Cyclerion Therapeutics Inc Financials

CYCN

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Cyclerion Therapeutics Inc (CYCN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$2.0M

5Y CAGR-15.0%

Cyclerion Therapeutics Inc generated $2.0M in revenue in fiscal year 2024.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$3.1M

YoY+41.9%

Cyclerion Therapeutics Inc reported -$3.1M in net income in fiscal year 2024. This represents an increase of 41.9% from the prior year.

EPS (Diluted)

$-1.21

YoY+46.2%

Cyclerion Therapeutics Inc earned $-1.21 per diluted share (EPS) in fiscal year 2024. This represents an increase of 46.2% from the prior year.

Cash & Debt

$3.2M

YoY-57.3%

5Y CAGR-49.1%

Cyclerion Therapeutics Inc held $3.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+2.9%

5Y CAGR-37.9%

Cyclerion Therapeutics Inc had 3M shares outstanding in fiscal year 2024. This represents an increase of 2.9% from the prior year.

Gross Margin

N/A

Operating Margin

-181.4%

5Y CAGR+2592.9pp

Cyclerion Therapeutics Inc's operating margin was -181.4% in fiscal year 2024, reflecting core business profitability.

Net Margin

-152.8%

5Y CAGR+2576.4pp

Cyclerion Therapeutics Inc's net profit margin was -152.8% in fiscal year 2024, showing the share of revenue converted to profit.

Return on Equity

N/A

R&D Spending

$286K

YoY-81.1%

5Y CAGR-68.7%

Cyclerion Therapeutics Inc invested $286K in research and development in fiscal year 2024. This represents a decrease of 81.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

CYCN Income Statement

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Revenue	$2.0M	$0-100.0%	$297K-92.5%	$3.9M+71.7%	$2.3M-49.1%	$4.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$286K-81.1%	$1.5M-74.7%	$6.0M-84.1%	$37.6M-33.3%	$56.4M-40.7%	$95.1M
SG&A Expenses	$5.3M-34.3%	$8.1M-36.8%	$12.9M-37.6%	$20.6M-28.4%	$28.8M-16.2%	$34.4M
Operating Income	-$3.6M+72.0%	-$13.0M+30.1%	-$18.5M+66.4%	-$55.2M+32.1%	-$81.3M+35.0%	-$125.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$3.1M+41.9%	-$5.3M+88.1%	-$44.1M+14.7%	-$51.6M+33.6%	-$77.8M+36.8%	-$123.0M
EPS (Diluted)	$-1.21+46.2%	$-2.25+88.9%	$-20.28-1436.4%	$-1.32	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$875K+840.9%	$93K+14.8%	$81K	N/A	$194K	$0	$0	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$348K+521.4%	$56K+55.6%	$36K	N/A	$81K-22.9%	$105K+138.6%	$44K	N/A
SG&A Expenses	$1.5M-10.3%	$1.7M+13.8%	$1.5M	N/A	$1.2M-3.0%	$1.3M-18.7%	$1.6M	N/A
Operating Income	-$1.0M+39.8%	-$1.7M-14.8%	-$1.5M	N/A	-$1.1M+18.5%	-$1.4M+14.5%	-$1.6M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$976K-201.2%	-$324K+77.3%	-$1.4M	N/A	-$723K+45.3%	-$1.3M+14.3%	-$1.5M	N/A
EPS (Diluted)	$-0.30-172.7%	$-0.11+80.4%	$-0.56	N/A	$-0.29+45.3%	$-0.53+14.5%	$-0.62	N/A

CYCN Balance Sheet

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.6M-28.4%	$13.4M-26.0%	$18.1M-69.5%	$59.3M-48.6%	$115.4M-38.1%	$186.5M
Current Assets	$4.2M-47.3%	$8.0M-45.9%	$14.8M-73.3%	$55.5M-5.2%	$58.5M-42.2%	$101.2M
Cash & Equivalents	$3.2M-57.3%	$7.6M-43.4%	$13.4M-75.2%	$54.0M-0.8%	$54.4M-42.7%	$94.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$556K	$0-100.0%	$96K-4.0%	$100K	$0	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$725K-65.2%	$2.1M-72.6%	$7.6M-31.2%	$11.1M-80.2%	$55.9M-37.0%	$88.7M
Current Liabilities	$725K-65.2%	$2.1M-72.6%	$7.6M-31.2%	$11.1M-34.6%	$17.0M-7.1%	$18.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.8M-21.6%	$11.3M+8.0%	$10.5M-78.3%	$48.2M-18.9%	$59.5M-39.1%	$97.7M
Retained Earnings	-$267.5M-1.2%	-$264.4M-2.0%	-$259.2M-20.5%	-$215.1M-31.6%	-$163.4M-90.9%	-$85.6M

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$10.4M+11.2%	$9.4M-4.8%	$9.8M+2.8%	$9.6M+7.6%	$8.9M-11.6%	$10.1M-11.4%	$11.4M-15.0%	$13.4M
Current Assets	$5.1M+26.0%	$4.0M-10.6%	$4.5M+6.4%	$4.2M+19.1%	$3.5M-24.8%	$4.7M-21.6%	$6.0M-25.0%	$8.0M
Cash & Equivalents	$4.6M+52.0%	$3.0M-17.4%	$3.6M+12.6%	$3.2M+12.5%	$2.9M-37.4%	$4.6M-19.5%	$5.7M-24.8%	$7.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$100K-81.0%	$525K-9.6%	$581K+4.5%	$556K+1163.6%	$44K	N/A	N/A	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$877K+9.6%	$800K-25.0%	$1.1M+47.2%	$725K+3.6%	$700K-45.4%	$1.3M-11.0%	$1.4M-30.9%	$2.1M
Current Liabilities	$877K+9.6%	$800K-25.0%	$1.1M+47.2%	$725K+3.6%	$700K-45.4%	$1.3M-11.0%	$1.4M-30.9%	$2.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.5M+11.3%	$8.6M-2.4%	$8.8M-0.8%	$8.8M+8.0%	$8.2M-6.7%	$8.8M-11.5%	$9.9M-12.1%	$11.3M
Retained Earnings	-$270.2M-0.4%	-$269.2M-0.1%	-$268.9M-0.5%	-$267.5M+0.2%	-$268.0M-0.3%	-$267.3M-0.5%	-$266.0M-0.6%	-$264.4M

CYCN Cash Flow Statement

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$4.3M+79.6%	-$21.2M+47.7%	-$40.6M-11.2%	-$36.5M+49.6%	-$72.5M+29.1%	-$102.2M
Capital Expenditures	N/A	N/A	$0-100.0%	$7K-99.5%	$1.5M-77.9%	$6.9M
Free Cash Flow	N/A	N/A	-$40.6M-11.2%	-$36.5M+50.7%	-$74.0M+32.2%	-$109.1M
Investing Cash Flow	$0-100.0%	$10.4M	$0-100.0%	$1.5M+7994.4%	$18K+100.3%	-$6.7M
Financing Cash Flow	$0-100.0%	$5.0M+17224.1%	$29K-99.9%	$30.8M+9.6%	$28.1M-86.7%	$211.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	-$968K	N/A	N/A	N/A	-$1.9M	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	$1.4M	N/A	N/A	N/A	$0	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CYCN Financial Ratios

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-181.4%	N/A	-6242.4%-4842.2pp	-1400.2%+2139.2pp	-3539.4%-765.1pp	-2774.3%
Net Margin	-152.8%	N/A	-14841.1%-13530.9pp	-1310.2%+2078.4pp	-3388.6%-659.3pp	-2729.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-31.9%+7.4pp	-39.4%+204.5pp	-243.8%-156.8pp	-87.1%-19.6pp	-67.4%-1.5pp	-66.0%
Current Ratio	5.83+2.0	3.85+1.9	1.94-3.1	5.00+1.6	3.45-2.1	5.55
Debt-to-Equity	0.08-0.1	0.18-0.5	0.73+0.5	0.23-0.7	0.94+0.0	0.91
FCF Margin	N/A	N/A	-13673.7%-12747.2pp	-926.5%+2297.1pp	-3223.6%-802.9pp	-2420.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-115.0%+1682.9pp	-1797.9%+0.9pp	-1798.8%	N/A	-581.4%	N/A	N/A	N/A
Net Margin	-111.5%+236.8pp	-348.4%+1415.8pp	-1764.2%	N/A	-372.7%	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-9.4%-5.9pp	-3.5%+11.1pp	-14.5%	N/A	-8.1%+5.0pp	-13.1%+0.4pp	-13.6%	N/A
Current Ratio	5.78+0.8	5.03+0.8	4.21-1.6	5.83+0.8	5.07+1.4	3.68-0.5	4.17+0.3	3.85
Debt-to-Equity	0.090.0	0.09-0.0	0.12+0.0	0.080.0	0.09-0.1	0.150.0	0.15-0.0	0.18
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Financial Health Signals

Piotroski F-Score Weak

3/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Low Quality

1.42x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

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Frequently Asked Questions

What is Cyclerion Therapeutics Inc's annual revenue?

Cyclerion Therapeutics Inc (CYCN) reported $2.0M in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Cyclerion Therapeutics Inc profitable?

No, Cyclerion Therapeutics Inc (CYCN) reported a net income of -$3.1M in fiscal year 2024, with a net profit margin of -152.8%.

What is Cyclerion Therapeutics Inc's earnings per share (EPS)?

Cyclerion Therapeutics Inc (CYCN) reported diluted earnings per share of $-1.21 for fiscal year 2024. This represents a 46.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Cyclerion Therapeutics Inc's operating margin?

Cyclerion Therapeutics Inc (CYCN) had an operating margin of -181.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Cyclerion Therapeutics Inc's net profit margin?

Cyclerion Therapeutics Inc (CYCN) had a net profit margin of -152.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Cyclerion Therapeutics Inc's operating cash flow?

Cyclerion Therapeutics Inc (CYCN) generated -$4.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Cyclerion Therapeutics Inc's total assets?

Cyclerion Therapeutics Inc (CYCN) had $9.6M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Cyclerion Therapeutics Inc spend on research and development?

Cyclerion Therapeutics Inc (CYCN) invested $286K in research and development during fiscal year 2024.

How many shares does Cyclerion Therapeutics Inc have outstanding?

Cyclerion Therapeutics Inc (CYCN) had 3M shares outstanding as of fiscal year 2024.

What is Cyclerion Therapeutics Inc's current ratio?

Cyclerion Therapeutics Inc (CYCN) had a current ratio of 5.83 as of fiscal year 2024, which is generally considered healthy.

What is Cyclerion Therapeutics Inc's debt-to-equity ratio?

Cyclerion Therapeutics Inc (CYCN) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cyclerion Therapeutics Inc's return on assets (ROA)?

Cyclerion Therapeutics Inc (CYCN) had a return on assets of -31.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Cyclerion Therapeutics Inc's cash runway?

Based on fiscal year 2024 data, Cyclerion Therapeutics Inc (CYCN) had $3.2M in cash against an annual operating cash burn of $4.3M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Cyclerion Therapeutics Inc's Piotroski F-Score?

Cyclerion Therapeutics Inc (CYCN) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Cyclerion Therapeutics Inc's earnings high quality?

Cyclerion Therapeutics Inc (CYCN) has an earnings quality ratio of 1.42x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.