Avalyn Pharma Inc. (AVLN) Balance Sheet
AVLN balance sheet, 2025
December 31, 2025 · U.S. dollars$148.9M assets = $387.5M liabilities + −$238.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$238.7M).
Both columns are drawn to the same scale: what AVLN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AVLN financial health
Descriptive bands, not a rating. Fiscal 2025.
AVLN balance sheet trends, 2024–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $124.5M2024 | $148.9M2025 | +19.6%/yr | |
| Total liabilities | $299.0M2024 | $387.5M2025 | +29.6%/yr | |
| Shareholders’ equity | −$174.5M2024 | −$238.7M2025 | — | |
| Cash & short-term investments | $110.6M2024 | $138.4M2025 | +25.1%/yr | |
| Working capital | $105.6M2024 | $129.5M2025 | +$23.8M | |
| Book value per share | −$4.172024 | −$5.712025 | — | |
| Shares outstanding | 41.8M2024 | 41.8M2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVLN assets
AVLN liabilities and equity
AVLN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AVLN balance sheet
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $138.4M | $110.6M |
| Cash & equivalents | $52.3M | $24.0M |
| Short-term investments | $86.0M | $86.7M |
| Receivables | $537,000 | $0 |
| Inventory | $0 | $0 |
| Other current assets | $4.7M | $3.8M |
| Total current assets | $143.6M | $114.4M |
| Property, plant & equipment (net) | $2.3M | $94,000 |
| Goodwill & intangible assets | $0 | $0 |
| Long-term investments | $0 | $7.5M |
| Other non-current assets | $3.0M | $2.5M |
| Total assets | $148.9M | $124.5M |
| Liabilities | ||
| Accounts payable | $3.8M | $2.3M |
| Short-term debt | $444,000 | — |
| Total current liabilities | $14.1M | $8.7M |
| Long-term debt | $0 | $0 |
| Lease obligations | $1.7M | $0 |
| Other long-term liabilities | $373.4M | $290.3M |
| Total liabilities | $387.5M | $299.0M |
| Shareholders' equity | ||
| Common stock & paid-in capital | $24,000 | — |
| Retained earnings (deficit) | −$265.4M | −$180.2M |
| Accumulated other comprehensive income | $134,000 | — |
| Total shareholders' equity | −$238.7M | −$174.5M |
| Key figures | ||
| Total debt | $1.7M | — |
| Net cash (debt) | $136.7M | — |
| Working capital | $129.5M | $105.6M |
| Tangible book value | −$238.7M | −$174.5M |
| Book value per share | −$5.71 | −$4.17 |
| Shares outstanding | 41.8M | 41.8M |
| Current ratio | 10.19 | 13.08 |
| Quick ratio | 9.86 | 12.65 |
| Equity / assets | −160.3% | −140.2% |
| Jun '26 | Mar '26 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $352.4M | $123.1M |
| Cash & equivalents | $264.2M | $92.3M |
| Short-term investments | $88.2M | $30.8M |
| Receivables | $1.7M | $253,000 |
| Inventory | $0 | $0 |
| Other current assets | $3.7M | $6.6M |
| Total current assets | $357.8M | $130.0M |
| Property, plant & equipment (net) | $3.3M | $2.7M |
| Goodwill & intangible assets | $0 | $0 |
| Long-term investments | $61.1M | $0 |
| Other non-current assets | $3.2M | $3.0M |
| Total assets | $425.4M | $135.7M |
| Liabilities | ||
| Accounts payable | $2.6M | $3.1M |
| Short-term debt | $816,000 | $507,000 |
| Total current liabilities | $10.8M | $11.8M |
| Long-term debt | $14.8M | $14.8M |
| Lease obligations | $2.3M | $1.6M |
| Other long-term liabilities | $1.5M | $373.3M |
| Total liabilities | $27.1M | $399.9M |
| Shareholders' equity | ||
| Common stock & paid-in capital | $67,000 | $24,000 |
| Retained earnings (deficit) | −$321.2M | −$292.2M |
| Accumulated other comprehensive income | −$95,000 | $12,000 |
| Total shareholders' equity | $398.3M | −$264.2M |
| Key figures | ||
| Total debt | $17.1M | $16.4M |
| Net cash (debt) | $335.3M | $106.7M |
| Working capital | $347.0M | $118.2M |
| Tangible book value | $398.3M | −$264.2M |
| Book value per share | $8.99 | −$6.32 |
| Shares outstanding | 44.3M | 41.8M |
| Current ratio | 33.10 | 11.03 |
| Quick ratio | 32.76 | 10.47 |
| Debt / equity | 0.04 | — |
| Equity / assets | 93.6% | −194.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
AVLN financial position
At the end of fiscal 2025 (December 31, 2025), Avalyn Pharma had total assets of $148.9 million (up 19.6% from a year earlier), total liabilities of $387.5 million and shareholders' equity of -$238.7 million. It held $138.4 million in cash and short-term investments against $1.7 million of debt, a net cash position of $136.7 million. Its current ratio was 10.19. In the latest quarter (ended June 30, 2026) total assets were $425.4 million and equity $398.3 million.
Related: AVLN income statement, AVLN cash flow statement, AVLN key metrics. See the AVLN stock overview for the latest quote and news.
AVLN balance sheet FAQ
What are Avalyn Pharma's total assets?
Avalyn Pharma reported total assets of $148.9 million at the end of fiscal 2025 (December 31, 2025), compared with $124.5 million a year earlier.
How much debt does Avalyn Pharma have?
Avalyn Pharma had $1.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Avalyn Pharma have?
Avalyn Pharma held $138.4 million in cash and short-term investments at the end of fiscal 2025; with $1.7 million of debt that is net cash of $136.7 million.
What is Avalyn Pharma's book value?
Avalyn Pharma's shareholders' equity (book value) was -$238.7 million at the end of fiscal 2025, or −$5.71 per share.
What is Avalyn Pharma's current ratio?
Avalyn Pharma had current assets of $143.6 million and current liabilities of $14.1 million, a current ratio of 10.19 (it can cover its short-term obligations).