Avalyn Pharma Inc.
For the period ended Jun 30, 2026. Filed Aug 12, 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.
Jun 30, 2026 · Filed Aug 12, 2026
AVLN$29.50+1.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts) (Unaudited)
| June 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $264,197 | $52,315 |
| Marketable securities, current | 88,228 | 86,044 |
| Prepaid expenses and other current assets | 5,563 | 5,201 |
| Total current assets | 357,988 | 143,560 |
| NON-CURRENT ASSETS: | ||
| Property and equipment, net | 1,206 | 792 |
| Operating lease right-of-use asset | 2,140 | 1,530 |
| Marketable securities, noncurrent | 61,103 | — |
| Other assets | 3,011 | 2,999 |
| Total noncurrent assets | 67,460 | 5,321 |
| TOTAL ASSETS | $425,448 | $148,881 |
| LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $2,648 | $3,758 |
| Accrued liabilities | 7,345 | 9,889 |
| Operating lease liability | 816 | 444 |
| Total current liabilities | 10,809 | 14,091 |
| NON-CURRENT LIABILITIES: | ||
| Term loan | 14,801 | — |
| Operating lease liability, noncurrent | 1,492 | 1,225 |
| TOTAL LIABILITIES | 27,102 | 15,316 |
| COMMITMENTS AND CONTINGENCIES (Note 8) | ||
| REDEEMABLE CONVERTIBLE PREFERRED STOCK | ||
| Series A redeemable convertible preferred stock, $0.001 par value; no shares and 51,213,004 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 49,651,129 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $49,651 as of June 30, 2026 and December 31, 2025, net of issuance costs of $475, respectively | — | 49,176 |
| Series B redeemable convertible preferred stock, $0.001 par value; no shares and 25,210,789 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 25,208,502 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $35,693 as of June 30, 2026 and December 31, 2025, net of issuance costs of $317, respectively | — | 35,376 |
| Series C-1 redeemable convertible preferred stock, $0.001 par value; no shares and 239,092,424 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 239,016,017 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $175,041 as of June 30, 2026 and December 31, 2025, net of issuance costs of $547, respectively | — | 174,494 |
| Series C-2 redeemable convertible preferred stock, $0.001 par value; no shares and 20,316,359 shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 20,316,359 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $11,903 as of June 30, 2026 and December 31, 2025, net of issuance costs of $49, respectively | — | 13,406 |
| Series D redeemable convertible preferred stock, $0.001 par value; no shares and 126,346,412 authorized as of June 30, 2026 and December 31, 2025, respectively; no shares and 126,036,334 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $0 and $100,363 as of June 30, 2026 and December 31, 2025, net of issuance costs of $594, respectively | — | 99,769 |
| STOCKHOLDERS’ DEFICIT | ||
| Preferred stock, $0.001 par value; 10,000,000 shares and no shares authorized as of June 30, 2026 and December 31, 2025, respectively; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Common stock, $0.001 par value; 700,000,000 and 575,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 44,333,094 and 1,227,186 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 67 | 24 |
| Additional paid-in capital | 719,541 | 26,548 |
| Accumulated other comprehensive (loss) income | (95) | 134 |
| Accumulated deficit | (321,167) | (265,362) |
| Total stockholders’ equity (deficit) | 398,346 | (238,656) |
| TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | $425,448 | $148,881 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.