Avalyn Pharma, a biotechnology company specializing in lung fibrosis, priced its IPO at $18, raising $300 million. It will debut on the Nasdaq tonight.

According to the Wise Finance app, Avalyn Pharma (AVLN.US) is a biotechnology company in the second phase of clinical trials, focusing on the development of inhaled drugs for rare respiratory diseases. The company raised $300 million by issuing 16.7 million shares at a price of $18 per share, which is at the upper limit of the previously announced price range of $16 to $18 per share. Initially planning to issue 11.8 million shares at the same price range, the company expanded the offering on April 29th. At this pricing, the fully diluted market value of the company is $813 million. Avalyn's stock is expected to officially begin trading on the Nasdaq Global Select Market on Thursday, April 30th.