Aileron Therapeutics Reports Second Quarter 2024 Financial Results and Business Highlights Announced positive data from Cohort 1 of the ongoing Phase 1b clinical trial of LTI-03 evaluating low dose LTI-03 (2.5 mg BID) in

Aileron Therapeutics Reports Second Quarter 2024 Financial Results and

Announced positive data from Cohort 1 of the ongoing Phase 1b clinical trial of LTI-03 evaluating

low dose LTI-03 (2.5 mg BID) in idiopathic pulmonary fibrosis ( IPF ) patients, with positive trends observed in seven of the eight biomarkers evaluated

Topline results from Cohort 2 evaluating high-dose LTI-03 (5 mg BID) expected in the third quarter of

AUSTIN, Texas, Aug 14, 2024 (PR NEWSWIRE) Aileron Therapeutics, Inc. ( Aileron or the Company ) (NASDAQ:

ALRN), a biopharmaceutical company advancing a pipeline of potential first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis

indications, today reported financial results for the second quarter ended June 30, 2024, and provided a business update.

Throughout the first

half of the year, we focused on strengthening our balance sheet and advancing the development of inhaled LTI-03 in IPF, said Brian Windsor, Ph.D., President and Chief Executive Officer of Aileron.

We are extremely pleased with the positive data from Cohort 1 of the ongoing Phase 1b clinical trial announced in May, particularly the achievement of statistical significance in three out of eight biomarkers which is a testament to the

potential of LTI-03 to inhibit fibrosis and improve lung function. Additionally, in May, we raised approximately $18.2 million in net proceeds in an underwritten registered direct offering, which provides

us with the resources to further validate LTI-03 in the ongoing Phase 1b trial. We look forward to reporting topline results from the high-dose cohort in the third quarter of this year.

Second Quarter 2024 Highlights and Recent Updates

Second Quarter 2024 Financial Results

About Aileron Therapeutics

Aileron Therapeutics, Inc. is

a biopharmaceutical company advancing a novel pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis

indications. Aileron s lead product candidate, LTI-03, is a novel, synthetic peptide with a dual mechanism targeting alveolar epithelial cell survival as well as inhibition of profibrotic signaling.

Currently, LTI-03 is being evaluated in a Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis. Aileron s second product candidate, LTI-01, is

a proenzyme that has completed Phase 1b and Phase 2a clinical trials for the treatment of loculated pleural effusions. LTI-01 has received Orphan Drug Designation in the US and EU and Fast Track Designation in

Forward-Looking Statements

release may contain forward-looking statements of Aileron within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to: the timing and expectation of the topline results from Cohort 2 of the Phase

1b study of LTI-03; the sufficiency of the Company s cash resources; the projected cash runway of the Company; the status and plans for clinical trials, including the timing of data; future product

development; and the potential commercial opportunity of LTI-03 and LTI-01. We use words such as anticipate, believe, estimate,

expect, hope, intend, may, plan, predict, project, target, potential, would, can, could,

should, continue, and other words and terms of similar meaning to help identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially

from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties related to: changes in applicable laws or regulations; the possibility that the Company may be adversely affected by

other economic, business, and/or competitive factors, including risks inherent in pharmaceutical research and development, such as: adverse results in the Company s drug discovery; preclinical and clinical development activities; the risk that

the results of preclinical studies and early clinical trials may not be replicated in later clinical trials or that partial results of a trial such as the results from Cohort 1 of the Company s ongoing Phase 1b clinical trial of LTI -03 may not be indicative of the full results of the trial; the Company s ability to enroll patients in its clinical trials; and the risk that any of its clinical trials may not commence, continue or be

completed on time, or at all; decisions made by the U.S. Food and Drug Administration and other regulatory authorities; investigational review boards at clinical trial sites and publication review bodies with respect to the Company s

development candidates; competition; the sufficiency of the Company s cash resources to fund its planned activities for the periods anticipated and the Company s ability to manage unplanned cash requirements; and general economic and

market conditions; as well as the risks and uncertainties discussed in the Risk Factors section of the Company s Annual Report on Form 10-K for the year ended December 31, 2023, and the

Company s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, which are on file with the United States Securities and Exchange Commission (the SEC ) and in subsequent

filings that the Company files with the SEC. These forward-looking statements should not be relied upon as representing the Company s view as of any date subsequent to the date of this press release, and we expressly disclaim any obligation to

update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations & Media Contact:

Aileron Therapeutics, Inc.

Aileron Therapeutics, Inc.

Condensed Consolidated Statement of Operations

(In thousands, except

share and per share data)