Avalyn Pharma closes IPO, raising $345M with full exercise of underwriters' option.

Avalyn Pharma Inc., a clinical-stage biopharmaceutical company specializing in inhaled therapies for rare respiratory diseases, has closed its initial public offering (IPO). The company sold 19,166,667 shares at $18.00 each, including 2.5 million additional shares from the underwriters' full exercise of their option, raising gross proceeds of $345 million. Avalyn's stock is now listed on Nasdaq under the ticker AVLN. This capital raise will support Avalyn's development of innovative treatments for serious respiratory conditions, positioning it for future growth and clinical advancement.