Kyntra Bio delivered $3.7M in revenue, up 36.5% year-over-year, but reported a $15.2M net loss and negative gross profit of $368K — reflecting the structural cost profile of commercial API supply amid ongoing late-stage oncology development investment.
Key takeaways
Revenue increased 36.5% to $3.7M versus $2.7M in Q1 FY2025, consistent with contractual supply obligations under the Astellas EU Supply Agreement and AstraZeneca Master Supply Agreement.
Gross profit declined to -$368K (gross margin: -9.8%) from $2.5M a year ago, driven by cost of goods sold associated with commercial API shipments, as disclosed in prior management commentary.
Operating income improved modestly to -$13.8M from -$14.9M in Q1 FY2025, reflecting continued cost discipline across R&D and SG&A, per management’s stated focus on expense control.
Net cash used in operating activities was $13.9M, reversing the $2.7M provided in Q1 FY2025, aligning with the shift from net income to net loss and consistent with management’s observation that cash use reflects operational execution during this phase.