The revenue decline and widening net loss confirm the transition-year thesis. Watch for NDA approval decision on F351 (hydronidone) in H2 2026 — that catalyst could offset the bearish financials. The Cullgen acquisition adds pre-revenue pipeline costs without near-term revenue contribution. Monitor cash burn rate closely given $12.9M cash decline in 6 months.
Price Chart
Executive Summary
Gyre Therapeutics reported Q2 2026 revenue of $29.1 million (down 2% YoY) and a GAAP basic EPS of $(0.12) vs consensus estimate of $(0.08), missing widely. The company affirmed full-year 2026 revenue guidance of $100.5M-$111.0M (representing a 5-14% YoY decline) and highlighted the closing of the Cullgen acquisition and NDA acceptance for F351 (hydronidone) in China. The earnings miss, widening operating loss ($14.4M vs $2.2M loss a year ago), and affirmed declining guidance signal financial deterioration despite the pipeline progress.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $29.1M, down 2% YoY from $29.7M (recast for Cullgen merger)
- GAAP basic EPS $(0.12) vs consensus estimate $(0.08) — a miss of 50%
- Net loss of $14.3M, widened from a $2.2M loss in Q2 2025
- Full-year 2026 revenue guidance affirmed at $100.5M-$111.0M, down 5-14% from 2025's $116.6M
- Cullgen acquisition closed May 4, 2026 for ~$300M in stock; added R&D spending and transaction costs
- NDA for F351 (hydronidone) for CHB-induced liver fibrosis accepted by China's CDE in May 2026
- Cash position $103.2M as of June 30, 2026, down 11% from $116.1M at year-end 2025
- ETUARY sales $28.0M, up 19% YoY ($23.5M), but Etorel and Contiva sales declined significantly
Financial Impact
Q2 revenue miss of ~$2.6M vs $26.5M consensus; EPS miss of $(0.04) vs $(0.08) consensus; operating loss widened by $12.1M YoY
Risk Factors
- Full-year 2026 revenue guidance implies 5-14% decline, driven by Astellas collaboration wind-down and weaker Contiva/Etorel sales
- Operating cash flow turned deeply negative post-Cullgen acquisition (R&D spend +$10.8M QoQ)
- Share count increased 13% YoY (100.6M vs 89.1M weighted avg basic shares), diluting existing holders
- National centralized drug procurement in China suppresses Contiva/Etorel pricing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-339223 |
| Document: gyre-20260807.htm | 0001193125-26-339223 |
| Document: 0001193125-26-339223-index-headers.html | 0001193125-26-339223 |
| Document: 0001193125-26-339223-index.html | 0001193125-26-339223 |
| Document: 0001193125-26-339223.txt | 0001193125-26-339223 |
| 8-K Data (Synthetic) | 0001193125-26-339223 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $5.85 | awaiting T+20 | — | $6.53 (+11.62%) |
Sep 1, 2026 8w ago | 8-K | $6.47 $7.35 | ▲ +13.52% | ▲ +12.34% | $6.53 (+0.93%) |
Aug 26, 2026 8w ago | 8-K | $6.65 $7.43 | ▲ +11.73% | ▲ +10.53% | $6.53 (−1.80%) |
Aug 7, 2026 11w ago | 8-K | $6.67 $6.86 | ▼ −2.85% | ▼ −3.25% | $6.53 (+2.10%) |
Aug 4, 2026 12w ago | EFFECT | $6.15 $6.47 | ▲ +5.20% | ▲ +6.44% | $6.53 (+6.18%) |
Jul 13, 2026 15w ago | S-3/A | $6.34 $6.64 | ▲ +4.73% | ▲ +2.24% | $6.53 (+3.00%) |
Jun 2, 2026 21w ago | 8-K | $5.56 $6.52 | ▲ +17.27% | ▲ +18.83% | $6.53 (+17.45%) |
May 14, 2026 23w ago | 8-K | $6.55 $5.86 | ▼ −10.53% | ▼ −12.65% | $6.53 (−0.31%) |
May 4, 2026 25w ago | 8-K / DEFA14A | $7.92 $5.81 | ▼ −26.64% | ▼ −32.29% | $6.53 (−17.55%) |
May 4, 2026 25w ago | Press Release | $7.92 $5.81 | ▼ −26.64% | ▼ −32.29% | $6.53 (−17.55%) |
US Market Status
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