Cyclerion shares surge 311.61% after-hours after announcing merger with Korsana and $380 million private financing.

Cyclerion Therapeutics surged 311.61% in after-hours trading following the announcement of a definitive merger agreement with Korsana Biosciences, a privately-held biotech firm focused on neurodegenerative diseases. The all-stock transaction will result in a combined company operating under the name Korsana Biosciences and trading under the ticker "KRSA." The deal, supported by a $380 million private financing led by top-tier investors, is expected to fund Korsana’s operations through 2029 and advance its lead Alzheimer’s candidate, KRSA-028, through key clinical milestones. The merger signals a strategic shift for Cyclerion and highlights strong investor confidence in Korsana’s pipeline and financial backing.