By Colin Kellaher

Avalyn Pharma on Wednesday plans to sell nearly 16.7 million shares at between $16 and $18 apiece in its initial public offering.

At the $17 midpoint of that range, the Boston clinical-stage biopharmaceutical company said it expects net proceeds of about $258.7 million, or roughly $298.2 million if the underwriters exercise an option to buy an additional 2.5 million shares.

Avalyn, which is developing inhaled therapies to treat rare respiratory diseases with significant unmet needs, said it believes the proceeds, coupled with its existing resources, will be sufficient to fund its operations into 2029.

Avalyn said it would have about 44.3 million shares outstanding after the IPO, assuming an exercise of the overallotment option, for a market capitalization topping $750 million at the $17-a-share pricing midpoint.

The company said it has applied to list its shares on the Nasdaq Global Market under the symbol AVLN.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

April 29, 2026 11:01 ET (15:01 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.