Kyntra Bio, Inc.

For the second quarter of 2026, total revenue was -$1.5 million versus $1.3 million in the same period of 2025. Total operating costs and expenses were $16.1 million versus $13.4 million a year ago, with R&D at $6.8 million versus $5.9 million and SG&A at $9.3 million versus $7.1 million. The company reported net income from continuing operations of $12 million, or $2.96 per basic and diluted share, compared with a net loss of $13.7 million, or $3.38 per basic and diluted share last year. As of June 30, cash equivalents, investments, and accounts receivable were $95.7 million, and management said this supports a cash runway into 2028. Forward-looking guidance remains for FG-3246 interim analysis in Q4 2026, mature rPFS data to emerge through 2027, and initiation of the roxadustat Phase III trial in Q4 2026.

Thane Wettig framed the quarter around two clinical catalysts: FG-3246/FG-3180 in mCRPC and roxadustat in lower-risk MDS. He said the FG-3246 Phase II study is actively enrolling and designed to improve on prior results through higher doses, G-CSF prophylaxis, and earlier-line patients, with an interim readout expected in Q4 2026. On roxadustat, he said the Phase III protocol is finalized and the company is advancing toward a Q4 2026 start, while continuing to evaluate both self-development and partnership options.

David DeLucia focused on the quarter’s financials and liquidity. He reported total operating costs and expenses of $16.1 million, R&D of $6.8 million, and SG&A of $9.3 million, and noted the company had $95.7 million in cash equivalents, investments, and accounts receivable at June 30. He said the balance sheet supports a cash runway into 2028 and allows continued investment in the U.S. pipeline.

Analysts asked mainly about roxadustat dosing, partnership timing, and how the MATTERHORN data affects strategy. Management said dose up-titration or down-titration can occur every six weeks based on benefit-risk, with specific site guidance tied to hemoglobin level and rate of rise. On the partnership question, Thane said the company is running a parallel path of internal development and partnering, and that economics matter: self-development would involve a mid-single-digit royalty to AstraZeneca, while a partnered deal would route 35% of economics to AstraZeneca. For FG-3246, management said about 30% of enrolled randomized patients had prior Pluvicto, that prior exposure is being analyzed pre-specified, and that tissue, PSMA scans, PET scans, and ctDNA are being collected where feasible.