Avalyn Pharma IPO Prices at $18, Raises $300 Million

IPO Details and Gross Proceeds

Avalyn Pharma Inc. has priced its upsized initial public offering of 16,666,667 common stock shares at $18.00 per share. The biopharmaceutical company anticipates raising gross proceeds of $300 million, before deducting underwriting discounts and other offering-related expenses.

Offering Overview

The Boston-based company has granted underwriters a 30-day option to purchase up to an additional 2.5 million shares at the IPO price. Trading is set to commence on the Nasdaq Global Select Market on April 30, 2026, under the ticker symbol "AVLN".

The offering's closure is scheduled for May 1, 2026, contingent on customary closing conditions. The joint book-running managers for this offering include Morgan Stanley, Jefferies, Evercore ISI, and Guggenheim Securities.

Company Profile and Market Significance

Avalyn Pharma specializes in developing inhaled therapies for rare respiratory diseases. The capital raised is expected to support its clinical programs, including AP01, an inhaled formulation of pirfenidone in Phase 2b trials for progressive pulmonary fibrosis, and AP02, an inhaled nintedanib in Phase 2 trials for idiopathic pulmonary fibrosis.

The Securities and Exchange Commission declared the registration statement effective on April 29, 2026, permitting the offering to proceed solely through a prospectus.

Summary

With a successful pricing of $300 million, Avalyn Pharma's debut on the Nasdaq will be closely watched by investors. The proceeds will be critical for advancing its late-stage clinical trials for rare respiratory diseases, marking a significant step for the company's growth and development pipeline.

FAQ

Q: How much did Avalyn Pharma raise in its IPO?
A: Avalyn Pharma expects to raise $300 million in gross proceeds from its initial public offering.

Q: What is Avalyn Pharma's stock ticker and where will it trade?
A: The company will trade on the Nasdaq Global Select Market under the ticker symbol "AVLN".

Q: What does Avalyn Pharma specialize in?
A: Avalyn Pharma develops inhaled therapies for rare respiratory diseases, with key programs in Phase 2 clinical trials for conditions like pulmonary fibrosis.

Source: Investing.com