FMR LLC discloses 13.2% Avalyn Pharma (AVLN) ownership; F-Prime holds 5.2%

Rhea-AI Filing Summary

FMR LLC filed an amended Schedule 13G reporting beneficial ownership of 5,835,259 Common Shares of Avalyn Pharma Inc., representing 13.2% of the class as of June 30, 2026. FMR reports sole dispositive power over all 5,835,259 shares and no shared voting or dispositive power.

Abigail P. Johnson is also reported as a beneficial owner with sole dispositive power over the same 5,835,259 shares, representing 13.2% of the outstanding common stock. Within this holding, F-Prime Capital Partners Healthcare Fund V LP holds 2,284,535 shares, or 5.2% of Avalyn Pharma’s outstanding common stock.

Key Figures

Beneficial ownership: 5,835,259 shares Percent of class: 13.2% Sole dispositive power: 5,835,259 shares +3 more

6 metrics

Beneficial ownership 5,835,259 shares Common Shares of Avalyn Pharma Inc. beneficially owned by FMR LLC

Percent of class 13.2% Percentage of Avalyn Pharma Inc. common stock represented by 5,835,259 shares

Sole dispositive power 5,835,259 shares Shares over which FMR LLC and Abigail P. Johnson have sole dispositive power

F-Prime holdings 2,284,535 shares Common stock of Avalyn Pharma Inc. held by F-Prime Capital Partners Healthcare Fund V LP

F-Prime percent of class 5.2% F-Prime Capital Partners Healthcare Fund V LP’s interest in Avalyn’s outstanding common stock

Reference date June 30, 2026 Date as of which the ownership percentages and share counts are stated

Key Terms

beneficially owned, sole dispositive power, Schedule 13G, parent holding company, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: 5,835,259.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power financial

"Sole Dispositive Power 5,835,259.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"Please see Exhibit 99 for 13d-1(k) (1) agreement."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

parent holding company financial

"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"

percent of class financial

"Percent of class: 13.2%"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What percentage of Avalyn Pharma Inc. (AVLN) shares does FMR LLC report owning?

FMR LLC reports beneficial ownership of 13.2% of Avalyn Pharma Inc.’s common shares, totaling 5,835,259 shares as of June 30, 2026. This ownership is reported on an amended Schedule 13G filing.

How many Avalyn Pharma Inc. (AVLN) shares are beneficially owned by FMR LLC?

FMR LLC reports beneficial ownership of 5,835,259 Avalyn Pharma Inc. common shares. This stake represents 13.2% of the company’s outstanding common stock as of June 30, 2026, with sole dispositive power over all reported shares.

What is Abigail P. Johnson’s reported ownership in Avalyn Pharma Inc. (AVLN)?

Abigail P. Johnson is reported as having sole dispositive power over 5,835,259 Avalyn Pharma Inc. shares, representing 13.2% of the common stock. She has no reported sole or shared voting power over these shares in the filing.

How many Avalyn Pharma Inc. (AVLN) shares are held by F-Prime Capital Partners Healthcare Fund V LP?

F-Prime Capital Partners Healthcare Fund V LP holds 2,284,535 Avalyn Pharma Inc. common shares. This position amounts to 5.2% of Avalyn’s total outstanding common stock as of June 30, 2026, within FMR LLC’s reported holdings.

Does FMR LLC report any shared voting or dispositive power in Avalyn Pharma Inc. (AVLN) shares?

FMR LLC reports no shared voting power and no shared dispositive power over Avalyn Pharma Inc. shares. The filing shows sole dispositive power over 5,835,259 shares and refers to cover-page details for sole voting power.

What is the class of securities and CUSIP reported for Avalyn Pharma Inc. (AVLN)?

The filing covers Avalyn Pharma Inc. Common Shares with CUSIP number 05348Y105. FMR LLC and Abigail P. Johnson report their beneficial ownership of this class of securities on an amended Schedule 13G.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Avalyn Pharma Inc.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

05348Y105

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 05348Y105

1

Names of Reporting Persons

FMR LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,762,944.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,835,259.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,835,259.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 05348Y105

1

Names of Reporting Persons

Abigail P. Johnson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,835,259.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,835,259.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.2 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Avalyn Pharma Inc.
(b)	Address of issuer's principal executive offices: 105 W FIRST ST., 105 W FIRST ST., BOSTON, MASSACHUSETTS, 02127.
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 05348Y105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,835,259.00
(b)	Percent of class: 13.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 5,835,259.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from COMMON STOCK of AVALYN PHARMA INC. The interest of F-Prime Capital Partners Healthcare Fund V LP, in the COMMON STOCK of AVALYN PHARMA INC, amounted to 2,284,535.00 shares or 5.2% of the total outstanding COMMON STOCK at June 30, 2026.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMR LLC

Signature:	Stephanie Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	08/05/2026

Abigail P. Johnson

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson**
Date:	08/05/2026

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.