Aileron Therapeutics Reports Third Quarter 2024 Financial Results and Recent Business Highlights Announced promising safety and positive biomarker data from Cohort 2 (5mg BID) of the Phase 1b clinical trial of LTI-03 in

Aileron Therapeutics Reports Third Quarter 2024 Financial Results and Recent Business Highlights

Announced promising safety and positive biomarker data from Cohort 2 (5mg BID) of the Phase 1b clinical trial of LTI-03 in idiopathic pulmonary fibrosis (IPF) patients demonstrating dose dependent effects in five biomarkers evaluated compared to low dose LTI-03

Data from Cohort 2 of the Phase 1b clinical trial confirms results from Cohort 1, with four biomarkers achieving statistical significance in

the combined Cohort 1 and Cohort 2 data set

Planning is underway for a Phase 2 clinical trial

AUSTIN, Texas, Nov. 14, 2024 (PR NEWSWIRE) Aileron Therapeutics, Inc. ( Aileron ) (NASDAQ: ALRN), a biopharmaceutical company

advancing a novel pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications, today reported financial

results for the third quarter ended September 30, 2024, and provided a business update.

This past quarter has been one of significant progress

for Aileron, as evidenced by our recent announcement of positive data from Cohort 2 of our Phase 1b clinical trial evaluating a higher dose of LTI-03 (5 mg BID) in patients with IPF, in which high dose LTI-03 demonstrated dose dependent effects in five biomarkers, said Brian Windsor, Ph.D., President and Chief Executive Officer of Aileron. We were highly encouraged that the combined data set from

Cohort 1 and 2 achieved statistical significance in four out of eight biomarkers evaluated in the trial, which along with promising safety and tolerability data, reinforce the potential of LTI-03 to improve

lung function and reverse the course of the disease.

Third Quarter 2024 Highlights and Recent Updates

Third Quarter 2024 Financial Results

About Aileron Therapeutics

Aileron Therapeutics 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. LTI-03 completed 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 the US.

Forward-Looking Statements

This press release may contain forward-looking statements of Aileron Therapeutics, Inc. ( Aileron , the Company , we ,

our or us ) within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to: the timing and expectation of a Phase 2 trial of LTI-03;

future expectations, plans and prospects for the Company; the sufficiency of the Company s cash resources; the projected cash runway of the Company; 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,

including in a Phase 2 trial of LTI-03, or that partial results of a trial will 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 our development candidates; our ability to obtain, maintain and enforce intellectual property rights for our platform and 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 Quarterly Report on Form 10-Q for the quarter

ended September 30, 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)