Every 10-Q that Cyclerion Therapeutics, Inc. (CYCN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CYCN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CYCN filings page.
Cyclerion Therapeutics, Inc. reported cash and cash equivalents of $1.391 million and total assets of $6.93 million as of June 30, 2026, with stockholders’ equity of $5.087 million. For the first half of 2026 it generated no revenue and recorded a net loss of $4.932 million, versus $1.753 million a year earlier.
The company has concluded that substantial doubt exists about its ability to continue as a going concern, expecting existing cash to fund operations only until the anticipated closing of its planned merger with Korsana Biosciences. The merger would make Korsana’s neurodegeneration portfolio the primary business, supported by a concurrent Korsana financing of approximately $380.0 million.
Pre-merger Cyclerion shareholders are expected to receive contingent value rights tied to potential monetization of legacy assets, including the praliciguat license with Akebia and the Tisento equity stake. Research and development spending has been curtailed, and efforts on the treatment-resistant depression program have been suspended due to cash constraints.
Cyclerion Therapeutics reported a first-quarter 2026 net loss of $3.2M, wider than the prior year, on no revenue as operating expenses rose to $3.2M. Cash and cash equivalents were $2.8M against total assets of $8.5M, and management disclosed substantial doubt about the company’s ability to continue as a going concern beyond the third quarter of 2026 without additional funding.
The company has agreed to merge with privately held Korsana Biosciences, after which Korsana’s neurodegenerative disease programs will become the primary business and Cyclerion will be renamed Korsana Biosciences, Inc. A concurrent Korsana financing of approximately $380.0M and a Contingent Value Rights Agreement are intended to capture potential value from Cyclerion’s legacy assets for current shareholders.
Cyclerion Therapeutics (CYCN) reported Q3 2025 results. Revenue was $875,000, up from $194,000 a year ago, driven mainly by $800,000 from an Akebia material purchase. The company posted a net loss of $976,000 (vs. $723,000), while year‑to‑date net loss improved to $2.7 million from $3.6 million.
Cash and cash equivalents were $4.6 million at September 30, 2025. Stockholders’ equity stood at $9.5 million. The company raised capital through a private placement (499,998 shares for approximately $1.375 million gross) and an ATM program (604,166 shares for $1.8 million net in Q3), with an additional 111,054 ATM shares sold for about $0.3 million after quarter‑end. Shares outstanding were 3,925,314 as of November 10, 2025.
Cyclerion signed a Patent License Agreement with MIT in September 2025 related to neuropsychiatric disorders, with up to $4.4 million in potential milestones and low single‑digit royalties. The olinciguat option expired without a license. Management states cash is expected to fund operations into Q2 2026, yet there is substantial doubt about the company’s ability to continue as a going concern absent additional financing.