Cyclerion soars on merger deal with Korsana

Korsana Biosciences

01/04/2026 14:16

Updates

** Shares of biotech firm Cyclerion Therapeutics CYCN.O soar nearly threefold to $4.83 in premarket trading

** Co says it will merge with private firm Korsana Biosciences and focus on treatments for Alzheimer's, a neurodegenerative disorder that impacts memory and thinking

** Cyclerion shareholders will own about 1.5% of the new company, which will trade as Korsana Biosciences on Nasdaq under "KRSA"

** CYFN says combined entity to get $380 mln in private funding led by Fairmount and Venrock, enough to fund operations through 2029

** CYFN to build on Korsana's lead experimental drug, KRSA-028, an antibody treatment being developed to treat Alzheimer's by targeting toxic brain proteins

** Says early testing among healthy volunteers planned for mid-2027, with initial patient data due later that year

** As of last close, stock up ~22% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))