Polaryx Therapeutics, Inc.
Business
Polaryx Therapeutics is a clinical-stage biotechnology company developing small-molecule and gene-therapy candidates for rare lysosomal storage disorders, particularly neuronal ceroid lipofuscinosis and related diseases. The lead candidate, PLX-200 (gemfibrozil), is an oral small molecule repurposed through a 505(b)(2) regulatory pathway, with a Phase 2 basket trial (SOTERIA) expected to initiate in the second half of 2026 targeting CLN2, CLN3, Krabbe disease, and Sandhoff disease. The pipeline also includes PLX-300 and PLX-100 small molecules, and PLX-400, an intranasal gene therapy, all targeting multiple LSDs with shared pathophysiological mechanisms including lysosomal biogenesis, neuroinflammation reduction, and neuronal protection.
Summary from 10-K filed 2026-07-01
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Research and development expenses | 6 | 3 | |
| General and administrative expenses | 2 | 2 | |
| Total operating expenses | 8 | 4 | |
| Operating loss | −8 | −4 | |
| Other expense direct listing offering costs | −1 | — | |
| Other expense recapitalization of common stock | — | −26 | |
| Net loss and comprehensive loss | −9 | −30 | |
| Net loss per share basic | −0.2 | −0.89 | |
| Net loss per share diluted | −0.2 | −0.89 | |
| Weighted average common shares outstanding basic | 45 | 34 | |
| Weighted average common shares outstanding diluted | 45 | 34 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 5 | 5 | — | |
| Prepaid expenses | — | 380,000 | — | |
| Other current assets | 27,000 | — | — | |
| Total current assets | 5 | 5 | — | |
| Total assets | 5 | 5 | — | |
| Accounts payable | 470,000 | 72,000 | — | |
| Accrued expenses and other current liabilities | 21,000 | 87,000 | — | |
| Total current liabilities | 605,000 | 289,000 | — | |
| Total liabilities | 605,000 | 289,000 | — | |
| Commitments and contingencies (Note 9) | — | — | — | |
| Preferred stock: $0.0001 par value, 40,000,000 shares authorized; 0 and 0 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | — | — | |
| Common stock: $0.0001 par value; 560,000,000 shares authorized; 47,343,297 and 41,151,571 shares issued and outstanding at December 31, 2025 and 2024, respectively | 5,000 | 4,000 | — | |
| Additional paid-in capital | 104 | 95 | — | |
| Accumulated deficit | −100 | −91 | — | |
| Total stockholders equity | 5 | 5 | 1 | |
| Total liabilities and stockholders equity | 5 | 5 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Stock-based compensation expense | 5 | 2 | |
| Accounts payable | 398,000 | −401,000 | |
| Due to related party | −39,000 | −220,000 | |
| Accrued expenses related party | 23,000 | — | |
| Accrued expenses and other current liabilities | −66,000 | — | |
| Net cash flows used in operating activities | −4 | −3 | |
| Proceeds from short-term debt related party | — | 65,000 | |
| Repayment of short-term debt related party | — | −193,000 | |
| Payments related to issuance of common stock | −27,000 | — | |
| Proceeds from issuance of common stock | 4 | 7 | |
| Net cash flows provided by financing activities | 4 | 7 | |
| Net increase (decrease) in cash and cash equivalents | 522,000 | 5 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Polaryx Therapeutics, Inc.'s CIK number?
Polaryx Therapeutics, Inc.'s SEC CIK number is 0002075320 (2075320). 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 Polaryx Therapeutics, Inc.'s SEC filings?
All of Polaryx 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.