CYPHERPUNK TECHNOLOGIES INC.
Business
Cypherpunk Technologies Inc. is a privacy technology company that accumulates Zcash digital assets as part of a treasury strategy while conducting biopharmaceutical research through its Leap Therapeutics subsidiary. The company develops biomarker-targeted monoclonal antibody therapies, including its lead program sirexatamab (DKN-01) for colorectal cancer treatment and a preclinical program FL-501 targeting cachexia. Cypherpunk operates globally, positioning itself as a disciplined capital allocator in privacy-enhancing technologies and a developer of novel cancer therapies with unmet medical needs.
Summary from 10-K filed 2026-03-16
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 |
|---|---|---|---|---|---|---|
| Research and development | 26 | 57 | 73 | 45 | 32 | |
| General and administrative | 11 | 13 | 14 | 12 | 11 | |
| Restructuring charges | 5 | — | — | — | — | |
| Total operating expenses | 41 | 70 | 87 | 57 | 43 | |
| Loss from operations | −41 | −70 | −87 | −57 | −41 | |
| Interest income | 916,000 | 3 | — | — | — | |
| Interest expense | −24,000 | — | — | — | — | |
| Australian research and development incentives | −157,000 | — | 1 | 2 | 1 | |
| Change in fair value of embedded derivative | 50 | — | — | — | — | |
| Foreign currency gain (loss) | 5,000 | −42,000 | −13,000 | −608,000 | −379,000 | |
| Income (loss) before income taxes | 10 | −67 | −81 | 54 | −41 | |
| Provision for income taxes | −5 | −585,000 | — | −147,000 | 24,000 | |
| Net income (loss) | 5 | −68 | −81 | — | −41 | |
| Dividend attributable to down round feature of warrants | — | −234,000 | — | — | — | |
| Net income (loss) attributable to common stockholders | 5 | −68 | −81 | — | — | |
| Basic (in dollars per share) | 0.07 | −1.81 | −3.98 | −4.82 | −0.47 | |
| Diluted (in dollars per share) | 0.07 | −1.81 | −3.98 | −4.82 | −0.47 | |
| Basic (in shares) | 66 | 38 | 20 | 11 | 86 | |
| Diluted (in shares) | 71 | 38 | 20 | 11 | 86 |
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 | 14 | 47 | 71 | 66 | 115 | |
| Digital assets receivable | 147 | — | — | — | — | |
| Research and development incentive receivable | 602,000 | 704,000 | 771,000 | 2 | 1 | |
| Prepaid expenses and other current assets | 40,000 | 86,000 | 183,000 | 351,000 | 769,000 | |
| Total current assets | 162 | 48 | 72 | 68 | 117 | |
| Right of use assets, net | 38,000 | 262,000 | 257,000 | 669,000 | 459,000 | |
| Deferred costs | 401,000 | — | — | — | — | |
| Deposits | 662,000 | 823,000 | 966,000 | 1 | 293,000 | |
| Total assets | 163 | 49 | 73 | 70 | 118 | |
| Accounts payable | 2 | 5 | 6 | 6 | 4 | |
| Accrued expenses | 2 | 9 | 6 | 5 | 5 | |
| Income tax payable | 472,000 | 531,000 | — | — | — | |
| Lease liability | 38,000 | 266,000 | 262,000 | 416,000 | 432,000 | |
| Total current liabilities | 5 | 14 | 13 | 11 | 10 | |
| Deferred tax liability | 5 | — | — | — | — | |
| Total liabilities | 10 | 14 | 13 | 11 | 10 | |
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively | — | — | — | — | — | |
| Common stock, $0.001 par value; 490,000,000 and 240,000,000 shares authorized; 83,851,051 and 38,329,894 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 84,000 | 38,000 | 26,000 | 10,000 | 88,000 | |
| Stock subscription receivable | −150,000 | — | — | — | — | |
| Additional paid-in capital | 616 | 503 | 460 | 377 | 372 | |
| Accumulated other comprehensive loss | −95,000 | −120,000 | 106,000 | 128,000 | −267,000 | |
| Accumulated deficit | −463 | −467 | −400 | −318 | −264 | |
| Total stockholders' equity | 154 | 35 | 60 | 59 | 108 | |
| Total liabilities and stockholders' equity | 163 | 49 | 73 | 70 | 118 |
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 (loss) | 5 | −68 | −81 | −55 | −41 | |
| Depreciation expense | 0 | 5,000 | 15,000 | 16,000 | 29,000 | |
| Non-cash operating lease expense | 224,000 | 415,000 | 412,000 | 399,000 | 392,000 | |
| Deferred income taxes | 5 | — | — | — | — | |
| Stock-based compensation expense | 5 | 6 | 5 | 5 | 4 | |
| Prepaid expenses and other assets | 1 | 100,000 | 164,000 | 416,000 | −639,000 | |
| Research and development incentive receivable | 149,000 | — | 1 | −1 | −1 | |
| Accounts payable and accrued expenses | −10 | 902,000 | 712,000 | 945,000 | 4 | |
| Income tax payable | −95,000 | 562,000 | — | — | — | |
| Lease liability | −228,000 | −417,000 | −415,000 | −400,000 | −406,000 | |
| Other assets | 1 | 143,000 | 748,000 | −755,000 | 597,000 | |
| Net cash used in operating activities | −44 | −60 | −44 | −49 | −35 | |
| Purchases of digital assets | −97 | — | — | — | — | |
| Net cash used in investing activities | −97 | — | 49 | — | — | |
| Proceeds from April 2024 Private Placement | — | 40 | — | — | — | |
| Payment of deferred offering costs | −622,000 | −3 | — | −210,000 | −184,000 | |
| Priciple payments of insurance financing | −440,000 | — | — | — | — | |
| Proceeds from the exercise of warrants | — | 41,000 | — | — | 993,000 | |
| Proceeds from the exercise of stock options | 16,000 | 92,000 | — | — | 4,000 | |
| Net cash provided by financing activities | 108 | 37 | −30,000 | −210,000 | 98 | |
| Effect of exchange rate changes on cash and cash equivalents | 39,000 | −279,000 | −43,000 | −162,000 | −33,000 | |
| Net decrease in cash and cash equivalents | −33 | −23 | 5 | −49 | 63 | |
| Remeasurement of right-of-use asset and lease liability | — | 420,000 | — | 609,000 | 323,000 | |
| Prepayment of insurance through third-party financing | 440,000 | — | — | — | — | |
| Deferred offering costs included in accounts payable | 638,000 | — | — | — | — | |
| Issuance of common stock in exchange for stock subscription receivable | 150,000 | — | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is CYPHERPUNK TECHNOLOGIES INC.'s CIK number?
CYPHERPUNK TECHNOLOGIES INC.'s SEC CIK number is 0001509745 (1509745). 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 CYPHERPUNK TECHNOLOGIES INC.'s SEC filings?
All of CYPHERPUNK TECHNOLOGIES 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 CYPHERPUNK TECHNOLOGIES INC. last report earnings?
CYPHERPUNK TECHNOLOGIES INC. (CYPH) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-060686). This is CYPHERPUNK TECHNOLOGIES INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is CYPHERPUNK TECHNOLOGIES INC.'s most recent earnings 8-K?
CYPHERPUNK TECHNOLOGIES INC.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001104659-26-060686. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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