Avalyn Pharma Inc.

Avalyn Pharma Inc. is a clinical-stage biopharmaceutical company dedicated to developing inhaled medicines for rare respiratory diseases, including pulmonary fibrosis and other interstitial lung diseases (ILDs). The company's mission is to deliver inhaled formulations of effective medicines directly to lung tissue, aiming to enhance efficacy and mitigate systemic side effects associated with traditional oral drug delivery. Headquartered in Boston, Massachusetts, Avalyn Pharma focuses on addressing significant unmet needs in the treatment of life-threatening pulmonary conditions.

The company's pipeline features several clinical-stage programs, including AP01 (inhaled pirfenidone) and AP02 (inhaled nintedanib), which are optimized inhaled formulations of existing antifibrotic agents. Additionally, Avalyn is advancing AP03, a preclinical-stage fixed-dose combination of inhaled pirfenidone and nintedanib. These product candidates are designed to improve tolerability and efficacy for patients suffering from conditions such as idiopathic pulmonary fibrosis (IPF) and progressive pulmonary fibrosis (PPF), by targeting the disease directly in the lungs.

Avalyn Pharma successfully completed its initial public offering (IPO) on April 30, 2026, and its shares are traded on the NASDAQ Global Market under the ticker symbol AVLN. The IPO raised approximately $345 million, extending the company's operational runway into 2029. Recent corporate milestones include the completion of target enrollment in the Phase 2b MIST Trial of AP01 for progressive pulmonary fibrosis on June 17, 2026, and the reporting of Q1 2026 financial results on June 3, 2026. The leadership team is headed by CEO Lyn Baranowski and CFO Doug Carlson, with Mark Surber serving as Founder and Chief Scientific Officer.