Gyre Therapeutics, Inc.
GYREHealthcare|Biotechnology|US
$4.76
+0.75 (+18.70%)
Tangible Book / Share
$1.52
Cash / Share
$0.39
Financials
Financial Snapshot
Market Cap
$504.7M
Enterprise Value
$466.1M
Revenue (TTM)
$121.8M
Net Income (TTM)
-$25.0M
Cash & Investments
$41.6M
Net Cash
$38.6M
Free Cash Flow (TTM)
-$24.7M
Operating CF (TTM)
-$23.2M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$41.6M
Quarterly Burn
$5.8M
Monthly Burn
$1.9M
Est. Runway
~7.2 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $17.1M | $32.4M | $120.1M | $76.9M | $79.4M | $46.9M | $25.2M | $33.5M | $26.7M | $52.4M | $41.6M | |
| Operating Cash Flow | -$18.5M | -$19.9M | -$28.6M | -$43.6M | -$55.0M | -$83.8M | $10.7M | $25.9M | -$3.6M | $1.0M | -$23.2M | |
| Free Cash Flow | -$18.9M | -$20.0M | -$28.9M | -$43.7M | -$55.3M | -$84.6M | $5.7M | $17.3M | -$6.8M | -$180.0K | -$24.7M | |
| Capital Expenditure | -$468.0K | -$23.0K | -$376.0K | -$64.0K | -$267.0K | -$839.0K | -$5.0M | -$8.6M | -$3.1M | -$1.2M | -$1.6M | |
| Financing Cash Flow | $948.0K | $35.4M | $111.3M | $327.0K | $60.4M | $49.6M | $0.00 | $2.5M | $2.1M | $24.4M | $552.0K |
R&D Spending
R&D (TTM)
$39.2M
R&D Intensity
32.2%
R&D Growth vs Prior
+186.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $399.0K | $1.0M | $6.0K | $0.00 | $20.9M | $7.3M | $102.3M | $113.5M | $105.8M | $116.6M | $121.8M | |
| R&D Expense | $11.6M | $12.8M | $21.5M | $43.9M | $53.0M | $64.6M | $16.7M | $13.8M | $12.0M | $13.7M | $39.2M | |
| R&D % of Revenue | 2896.0% | 1262.0% | 357900.0% | — | 252.9% | 880.0% | 16.3% | 12.1% | 11.4% | 11.7% | 32.2% | |
| SG&A | $9.3M | $10.0M | $12.4M | $13.3M | $16.2M | $18.8M | $71.6M | $75.8M | $73.6M | $86.0M | $97.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $399.0K | $1.0M | $6.0K | $0.00 | $20.9M | $7.3M | $102.3M | $113.5M | $105.8M | $116.6M | $121.8M | |
| Cost of Revenue | $10.6M | $173.0K | $149.0K | $146.0K | $9.2M | $7.7M | $4.8M | $4.6M | $3.9M | $5.4M | $7.1M | |
| Gross Profit | -$10.2M | $845.0K | -$143.0K | -$146.0K | $11.8M | -$332.0K | $97.5M | $108.8M | $101.9M | $111.2M | $114.6M | |
| R&D | $11.6M | $12.8M | $21.5M | $43.9M | $53.0M | $64.6M | $16.7M | $13.8M | $12.0M | $13.7M | $39.2M | |
| SG&A | $9.3M | $10.0M | $12.4M | $13.3M | $16.2M | $18.8M | $71.6M | $75.8M | $73.6M | $86.0M | $97.4M | |
| Operating Income | -$20.4M | -$21.8M | -$33.8M | -$57.3M | -$57.4M | -$83.7M | $9.2M | -$67.2M | $16.2M | $11.5M | -$25.1M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$16.9M | -$21.6M | -$30.1M | -$55.2M | -$56.2M | -$87.9M | $9.4M | -$77.0M | $23.2M | $14.4M | -$25.5M | |
| Net Income | -$16.9M | -$21.6M | -$30.1M | -$55.2M | -$55.5M | -$87.9M | $2.3M | -$92.9M | $12.1M | $5.0M | -$25.0M | |
| EPS (Diluted) | -21.76 | -7.45 | -2.68 | -4.41 | -2.93 | -2.87 | 0.03 | -1.41 | 0.05 | 0.02 | -0.28 | |
| EBITDA | -$20.0M | -$21.6M | -$33.8M | -$55.0M | -$56.1M | -$87.6M | $10.5M | $20.3M | $17.8M | $16.9M | -$22.4M | |
| Shares Out. (M) | 0.78 | 3.42 | 11.21 | 12.00 | 19.18 | 30.64 | 75.69 | 65.83 | 102.29 | 103.18 | 106.30 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.3M | $14.5M | $31.2M | $15.4M | $30.4M | $44.3M | $25.2M | $33.5M | $11.8M | $37.1M | $41.6M | |
| Short-Term Investments | $6.8M | $18.0M | $88.9M | $61.5M | $49.0M | $2.5M | $0.00 | $0.00 | $14.9M | $15.4M | $0.00 | |
| Total Current Assets | $37.5M | $39.1M | $124.0M | $96.1M | $89.5M | $51.5M | $49.7M | $57.2M | $64.8M | $102.4M | $123.4M | |
| Total Assets | $38.1M | $39.5M | $124.9M | $98.6M | $94.8M | $55.7M | $84.8M | $116.5M | $125.4M | $166.1M | $201.3M | |
| Total Current Liabilities | $22.0M | $8.7M | $4.8M | $28.9M | $17.8M | $14.2M | $12.2M | $20.0M | $19.5M | $18.3M | $28.6M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.9M | |
| Total Liabilities | $22.0M | $8.7M | $5.0M | $30.2M | $18.8M | $14.6M | $12.5M | $102.6M | $27.0M | $23.9M | $35.2M | |
| Stockholders' Equity | $16.1M | $30.8M | $119.9M | $68.3M | $76.1M | $41.1M | $42.5M | -$15.8M | $63.3M | $106.0M | $108.0M | |
| Retained Earnings | -$148.0M | -$173.5M | -$203.3M | -$258.5M | -$314.8M | -$402.7M | $10.1M | -$85.5M | -$73.5M | -$68.4M | -$142.0M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.5M | -$19.9M | -$28.6M | -$43.6M | -$55.0M | -$83.8M | $10.7M | $25.9M | -$3.6M | $1.0M | -$23.2M | |
| Capital Expenditure | -$468.0K | -$23.0K | -$376.0K | -$64.0K | -$267.0K | -$839.0K | -$5.0M | -$8.6M | -$3.1M | -$1.2M | -$1.6M | |
| Free Cash Flow | -$18.9M | -$20.0M | -$28.9M | -$43.7M | -$55.3M | -$84.6M | $5.7M | $17.3M | -$6.8M | -$180.0K | -$24.7M | |
| Investing Cash Flow | -$1.3M | -$11.3M | -$71.3M | $27.4M | $9.7M | $48.2M | -$13.8M | -$19.8M | -$19.9M | -$474.0K | $10.3M | |
| Financing Cash Flow | $948.0K | $35.4M | $111.3M | $327.0K | $60.4M | $49.6M | $0.00 | $2.5M | $2.1M | $24.4M | $552.0K | |
| Issuance of Stock | $958.0K | $35.4M | $116.4M | $327.0K | $60.4M | $49.6M | $0.00 | $0.00 | $773.0K | $25.9M | $318.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$10.0K | -$14.3M | -$5.1M | $0.00 | $0.00 | -$6.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $635.0K | $863.0K | $2.6M | $3.2M | $3.6M | $3.4M | $13.4M | $7.3M | $831.0K | $7.2M | $11.0M | |
| Net Change in Cash | -$18.8M | $4.2M | $11.5M | -$15.9M | $15.0M | $14.0M | -$5.0M | $8.3M | -$21.7M | $25.3M | $1.2M |
Dilution Tracker
Shares outstanding grew 438.0% over 5 years — significant dilution
Shares Outstanding
106M
5-Year Share Growth
+438.0%
Stock Issuance (TTM)
$318.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.78 | 3.42 | 11.21 | 12.00 | 19.18 | 30.64 | 75.69 | 65.83 | 102.29 | 103.18 | 106.30 | |
| Change vs Prior % | — | 339.6% | 227.5% | 7.1% | 59.8% | 59.8% | 147.0% | -13.0% | 55.4% | 0.9% | 3.0% | |
| Stock Issuance | $958.0K | $35.4M | $116.4M | $327.0K | $60.4M | $49.6M | $0.00 | $0.00 | $773.0K | $25.9M | $318.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $635.0K | $863.0K | $2.6M | $3.2M | $3.6M | $3.4M | $13.4M | $7.3M | $831.0K | $7.2M | $11.0M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -2545.4% | 83.0% | -2383.3% | — | 56.3% | -4.5% | 95.3% | 95.9% | 96.3% | 95.4% | 94.1% | |
| Operating Margin % | -5117.3% | -2143.6% | -563700.0% | — | -273.9% | -1141.0% | 9.0% | -59.3% | 15.3% | 9.9% | -20.6% | |
| Net Margin % | -4246.9% | -2118.0% | -500916.7% | — | -265.1% | -1198.3% | 2.3% | -81.9% | 11.4% | 4.3% | -20.5% | |
| EBITDA Margin % | -5019.8% | -2126.6% | -563700.0% | — | -267.8% | -1194.4% | 10.3% | 17.9% | 16.8% | 14.5% | -18.4% | |
| FCF Margin % | -4746.9% | -1961.0% | -482150.0% | — | -264.1% | -1152.8% | 5.6% | 15.3% | -6.4% | -0.2% | -20.3% | |
| ROE % | -105.4% | -70.1% | -25.1% | -80.7% | -73.0% | -214.0% | 5.4% | 587.1% | 19.1% | 4.7% | -22.4% | |
| ROA % | -44.5% | -54.6% | -24.1% | -56.0% | -58.6% | -158.0% | 2.7% | -79.7% | 9.6% | 3.0% | -12.4% | |
| ROIC % | -57.5% | -60.9% | -28.2% | -81.7% | -72.9% | -192.6% | 5.8% | -69.5% | 11.7% | 5.3% | -14.3% | |
| R&D / Revenue % | 2896.0% | 1262.0% | 357900.0% | — | 252.9% | 880.0% | 16.3% | 12.1% | 11.4% | 11.7% | 32.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -77.2% | 155.1% | -99.4% | -100.0% | 0.0% | -65.0% | 1294.0% | 10.9% | -6.8% | 10.2% | |
| Gross Profit | -141.3% | 108.3% | -116.9% | -2.1% | 8171.9% | -102.8% | 29466.6% | 11.6% | -6.4% | 9.1% | |
| Operating Income | -47.9% | -6.9% | -55.0% | -69.3% | -0.2% | -45.9% | 111.0% | -830.5% | 124.1% | -29.2% | |
| Net Income | -14.8% | -27.2% | -39.4% | -83.6% | -0.7% | -58.3% | 102.6% | -4137.1% | 113.0% | -58.4% | |
| EPS (Diluted) | 56.5% | 65.8% | 64.0% | -64.6% | 33.6% | 2.0% | 101.0% | -4800.0% | 103.5% | -55.0% | |
| Operating Cash Flow | 3.4% | -7.9% | -43.2% | -52.7% | -26.2% | -52.1% | 112.7% | 142.5% | -114.1% | 127.7% | |
| Free Cash Flow | 2.3% | -5.4% | -44.9% | -51.0% | -26.6% | -52.9% | 106.7% | 204.7% | -139.1% | 97.3% | |
| R&D Expense | 93.9% | 11.2% | 67.2% | 104.2% | 20.8% | 21.9% | -74.2% | -17.4% | -12.7% | 13.9% | |
| SG&A Expense | -3.5% | 7.9% | 23.6% | 7.4% | 21.9% | 16.3% | 280.5% | 5.9% | -2.9% | 16.8% | |
| Total Assets | -45.2% | 3.7% | 216.1% | -21.1% | -3.8% | -41.3% | 52.3% | 37.5% | 7.6% | 32.5% | |
| Book Value / Share | -80.6% | -56.4% | 19.0% | -46.8% | -30.3% | -66.2% | -28.8% | -77.8% | 445.7% | 37.7% | |
| Debt | -42.5% | -73.8% | -100.0% | 0.0% | -8.8% | 45.1% | -74.3% | -33.3% | 290.7% | -41.2% | |
| Diluted Shares | 163.8% | 339.6% | 227.5% | 7.1% | 59.8% | 59.8% | 147.0% | -13.0% | 55.4% | 0.9% |
Valuation
P/E (TTM)At Loss
10Y Low / Med / High86.43 / 125.40 / 265.00
P/S4.15
10Y Low / Med / High5.41 / 57.00 / 221193.86
P/B4.69
10Y Low / Med / High5.95 / 14.15 / 23.86
EV/EBITDAAt Loss
10Y Low / Med / High35.15 / 57.22 / 81.57
EV/Revenue3.83
10Y Low / Med / High5.10 / 51.28 / 215991.70
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$1.52
Net Current Assets / Share
$0.83
Graham Net-Net
$0.35
Cash / Share
$0.39
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -6.72 | -27.46 | -44.16 | -23.16 | -32.30 | -4.76 | 265.00 | -18.22 | 86.43 | 125.40 | -17.07 | |
| P/S Ratio | 285.46 | 688.14 | 221193.86 | 0.00 | 86.66 | 57.00 | 5.88 | 14.91 | 9.74 | 5.41 | 4.15 | |
| P/B Ratio | 7.09 | 22.76 | 11.06 | 17.94 | 23.86 | 10.18 | 14.15 | -106.85 | 16.26 | 5.95 | 4.69 | |
| EV/EBITDA | -6.14 | -31.92 | -38.32 | -22.04 | -31.85 | -4.29 | 54.75 | 81.57 | 57.22 | 35.15 | -20.80 | |
| EV/Revenue | 308.36 | 678.92 | 215991.70 | 0.00 | 85.29 | 51.28 | 5.64 | 14.62 | 9.64 | 5.10 | 3.83 |
Analyst Estimates & Quality
Altman Z-Score
8.38
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $109.5M | $139.6M | $436.3M |
| Net Income | -$41.3M | -$24.2M | $181.6M |
| EPS | $-0.40 | $-0.23 | $1.76 |
| # Analysts (EPS) | 2 | 1 | 1 |
Dividends
Frequency
Quarterly
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Jan 13, 2023 | $0.24 | Quarterly | |
| Sep 21, 2022 | $1.43 | Quarterly | |
| Aug 20, 2015 | $0.57 | Quarterly |
Revenue Segments
By Product
| Segment | 2021 | 2022 | 2024 |
|---|---|---|---|
| Collaboration Revenue | $7.3M | $794.0K | — |
| Product | — | — | $105.8M |