net income -$26.9M. Avalyn Pharma raises in May IPO; Q1 loss widens 54% to on clinical acceleration

Filed June 3, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  IPO completed May 1, 2026 raised $316M net; combined with $123M cash at March 31 and $15M term loan draw, company projects runway into 2029 to advance lead candidates AP01 (Phase 2b) and AP02 (Phase 2).

  MD&A: IPO and Cash Runway verify on EDGAR →
• high

  Q1 2026 net loss $26.9M, up 54% from $17.5M in Q1 2025; R&D spending jumped 50% to $22.9M driven by $2.2M increase in AP01 costs and $4.0M increase in AP02 trial spending.

  MD&A: Financial Results verify on EDGAR →
• high

  Operating cash burn accelerated to $29.8M in Q1 2026 from $19.3M in Q1 2025, reflecting expanded clinical programs and headcount growth to support public company operations.

  MD&A: Cash Flow verify on EDGAR →