The company entered into an underwriting agreement to sell 11,600,000 shares of common stock at a public offering price of $13.00 per share. Underwriters have a 30-day option to purchase an additional 1,740,000 shares. Estimated net proceeds are approximately $141.1 million, potentially rising to $162.4 million if the over-allotment option is fully exercised. The offering is expected to close on or about April 20, 2026. Proceeds will be used to fund operating expenses and capital expenditures through 2029, including Phase 3 trials for Haduvio in IPF-related chronic cough.