Cyclerion Therapeutics shares rise 33.11% premarket after entering a license agreement with MIT for treatment-resistant depression.

Cyclerion Therapeutics, Inc. rose 33.11% in premarket trading, with the company announcing a transformational relaunch as a new innovation-driven company focused on delivering potential novel, improved or first-in-class therapies for neuropsychiatric conditions with large unmet needs, beginning with treatment-resistant depression. This strategic relaunch is supported by a licensing agreement with the Massachusetts Institute of Technology, securing the intellectual property that will serve as the cornerstone of its new direction.