Quarterly ResultAug 13, 2026, 04:19 PM
Kyntra Bio Q2 Net Income $11.97M; Deconsolidates Subsidiary
AI Summary
Kyntra Bio reported a net income of $11.97 million for the second quarter of 2026, a significant improvement from a net loss of $7.60 million in the prior year, primarily driven by a $30.94 million gain from the deconsolidation of its European subsidiary due to bankruptcy. For the six months ended June 30, 2026, the company recorded a net loss of $3.22 million. The company also received a final $4.0 million payment related to the divestiture of its China operations and continues to advance its roxadustat program, aiming to initiate a Phase 3 trial in Q4 2026.
Key Highlights
- Net income for Q2 2026 was $11.97 million, compared to a net loss of $7.60 million in Q2 2025.
- Reported a $30.94 million gain on the deconsolidation of its European subsidiary, FibroGen Europe, due to bankruptcy.
- Net loss for the six months ended June 30, 2026, was $3.22 million, compared to $2.96 million in 2025.
- Total revenue for Q2 2026 was $(1.47) million, down from $1.35 million in Q2 2025.
- Loss from operations for Q2 2026 increased to $(17.57) million from $(12.05) million in Q2 2025.
- Received a final $4.0 million payment from AstraZeneca related to the August 2025 divestiture of China operations.
- Rebranded from "FibroGen, Inc." to "Kyntra Bio, Inc." in January 2026.
- Plans to initiate a Phase 3 trial for roxadustat in lower-risk MDS in Q4 2026.
Price Impact
More from KYNB