Cyclerion Therapeutics, Inc. (CYCN) stock soared 8.49% in the current market trading session at the price of $2.89 despite no fundamental reason. CYCN is a clinical-stage biopharmaceutical firm that develops treatments and technologies to renovate cognitive faculty.
Data Publication Brain-Penetrant sGC Stimulator
On 22nd September 2021, CYCN announced that it had published the data explaining the administration of its soluble guanylate cyclase stimulator. The technology decreases markers linked with neuroinflammation in various preclinical models. Neuroinflammation is the main symptom of Alzheimer’s disease and many other CNS diseases.
Management Comments
Head of Translational Medicine at CYCN, Chris Winrow, remarked that this study had increased their comprehension of the pharmacology of brain-penetrant sGC stimulation. The research provides additional support for their investigational therapeutics. The preclinical and clinical data confirm the advancement and efficiency of both CY6463 and CY3018. These preclinical data explain that their approach can overcome neuroinflammation, the leading contributor to serious CNS diseases. Administration of CY6463 and the brain- penetrant sGC stimulators have shown positive results on various dimensions of brain neurophysiology. They are excited to continue CY6463 clinical studies to fully understand its potential and provide a meaningful clinical benefit to individuals with CNS diseases.
CYCN Second Quarter 2021 Financial Results
On 29th July 2021, CYCN announced its financial results for the second quarter of 2021 and provided general corporate updates.
CYCN Financial Highlights
CYCN reported cash, cash equivalents, and a restricted cash balance of $70 million on 30th June 2021. The total cash balance was approximately $45 million on 31st March 2021. Research and development expenses were $12.1 million for the second quarter ended 30th June 2021. R&D expenses were $13.8 million for the second quarter of the previous year. For the second quarter of 2021, general and administrative expenses were $6.2 million. G&A expenses were $6.6 million for the same quarter of the last year. Net loss was $16.2 million for the second quarter ended 30th June 2021. For the second quarter of 2020, the net loss was $19.5 million.
Management Comments
Chief Executive Officer of CYCN, Peter Hecht, remarked that they had made significant clinical progress towards their lead program CY6463 for various neurological diseases. This positive momentum includes various start-up activities for a clinical study in patients with Cognitive Impairment Associated with Schizophrenia. They have also performed additional preclinical activities to advance CY3018 into clinical development to treat specific neurological diseases.
