Avalo Therapeutics’ Phase 2 trial in hidradenitis suppurativa (HS) hit its primary endpoint, but the placebo-adjusted result missed the company’s internal bar, a dynamic that still moved the stock. The trial randomized 253 adults with moderate-to-severe HS to abdakibart (anti-IL-1β) at two dose regimens or placebo. At Week 16, the HiSCR75 response rates were 42.2% for 150 mg every two weeks and 42.9% for 300 mg every four weeks. On a placebo-adjusted basis, the average response was 16.9%, below the 20% threshold analysts and management had referenced as a clearer win. Cross-trial comparisons were noted as potentially unreliable, but the placebo sensitivity was a key variable, with the higher-than-expected placebo response narrowing the statistical separation. Still, investigators said the abdakibart dosing produced higher absolute rates than AbbVie’s lutikizumab in earlier comparisons discussed by the company. Avalo said the result supports advancing toward registrational study planning despite the setback in the placebo-adjusted target math, emphasizing the next readouts will likely hinge on endpoint selection and trial design aimed at improving signal-to-placebo separation.