--- title: "Cypherpunk Tech | 8-K: FY2026 Q2 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/295655731.md" datetime: "2026-08-12T11:15:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295655731.md) - [en](https://longbridge.com/en/news/295655731.md) - [zh-HK](https://longbridge.com/zh-HK/news/295655731.md) --- # Cypherpunk Tech | 8-K: FY2026 Q2 Revenue: USD 0 Revenue: As of FY2026 Q2, the actual value is USD 0. EPS: As of FY2026 Q2, the actual value is USD 0.18. EBIT: As of FY2026 Q2, the actual value is USD -4.632 M. Cypherpunk Technologies Inc. announced its financial results for the quarter ended June 30, 2026, and provided an operational update on the DeFianCe study results for sirexatamab. The detailed financial metrics are not included in the provided reference material for the full press release, but specific items were highlighted . #### Net Income (Loss) Cypherpunk Technologies Inc. reported a net income of $39.389 million for the three months ended June 30, 2026, compared to a net loss of -$16.643 million for the same period in 2025 . For the six months ended June 30, 2026, the net loss was -$37.777 million, compared to a net loss of -$32.078 million for the six months ended June 30, 2025 . #### Operating Expenses - **Research and Development (R&D) Expenses** decreased to $0.197 million for the three months ended June 30, 2026, from $10.537 million in the prior year period . For the six months ended June 30, 2026, R&D expenses were $0.358 million, down from $23.448 million in the comparable 2025 period . - **General and Administrative (G&A) Expenses** increased to $4.492 million for the three months ended June 30, 2026, from $1.817 million in the prior year period . For the six months ended June 30, 2026, G&A expenses were $9.148 million, up from $4.823 million in the comparable 2025 period . - **Restructuring Charges** were $0 million for both the three and six months ended June 30, 2026, compared to $4.527 million for both periods in 2025 . - **Total Operating Expenses** were $4.689 million for the three months ended June 30, 2026, down from $16.881 million in the prior year . For the six months ended June 30, 2026, total operating expenses were $9.506 million, a decrease from $32.798 million in the comparable 2025 period . #### Loss from Operations Loss from operations was -$4.689 million for the three months ended June 30, 2026, compared to -$16.881 million for the same period in 2025 . For the six months ended June 30, 2026, loss from operations was -$9.506 million, compared to -$32.798 million for the same period in 2025 . #### Change in Fair Value of Embedded Derivative Cypherpunk Technologies Inc. recorded a $45.993 million gain on the change in fair value of the embedded derivative for the three months ended June 30, 2026, primarily due to a $46.0 million unrealized gain on the fair value of the company’s ZEC treasury holdings . For the six months ended June 30, 2026, there was a -$31.562 million change in fair value of the embedded derivative . #### Cash and Cash Equivalents Cash and cash equivalents totaled $7.624 million as of June 30, 2026, compared to $14.035 million as of December 31, 2025 . #### Digital Assets Receivable (ZEC Treasury Holdings) Digital assets receivable, representing ZEC treasury holdings, totaled $129.387 million as of June 30, 2026, based on a ZEC price of $400.09, compared to $147.404 million as of December 31, 2025 . As of August 11, 2026, Cypherpunk Technologies Inc. held 323,394.38 ZEC at an average purchase price of $341.83 . #### Cash Flow from Operating Activities Cash used in operating activities was -$2.692 million for the three months ended June 30, 2026, an improvement from -$14.486 million used in the prior year period . For the six months ended June 30, 2026, cash used in operating activities was -$6.122 million, compared to -$28.966 million in the prior year period . #### Cash Flow from Investing Activities Cash used in investing activities was -$9.544 million for the three months ended June 30, 2026, compared to $0 million in the prior year period . For the six months ended June 30, 2026, cash used in investing activities was -$18.544 million, compared to $0 million in the prior year period . #### Cash Flow from Financing Activities Cash provided by financing activities was $13.167 million for the three months ended June 30, 2026, compared to -$0.119 million used in the prior year period . For the six months ended June 30, 2026, cash provided by financing activities was $18.242 million, compared to -$0.180 million used in the prior year period . #### Operational Metrics: DeFianCe Study Results (Sirexatamab) Cypherpunk Technologies Inc.’s biotechnology subsidiary, Leap Therapeutics, Inc., published results from the randomized Phase 2 DeFianCe study of sirexatamab (DKN-01) . The study was a two-part, randomized, open-label, multicenter Phase 2 study with a primary endpoint of investigator-assessed progression-free survival (PFS) . - **Results for DKK1-high patients above the median (n=88):** Objective Response Rate (ORR) was 38.0% in the Sirexatamab Arm versus 23.7% in the Control Arm . Median PFS was 9.0 months versus 7.1 months (HR 0.61; p=0.0255), and median Overall Survival (OS) was not reached versus 14.4 months (HR 0.42; p=0.0118) . - **Results for DKK1-high patients in the upper quartile (n=44):** ORR was 44.0% in the Sirexatamab Arm versus 15.8% in the Control Arm (p=0.0149) . Median PFS was 9.4 months versus 5.9 months (HR 0.46; p=0.0168), and median OS was not reached versus 9.5 months (HR 0.17; p<0.001) . - **Results in the overall intent-to-treat (ITT) population:** The prespecified primary endpoint of PFS was not met, with median PFS of 9.2 months in the Sirexatamab Arm versus 8.3 months in the Control Arm (HR 0.84) . ORR was 35.1% versus 26.6%, and median OS was not reached in either arm (HR 0.83) . - **Safety:** Sirexatamab combined with chemotherapy and bevacizumab was generally well tolerated . Grade 3 or higher treatment-emergent adverse events (TEAEs) occurred in 59.3% of patients in the Sirexatamab Arm versus 67.0% in the Control Arm . Serious TEAEs were comparable between arms (19.8% versus 19.3%), and TEAEs leading to discontinuation of sirexatamab occurred in 4.4% of patients . #### Outlook/Guidance Cypherpunk Technologies Inc. plans to conduct a biomarker-selected Phase 3 trial for sirexatamab and is pursuing regulatory alignment with the FDA . The company is also evaluating strategic processes for sirexatamab’s Phase 3 development, which may include independent financing or a strategic transaction, though there is no assurance of favorable terms or a set timetable . 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