Avalyn Pharma reports Q1 net loss of $26.9M; MIST Phase 2b enrollment on track

Avalyn Pharma Inc.

Net loss of $26.9M in Q1 2026 vs $17.5M in Q1 2025; R&D expense rose to $22.9M.
Cash, equivalents and marketable securities of $123.1M as of March 31, 2026; excludes $316.1M net IPO proceeds raised in May 2026.
MIST Phase 2b trial of AP01 in PPF enrollment on schedule to complete mid-2026; topline data expected H2 2027.
AURA Phase 2 trial of AP02 in IPF underway; first patient dosed March 2026; topline data expected late 2027.
Appointed Adam Golden as General Counsel and Head of BD, and Frank Salisbury as SVP Commercial.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Avalyn Pharma Inc. reported the first quarter ended March 31, 2026 results: net income Net loss was $26.9 million.

Period: the first quarter ended March 31, 2026
Net income: Net loss was $26.9 million
Result: reported results

Exact text from the filing

Avalyn Pharma Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2026.

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Source: SEC EDGAR

accession 0001193125-26-254581

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