Kyntra Bio Reports 36% Revenue Growth to $3.738 Million in Q1 2026

Kyntra Bio, Inc. reported a total revenue of $3.738 million for the first quarter of 2026, marking a 36% increase from $2.739 million in the same period of 2025. The revenue growth was primarily driven by a 35% rise in drug product revenue, which reached $3.492 million, up from $2.595 million a year earlier. This increase was attributed to higher sales under the Astellas Europe Agreement, which contributed $5.683 million, compared to $814,000 in the previous year. However, the company experienced a reduction in revenue from the Astellas Japan Agreement, which resulted in a negative adjustment of $2.191 million due to changes in estimated variable consideration.

Despite the revenue increase, Kyntra Bio reported a net loss of $15.198 million for the quarter, compared to a profit of $4.639 million in the same period last year. The loss per share was $(3.76), an improvement from $(4.15) in the prior year. Operating costs and expenses remained relatively stable at $17.556 million, slightly down from $17.659 million in the previous year. The company noted a significant increase in the cost of goods sold, which rose to $4.106 million, primarily due to the costs associated with drug product revenue.

In terms of strategic developments, Kyntra Bio underwent a rebranding from FibroGen, Inc. in January 2026, reflecting its renewed focus on oncology and rare disease assets. The company is actively developing FG-3246, an antibody-drug conjugate targeting CD46 for the treatment of metastatic castration-resistant prostate cancer (mCRPC). A Phase 2 clinical trial for FG-3246 is currently underway, with interim results expected in late 2026. Additionally, Kyntra Bio has retained rights to roxadustat in the U.S., Canada, and Mexico, while AstraZeneca commercializes the drug in Europe and Japan.

As of March 31, 2026, Kyntra Bio's total assets amounted to $109.629 million, a decrease from $119.594 million at the end of 2025. The company reported cash and cash equivalents of $36.997 million, down from $47.872 million at the end of the previous year. The decline in cash was primarily due to cash used in operations. The company’s liabilities totaled $118.919 million, with a stockholders' deficit of $43.803 million. Kyntra Bio anticipates that its existing cash and cash equivalents will be sufficient to fund its planned operating requirements for at least the next 12 months.

Looking ahead, Kyntra Bio is focused on advancing its clinical programs and exploring potential partnerships to support its development efforts. The company is also finalizing the Phase 3 trial protocol for roxadustat in treating anemia associated with lower-risk myelodysplastic syndromes (MDS), which has received Orphan Drug Designation from the FDA. The company remains committed to addressing significant unmet medical needs in oncology and rare diseases while navigating the challenges of its ongoing financial and operational landscape.