--- title: "Avalyn Pharma files for IPO, plans Nasdaq Global Market listing as AVLN" url: "https://aibio.space/news/avalyn-pharma-files-ipo-plans-nasdaq-global-market-listing-avln/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-04-08" section: "Financings" tickers: "NASDAQ:AVLN" source: "https://www.sec.gov/Archives/edgar/data/1540171/000119312526147573/ck0001540171-20260408.htm" summary: "Avalyn Pharma Inc. filed a Form S-1 on April 8, 2026. The cover leaves the share count and price range blank." --- By the aibio.space news desk. Sources - [Avalyn Pharma Inc. S-1 (2026-04-08)](https://www.sec.gov/Archives/edgar/data/1540171/000119312526147573/ck0001540171-20260408.htm) [AVLN](https://aibio.space/companies/avalyn-pharma/) 2026-04-08 # Avalyn Pharma files for IPO, plans Nasdaq Global Market listing as AVLN Tickers [AVLN](https://aibio.space/companies/avalyn-pharma/) Avalyn Pharma Inc. filed a Form S-1 on April 8, 2026. The cover leaves the share count and price range blank. ## Key facts - **Company**: Avalyn Pharma Inc. (NASDAQ: AVLN) - **News type**: Financings - **Primary source**: [Avalyn Pharma Inc. S-1 (2026-04-08)](https://www.sec.gov/Archives/edgar/data/1540171/000119312526147573/ck0001540171-20260408.htm) *A meeting room with a long table and a screen. CC0, via rawpixel. The picture shows the field, not the companies named.* Avalyn Pharma Inc. filed a registration statement on Form S-1 with the Securities and Exchange Commission on April 8, 2026, for an initial public offering of its common stock. The company is based at 105 West First Street in Boston. Its filing says there is no public market for its shares before the offering. Avalyn has applied to list the stock on the Nasdaq Global Market under the symbol AVLN. It says it believes it will meet the listing standards on completion of the offering, and that the offering is contingent on that listing. The cover leaves blank both the number of shares and the price range. The company describes itself as an emerging growth company and a smaller reporting company. ## Underwriters and counsel The cover names Morgan Stanley, Jefferies, Evercore ISI and Guggenheim Securities as underwriters. The cover does not say which of them is lead or sole book-runner. It leaves the underwriting discounts and commissions blank. Avalyn has granted the underwriters an option to buy additional shares at the offering price, less those discounts and commissions. Goodwin Procter LLP of Boston is listed under "copies to" with Mitchell S. Bloom, Stephanie Richards and Kristen M. McCarthy. Davis Polk & Wardwell LLP of New York is listed with Richard D. Truesdell, Jr. and Yasin Keshvargar. The cover does not say which firm represents the company and which represents the underwriters. Lyn Baranowski, the chief executive officer, is named as agent for service. ## The programs and the competition Avalyn's most advanced candidates are inhaled formulations. AP01 is inhaled pirfenidone for progressive pulmonary fibrosis, and AP02 is inhaled nintedanib for idiopathic pulmonary fibrosis. The company says it has completed ATLAS, a Phase 1b trial of AP01 in idiopathic pulmonary fibrosis, and that patients from that trial moved into an open-label extension with more than four and a half years of data. It says the data show a favorable tolerability profile and preliminary clinical activity, including near-stabilization of lung function. AP01 is in MIST, a global Phase 2b trial for progressive pulmonary fibrosis. AP02 is in AURA, a global Phase 2 trial for idiopathic pulmonary fibrosis. A fixed-dose combination, AP03, is moving into a Phase 1 trial. The filing describes the clinical activity data as preliminary. It also says the company is substantially dependent on AP01 and AP02, and that it is early in its development efforts. The filing puts the competition in plain terms. It says ESBRIET and OFEV generated more than $4.0 billion in gross global sales in 2024, despite limited use. It says that because of side effects, around 50% of patients who start treatment with available therapies discontinue within one year. The company says its inhaled candidates may offer improved tolerability and efficacy. That is the company's view, and the filing presents it as such. ## The finances Avalyn reported net losses of $85.2 million for 2025 and $49.7 million for 2024. Its accumulated deficit was $265.4 million at December 31, 2025, up from $180.2 million a year earlier. The loss from operations was $91,292 thousand in 2025 and $57,121 thousand in 2024. Other income was $6,088 thousand in 2025 and $7,377 thousand in 2024. At December 31, 2025, cash, cash equivalents and marketable securities totaled $138,359 thousand, against total liabilities of $15,316 thousand. Working capital was $129,469 thousand. Convertible preferred stock was carried at $372,221 thousand, and total stockholders' deficit was $238,656 thousand. The filing says that, even if this offering is successful, Avalyn will need substantial additional funding. Shares outstanding after the offering are based on 483,842,421 shares as of December 31, 2025. That figure assumes conversion of all convertible preferred stock into 460,228,341 shares of common stock. The filing also excludes 5,269,073 shares issuable on exercise of stock options outstanding on that date under the 2012 Equity Incentive Plan. The cover gives no offering size and no price range. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story AVLN Avalyn Pharma Inc. 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Cite as: aibio.space, "Avalyn Pharma files for IPO, plans Nasdaq Global Market listing as AVLN", 2026-04-08, https://aibio.space/news/avalyn-pharma-files-ipo-plans-nasdaq-global-market-listing-avln/