Dilution profile // every instrument, one screen, from SEC filings

Avalo Therapeutics, Inc. (AVTX)

CIK 1534120 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$752M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 7% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-72% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOW~93.3 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-11-052026-08-03

Latest: 53.6M shares as of Aug 3, 2026 (10-Q). Share count fell from 192.4M to 1.0M between Nov 7, 2023 and Mar 27, 2024, a pattern consistent with a reverse split (roughly 1-for-186); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Prefunded Warrant1.4M$0.001
Common Stock Warrants1.4M$0.001
Common Stock Warrants Expiration June2031148$7488

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 4.0M underlying shares, as reported Dec 31, 2018 (10-Q).

Reported exercise price: $0.001 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 57.6M = 53.6M O/S + 4.0M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Aug 6, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding53.6MAug 3, 2026
+ Prefunded Warrant (if exercised)1.4MMay 7, 2026
+ Common Stock Warrants (if exercised)1.4MJun 30, 2026
+ Common Stock Warrants Expiration June2031 (if exercised)148Jun 30, 2026
Fully diluted estimate56.4M+5.2% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $752.4Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Jul 17, 2026$2.4M registeredfiling →
S-3Jan 8, 2026$750.0M registeredfiling →
S-3Jun 6, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 3 executed · 2 registered.

UPDATEJul 28, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJul 28, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJul 17, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJun 12, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 7, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 5, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEJan 20, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJan 8, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJun 5, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEAug 5, 2024Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEAug 5, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJul 29, 2024S-3/A registration — capacity to sell shares, not a sale yetS-3/A

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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