Airway Therapeutics

Executive Summary

Airway Therapeutics is a private biopharmaceutical company pioneering immune-modulating therapies for respiratory, inflammatory, and infectious diseases. Its lead candidate, zelpultide alfa, is a first-in-class biologic designed to break the cycle of dysregulated inflammation and infection by modulating immune responses at the source. The company is currently in Phase 3 development, targeting conditions such as bronchopulmonary dysplasia (BPD) in preterm infants and other severe respiratory diseases. By restoring immune balance, zelpultide alfa has the potential to reduce inflammation, prevent secondary infections, and improve patient outcomes. Airway Therapeutics is based in Cincinnati, Ohio, and was founded in 2011. With a novel mechanism of action and a clear unmet need, the company represents a compelling opportunity in respiratory biologics, though it remains pre-revenue and dependent on clinical success.

Upcoming Catalysts (preview)

• Q4 2026Phase 3 top-line data for zelpultide alfa in BPD60% success
• Q2 2027Initiation of Phase 3 trial in ARDS (acute respiratory distress syndrome)70% success
• H2 2026Potential partnering or licensing deal for ex-US rights50% success