions and answers on its investor relations website following the meeting.
Varki reported that notice of the annual meeting had been mailed on April 10, 2026, to stockholders of record as of the close of business on April 6, 2026. He also said a complete stockholder list was available and that documents related to the virtual meeting would be filed with the meeting records.
The company confirmed that McGovern had taken the customary oath as inspector of elections. Varki then reported that proxies had been received constituting a quorum, allowing Avalo to conduct official business.
Stockholder Proposals
Stockholders considered three proposals during the meeting:
- The election of seven directors to serve until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified.
- Approval of the second amendment and restatement of Avalo’s amended and restated 2016 Employee Stock Purchase Plan.
- Ratification of Ernst & Young LLP as Avalo’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026.
The director nominees were Michael Heffernan, Garry Neil, Rita Jain, Aaron Kantoff, Gilla Kaplan, Kevin Lind and Samantha Truex. Varki said Avalo had not received notice of any other business to be presented at the meeting.
Preliminary Voting Results
After the polls closed, Varki provided preliminary voting results. He said any votes cast during the annual meeting had not yet been included in the preliminary tabulation but would be reflected in the final count.
According to the preliminary results, all seven director nominees were elected to serve until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified. Stockholders also approved the second amendment and restatement of the company’s amended and restated 2016 Employee Stock Purchase Plan.
In addition, stockholders approved the ratification of Ernst & Young LLP as Avalo’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026.
Varki said final voting results would be published in a Form 8-K that Avalo expects to file with the Securities and Exchange Commission within four business days after the meeting.
The meeting was adjourned following the announcement of the preliminary results.
About Avalo Therapeutics (NASDAQ:AVTX)
Avalo Therapeutics is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for cardiometabolic, fibrotic and inflammatory diseases. The company’s proprietary drug-design platform enables the creation of long-acting prodrugs with optimized pharmacokinetic profiles, aiming to improve efficacy, safety and patient adherence. By leveraging this technology, Avalo seeks to address key drivers of disease progression that remain underserved by existing treatments.
Its lead programs include AVTX-002, a first-in-class prodrug candidate designed to inhibit angiotensinogen for the treatment of hypertension and related cardiovascular disorders, and AVTX-006, an early-stage candidate targeting pathways implicated in fibrosis and metabolic dysfunction.
