Avalyn Pharma Q2 net loss widens to $28.9 million; cash totals $413.5 million
Avalyn Pharma reported a second-quarter 2026 net loss of $28.9 million, up from $20.2 million a year earlier, as research and development and general and administrative spending rose. The company is pre-revenue and reported no revenue in the filing, so the loss is its main financial measure, and the filing says its $413.5 million in cash is projected to fund operations into 2029.
Key points
- Net loss was $28.9 million for the quarter ended June 30, 2026, versus $20.2 million for the same quarter of 2025.
- R&D expenses rose to $24.7 million from $17.9 million, driven by the AP01 and AP02 clinical trials and the SAIL open-label extension study.
- Cash, cash equivalents and marketable securities were $413.5 million at June 30, 2026, including about $316.6 million in net IPO proceeds from May 2026; the company projects runway into 2029.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.