GYRE THERAPEUTICS, INC.
Business
Gyre Therapeutics is a commercial-stage biopharmaceutical company focused on developing and commercializing small-molecule therapies for organ fibrosis and inflammatory diseases. The company operates through a majority-owned subsidiary in China and U.S. operations in San Diego, with a commercial portfolio including ETUARY® (pirfenidone) and Etorel® (nintedanib) for pulmonary fibrosis, and Contiva® (avatrombopag) for liver-disease-associated hematologic conditions. Key pipeline candidates include Hydronidone for liver fibrosis in both China and the U.S., and F573, F230, and F528 for acute liver failure, pulmonary arterial hypertension, and chronic obstructive pulmonary disease, respectively, all in development in China.
Summary from 10-K filed 2026-03-13
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 117 | 106 | 113 | 102 | 7 | |
| Cost of revenues | 5 | 4 | 5 | 5 | — | |
| Selling and marketing | 65 | 58 | 61 | 54 | — | |
| Research and development | 14 | 12 | 14 | — | 69 | |
| General and administrative | 21 | 16 | 15 | 17 | 19 | |
| Loss on disposal of assets, net | 4,000 | 66,000 | — | −57 | — | |
| Total operating expenses | 105 | 90 | 181 | 93 | — | |
| Income from operations | 11 | 16 | −67 | 9 | −88 | |
| Interest income, net | 2 | 2 | 1 | 726,000 | — | |
| Other expense, net | −2 | −2 | −2 | — | — | |
| Change in fair value of warrant liability | 3 | 7 | −9 | — | — | |
| Total income before income taxes | 14 | 23 | −77 | 9 | −88 | |
| Provision for income taxes | −5 | −5 | −9 | −5 | — | |
| Net income | 10 | 18 | −85 | 4 | — | |
| Net income attributable to noncontrolling interest | 5 | 6 | 7 | 2 | — | |
| Net income attributable to common stockholders | 5 | 12 | −93 | 2 | — | |
| Net income per share attributable to common stockholders, basic | 0.06 | 0.14 | −1.41 | 0.04 | −2.87 | |
| Net income per share attributable to common stockholders, diluted | 0.02 | 0.05 | −1.41 | 0.03 | −2.87 | |
| Weighted average shares used in calculating net income per share attributable to common stockholders, basic | 89 | 85 | 66 | 64 | 31 | |
| Weighted average shares used in calculating net income per share attributable to common stockholders, diluted | 103 | 102 | 66 | 76 | 31 | |
| Foreign currency translation adjustments | 3 | −1 | −1 | −5 | — | |
| Comprehensive income from operations | 13 | 16 | −87 | −614,000 | — | |
| Foreign currency translation adjustments attributable to noncontrolling interest | 818,000 | −507,000 | −647,000 | −2 | — | |
| Comprehensive income attributable to noncontrolling interest | 6 | 5 | 7 | −158,000 | — | |
| Comprehensive income attributable to common stockholders | 7 | 11 | −94 | −456,000 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 37 | 12 | 34 | 25 | 44 | |
| Short-term bank deposits | 15 | 15 | — | — | 3 | |
| Notes receivable | 6 | 4 | 389,000 | — | — | |
| Accounts receivable, net | 31 | 20 | 15 | — | 2 | |
| Inventories | 10 | 6 | — | — | — | |
| Prepaid assets | 1 | 1 | 2 | 377,000 | — | |
| Other current assets | 1 | 1 | 1 | 843,000 | — | |
| Total current assets: | 102 | 65 | 57 | 50 | 51 | |
| Property and equipment, net | 24 | 24 | 23 | 18 | 970,000 | |
| Intangible assets, net | 5 | 273,000 | 205,000 | 297,000 | — | |
| Right-of-use assets | 1 | 2 | 489,000 | 666,000 | 3 | |
| Land use rights, net | 1 | 1 | 1 | 2 | — | |
| Deferred tax assets | 7 | 6 | 5 | 4 | — | |
| Long-term certificates of deposit | 24 | 25 | 23 | 7 | — | |
| Other assets, noncurrent | 2 | 3 | 995,000 | 3 | 472,000 | |
| Total assets | 166 | 125 | 117 | 85 | 56 | |
| Accounts payable | 124,000 | 108,000 | 355,000 | 122,000 | 6 | |
| Contract liabilities | 14,000 | 61,000 | 39,000 | — | — | |
| Due to related parties | 227,000 | 227,000 | 1 | 118,000 | — | |
| Accrued expenses and other current liabilities | 14 | 11 | 12 | 9 | — | |
| Income tax payable | 3 | 3 | 5 | 2 | — | |
| Operating lease liabilities, current | 636,000 | 713,000 | 210,000 | 492,000 | 2 | |
| CVR derivative liability | — | 5 | — | — | — | |
| Total current liabilities: | 18 | 20 | 20 | 12 | 14 | |
| Operating lease liabilities, noncurrent | 303,000 | 885,000 | 199,000 | 121,000 | 408,000 | |
| Deferred government grants | 852,000 | 928,000 | 213,000 | 118,000 | — | |
| Warrant liability, noncurrent | 3 | 6 | 13 | — | — | |
| Other noncurrent liabilities | 1 | 7,000 | 49,000 | 55,000 | — | |
| Total liabilities | 24 | 27 | 38 | 13 | 15 | |
| Commitments and Contingencies (Note 11) | — | — | — | — | — | |
| Common stock, $0.001 par value, 400,000,000 shares authorized; 91,314,007 shares and 86,307,544 shares issued and outstanding at December 31, 2025 and 2024, respectively | 91,000 | 86,000 | 77,000 | 64,000 | 31,000 | |
| Additional paid-in capital | 172 | 136 | 68 | 33 | 444 | |
| Statutory reserve | 3 | 3 | 3 | 3 | — | |
| Accumulated deficit | −68 | −73 | −86 | 7 | −403 | |
| Accumulated other comprehensive loss | −779,000 | −3 | −2 | −392,000 | — | |
| Total Gyre stockholders' equity | 106 | 63 | −16 | 43 | 41 | |
| Noncontrolling interest | 36 | 35 | 30 | 30 | — | |
| Total equity | 142 | 98 | 14 | 72 | 59 | |
| Total liabilities and stockholders' equity | 166 | 125 | 117 | 85 | 56 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income from operations | 10 | 18 | −85 | 4 | −88 | |
| Stock-based compensation | 7 | 831,000 | 7 | 13 | 3 | |
| Depreciation and amortization | 2 | 2 | 1 | 1 | 290,000 | |
| Noncash lease expense | 777,000 | 672,000 | 355,000 | 404,000 | — | |
| Amortization of land use rights | 39,000 | 39,000 | 40,000 | 42,000 | — | |
| Deferred income taxes, net | −1 | −1 | −1 | −838,000 | — | |
| Bad debt expense and other non-cash items | −63,000 | 170,000 | −61,000 | 22,000 | — | |
| Accrued interest on bank deposit | 28,000 | −1 | −633,000 | — | — | |
| Change in fair value of receivables from GCBP | −39,000 | −239,000 | −39,000 | — | — | |
| Change in fair value of derivative liabilities | 39,000 | 239,000 | 39,000 | — | — | |
| Equity loss of unconsolidated affiliates | 77,000 | 37,000 | 1 | 251,000 | — | |
| Loss on disposal of property and equipment | 4,000 | 66,000 | — | — | — | |
| Notes receivable | −1 | −4 | 1 | — | — | |
| Accounts receivable | −11 | −5 | 285,000 | — | 1 | |
| Inventories | −4 | −2 | 2 | −879,000 | — | |
| Prepaid and other assets | −206,000 | 520,000 | −82,000 | 973,000 | 4 | |
| Income tax payable | 44,000 | −2 | 3 | −1 | — | |
| Accounts payable | 13,000 | −245,000 | 192,000 | −112,000 | 500,000 | |
| Other noncurrent liabilities | −47,000 | 23,000 | −102,000 | — | — | |
| Due to related parties | −1,000 | −83,000 | 425,000 | — | — | |
| Accrued expenses and other liabilities | 946,000 | −1 | 1 | 2 | — | |
| Operating lease liabilities | −744,000 | −816,000 | −473,000 | −429,000 | — | |
| Net proceeds from CVR liability settlement | 25,000 | — | — | — | — | |
| Net cash provided by (used in) operating activities | 1 | −4 | 26 | 11 | −84 | |
| Acquisition of intangible assets | −733,000 | −813,000 | −69,000 | −13,000 | — | |
| Purchase of certificates of deposit | −14 | −15 | −16 | −7 | — | |
| Purchases of property and equipment | −1 | −2 | −9 | −5 | −839,000 | |
| Proceeds from sale of equipment | 30,000 | 401,000 | 664,000 | — | — | |
| Purchase of equity method investment | — | −2 | −1 | −1 | — | |
| Maturity of certificates of deposit | 15 | — | — | — | — | |
| Net cash used in investing activities | −474,000 | −20 | −20 | −14 | 48 | |
| Offering costs paid | −1 | −536,000 | — | — | — | |
| Proceeds from the exercise of stock options | 2 | 2 | 0 | — | — | |
| Net cash provided by financing activities | 24 | 2 | 3 | −45 | 50 | |
| Effect of exchange rate changes on cash and cash equivalents | 343,000 | −273,000 | −298,000 | −2 | — | |
| Net increase (decrease) in cash and cash equivalents | 25 | −22 | 8 | −5 | 14 | |
| Right-of-use asset obtained in exchange for operating lease liabilities | 63,000 | 2 | 277,000 | 57,000 | — | |
| Convertible preferred stock conversion | — | 65 | — | — | — | |
| Cash paid for income taxes | 6 | 9 | 6 | 6 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is GYRE THERAPEUTICS, INC.'s CIK number?
GYRE THERAPEUTICS, INC.'s SEC CIK number is 0001124105 (1124105). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find GYRE THERAPEUTICS, INC.'s SEC filings?
All of GYRE THERAPEUTICS, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did GYRE THERAPEUTICS, INC. last report earnings?
GYRE THERAPEUTICS, INC. (GYRE) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-209789). This is GYRE THERAPEUTICS, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is GYRE THERAPEUTICS, INC.'s most recent earnings 8-K?
GYRE THERAPEUTICS, INC.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-209789. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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