---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-254581"
form_type: "8-K"
ticker: "AVLN"
cik: "0001540171"
company_name: "Avalyn Pharma Inc."
filed_at: "2026-06-03T11:25:05+00:00"
generated_at: "2026-06-03T11:31:03.388198+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-254581
- form_type: 8-K
- ticker: AVLN
- cik: 0001540171
- company_name: Avalyn Pharma Inc.
- filed_at: 2026-06-03T11:25:05+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1540171/000119312526254581/0001193125-26-254581-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1540171/000119312526254581/ck0001540171-20260603.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-254581
- JSON: https://secwatch.observer/filing/0001193125-26-254581.json
- Plain text: https://secwatch.observer/filing/0001193125-26-254581.txt

## Key facts
- Earnings Releases
  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
  source text: Avalyn Pharma Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1540171/000119312526254581/0001193125-26-254581-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.