V
VYNE Therapeutics Inc.
VYNECIK 0001566044NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$600.0K
Net Income
$-26.50M
Total Assets
$30.16M
Equity
$27.77M
Shares Out
33.32M
Op. Cash Flow
$-33.10M
Business
VYNE Therapeutics Inc. is a clinical-stage biopharmaceutical company developing small-molecule BET inhibitors to treat chronic inflammatory and immune-mediated conditions. Its main products and development programs include repibresib gel, a topically administered pan-BD BET inhibitor, and VYN202, an oral BD2-selective BET inhibitor, both developed via the InhiBET™ platform licensed from Tay Therapeutics. Key business activities are clinical development of these product programs, intellectual property licensing and management of third-party manufacturing relationships. The company holds exclusive worldwide rights to the licensed BET inhibitor compounds and conducts clinical trials primarily through U.S.-based sites and outsourced CMOs.
Summary from filing dated 2025-03-06
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| 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 |
|---|---|---|---|---|---|---|
| Total revenues | 600,000 | 500,000 | 400,000 | 500,000 | 931,000 | |
| Research and development | 19 | 31 | 16 | 18 | 20 | |
| General and administrative | 11 | 13 | 13 | 16 | — | |
| Total operating expenses | 30 | 44 | 30 | 35 | 40 | |
| Operating loss | −30 | −44 | −29 | −34 | −39 | |
| Other income, net | 3 | 4 | 1 | 363,000 | −135,000 | |
| Loss from continuing operations before income taxes | −27 | −40 | −28 | −34 | −45 | |
| Income tax expense | 4,000 | 4,000 | 0 | 13,000 | −448,000 | |
| Loss from continuing operations | −27 | −40 | −28 | −34 | −44 | |
| Income (loss) from discontinued operations, net of income taxes | 253,000 | −27,000 | −580,000 | 11 | −29 | |
| Net loss | −27 | −40 | −28 | −23 | −73 | |
| Loss per share from continuing operations, basic (in dollars per share) | −0.63 | −0.93 | −2.72 | −10.65 | −15.46 | |
| Loss per share from continuing operations, diluted (in dollars per share) | −0.63 | −0.93 | −2.72 | −10.65 | −15.46 | |
| (Loss) income per share from discontinuing operations, basic (in dollars per share) | 0.01 | 0 | −0.06 | 3.37 | −10.18 | |
| (Loss) income per share from discontinuing operations, diluted (in dollars per share) | 0.01 | 0 | −0.06 | 3.37 | −10.18 | |
| Loss per share basic (in dollars per share) | −0.62 | −0.93 | −2.78 | −7.28 | −25.64 | |
| Loss per share diluted (in dollars per share) | −0.62 | −0.93 | −2.78 | −7.28 | −25.64 | |
| Weighted average shares outstanding - basic (in shares) | 43 | 43 | 10 | 3 | 3 | |
| Weighted average shares outstanding - diluted (in shares) | 43 | 43 | 10 | 3 | 3 | |
| Unrealized losses on marketable securities, net of tax of $0 | −18,000 | −6,000 | 26,000 | 0 | — | |
| Total other comprehensive loss | −18,000 | −6,000 | 26,000 | 0 | — | |
| Comprehensive loss | −27 | −40 | −28 | −23 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 24 | 20 | 31 | — | 31 | |
| Investment in marketable securities (Note 6) | 5 | 42 | 63 | — | 0 | |
| Prepaid and other current assets | 1 | 3 | 3 | — | 2 | |
| Total Current Assets | 30 | 64 | 96 | — | 38 | |
| Property and equipment, net (Note 7) | 90,000 | 113,000 | 0 | — | 0 | |
| Operating lease right of use assets (Note 9) | 0 | 93,000 | 207,000 | 200,000 | 0 | |
| Non-current prepaid expenses and other assets | 60,000 | 2 | — | — | — | |
| Total Non-current Assets | 150,000 | 2 | 2 | — | 2 | |
| Total Assets | 30 | 67 | 98 | — | 41 | |
| Trade payables | 1 | 3 | 2 | — | 2 | |
| Accrued expenses (Note 8) | 941,000 | 9 | 4 | — | 4 | |
| Employee-related obligations | 413,000 | 1 | 2 | — | 2 | |
| Operating lease liabilities (Note 9) | 0 | 99,000 | 115,000 | — | 0 | |
| Other current liabilities | 0 | 1 | 0 | — | — | |
| Total Current Liabilities | 2 | 15 | 8 | — | 9 | |
| Total Liabilities | 2 | 15 | 9 | — | 9 | |
| Commitments and Contingencies (Note 11) | — | — | — | — | — | |
| Preferred stock: $0.0001 par value; 20,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | — | 0 | |
| Common stock: $0.0001 par value; 150,000,000 shares authorized at December 31, 2025 and December 31, 2024; 33,323,171 and 14,830,013 shares issued and outstanding at December 31, 2025 and 2024, respectively | 3,000 | 1,000 | 1,000 | — | 0 | |
| Additional paid-in capital | 785 | 783 | 780 | — | 694 | |
| Accumulated other comprehensive income | 2,000 | 20,000 | 26,000 | — | 0 | |
| Accumulated deficit | −758 | −731 | −691 | — | −663 | |
| Total Shareholders' Equity | 28 | 52 | 89 | — | 31 | |
| Total Liabilities and Shareholders Equity | 30 | 67 | 98 | — | 41 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| 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 |
|---|---|---|---|---|---|---|
| Depreciation | 23,000 | 4,000 | 0 | 72,000 | 100,000 | |
| Share-based compensation | 2 | 3 | 3 | 4 | 8 | |
| Amortization of premium or discount on marketable securities | −778,000 | −2 | −255,000 | 0 | — | |
| Unrealized loss on cash equivalents | 0 | −1,000 | 1,000 | 0 | 0 | |
| Trade receivables, prepaid expenses and other assets and operating lease right of use assets | 4 | −899,000 | 405,000 | 11 | 8 | |
| Trade payables, accrued expenses, employee related obligations and other long-term liabilities | −12 | 6 | −559,000 | −9 | −3 | |
| Operating lease liabilities | −99,000 | −114,000 | 214,000 | −349,000 | −1 | |
| Net cash used in operating activities | −33 | −34 | −25 | −29 | −56 | |
| Purchase of property and equipment | 0 | −117,000 | 0 | — | — | |
| Proceeds from the sale and maturity of marketable securities | 68 | 84 | 0 | 0 | 1 | |
| Purchases of marketable securities | −31 | −61 | −62 | 0 | — | |
| Net cash provided by investing activities | 37 | 23 | −57 | 16 | 1 | |
| Withholdings from exercise of options and issuance of shares for stock-based compensation arrangements, net | −143,000 | −141,000 | −67,000 | −28,000 | — | |
| Net cash used in financing activities | −143,000 | −141,000 | 82 | 2 | 40 | |
| Increase (decrease) in cash and cash equivalents | 4 | −11 | −301,000 | — | — | |
| Issuance of vested shares under employee share purchase plan | 16,000 | 30,000 | 48,000 | 37,000 | 169,000 |
Filings
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