Cyclerion 2025 Q3 Earnings Wider Net Loss as Revenue Surges 351%

Cyclerion (CYCN) reported fiscal 2025 Q3 earnings on Nov 13, 2025, with revenue jumping 351% year-over-year but net losses widening. The stock’s post-earnings price volatility underscored its speculative profile.

Revenue

Cyclerion’s total revenue surged to $875,000 in 2025 Q3, a 351% increase from $194,000 in 2024 Q3, driven by a $800,000 purchase agreement and $75,000 from an option agreement. The purchase agreement accounted for the vast majority of revenue, reflecting a one-time or project-specific transaction, while the option agreement contributed a smaller but notable portion.

Earnings/Net Income

The company’s losses deepened to $0.30 per share in 2025 Q3, a 3.4% increase in per-share loss year-over-year, with net losses expanding to $976,000 (35% higher than $723,000 in 2024 Q3). This marked the fifth consecutive year of losses for the quarter, underscoring persistent financial challenges.

Price Action

CYCN shares saw mixed post-earnings performance: an 8.27% intraday gain, a 14.79% weekly decline, and a 39.24% monthly drop. The stock’s volatility highlights its sensitivity to earnings-related news.

Post-Earnings Price Action Review

A backtested strategy of buying CYCN shares on earnings release dates and holding for 30 days achieved a 77.78% return over three years, outperforming a 29.63% return for a simple buy-and-hold approach. This suggests that CYCN’s price movements following earnings disclosures are highly volatile and potentially exploitable for short-term gains, though such results are hypothetical and not guaranteed.

CEO Commentary

Regina Graul, Ph.D., CEO since August 2024, emphasized Cyclerion’s focus on advancing its TRD therapy pipeline and optimizing operational efficiency through strategic consulting. In the 10-Q filing, she noted, “Our licensing agreements with MIT and Akebia provide critical pathways to reduce R&D costs while accelerating development timelines.” Graul also highlighted the importance of the Fast Track designation for zagociguat in MELAS, calling it a “milestone for our rare disease portfolio.”

Guidance

Cyclerion did not provide explicit forward-looking revenue or EPS guidance for 2025 Q4. However, the company outlined a financing strategy to support TRD development, including a Form S-3 registration, and plans to hire additional C-suite executives to strengthen leadership.

Additional News

1. Leadership: Regina Graul was promoted to CEO and director in August 2024, while Rhonda Chicko joined as CFO in 2024, signaling a strategic shift in executive priorities.

2. Partnerships: An amended license agreement with Akebia for praliciguat includes amendment payments and potential milestone fees, expanding collaboration opportunities.

3. Clinical Progress: Tisento, a partner, initiated a global Phase 2b trial for zagociguat in MELAS, a rare mitochondrial disease, with FDA Fast Track designation.

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