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Idiopathic Pulmonary Fibrosis: 7 biotech companies competing in the clinic

Immunology & InflammationGold rushData as of 2026-09-04

Competitors7in the clinic
Median market cap$1.3Buniverse median $1.20B
Allocated capital$5.8B$8.1B competing
Phase 3 or filed16 mid, 0 early
Pure plays4this indication only
Capital rank31/299crowding rank 19

Idiopathic Pulmonary Fibrosis is both crowded and richly priced: 7 companies are in the clinic and the median one is worth $1.3B, against a universe median of $1.20B.

Crowded fields usually trade at a discount per company, so a premium in a field this deep says the market is pricing the size of the prize above the cost of the competition.

No one owns the field: the largest company, TRVI, holds only 30% of the $8.1B competing here.

$5.8B of allocated capital sits in Idiopathic Pulmonary Fibrosis, 31st of 299 indications, and 4 of the 7 companies are pure plays that trade on this indication alone.

Companies developing drugs for Idiopathic Pulmonary Fibrosis 7

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
TRVITrevi TherapeuticsNALPhase 31$2.4BYes1 7 Sep 2026
SNDXSyndax PharmaceuticalsAxatilimabPhase 21$1.8BNo4 31 Dec 2026
AVLNAvalyn PharmaAP02Phase 21$1.6BYes1 31 Dec 2027
MNKDMannKindNintedanib DryPhase 21$1.3BNo3 31 Dec 2027
CTNMContineum TherapeuticsPIPE-791 Dose APhase 22$579MYes1No dated event
VCREVCREBuloxibutidPhase 21$325MYes1No dated event
CPIXCumberland PharmaceuticalsIfetrobanPhase 21$101MNo2No dated event

Sorted by phase, then by market capitalisation. Ticker links open the company profile. TRVI holds 30% of the $8.1B competing in this indication.

Why Idiopathic Pulmonary Fibrosis is a gold rush

Crowded and richly priced: six or more competitors, and the median one is worth more than the median small or mid cap biotech.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Idiopathic Pulmonary Fibrosis has 7 competitors and a median of $1.3B.

Immunology & Inflammation

Immunology & Inflammation holds $139B of the map's capital, 20.7% of the total, spread across 51 indications and 82 companies. 23 of those indications have more than one company competing.

See every Immunology & Inflammation indication on the map

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Idiopathic Pulmonary Fibrosis pipeline questions

Which biotech companies are developing drugs for Idiopathic Pulmonary Fibrosis?

7 US-listed companies in the $100M to $20B market cap band run clinical programmes in Idiopathic Pulmonary Fibrosis. The largest and most advanced are Trevi Therapeutics (TRVI, NAL, Phase 3); Syndax Pharmaceuticals (SNDX, Axatilimab, Phase 2); Avalyn Pharma (AVLN, AP02, Phase 2); MannKind (MNKD, Nintedanib Dry, Phase 2); Contineum Therapeutics (CTNM, PIPE-791 Dose A, Phase 2). The full list of 7 is in the table on this page.

How advanced is the Idiopathic Pulmonary Fibrosis pipeline?

Of the 7 clinical-stage programmes in Idiopathic Pulmonary Fibrosis, 1 is in Phase 3 or filed, 6 are in mid-stage development and 0 are in early-stage development.

How much is the typical Idiopathic Pulmonary Fibrosis biotech company worth?

The median company developing a drug for Idiopathic Pulmonary Fibrosis is worth $1.3B, against a median of $1.20B across the whole universe. $5.8B of allocated capital sits in the indication, ranking it 31st of 299.

When is the next Idiopathic Pulmonary Fibrosis catalyst?

The next dated catalyst in Idiopathic Pulmonary Fibrosis is TRVI on 7 Sep 2026. 2 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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