Ceryvyn Therapeutics (CYV) H2 2026 earnings summary

Executive summary

• Achieved a significant turnaround with a profit of A$330.4 million for FY26, compared to a loss of A$251.1 million in FY25, primarily due to a one-time gain from the derecognition of the Development Funding Agreement (DFA).

• Settled the DFA, removing a substantial liability and restoring solvency, enabling a strategic reset and focus on rare disease drug development.

• Redirected lead asset CYV-101 to target lymphangioleiomyomatosis (LAM), a rare lung disease, leveraging existing scientific and manufacturing investments.

• Resumed trading on the ASX in June 2026 and rebranded to reflect the new strategic direction.

Financial highlights

• FY26 profit after tax: A$330.4 million (FY25: loss of A$251.1 million), driven by a A$357.1 million gain on DFA derecognition.

• Revenue: A$1,000 (FY25: A$39,000), with other income of A$189,000.

• Research and development expenses: A$2.2 million (FY25: A$193.8 million); administrative expenses: A$9.7 million (FY25: A$48.2 million).

• Net tangible assets per share: 2.16 cents (FY25: -24.93 cents).

• Cash and cash equivalents at year-end: A$30.0 million (FY25: A$73.9 million).

• No dividends declared or paid for FY26 or FY25.

Outlook and guidance

• Sufficient cash reserves to fund the planned three-stage LAM development program through initial proof-of-concept studies.

• Focused on disciplined capital allocation, with progression dependent on scientific data quality at each milestone.

• No specific financial guidance provided due to the early stage of the LAM program and inherent uncertainties.