Cyclerion shares surge 46.01% after-hours on strategic Medsteer collaboration to co-develop anesthetic delivery system and secure exclusive licensing option.

Cyclerion Therapeutics Inc. (NASDAQ: CYCN) surged 46.01% in after-hours trading following the announcement of a strategic collaboration and option agreement with Medsteer to co-develop a closed-loop anesthetic delivery system. The partnership, which includes a non-exclusive development license and an exclusive option for future commercialization, aims to integrate Medsteer’s real-time patient feedback technology into Cyclerion’s CYC-126 program for treatment-resistant depression. The deal also involves potential milestone payments of up to $3.7 million and royalties on net sales. The news, coupled with earlier reports of a 53.62% intraday gain driven by clinical trial optimism and a 44.2% pre-market surge, reflects strong investor confidence in Cyclerion’s innovation in mental health and anesthetic technologies. The collaboration is positioned to accelerate CYC-126’s development timeline, with a Phase 2 study anticipated by late 2026.