AcquisitionsJul 15, 2026, 05:11 PM
Gyre Therapeutics Files Pro Forma Financials for $300M Cullgen Acquisition
AI Summary
Gyre Therapeutics, Inc. filed an amendment to its 8-K, including financial statements for Cullgen Inc. and unaudited pro forma condensed combined financial statements following its all-stock acquisition of Cullgen on May 4, 2026. The acquisition valued Cullgen at approximately $300 million and is accounted for as a common control transaction. The filing provides combined financial data as if the merger occurred earlier, along with Cullgen's historical 2025 financials.
Key Highlights
- Acquired Cullgen Inc. in an all-stock transaction valued at approximately $300 million.
- Merger with Cullgen was effective May 4, 2026, treated as a common control transaction.
- Pro forma combined assets as of March 31, 2026, totaled $206,567 thousand.
- Pro forma combined revenues for the three months ended March 31, 2026, were $24,430 thousand.
- Pro forma combined loss from operations for the three months ended March 31, 2026, was $(18,972) thousand.
- Cullgen's collaboration revenue for the year ended December 31, 2025, was $15,373 thousand.
- Cullgen reported a net loss of $(10,805) thousand for the year ended December 31, 2025.
- Cullgen's accumulated deficit as of December 31, 2025, was $132,179 thousand.
Price Impact
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