Gyre Therapeutics, a commercial-stage biotechnology company, reported a net income of $4.5 million for the three months ended June 30, 2024, and $14.5 million for the six months ended June 30, 2024. This represents an increase from the previous year's figures of $3.8 million and $8.0 million, respectively, for the same periods. The company's accumulated deficit as of June 30, 2024, was $74.5 million, with cash and cash equivalents totaling $16.1 million. Gyre Therapeutics focuses on developing and commercializing anti-inflammatory and anti-fibrotic drugs, with a particular emphasis on organ fibrosis. The company has successfully commercialized ETUARY (Pirfenidone) in multiple regions and is expanding its product portfolio through acquisitions and clinical trials. In May 2024, Gyre acquired rights to nintedanib, a drug for idiopathic pulmonary fibrosis, and received approval...Show More

Gyre Therapeutics, a commercial-stage biotechnology company, reported a net income of $4.5 million for the three months ended June 30, 2024, and $14.5 million for the six months ended June 30, 2024. This represents an increase from the previous year's figures of $3.8 million and $8.0 million, respectively, for the same periods. The company's accumulated deficit as of June 30, 2024, was $74.5 million, with cash and cash equivalents totaling $16.1 million. Gyre Therapeutics focuses on developing and commercializing anti-inflammatory and anti-fibrotic drugs, with a particular emphasis on organ fibrosis. The company has successfully commercialized ETUARY (Pirfenidone) in multiple regions and is expanding its product portfolio through acquisitions and clinical trials. In May 2024, Gyre acquired rights to nintedanib, a drug for idiopathic pulmonary fibrosis, and received approval for avatrombopag maleate tablets for thrombocytopenia associated with chronic liver disease. The company is also advancing its lead candidate, F351, for liver fibrosis treatment, with a Phase 3 trial ongoing in the PRC and plans for a Phase 2a trial in the United States. Gyre Therapeutics has regained compliance with Nasdaq's audit committee composition requirements after recent board appointments. Looking ahead, the company intends to use cash flows from operations to meet financial obligations and fund operations, including clinical trials and potential commercial launches.