Kyntra Bio, Inc. functions as a biopharmaceutical enterprise, encompassing the entire process from the initial discovery and rigorous development of innovative treatments ...
Kyntra Bio, Inc. (formerly FibroGen, Inc.) is a biopharmaceutical enterprise dedicated to the discovery, development, and commercialization of groundbreaking treatments for serious unmet medical needs. The company's scientific research delves into the complex biology of hypoxia-inducible factors (HIF) and connective tissue growth factors (CTGF), aiming to create therapies for conditions ...Kyntra Bio, Inc. (formerly FibroGen, Inc.) is a biopharmaceutical enterprise dedicated to the discovery, development, and commercialization of groundbreaking treatments for serious unmet medical needs. The company's scientific research delves into the complex biology of hypoxia-inducible factors (HIF) and connective tissue growth factors (CTGF), aiming to create therapies for conditions such as anemia, fibrotic disorders, and various forms of cancer. Founded by Thomas B. Neff on September 29, 1993, the company has undergone a significant transformation, rebranding to Kyntra Bio on January 8, 2026, to reflect its renewed focus on oncology and rare disease therapies with potential for outsized impact. Led by CEO Thane Wettig, who has served on the board since April 2010, the company employs 34 full-time staff members. Financially, Kyntra Bio has a market capitalization of approximately $28.7 million, with a current ratio of 3.605 and a working capital of $73.2 million. The company invests heavily in research and development, with R&D expenses representing nearly three times its revenue, and sales and administrative costs over three times revenue. Despite a negative operating cash flow and net loss, the company maintains a cash ratio of 1.316, suggesting sufficient liquidity. The company's pipeline focuses on novel therapies, and its mission is to expand what is possible in treating cancer and rare diseases. Key historical milestones include the approval of roxadustat, a HIF-based therapy, reflecting the vision of founder Thomas Neff. As Kyntra Bio continues to evolve, it remains committed to advancing innovative treatments and making a meaningful impact on patients' lives.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$6.4M
-78.3%
-139.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$183.5M
+485.6%
+178.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+91.4%
+92.5%
+1117.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-712.7%
-40.3%
+422.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+2848.6%
+1873.5%
-99.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-4.8M
+96.5%
+71.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-74.7%
+84.0%
+172.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
+100.0%
+100.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
3.39x
+129.8%
-25.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Gaia Shamis of LifeSci Advisors. Please go ahead.
Gaia Shamis: Thank you, Latonia, and good afternoon, everyone. Thank you for joining today to discuss Kyntra Bio's second quarter 2026 financial and business results. I'm Gaia Shamis from LifeSci Advisors. Joining me on today's call are Thane Wettig, Chief Executive Officer, David DeLucia, Chief Financial Officer, and Carol Gaddum, Vice President of Product Development. Following the prepared remarks, we will open the call to your questions. I would like to remind you that remarks made on today's call include forward-looking statements about Kyntra Bio. Such statements may include, but are not limited to, collaborations with AstraZeneca and Astellas, financial guidance, the initiation, enrollment, design, conduct, and results of clinical trials, regulatory strategies and potential regulatory results, research and development activities, commercial results and results of operations, risks related to our business, and certain other business matters. Each forward-looking statement is subject to risks and uncertainties that could cause actual results and events to differ materially from those projected in the statement. A more complete description of these and other material risks can be found in Kyntra Bio's filing with the SEC, including our most recent Form 10-K and Form 10-Q. Kyntra Bio does not undertake any obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. The press release reporting the company's financial results and business updates, and a webcast of today's conference call can be found on the investor section of Kyntra Bio website at www.kyntrabio.com. With that, I would like to turn the call over to the CEO, Thane Wettig. Thane?
Thane Wettig: Thank you, Gaia. Good afternoon, everyone, and welcome to our second quarter 2026 earnings call. On today's call, I will provide an update on the important progress we have made across our clinical portfolio. First, with FG-3246, our potential first-in-class antibody drug conjugate targeting CD46 and its companion PET imaging agent in metastatic castration-resistant prostate cancer. Second, with roxadustat, our potential treatment for anemia due to lower risk myelodysplastic syndromes. Then David DeLucia, our CFO, will review the financials, after which we will open the call for your questions. Starting with slide three, I'd like to highlight our mid and late-stage programs and upcoming catalysts. The phase II monotherapy trial for FG-3246 and its companion diagnostic FG-3180 in the post-ARPI pre-chemo setting in metastatic castration-resistant prostate cancer continues to actively enroll patients, and we are on track for the results from the interim analysis in the fourth quarter of this year. With our roxadustat program, the …