Avalyn Pharma — Third Quarter 2026 Earnings Summary

Avalyn Pharma Inc. reported a net loss of $29.7 million for the third quarter of 2026, driven by increased research and development expenses of $25.5 million and general and administrative costs of $7.6 million. The company ended the quarter with $386.6 million in cash and marketable securities, projecting a runway into 2029. Recent pipeline progress includes the initiation of a Phase 1 study for the fixed-dose combination AP03 in healthy volunteers, the presentation of new AP01 data at the ERS Congress, and the publication of AP02 Phase 1 results in Respiratory Research. Additionally, Robert J. Meyer, MD, was appointed to the company's Board of Directors in September.