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Kyntra Bio, Inc. reported receiving a Nasdaq notice on April 2, 2026 that it no longer meets the Nasdaq Global Select Market continued listing requirement of $50 million in total assets and total revenue under Listing Rule 5450(b)(3)(A).
The shortfall arises because revenue of FibroGen International is now presented as held for sale in discontinued operations for 2024 and 2025, and the company also does not meet the alternative shareholders’ equity or market value standards. Kyntra Bio has 45 days, until May 18, 2026, to submit a plan to regain compliance, and Nasdaq may grant up to a 180‑day extension to September 29, 2026 if the plan is accepted.
Kyntra Bio, Inc., formerly FibroGen, is a biopharmaceutical company focused on cancer and anemia, highlighted by a 2025 rebranding and new Nasdaq symbol KYNB. The company’s lead oncology asset is FG-3246, a CD46-targeting antibody-drug conjugate for metastatic castration-resistant prostate cancer, now in a Phase 2 monotherapy dose-optimization trial with an FG-3180 PET imaging companion.
Kyntra continues to develop roxadustat, already approved for chronic kidney disease anemia in multiple territories through partners, while preparing a Phase 3 trial in lower-risk myelodysplastic syndromes after FDA alignment and Orphan Drug Designation in 2025. In August 2025, it sold its China roxadustat operations to AstraZeneca for $220.4 million, retaining rights in the U.S., Canada, Mexico and other markets. Revenue is primarily driven by collaborations with Astellas and AstraZeneca, supported by a revenue-interest financing with NovaQuest and an exclusive option to acquire Fortis Therapeutics, which licensed FG-3246.
Kyntra Bio reported fourth quarter and full-year 2025 results and highlighted progress in its oncology and rare disease pipeline. The company is running a Phase 2 monotherapy trial of FG-3246 in metastatic castration-resistant prostate cancer, with an interim analysis planned in the second half of 2026, and reported encouraging investigator-sponsored combination data with enzalutamide presented at ASCO meetings.
Kyntra submitted a pivotal Phase 3 protocol for roxadustat in anemia due to lower-risk myelodysplastic syndromes to the FDA and is evaluating whether to advance this program alone or with a partner. Total revenue from continuing operations fell to $6.4 million in 2025 from $29.6 million in 2024, but the net loss from continuing operations narrowed to $58.2 million from $153.1 million, reflecting a restructuring and portfolio shift. The company ended 2025 with $109.4 million in cash, cash equivalents, investments, and accounts receivable and currently expects this to fund operating plans into 2028.
FibroGen Inc. Schedule 13G/A: Armistice Capital, LLC and Steven Boyd report beneficial ownership of 400,000 shares of common stock, representing 9.89% of the class as of 12/31/2025. The filing states Armistice Capital is the investment manager of Armistice Capital Master Fund Ltd., the direct holder, and that the Master Fund has the right to receive dividends or sale proceeds. Steven Boyd is identified as managing member of Armistice Capital and files jointly with the firm.
Kyntra Bio, Inc. reported that CEO and director Thane Wettig received a grant of stock options. On February 3, 2026, he was awarded options to purchase 60,000 shares of common stock at an exercise price of $8.50 per share, with no cash price paid for the grant itself.
The options vest in equal amounts quarterly over four years starting from February 3, 2026, and are exercisable until February 2, 2036. Following this award, Wettig beneficially owns 60,000 stock options, held directly.
Kyntra Bio, Inc. reported an option grant to its Chief Financial Officer, David DeLucia. On 02/03/2026, he was awarded a stock option for 26,000 shares of common stock at an exercise price of $8.50 per share.
The option vests in equal amounts quarterly over four years starting on 02/03/2026. Following this grant, DeLucia beneficially owns 26,000 derivative securities directly through this option award.