Health

Novo-Backed Drugmaker Avalyn Soars 64% After Trading Debut

Avalyn CEO Lyn Baranowski, center, rings the opening bell during the company's IPO at the Nasdaq MarketSite in New York on April 30. — Avalyn CEO Lyn Baranowski, center, rings the opening bell during the company's IPO at the Nasdaq MarketSite in New York on April 30.
Photographer: Michael Nagle/Bloomberg

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By Avalon Pernell

April 30, 2026 at 4:36 PM UTC

Updated on

April 30, 2026 at 8:22 PM UTC

Avalyn Pharma Inc. shares jumped 64% in its trading debut, after the biopharmaceutical company raised $300 million in an upsized US initial public offering.

The company’s shares closed at $29.49 in New York, above its IPO price of $18 apiece. The trading gives the developer of inhaled treatments for rare lung diseases a market value of about $1.2 billion, based on the outstanding shares listed in its filings.