Avalyn Pharma priced its upsized IPO of 16.67 million shares at $18.00, raising $300.06 million on April 29, 2026.
Originally targeted $181.8 million at $17/share midpoint; upsized from 11.8 million shares.
AVLN ticker began trading April 30, 2026 on Nasdaq.
Proceeds fund Phase 2b trial for AP01 (inhaled pirfenidone for progressive pulmonary fibrosis), AP02 (inhaled nintedanib for IPF), and preclinical AP03.
Boston-based company had $0 revenue and -$85.2M net loss for year ended Dec 31, 2025; market cap $752.62M.