Earnings summaries and quarterly performance for Cyclerion Therapeutics.
Executive leadership at Cyclerion Therapeutics.
Board of directors at Cyclerion Therapeutics.
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Cyclerion Therapeutics Announces Medsteer Collaboration and CYC-126 Phase 2 Study Timeline
CYCN
New Projects/Investments
Guidance Update
- Cyclerion Therapeutics announced a strategic collaboration with Medsteer to integrate Medsteer's proprietary closed-loop anesthetic delivery technology into CYC-126, its lead investigational therapy for treatment-resistant depression (TRD).
- The company plans to initiate a Phase 2 Proof-of-Concept (POC) study for CYC-126 in the second half of 2026, with initial data expected in 2027 and full data in 2028.
- Under the collaboration agreement, Medsteer is eligible to receive up to $3.7 million in development, regulatory, and sales milestone payments, in addition to annual and low single-digit net sales royalties.
- Cyclerion's financial position and capital needs are detailed in the table below.
| Metric | Q3 2025 | 1H 2026 | FY 2027 | FY 2028 |
|---|---|---|---|---|
| Cash Balance ($USD Millions) | $4.6 | N/A | N/A | N/A |
| Praliciguat Milestone Payment ($USD Millions) | N/A | $1.0 | N/A | N/A |
| Capital Needed to Initial POC Data ($USD Millions) | N/A | N/A | $20.0 | N/A |
| Capital Needed to Full POC Data ($USD Millions) | N/A | N/A | N/A | $50.0 |
Jan 6, 2026, 1:33 PM
Cyclerion Therapeutics Relaunches as Neuropsychiatric Company with MIT Licensing Agreement
CYCN
New Projects/Investments
Product Launch
- Cyclerion Therapeutics, Inc. announced its relaunch as a neuropsychiatric company focused on developing therapies for conditions like treatment-resistant depression (TRD).
- This transformation is underpinned by a licensing agreement with the Massachusetts Institute of Technology (MIT), securing intellectual property for its lead program.
- The lead program, which targets TRD, is Phase 2-ready, with the initiation of a Phase 2 proof-of-concept trial expected in 2026 and initial data anticipated in 2027.
- Under the license agreement, MIT will receive a nominal upfront payment, up to $4.4 million in development, regulatory, and sales milestone payments, and tiered royalties in the low single digits based on future net sales of licensed products.
Sep 23, 2025, 8:14 PM
Quarterly earnings call transcripts for Cyclerion Therapeutics.
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