<div id="readability-page-1" class="page">Avalyn Pharma (AVLN), a clinical biotech pioneering inhaled treatments for rare respiratory disorders, priced its upsized IPO of 16.67 million shares at $18.00 – the top of its $16.00-to-$18.00 price range – and raised $300.06 million on Wednesday night, April 29, 2026. Shares of Avalyn Pharma (AVLN) surged in their NASDAQ debut to open at $26.00 – up $8.00 from the IPO price for a 44.44 percent gain – at 12:23 p.m. EDT today – Thursday, April 30, 2026 – on volume of 813,133 shares. Avalyn Pharma’s stock kept climbing – trading at $27.45 at 12:54 p.m. EDT. Morgan Stanley, Jefferies, Evercore ISI and Guggenheim Securities acted as the joint book-runners on Avalyn’s IPO. Avalyn Pharma, focused on pulmonary fibrosis, increased its IPO’s size yesterday to 16.67 million shares – up from 11.8 million shares originally – to raise $283.39 million, if priced at the $17.00 mid-point of its range. Avalyn Pharma (AVLN), based in Boston, is focused on developing inhaled treatments for progressive pulmonary fibrosis (PPF) and idiopathic pulmonary fibrosis (IPF). In the prospectus, Avalyn Pharma (AVLN) said its leading drug candidate, AP01 , is an inhaled formulation of pirfenidone to treat progressive pulmonary fibrosis (PPF), and its other leading drug candidate, AP02, is an inhaled formulation of nintedanib to treat idiopathic pulmonary fibrosis, or IPF. AP01 is currently being evaluated in MIST, a global Phase 2b clinical trial for the treatment of PPF, according to the prospectus. AP02 is currently being evaluated in AURA, a global Phase 2 clinical trial for the treatment of IPF. “We are also advancing AP03 into a Phase 1 clinical trial. AP03 is a fixed-dose combination of inhaled pirfenidone and nintedanib designed to deliver dual antifibrotic mechanisms with the potential for additive or synergistic benefit,” Avalyn Therapeutics said in the prospectus. Avalyn Pharma (AVLN) is not profitable: The company reported a net loss of $85.2 million on no revenue for the 12 months that ended Dec. 31, 2025, according to financial statements in the prospectus. (For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. </div>

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Avalyn Pharma (AVLN) 將其增發的 1667 萬股 IPO 定價為 18.00 美元，籌集了 3.0006 億美元。該股票在納斯達克首日交易中飆升至 26.00 美元，漲幅達到 44.44%。該公司專注於稀有呼吸系統疾病的吸入治療，主要候選藥物 AP01 和 AP02 正在進行臨牀試驗。儘管 IPO 成功，Avalyn 仍報告了 8520 萬美元的淨虧損，且去年沒有收入

The IPO Buzz: Avalyn Pharma (AVLN) Priced Upsized IPO at $18 – Top – & Stock Pops

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MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

首次公開募股動態：Avalyn Pharma（AVLN）將擴大後的 IPO 定價為 18 美元——頂級——股票大漲