GYRE · Gyre Therapeutics, Inc.

Gyre Therapeutics' Q1 2026 results showed revenue of $22.5 million, a modest 2% increase year-over-year, primarily from $0.5 million and $0.7 million contributions from Contiva (launched March 2025) and Etorel (launched June 2025), offsetting a 3% decline in flagship ETUARY to $21.0 million due to seasonal factors. Gross costs rose 37% to $1.2 million from Etorel production and stock compensation. Operating expenses surged, with selling/marketing up 30% to $14.1 million on promotions for new products and F351 prep, R&D doubling to $6.7 million on F351 Phase 3c trials and U.S. pre-IND work, and G&A up 46% to $7.3 million from staff realignments and compensation. Cullgen acquisition added $2.5 million in transaction costs, contributing to a $9.4 million operating loss versus prior income. Net loss was $9.9 million (GAAP basic EPS $(0.10)), with non-GAAP adjusted net loss $4.2 million. Cash grew 4% to $79.2 million as of March 31 from collections. CEO Ying Luo highlighted F351's priority review and Cullgen's protein degradation tech strengthening fibrosis and oncology pipelines. Company affirmed FY2026 revenue guidance of $100.5-$111.0 million, signaling confidence amid pipeline advances like F351 NDA submission and ETUARY Phase 2/3 enrollment for RILI.