Avalyn Pharma (AVLN)


Market Price (10/23/2026): $27.3 | Market Cap: $1.2 BilSector: Health Care | Industry: Biotechnology

Avalyn Pharma (AVLN)


Market Price (10/23/2026): $27.3
Market Cap: $1.2 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28%

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.

Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -83%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -100 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13%

Key risks
AVLN key risks include [1] failure to successfully complete clinical trials and gain regulatory approval for its entire product pipeline, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
2 Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -83%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -100 Mil
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13%
6 Key risks
AVLN key risks include [1] failure to successfully complete clinical trials and gain regulatory approval for its entire product pipeline, Show more.

AVLN in ETFs

Weight = AVLN's share of each fund

VTI0.00%
IWM0.02%
IWO0.02%
VTWO0.02%
SCHA0.01%
ONEQ0.00%
IWN0.00%
IWV0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/22/2026

Avalyn Pharma (AVLN) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Anticipation of Lock-Up Expiration.

Avalyn Pharma's stock has experienced downward pressure due to the impending expiration of its IPO lock-up period on October 27, 2026. The company went public on April 30, 2026, at an IPO price of $18.00 per share. The expiration allows insiders and early investors to sell their shares, potentially increasing the supply of stock on the market and leading to profit-taking, particularly given the stock traded well above its IPO price for a period, reaching an all-time high of $40.17 on August 18, 2026.

2. Extended Timeline for Key Clinical Trial Readouts.

As a clinical-stage biopharmaceutical company, Avalyn Pharma's stock is sensitive to the progress and timelines of its drug development pipeline. While the company announced the completion of enrollment for its MIST Phase 2b trial of AP01 and confirmed ongoing enrollment for the AURA Phase 2 trial of AP02, topline data for both critical programs are not anticipated until the second half or late 2027. This prolonged wait for significant clinical catalysts has likely tempered investor enthusiasm and contributed to a re-evaluation of the stock's valuation after its initial post-IPO rally.

Show more
Updated on 10/22/2026

Avalyn Pharma (AVLN) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Anticipation of Lock-Up Expiration.

Avalyn Pharma's stock has experienced downward pressure due to the impending expiration of its IPO lock-up period on October 27, 2026. The company went public on April 30, 2026, at an IPO price of $18.00 per share. The expiration allows insiders and early investors to sell their shares, potentially increasing the supply of stock on the market and leading to profit-taking, particularly given the stock traded well above its IPO price for a period, reaching an all-time high of $40.17 on August 18, 2026.

2. Extended Timeline for Key Clinical Trial Readouts.

As a clinical-stage biopharmaceutical company, Avalyn Pharma's stock is sensitive to the progress and timelines of its drug development pipeline. While the company announced the completion of enrollment for its MIST Phase 2b trial of AP01 and confirmed ongoing enrollment for the AURA Phase 2 trial of AP02, topline data for both critical programs are not anticipated until the second half or late 2027. This prolonged wait for significant clinical catalysts has likely tempered investor enthusiasm and contributed to a re-evaluation of the stock's valuation after its initial post-IPO rally.

3. Increased Net Loss in Fiscal Q2 2026.

Avalyn Pharma reported its financial results for the fiscal second quarter ended June 30, 2026, revealing a net loss of $28.93 million. This represented an increase from the $26.87 million net loss reported in the prior fiscal quarter (Q1 2026). While the company's cash, cash equivalents, and marketable securities of $413.5 million provide a projected cash runway into 2029, a growing net loss for a pre-revenue biotechnology company can foster investor caution and contribute to a stock price decline after an initial period of strong performance.

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Stock Movement Drivers

Fundamental Drivers

The -17.2% change in AVLN stock from 6/30/2026 to 10/22/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610222026Change
Stock Price ($)32.9227.25-17.2%
Change Contribution By: 
Total Revenues ($ Mil)��0.0%
Net Income Margin (%)��0.0%
P/E Multiple��0.0%
Shares Outstanding (Mil)42420.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/22/2026
ReturnCorrelation
AVLN-17.2% 
Market (SPY)2.3%-2.2%
Sector (XLV)14.3%14.5%

Fundamental Drivers

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Market Drivers

3/31/2026 to 10/22/2026
ReturnCorrelation
AVLN  
Market (SPY)17.8%-1.5%
Sector (XLV)24.2%14.5%

Fundamental Drivers

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Market Drivers

9/30/2025 to 10/22/2026
ReturnCorrelation
AVLN  
Market (SPY)15.6%-1.5%
Sector (XLV)31.9%14.5%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/22/2026
ReturnCorrelation
AVLN  
Market (SPY)84.8%-1.5%
Sector (XLV)47.5%14.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AVLN Return------15%-15%
Peers Return-5%-5%52%12%96%-18%146%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
AVLN Win Rate-----29% 
Peers Win Rate42%54%42%42%60%40% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AVLN Max Drawdown------ 
Peers Max Drawdown-41%-39%-37%-39%-45%-38% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: INSM, SVRA, BMY, ARWR, CTNM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/22/2026 (YTD)

How Low Can It Go

AVLN has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2025 US Tariff Shock
  % Loss-11.7%-18.8%
  % Gain to Breakeven13.3%23.1%
  Time to Breakeven142 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-13.8%-24.5%
  % Gain to Breakeven15.9%32.4%
  Time to Breakeven166 days427 days
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-15.0%-19.2%
  % Gain to Breakeven17.6%23.8%
  Time to Breakeven191 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-15.9%-12.2%
  % Gain to Breakeven18.9%13.9%
  Time to Breakeven165 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-15.8%-17.9%
  % Gain to Breakeven18.8%21.8%
  Time to Breakeven153 days123 days

Compare to INSM, SVRA, BMY, ARWR, CTNM

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

AVLN has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

EventXLVS&P 500
2020 COVID-19 Crash
  % Loss-27.9%-33.7%
  % Gain to Breakeven38.8%50.9%
  Time to Breakeven77 days140 days
2008-2009 Global Financial Crisis
  % Loss-37.9%-53.4%
  % Gain to Breakeven61.1%114.4%
  Time to Breakeven767 days1085 days

Compare to INSM, SVRA, BMY, ARWR, CTNM

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Avalyn Pharma (AVLN)

Avalyn Pharma (AVLN) is a clinical-stage biopharmaceutical company focused on transforming the treatment of serious, rare respiratory diseases, primarily pulmonary fibrosis (PF). The company's innovative strategy involves developing optimized inhaled formulations of already approved oral antifibrotic medicines, such as pirfenidone and nintedanib. By delivering these therapies directly to the lungs, Avalyn aims to achieve higher drug concentrations at the disease site for enhanced efficacy, while significantly reducing systemic exposure and the severe side effects that lead to high discontinuation rates (around 50% within one year) with current oral treatments. This approach seeks to improve tolerability, patient adherence, and long-term disease management for a life-threatening condition affecting approximately 300,000 people in the U.S.

Avalyn's most advanced product candidates include AP01 (inhaled pirfenidone) and AP02 (inhaled nintedanib). AP01 is currently in a global Phase 2b clinical trial (MIST) for progressive pulmonary fibrosis (PPF), with over four and a half years of data from earlier trials demonstrating a favorable tolerability profile and preliminary clinical activity, including near-stabilization of lung function. AP02 is being evaluated in a global Phase 2 clinical trial (AURA) for idiopathic pulmonary fibrosis (IPF). The company is also developing AP03, a fixed-dose combination of inhaled pirfenidone and nintedanib, which is advancing into Phase 1, designed to deliver dual antifibrotic mechanisms for potentially greater therapeutic impact. These programs target the substantial market currently served by oral antifibrotics, which generated over $4 billion in gross global sales in 2024 despite their significant tolerability limitations.

AI Analysis | Feedback

Here are 1-3 brief analogies for Avalyn Pharma:

  • Avalyn Pharma is like a 'Keurig' for pulmonary fibrosis drugs, transforming effective but problematic oral medications into safer, targeted inhaled versions.
  • Avalyn Pharma is like a specialized GlaxoSmithKline or AstraZeneca for pulmonary fibrosis, bringing the next generation of inhaled therapies to patients, similar to how those companies revolutionized asthma treatment.
  • Avalyn Pharma is like a 'Dyson' for respiratory drugs, redesigning existing effective oral therapies into optimized inhaled versions for dramatically better patient experience in pulmonary fibrosis.

AI Analysis | Feedback

  • AP01: An inhaled formulation of pirfenidone being developed for the treatment of progressive pulmonary fibrosis (PPF) and idiopathic pulmonary fibrosis (IPF).
  • AP02: An inhaled formulation of nintedanib being developed for the treatment of idiopathic pulmonary fibrosis (IPF).
  • AP03: A fixed-dose combination of inhaled pirfenidone and nintedanib designed to deliver dual antifibrotic mechanisms.

AI Analysis | Feedback

Avalyn Pharma (AVLN) is a clinical-stage biopharmaceutical company. As described in the background, the company is currently focused on developing and evaluating its product candidates (AP01, AP02, and AP03) in various phases of clinical trials. They do not yet have any approved or commercialized products on the market. Therefore, Avalyn Pharma does not currently have major customers or generate sales from products.

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Lyn Baranowski, Chief Executive Officer

Ms. Baranowski brings over two decades of experience across biotech, big pharma, and venture capital, with a significant focus on immunology and respiratory therapeutic areas. Before joining Avalyn, she served as Chief Operating Officer at Altavant Sciences, a biopharmaceutical company that was acquired by Sumitomo Dainippon in 2019. She was also Vice President of Commercial Development at Pearl Therapeutics, which was sold to AstraZeneca for $1.15 billion in 2013. Her background also includes a role as Vice President at a healthcare-focused venture capital firm and senior positions in business development, marketing, and public affairs at Novartis Pharmaceuticals. Ms. Baranowski has a proven track record in capital formation, having raised nearly $750 million in private and public financings and leading multiple high-value M&A transactions.

Douglas Carlson, Chief Financial Officer and Chief Business Officer

Mr. Carlson has over 23 years of experience with a multi-disciplinary background in corporate finance, venture capital, M&A, business development, and commercial roles within both large and emerging growth biopharma companies. Prior to Avalyn, he was the CFO and COO of Avenge Bio, a clinical-stage biotech company. He also served as CFO and COO of Ikena Oncology (NASDAQ: IKNA), where he successfully led a $120 million Series B financing and a $144 million initial public offering (IPO). Earlier in his career, Mr. Carlson held senior positions at Collegium Pharmaceutical, BTG International (acquired by Boston Scientific), and Lundbeck, and was a healthcare private equity associate at Pequot Capital Management.

Melissa Rhodes, Ph.D., D.A.B.T., Chief Operating Officer

Dr. Rhodes has held leadership roles at various companies, including Kriya Therapeutics, Aerami Therapeutics, and Altavant, with a focus on the development of inhaled therapies.

Howard M. Lazarus, M.D., FCCP, Chief Medical Officer

Dr. Lazarus joined Avalyn Pharma in 2023. Previously, he was the Chief Medical Officer of Altavant Sciences (acquired by Enzyvant), where he was responsible for developing and implementing clinical development plans for candidates in pulmonary arterial hypertension (PAH) and bronchiolitis obliterans syndrome. He was also a key member of the clinical development and medical affairs team at Boehringer Ingelheim, working on the nintedanib idiopathic pulmonary fibrosis (IPF) program, and at Gilead Sciences, where he contributed to their IPF and PAH portfolios.

Adam Golden, J.D., General Counsel and Head of Business Development

Mr. Golden brings over 30 years of experience advising biopharma companies across legal, business development, and corporate strategy. Before joining Avalyn, he was a Partner and Global Head of Life Sciences at Freshfields LLP, where he founded and built out an internationally recognized life sciences practice. His previous roles include Partner and Head of the New York Corporate Practice Group at Hogan Lovells, and over two decades at Kaye Scholer, where he served as Partner and Co-Chair, Corporate Department. Mr. Golden has advised on mergers and acquisitions, strategic collaborations, corporate governance, and SEC compliance.

AI Analysis | Feedback

The key risks to Avalyn Pharma's business are primarily centered on the inherent challenges of biopharmaceutical development and market adoption.

  1. Clinical Development and Regulatory Approval Risk: Avalyn Pharma is a clinical-stage company, and the success of its business is entirely dependent on the successful completion of its ongoing and planned clinical trials, including the global Phase 2b MIST trial for AP01, the global Phase 2 AURA trial for AP02, and the planned Phase 1 trial for AP03. There is a significant risk that these product candidates may fail to demonstrate sufficient efficacy or an improved tolerability profile in clinical trials, or encounter unexpected safety concerns. Furthermore, even with positive clinical data, there is no guarantee of obtaining regulatory approval from health authorities, which would prevent the commercialization of their therapies.
  2. Commercialization and Market Acceptance Risk: Avalyn Pharma aims to address the limitations of current oral antifibrotic therapies by delivering optimized inhaled formulations directly to the lungs. However, even if successfully developed and approved, there is a risk that healthcare providers, prescribers, and patients may not adopt Avalyn's inhaled therapies as widely or as rapidly as anticipated. The market's perception of the benefit-risk profile of Avalyn's products may not align with the company's expectations, or the practicalities of an inhaled delivery method may present new challenges for patient adherence or preference, limiting commercial uptake.
  3. Competition Risk: While Avalyn Pharma focuses on improving the delivery of established antifibrotic agents, it faces competition not only from the existing approved oral therapies (pirfenidone, nintedanib, and nerandomilast) but also from a pipeline of other investigational therapies for pulmonary fibrosis. These include therapies targeting novel biological pathways that could potentially offer different or perceived superior benefits, or be developed as add-on systemic treatments. Such competition could limit the market share and commercial potential of Avalyn's product candidates if they are successfully brought to market.

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The addressable markets for Avalyn Pharma's main products are as follows:

  • For Idiopathic Pulmonary Fibrosis (IPF), the U.S. market consists of approximately 120,000 people.
  • For Progressive Pulmonary Fibrosis (PPF), the U.S. market consists of approximately 180,000 people.
  • The global market for current oral antifibrotic therapies, which Avalyn Pharma's inhaled therapies aim to improve upon, generated more than $4.0 billion in gross global sales in 2024.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Avalyn Pharma (AVLN) over the next 2-3 years:

  1. Advancement and potential commercialization of AP01: Avalyn Pharma's lead candidate, AP01, an inhaled formulation of pirfenidone, is currently undergoing a global Phase 2b clinical trial (MIST) for the treatment of progressive pulmonary fibrosis (PPF). Successful progression through clinical trials and eventual market approval would enable Avalyn to capture a share of the PPF market, offering a therapy with a potentially improved tolerability profile compared to existing oral treatments.
  2. Advancement and potential commercialization of AP02: AP02, an inhaled formulation of nintedanib, is being evaluated in AURA, a global Phase 2 clinical trial for idiopathic pulmonary fibrosis (IPF). Positive clinical trial results and subsequent regulatory approvals would allow Avalyn to enter the IPF market, addressing the significant unmet need for better-tolerated antifibrotic therapies and providing an alternative to current oral nintedanib.
  3. Increased patient adherence and market penetration due to improved tolerability: Current oral antifibrotic therapies for pulmonary fibrosis are associated with high rates of gastrointestinal and other systemic side effects, leading to approximately 50% of patients discontinuing treatment within one year. Avalyn's inhaled approach aims to significantly reduce systemic exposure, thereby improving tolerability and patient adherence. This enhanced tolerability could lead to a substantial increase in the proportion of patients actively receiving antifibrotic therapy, expanding the overall addressable market and enabling Avalyn to capture a larger patient share compared to existing options.
  4. Development and potential launch of AP03: Avalyn is advancing AP03, a fixed-dose combination of inhaled pirfenidone and nintedanib, into a Phase 1 clinical trial. If successful, AP03 could offer additive or synergistic benefits, providing a comprehensive, lung-targeted treatment with enhanced efficacy and convenience. The progression of this novel combination therapy through clinical development could represent a significant future revenue driver by establishing a new standard of care in the pulmonary fibrosis treatment paradigm.

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Share Issuance

  • Avalyn Pharma completed its initial public offering (IPO) on April 30, 2026, selling 16.67 million shares at $18.00 per share.
  • The IPO generated gross proceeds of $300.06 million.
  • Underwriters have an option to purchase an additional 2.5 million shares, which could raise an extra $45 million.

Inbound Investments

  • The company entered 2026 with $138.4 million in cash, prior to its IPO.
  • The IPO in April 2026 raised $300.06 million in gross proceeds, which Avalyn Pharma intends to use to fund late-stage studies of its inhaled respiratory drugs.

Outbound Investments

  • Avalyn Pharma's Investments and Advances were reported as $0.00 million as of December 2025.

Capital Expenditures

  • For the 12 months ending December 31, 2025, Avalyn Pharma reported depreciation and amortization of $42.00 thousand.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

AVLNINSMSVRABMYARWRCTNMMedian
NameAvalyn P.Insmed Savara Bristol .Arrowhea.Contineu. 
Mkt Price27.3094.724.5562.5058.048.0842.67
Mkt Cap1.220.61.2127.68.30.34.8
Rev LTM01,138049,1876690335
Op Inc LTM-100-813-14313,842-226-66-121
FCF LTM-97-808-11111,440-75-53-86
FCF 3Y Avg--756-9412,988-208-44-94
CFO LTM-96-779-11012,782-59-53-77
CFO 3Y Avg--733-9414,282-130-44-94

Growth & Margins

AVLNINSMSVRABMYARWRCTNMMedian
NameAvalyn P.Insmed Savara Bristol .Arrowhea.Contineu. 
Rev Chg LTM-185.8%-3.1%16.8%-16.8%
Rev Chg 3Y Avg-76.3%-2.9%913.6%-76.3%
Rev Chg Q-296.1%-5.7%171.0%-171.0%
QoQ Delta Rev Chg LTM-38.8%-1.5%7.6%-7.6%
Op Inc Chg LTM-12.4%-22.4%39.1%-109.7%-0.5%-0.5%
Op Inc Chg 3Y Avg--10.0%-48.8%22.3%-77.5%--29.4%
Op Mgn LTM--71.4%-28.1%-33.8%--33.8%
Op Mgn 3Y Avg--166.8%-21.4%-945.9%--166.8%
QoQ Delta Op Mgn LTM-46.3%-0.1%1.9%-1.9%
CFO/Rev LTM--68.5%-26.0%-8.8%--8.8%
CFO/Rev 3Y Avg--151.8%-29.9%-598.1%--151.8%
FCF/Rev LTM--71.0%-23.3%-11.2%--11.2%
FCF/Rev 3Y Avg--156.3%-27.2%-908.4%--156.3%

Valuation

AVLNINSMSVRABMYARWRCTNMMedian
NameAvalyn P.Insmed Savara Bristol .Arrowhea.Contineu. 
Mkt Cap1.220.61.2127.68.30.34.8
P/S-18.1-2.612.4-12.4
P/Op Inc-12.1-25.3-8.19.2-36.8-4.6-10.1
P/EBIT-13.0-26.0-8.19.4-52.2-4.6-10.5
P/E-12.9-23.5-8.313.7-26.0-5.3-10.6
P/CFO-12.6-26.4-10.510.0-140.9-5.7-11.5
Total Yield-7.7%-4.2%-12.1%11.2%-3.8%-18.3%-6.0%
Dividend Yield0.0%0.0%0.0%4.0%0.0%0.0%0.0%
FCF Yield 3Y Avg--4.6%-12.3%12.4%-7.8%-11.1%-7.8%
D/E0.00.00.00.40.10.00.0
Net D/E-0.3-0.0-0.10.3-0.1-0.8-0.1

Returns

AVLNINSMSVRABMYARWRCTNMMedian
NameAvalyn P.Insmed Savara Bristol .Arrowhea.Contineu. 
1M Rtn-15.9%-21.6%-14.2%1.4%-19.2%-39.7%-17.6%
3M Rtn-8.2%-11.8%-20.9%2.7%-33.1%-43.8%-16.3%
6M Rtn-7.4%-34.1%-7.9%8.2%-22.0%-34.9%-14.9%
12M Rtn-7.4%-40.9%10.7%47.1%54.2%-26.7%1.6%
3Y Rtn-7.4%280.4%43.1%28.6%135.1%-47.5%35.8%
1M Excs Rtn-7.4%-19.4%-8.4%3.9%-12.7%-34.8%-10.6%
3M Excs Rtn-5.7%-14.7%-20.8%-1.6%-35.5%-45.7%-17.8%
6M Excs Rtn-15.2%-41.9%-15.7%0.5%-29.7%-42.4%-22.7%
12M Excs Rtn-21.2%-56.4%-6.2%33.0%39.0%-40.1%-13.7%
3Y Excs Rtn-82.7%193.7%-44.9%-49.1%40.1%-119.9%-47.0%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024
Developing targeted therapies to treat rare lung diseases00
Total00


Net Income by Segment
$ Mil20252024
Developing targeted therapies to treat rare lung diseases-85-50
Total-85-50


Price Behavior

Price Behavior
Market Price$27.25 
Market Cap ($ Bil)1.2 
First Trading Date04/30/2026 
Distance from 52W High-30.6% 
   50 Days200 Days
DMA Price$31.62 
DMA Trenddown 
Distance from DMA-13.8% 
 3M1YR
Volatility58.4%64.5%
Downside Capture98.43 
Upside Capture-13.54 
Correlation (S&P 500)12.9% 
AVLN Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.290.880.06-0.67-0.11-0.44
Up Beta-0.170.851.890.851.33-0.76
Down Beta1.394.14-1.49-0.07-0.311.34
Up Capture-133%47%-43%11%5%0%
Bmk +ve Days6162766132424
Stock +ve Days112333575757
Down Capture179%71%35%36%19%11%
Bmk -ve Days16263760120328
Stock -ve Days111931484848

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AVLN
AVLN-7.6%64.5%-0.01-
Sector ETF (XLV)26.6%16.3%1.2614.5%
Equity (SPY)14.8%12.7%0.80-1.5%
Gold (GLD)-2.2%28.4%-0.094.6%
Commodities (DBC)52.1%20.7%1.912.6%
Real Estate (VNQ)4.7%13.9%0.080.4%
Bitcoin (BTCUSD)-22.4%43.4%-0.470.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AVLN
AVLN-1.6%64.5%-0.01-
Sector ETF (XLV)9.0%15.3%0.3914.5%
Equity (SPY)13.0%17.1%0.57-1.5%
Gold (GLD)17.1%18.9%0.724.6%
Commodities (DBC)9.3%19.5%0.362.6%
Real Estate (VNQ)1.1%18.9%-0.050.4%
Bitcoin (BTCUSD)8.0%51.7%0.330.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AVLN
AVLN-0.8%64.5%-0.01-
Sector ETF (XLV)11.8%16.7%0.5814.5%
Equity (SPY)15.4%17.9%0.73-1.5%
Gold (GLD)11.9%16.4%0.594.6%
Commodities (DBC)8.3%18.1%0.372.6%
Real Estate (VNQ)5.2%20.7%0.210.4%
Bitcoin (BTCUSD)63.0%66.2%1.030.8%

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Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 915202620.2%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest8.5 days
Basic Shares Quantity44.3 Mil
Short % of Basic Shares5.7%

Earnings Returns History

Updated 9/16/2026
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/12/20265.4%9.6%-2.2%
6/3/20262.6%11.5%15.6%
SUMMARY STATS   
# Positive221
# Negative001
Median Positive4.0%10.5%15.6%
Median Negative  -2.2%
Max Positive5.4%11.5%15.6%
Max Negative  -2.2%
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/12/20265.4%9.6%-2.2%
6/3/20262.6%11.5%15.6%
SUMMARY STATS   
# Positive221
# Negative001
Median Positive4.0%10.5%15.6%
Median Negative  -2.2%
Max Positive5.4%11.5%15.6%
Max Negative  -2.2%

SEC Filings

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Report DateFiling DateFiling
06/30/202608/12/202610-Q
03/31/202606/03/202610-Q
12/31/202504/30/2026424B4
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Report DateFiling DateFiling
06/30/202608/12/202610-Q
03/31/202606/03/202610-Q
12/31/202504/30/2026424B4

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2029 Cash RunwayReported     Affirmed

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Core Cache Last Updated: 10/22/2026