KYNTRA BIO, INC. KYNB
Kyntra Bio, Inc. ("Kyntra Bio" or the "Company") is a biopharmaceutical company focused on development of novel therapies at the frontiers of cancer biology and anemia.
In January 2026, the Company announced its rebranding from "FibroGen, Inc." to "Kyntra Bio, Inc.", representing the next step of its transformation and focus on oncology and associated rare disease indications. On January 8, 2026, the Company's common stock began trading under the new Nasdaq symbol "KYNB."
We are developing FG-3246, a potential first-in-class antibody-drug conjugate ("ADC") targeting CD46, for the treatment of metastatic castration-resistant prostate cancer ("mCRPC") and potentially other cancers. This program also includes the development of FG-3180, an associated CD46-targeted positron emission tomography ("PET") biomarker and imaging agent. We initiated a Phase 2 monotherapy dose optimization study of FG-3246 for the treatment of mCRPC, along with the exploratory sub-study of FG-3180, in the third quarter of 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.4M | $29.6M | $46.8M | $140.7M | $235.3M | $176.3M | $256.6M | $213.0M | $131.0M | $183.2M |
| Cost of revenue | $556.0K | $15.6M | $4.0M | $20.3M | $12.9M | $8.9M | $1.1M | — | — | — |
| Gross profit | $5.9M | $14.1M | $42.8M | $120.5M | $222.4M | $167.4M | $255.4M | — | — | — |
| R&D | $23.5M | $95.7M | $266.5M | $296.8M | $387.0M | $252.9M | $209.3M | $235.8M | $196.5M | $187.2M |
| SG&A | $27.7M | $49.3M | $86.5M | $124.7M | $123.9M | $106.4M | $135.5M | $63.8M | $51.8M | $46.0M |
| Total operating expenses | $52.3M | $180.0M | $369.5M | $441.8M | $523.8M | $368.2M | $345.9M | $299.7M | $248.3M | $233.2M |
| Operating income | -$45.9M | -$150.4M | -$322.7M | -$301.0M | -$288.5M | -$191.9M | -$89.3M | -$86.7M | -$117.3M | -$50.0M |
| Interest expense | $8.8M | $8.2M | $8.1M | $1.4M | $1.1M | $2.4M | $2.9M | $11.0M | $9.7M | $10.7M |
| Pre-tax income | -$58.3M | -$153.4M | -$323.2M | -$294.9M | -$290.7M | -$188.7M | -$76.6M | -$86.1M | -$120.6M | -$58.1M |
| Income tax | $90.0K | $269.0K | $252.0K | $358.0K | $347.0K | $360.0K | $328.0K | $304.0K | $321.0K | $71.0K |
| Net income | $183.5M | -$47.6M | -$284.2M | -$293.7M | -$290.0M | -$189.3M | -$77.0M | -$86.4M | -$120.9M | -$58.1M |
| EPS, basic | 45.37 | -11.89 | -2.92 | -3.14 | -3.14 | -2.11 | — | — | — | — |
| EPS, diluted | 45.37 | -11.89 | -2.92 | -3.14 | -3.14 | -2.11 | -0.89 | -1.03 | -1.66 | -0.93 |
| Shares, diluted (wtd. avg.) | $4.0M | $4.0M | $97.3M | $93.6M | $92.3M | $89.9M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $47.9M | $50.5M | $81.6M | $155.7M | $171.2M | $678.4M | $126.3M | $89.3M | $673.7M | $173.8M |
| Short-term investments | $41.1M | $0 | $121.9M | $266.3M | $234.0M | $8.1M | $407.5M | $532.1M | $62.1M | $79.4M |
| Receivables | $216.0K | $481.0K | $5.1M | $16.3M | $17.4M | $41.9M | $28.5M | $63.7M | $8.5M | $10.4M |
| Inventory | $3.7M | $3.2M | $17.2M | $40.4M | $31.0M | $16.5M | $6.9M | $0 | — | — |
| Total current assets | $99.1M | $196.5M | $331.6M | $492.8M | $474.1M | $755.1M | $702.5M | $690.0M | $749.0M | $266.5M |
| Property, plant and equipment | — | $0 | $4.8M | $20.6M | $28.3M | $33.6M | $42.7M | $127.2M | $129.5M | $123.7M |
| Total assets | $119.6M | $214.5M | $423.5M | $610.1M | $773.8M | $826.8M | $857.4M | $880.6M | $898.6M | $469.6M |
| Accounts payable | $3.7M | $5.1M | $15.8M | $30.8M | $26.1M | $24.8M | $6.1M | $9.1M | $5.5M | $6.2M |
| Total current liabilities | $29.2M | $133.3M | $217.7M | $273.6M | $225.5M | $163.2M | $102.7M | $89.0M | $86.0M | $65.1M |
| Long-term debt | $75.0M | — | — | — | — | — | — | — | — | — |
| Total liabilities | $115.1M | $398.2M | $585.7M | $611.6M | $544.7M | $385.4M | $322.0M | $352.1M | $350.9M | $294.4M |
| Retained earnings | -$1.71B | -$1.89B | -$1.84B | -$1.56B | -$1.26B | -$974.0M | -$784.7M | -$715.8M | -$630.7M | -$509.8M |
| Total equity | -$30.0M | -$225.6M | -$183.7M | -$1.5M | $229.1M | $441.4M | $535.4M | $528.5M | $547.7M | $135.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.8M | -$138.0M | -$315.0M | -$145.9M | -$82.2M | $81.6M | -$78.7M | -$76.1M | -$66.5M | $7.1M |
| Depreciation and amortisation | $713.0K | $2.7M | $9.5M | $10.0M | $10.2M | $11.7M | $11.1M | $6.6M | $6.1M | $6.0M |
| Stock-based compensation | $6.6M | $25.2M | $50.8M | $65.6M | $71.2M | $72.7M | $66.3M | $52.1M | $37.5M | $32.1M |
| Capital expenditure | $38.0K | $266.0K | $2.5M | $3.7M | $5.2M | $4.0M | $5.8M | $8.0M | $8.5M | $1.3M |
| Investing cash flow | $35.4M | $126.0M | $153.7M | $89.1M | -$427.0M | $452.5M | $120.0M | -$522.1M | $69.9M | $6.6M |
| Financing cash flow | -$86.0M | -$255.0K | $122.7M | $46.8M | -$563.0K | $13.3M | -$4.3M | $13.9M | $496.5M | $6.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-182044.
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