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$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)
| Six Months EndedJune 30, | ||
|---|---|---|
| 2026 | 2025 | |
| OPERATING ACTIVITIES: | ||
| Net loss | $(55,804) | $(37,694) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 173 | 19 |
| Non-cash operating lease expense | 221 | — |
| Stock-based compensation expense | 3,983 | 1,671 |
| Amortization and accretion of premiums/discounts on marketable securities | (417) | (1,029) |
| Amortization of debt discount and deferred financing costs | 22 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (192) | (544) |
| Other assets | (12) | 239 |
| Accounts payable | (1,206) | (1,374) |
| Accrued liabilities | (2,543) | (1,260) |
| Operating lease liability | (192) | — |
| Net cash used in operating activities | (55,967) | (39,972) |
| INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (587) | (8) |
| Purchases of marketable securities | (134,832) | (67,058) |
| Proceeds from sale of marketable securities | 26,343 | — |
| Maturities of marketable securities | 45,390 | 54,500 |
| Net cash used in investing activities | (63,686) | (12,566) |
| FINANCING ACTIVITIES: | ||
| Proceeds from initial public offering, net of underwriter discounts and commissions paid during the period | 320,850 | — |
| Payment of offering costs | (4,136) | — |
| Proceeds from the exercise of stock options | 29 | — |
| Proceeds from Term loan | 15,000 | — |
| Payments of issuance costs associated with Term loan | (208) | — |
| Proceeds from issuance of Series D convertible preferred stock, net of issuance costs | — | 89,884 |
| Net cash provided by financing activities | 331,535 | 89,884 |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 211,882 | 37,346 |
| CASH AND CASH EQUIVALENTS: | ||
| Beginning of period | 52,315 | 23,955 |
| End of period | $264,197 | $61,301 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of preferred stock into common stock upon IPO | $372,198 | $— |
| Deferred offering costs transferred to additional paid in capital | 4,232 | - |
| Right-of-use assets obtained in exchange for operating lease liabilities | 831 | — |
| Warrant value issued as part of Term loan | 184 | — |
| Issuance costs related to a public offering included in accounts payable and accrued expenses | 96 | — |
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