Avalyn Pharma reports Q1 2026 results, IPO raises $345M for pipeline advancement

Avalyn completed an upsized IPO raising $345 million gross proceeds and reported progress on three pulmonary fibrosis programs, with MIST Phase 2b enrollment on track for mid-2026 completion. The company has sufficient capital to fund operations into 2029, with clinical readouts expected across all three programs in 2027.