Biotech traded higher on Wednesday, with risk appetite improving across companies tied to clinical data, commercial execution, and strategic deal activity. Today’s episode covers Avalo’s randomized Phase 2 hidradenitis suppurativa data, Bayer’s acquisition of Perfuse Therapeutics, and TG Therapeutics’ stronger Briumvi revenue outlook.

In today’s BioBrief:

• Avalo Therapeutics / abdakibart — Avalo reported positive randomized Phase 2 data in moderate-to-severe hidradenitis suppurativa, with both dosing arms meeting the HiSCR75 primary endpoint at Week 16.
• Avalo financing — The company priced a $375 million offering intended to fund abdakibart through Phase 3 topline data, shifting the story toward a funded registrational path.
• Bayer / Perfuse Therapeutics — Bayer agr ...