NASDAQ: AVLN
Avalyn Pharma Inc.CIK 0001540171 · SIC 2834 · Pharmaceutical Preparations
Small by assets
Assets $425M
as of Sep 6, 2026
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8-K
Filed Aug 12, 2026
· Period ending Aug 12, 2026
Summary not yet generated.
10-Q
Filed Aug 12, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
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8-K
Filed Jul 1, 2026
· Period ending Jun 29, 2026
Summary not yet generated.
8-K
Filed Jun 17, 2026
· Period ending Jun 17, 2026
Summary not yet generated.
10-Q
Filed Jun 3, 2026
· Period ending Mar 31, 2026
Red flag
net income -$26.9M. Avalyn Pharma raises in May IPO; Q1 loss widens 54% to on clinical acceleration
5 material changes detected. Sign up free to read the summary.
8-K
Filed Jun 3, 2026
· Period ending Jun 3, 2026
Avalyn Pharma reports Q1 2026 financial results
2 material changes detected. Sign up free to read the summary.
8-K
Filed May 1, 2026
· Period ending May 1, 2026
Avalyn Pharma restructures governance for IPO, creates dual-class stock with 200M non-voting shares
4 material changes detected. Sign up free to read the summary.
S-1/A
Filed Apr 29, 2026
Critical
Avalyn Pharma files for IPO, plans to raise $283.3M at $17.00/share midpoint
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Latest financial statements
From 10-Q filed Aug 12, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Comprehensive Loss (Unaudited)
(In thousands, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| OPERATING EXPENSES: | ||||
| Research and development | 24,729 | 17,882 | 47,618 | 33,201 |
| General and administrative | 6,561 | 3,895 | 11,581 | 7,292 |
| Total operating expenses | 31,290 | 21,777 | 59,199 | 40,493 |
| LOSS FROM OPERATIONS | (31,290) | (21,777) | (59,199) | (40,493) |
| OTHER INCOME (EXPENSE): | ||||
| Interest income | 2,696 | 1,627 | 3,821 | 2,875 |
| Interest expense | (272) | - | (370) | - |
| Other income (expense) | (69) | (41) | (56) | (76) |
| Total other income | 2,355 | 1,586 | 3,395 | 2,799 |
| NET LOSS | (28,935) | (20,191) | (55,804) | (37,694) |
| COMPREHENSIVE LOSS: | ||||
| Net loss | (28,935) | (20,191) | (55,804) | (37,694) |
| OTHER COMPREHENSIVE LOSS: | ||||
| Unrealized gains (losses) on marketable securities | (107) | (34) | (229) | (122) |
| Total other comprehensive loss | (107) | (34) | (229) | (122) |
| TOTAL COMPREHENSIVE LOSS | (29,042) | (20,225) | (56,033) | (37,816) |
| Net loss per share of common stock, basic and diluted | (0.98) | (17.63) | (3.60) | (52.83) |
| Weighted-average number of common stock used in net loss per share, basic and diluted | 29,650,660 | 1,145,309 | 15,519,187 | 713,450 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | 264,197 | 52,315 |
| Marketable securities, current | 88,228 | 86,044 |
| Prepaid expenses and other current assets | 5,563 | 5,201 |
| Total current assets | 357,988 | 143,560 |
| NON-CURRENT ASSETS: | ||
| Property and equipment, net | 1,206 | 792 |
| Operating lease right-of-use asset | 2,140 | 1,530 |
| Marketable securities, noncurrent | 61,103 | — |
| Other assets | 3,011 | 2,999 |
| Total noncurrent assets | 67,460 | 5,321 |
| TOTAL ASSETS | 425,448 | 148,881 |
| LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 2,648 | 3,758 |
| Accrued liabilities | 7,345 | 9,889 |
| Operating lease liability | 816 | 444 |
| Total current liabilities | 10,809 | 14,091 |
| NON-CURRENT LIABILITIES: | ||
| Term loan | 14,801 | — |
| Operating lease liability, noncurrent | 1,492 | 1,225 |
| TOTAL LIABILITIES | 27,102 | 15,316 |
| COMMITMENTS AND CONTINGENCIES (Note 8) | ||
| REDEEMABLE CONVERTIBLE PREFERRED STOCK | ||
| Series A redeemable convertible preferred stock, $0.001 par value; no shares and 51,213,004 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 49,651,129 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $49,651 as of June 30, 2026 and December 31, 2025, net of issuance costs of $475, respectively | — | 49,176 |
| Series B redeemable convertible preferred stock, $0.001 par value; no shares and 25,210,789 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 25,208,502 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $35,693 as of June 30, 2026 and December 31, 2025, net of issuance costs of $317, respectively | — | 35,376 |
| Series C-1 redeemable convertible preferred stock, $0.001 par value; no shares and 239,092,424 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 239,016,017 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $175,041 as of June 30, 2026 and December 31, 2025, net of issuance costs of $547, respectively | — | 174,494 |
| Series C-2 redeemable convertible preferred stock, $0.001 par value; no shares and 20,316,359 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 20,316,359 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $11,903 as of June 30, 2026 and December 31, 2025, net of issuance costs of $49, respectively | — | 13,406 |
| Series D redeemable convertible preferred stock, $0.001 par value; no shares and 126,346,412 authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 126,036,334 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $100,363 as of June 30, 2026 and December 31, 2025, net of issuance costs of $594, respectively | — | 99,769 |
| STOCKHOLDERS’ DEFICIT | ||
| Preferred stock, $0.001 par value; 10,000,000 shares and no shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Common stock, $0.001 par value; 700,000,000 and 575,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 44,333,094 and 1,227,186 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 67 | 24 |
| Additional paid-in capital | 719,541 | 26,548 |
| Accumulated other comprehensive (loss) income | (95) | 134 |
| Accumulated deficit | (321,167) | (265,362) |
| Total stockholders’ equity (deficit) | 398,346 | (238,656) |
| TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | 425,448 | 148,881 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| OPERATING ACTIVITIES: | ||
| Net loss | (55,804) | (37,694) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 173 | 19 |
| Non-cash operating lease expense | 221 | — |
| Stock-based compensation expense | 3,983 | 1,671 |
| Amortization and accretion of premiums/discounts on marketable securities | (417) | (1,029) |
| Amortization of debt discount and deferred financing costs | 22 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (192) | (544) |
| Other assets | (12) | 239 |
| Accounts payable | (1,206) | (1,374) |
| Accrued liabilities | (2,543) | (1,260) |
| Operating lease liability | (192) | — |
| Net cash used in operating activities | (55,967) | (39,972) |
| INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (587) | (8) |
| Purchases of marketable securities | (134,832) | (67,058) |
| Proceeds from sale of marketable securities | 26,343 | — |
| Maturities of marketable securities | 45,390 | 54,500 |
| Net cash used in investing activities | (63,686) | (12,566) |
| FINANCING ACTIVITIES: | ||
| Proceeds from initial public offering, net of underwriter discounts and commissions paid during the period | 320,850 | — |
| Payment of offering costs | (4,136) | — |
| Proceeds from the exercise of stock options | 29 | — |
| Proceeds from Term loan | 15,000 | — |
| Payments of issuance costs associated with Term loan | (208) | — |
| Proceeds from issuance of Series D convertible preferred stock, net of issuance costs | — | 89,884 |
| Net cash provided by financing activities | 331,535 | 89,884 |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 211,882 | 37,346 |
| CASH AND CASH EQUIVALENTS: | ||
| Beginning of period | 52,315 | 23,955 |
| End of period | 264,197 | 61,301 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of preferred stock into common stock upon IPO | 372,198 | — |
| Deferred offering costs transferred to additional paid in capital | 4,232 | - |
| Right-of-use assets obtained in exchange for operating lease liabilities | 831 | — |
| Warrant value issued as part of Term loan | 184 | — |
| Issuance costs related to a public offering included in accounts payable and accrued expenses | 96 | — |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share and per share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗