Quarterly ResultMay 12, 2026, 04:13 PM
Kyntra Bio Reports Q1 Net Loss of $15.2M; Revenue Up 36%
AI Summary
Kyntra Bio, Inc. reported a net loss of $15.2 million for the first quarter of 2026, a significant change from a net income of $4.6 million in the prior year. Total revenue increased by 36% to $3.7 million, driven by higher drug product revenue, but was offset by a substantial increase in cost of goods sold and a shift to net cash used in operating activities. The company also noted its rebranding from FibroGen, Inc. in January 2026 and its continued focus on oncology and rare disease assets, including advancing its FG-3246 and roxadustat programs.
Key Highlights
- Net loss was $15.2 million for Q1 2026, compared to net income of $4.6 million in Q1 2025.
- Total revenue increased 36% to $3.7 million in Q1 2026 from $2.7 million in Q1 2025.
- Drug product revenue, net, rose to $3.5 million in Q1 2026 from $2.6 million in Q1 2025.
- Cost of goods sold significantly increased to $4.1 million in Q1 2026 from $0.3 million in Q1 2025.
- Net cash used in operating activities was $13.9 million in Q1 2026, compared to $2.7 million provided in Q1 2025.
- Cash and cash equivalents decreased to $37.0 million as of March 31, 2026, from $47.9 million at December 31, 2025.
- The company rebranded from FibroGen, Inc. to Kyntra Bio, Inc. in January 2026.
- FDA granted roxadustat Orphan Drug Designation for MDS in December 2025.
Price Impact
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