AcquisitionsMay 7, 2026, 06:11 AM
Gyre Therapeutics Acquires Cullgen; Q1 Revenue $22.5M, EPS $(0.10)
AI Summary
Gyre Therapeutics announced its first quarter 2026 financial results and provided a business update. The company reported $22.5 million in revenue and a GAAP basic EPS of $(0.10) for the quarter, compared to $22.1 million revenue and $0.03 EPS in the prior year. Gyre affirmed its full-year 2026 revenue guidance of $100.5 million to $111.0 million. A significant corporate development was the completion of the approximately $300 million all-stock acquisition of Cullgen Inc. in May 2026, expanding Gyre's pipeline into inflammatory diseases and cancers. Additionally, the company submitted an NDA for F351 in China, which received priority review, and initiated a Phase 2/3 trial for ETUARYTM.
Key Highlights
- Completed acquisition of Cullgen Inc. for approximately $300 million in an all-stock transaction.
- Q1 2026 revenue was $22.5 million, a 2% increase from $22.1 million in Q1 2025.
- GAAP basic EPS for Q1 2026 was $(0.10), compared to $0.03 in Q1 2025.
- Affirmed full-year 2026 revenue guidance of $100.5 million to $111.0 million.
- Cash and cash equivalents totaled $79.2 million as of March 31, 2026, up 4% from Q4 2025.
- Selling and marketing expense increased 30% to $14.1 million in Q1 2026.
- Research and development expense increased 118% to $6.7 million in Q1 2026.
- NDA for F351 submitted to China’s CDE in March 2026, granted priority review.