Avalyn Pharma Inc.
For the period ended Mar 31, 2026. Filed Jun 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Jun 3, 2026
AVLN$31.17+5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands) (Unaudited)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| OPERATING ACTIVITIES: | ||
| Net loss | $(26,869) | $(17,503) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 63 | 10 |
| Non-cash operating lease expense | 109 | — |
| Stock-based compensation expense | 1,193 | 543 |
| Amortization and accretion of premiums/discounts on marketable securities | (237) | (558) |
| Amortization of debt discount and deferred financing costs | 5 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (508) | (265) |
| Other assets | — | 120 |
| Accounts payable | (1,113) | (1,010) |
| Accrued liabilities | (2,464) | (612) |
| Operating lease liability | (70) | — |
| Net cash used in operating activities | (29,891) | (19,275) |
| INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (318) | (8) |
| Purchases of marketable securities | — | (2,873) |
| Proceeds from sale of marketable securities | 26,342 | — |
| Maturities of marketable securities | 29,000 | 27,000 |
| Net cash provided by investing activities | 55,024 | 24,119 |
| FINANCING ACTIVITIES: | ||
| Proceeds from the exercise of stock options | 25 | — |
| Proceeds from Term loan | 15,000 | — |
| Payments of issuance costs associated with Term loan | (163) | — |
| Net cash provided by financing activities | 14,862 | — |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 39,995 | 4,844 |
| CASH AND CASH EQUIVALENTS: | ||
| Beginning of period | 52,315 | 23,955 |
| End of period | $92,310 | $28,799 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Warrant value issued as part of Term loan | $184 | $— |
| Deferred offering costs included in accounts payable and accrued expenses | $1,002 | $— |
| Purchases of property and equipment included in accounts payable and accrued expenses | $209 | $— |
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