US Market News
3週前
Cypherpunk Technologies Reports First Quarter 2026 Financial ResultsMay 14, 2026 7:05 AM
PR Newswire (US) CAMBRIDGE, Mass., May 14, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc., (Nasdaq: CYPH) ("Cypherpunk"), today reported financial results for the first quarter ended March 31, 2026."Since the start of 2026, Cypherpunk has advanced the mission to become a leading privacy technology company with a digital asset treasury strategy focused on Zcash by making our first privacy technology investment and increasing our treasury holdings to 314,185.70 ZEC," said Douglas E. Onsi, President and CEO of Cypherpunk Technologies. "At AACR 2026, our Leap Therapeutics subsidiary presented a new DKK1 biomarker assay developed to support the selection of patients likely to benefit from sirexatamab therapy, along with the positive outcomes from our DeFianCe colorectal cancer study generated in patients with high DKK1 levels. In addition, sirexatamab received Fast Track designation from the FDA in May 2026.""Privacy-protecting assets and related technologies will be critical in the increasingly digital and AI driven world. Our $5 million investment in Zcash Open Development Labs (ZODL), the core developers of the Zcash Network and Zodl, the leading Zcash wallet, reflects our commitment to supporting the Zcash ecosystem and to building innovative companies that make the promise of private digital money a reality," said Will McEvoy, Chief Investment Officer of Cypherpunk.Cypherpunk Highlights:Increased Zcash treasury holdings to 314,185.70 ZECFrom the last update on April 15, 2026 through May 13, 2026, Cypherpunk purchased an additional 10,279.30 ZEC for $5 million at an average purchase price of $486.41 per ZEC.As of May 13, 2026, Cypherpunk held a total of 314,185.70 ZEC at an average purchase price of $337.86, representing approximately 1.88% of the total circulating supply of the Zcash network.ZEC is a digital currency that can be transmitted over a peer-to-peer payment system. Zcash uses a cryptographic method called "zero-knowledge proofs" to allow users to engage in financial transactions while maintaining greater privacy.Invested $5 million into Zcash Open Development Labs (ZODL)In March 2026, Cypherpunk expanded its holdings with a $5 million investment in ZODL, alongside key investors including a16z, Winklevoss Capital, Coinbase, Paradigm, Chapter One, David Friedberg, Balaji Srinivasan, and others. This marked Cypherpunk's first technology investment outside of ZEC. ZODL, which houses the top Zcash wallet, Zodl, aims to make Zcash easier to use with continued development of the wallet and support of the Zcash protocol.Launched new website and investor dashboard at cypherpunk.comThe Company launched its new website and investor dashboard at cypherpunk.com. The dashboard provides shareholders with direct visibility into the Company's key metrics, ZEC holdings, other privacy investments, and Zcash network metrics.Leap Therapeutics Subsidiary Highlights:Sirexatamab received Fast Track designation from FDAIn May 2026, the U.S. Food and Drug Administration (FDA) granted Fast Track designation to sirexatmab in combination with fluoropyrimidine plus oxaliplatin- or irinotecan-based chemotherapy and bevacizumab, for the treatment of patients with DKK1-high metastatic colorectal cancer whose disease has progressed following one prior systemic therapy.The Fast Track program is intended to facilitate the development and expedite the review of drug candidates and vaccines that treat serious conditions and fill an unmet medical need. Programs with Fast Track designation may benefit from frequent communication with the FDA, in addition to a rolling submission of the marketing application.Presented new plasma DKK1 biomarker assay and results based on Part B of the DeFianCe study of sirexatamab plus bevacizumab and chemotherapy in colorectal cancer ("CRC") patients at the American Association for Cancer Research (AACR) 2026:At AACR 2026 in April, the Company presented a new plasma DKK1 biomarker assay that could be used as a companion diagnostic to select patients who would benefit from treatment with sirexatamab, the Company's anti-DKK1 monoclonal antibody.The new plasma DKK1 biomarker assay was used to test the patient samples from Part B of the DeFianCe study, a Phase 2 study of sirexatamab in combination with bevacizumab and chemotherapy compared to bevacizumab and chemotherapy in patients with microsatellite stable CRC who have received one prior systemic therapy for advanced disease.Sirexatamab demonstrated a statistically significant benefit on overall response rate ("ORR") and overall survival ("OS") in patients with high levels of DKK1 using the new plasma DKK1 biomarker assay.50% of patients had DKK1-high levels > 380 pg/ml, and in this subgroup of patients (n=87):ORR was 42% (including one complete response) in the Sirexatamab Arm vs. 16% ORR in the Control Arm, p-value = 0.003.mOS was not reached in the Sirexatamab Arm vs. 14.39 months in the Control Arm, HR 0.47, p-value = 0.0244.DKK1 plasma levels from patients in the DeFianCe study were similar to commercially acquired CRC patient samples.Selected First Quarter 2026 Financial ResultsNet loss was $77.2 million for the first quarter 2026, compared to $15.4 million for the first quarter of 2025. The increase was primarily due to unrealized losses on the fair value of the Company's ZEC treasury holdings which are marked to market at the end of each period. During the first quarter of 2026, the price of ZEC declined from $508.09 to $240.47.Research and development expenses were $0.2 million for the three months ended March 31, 2026, compared to $12.9 million for the same period in 2025. The decrease for the three months ended March 31, 2026 was primarily due to a decrease in clinical trial costs and manufacturing costs due to the completion of our clinical trials.General and administrative expenses were $4.7 million for the three months ended March 31, 2026, compared to $3.0 million for the same period in 2025. The increase for the three months ended March 31, 2026 was primarily due to an increase in stock-based compensation expense due to RSUs granted to employees and directors.During the three months ended March 31, 2026, the Company recorded a $77.6 million unrealized loss on the change in fair value of the Company's ZEC treasury holdings as the price of ZEC declined during the first quarter of 2026 from $508.09 to $240.47.Cash and cash equivalents totaled $6.7 million on March 31, 2026, and ZEC treasury holdings, categorized as digital asset receivable, totaled $73.8 million based on the ZEC price of $240.47 on March 31, 2026.About CypherpunkCypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov.About Winklevoss CapitalWinklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.FORWARD-LOOKING STATEMENTSThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to the value of the Company's ZEC holdings, the investment in ZODL, or digital assets held or to be held by the Company, the expected future market, price, and liquidity of ZEC or other digital assets the Company acquires, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the digital asset treasury strategy include, among others: (a) risks relating to the Company's operations and business, including the highly volatile nature of the price of ZEC; (b) the risk that material changes in the price of ZEC, such as decreases in price, will result in significant changes to the Company's financial statements, such as unrealized losses on fair value of ZEC holdings and net loss; (c) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC; (d) the risk that the Company will fail to realize the anticipated benefits of the ZEC digital asset treasury strategy or the investment in ZODL; (e) risks related to the custody of our ZEC and our reliance on Gemini Space Station and its affiliates for trading and custody services; (f) changes in business, market, financial, political and regulatory conditions; (g) risks related to increased competition in the industries in which the Company does and will operate; (h) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (i) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and (j) the ability to comply with the continued listing requirements of the Nasdaq Capital Market. With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our capital requirements and our ability to raise additional financing to support continued development; (iii) the success of other competing therapies that may become available; (iv) the manufacturing capacity for sirexatmab; and (v) our ability to maintain and protect our intellectual property rights.New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.Cypherpunk Technologies Inc.Consolidated Balance Sheets(in thousands, except share and per share amounts)
March 31,
December 31,
2026
2025
(Unaudited)
Assets
Current assets:
Cash and cash equivalents
$ 6,689
$ 14,035
Digital assets receivable
73,849
147,404
Research and development incentive receivable
616
602
Prepaid expenses and other current assets
768
40
Total current assets
81,922
162,081
Right of use assets, net
38
38
Deferred costs
385
401
Deposits
33
662
Other investment
5,000
-
Total assets
$ 87,378
$ 163,182Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$ 516
$ 1,981
Accrued expenses
1,966
2,067
Income tax payable
483
472
Lease liability
38
38
Total current liabilities
3,003
4,558
Non-current liabilities:
Deferred tax liability
-
5,118
Total liabilities
3,003
9,676
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued
and outstanding as of March 31, 2026 and December 31, 2025, respectively
-
-
Common stock, $0.001 par value; 490,000,000 shares authorized; 93,927,528 and 83,851,051
shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
94
84
Stock subscription receivable
-
(150)
Additional paid-in capital
624,082
616,216
Accumulated other comprehensive loss
(86)
(95)
Accumulated deficit
(539,715)
(462,549)
Total stockholders' equity
84,375
153,506
Total liabilities and stockholders' equity
$ 87,378
$ 163,182Cypherpunk Technologies Inc.Consolidated Statements of Operations(in thousands, except share and per share amounts)
(Unaudited)
Three Months Ended March 31
2026
2025
Operating expenses:
Research and development
$ 161
$ 12,911
General and administrative
4,656
3,006
Total operating expenses
4,817
15,917Loss from operations
(4,817)
(15,917)Interest income
95
437Interest expense
(7)
(6)Australian research and development incentives
-
55Change in fair value of embedded derivative
(77,555)
-Foreign currency loss
-
(4)Loss before income taxes
(82,284)
(15,435)Benefit from income taxes
5,118
-Net loss attributable to common stockholders
$ (77,166)
$ (15,435)
Net loss per share
Basic and Diluted
$ (0.46)
$ (0.37)
Weighted average common shares outstanding
Basic and diluted
168,103,535
41,268,894 Cypherpunk Technologies Inc. Condensed Consolidated Statements of Cash Flows (in thousands)
(Unaudited)
Three Months Ended March 31,
2026
2025
Cash used in operating activities
$ (3,430)
$ (14,480) Cash used in investing activities
(9,000)
- Cash provided by (used in) financing activities
5,075
(61) Effect of exchange rate changes on cash and cash equivalents
9
5 Net decrease in cash and cash equivalents
(7,346)
(14,536) Cash and cash equivalents at beginning of period
14,035
47,249 Cash and cash equivalents at end of period
$ 6,689
$ 32,713CONTACT:
Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360For Investors:Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.comFor Media:Jacqueline Ortiz Ramsey
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.com View original content to download multimedia:https://www.prnewswire.com/news-releases/cypherpunk-technologies-reports-first-quarter-2026-financial-results-302771640.htmlSOURCE Cypherpunk Technologies Inc. Original: Cypherpunk Technologies Reports First Quarter 2026 Financial Results
US Market News
2月前
Cypherpunk Increases its Zcash Stake, Launches New Website and Investor DashboardApril 15, 2026 12:33 PM
PR Newswire (US)
CAMBRIDGE, Mass., April 15, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc., (Nasdaq: CYPH) today announced its latest purchase of 9,163.32 ZEC for $2,150,000 at an average purchase price of $234.63 per ZEC and launched its new website and investor dashboard at cypherpunk.com. Cypherpunk also notified investors that all future announcements regarding ZEC acquisitions and company updates will be made through the company's digital channels moving forward.New Zcash PurchaseThis new purchase brings Cypherpunk's total ZEC holdings to 303,906.40, at an average price of $332.83, bringing the company's total network ownership to 1.82%.New Website and DashboardThe newly launched website (cypherpunk.com) features a dedicated investor dashboard providing visibility into the company's key metrics, ZEC holdings, and other privacy investments along with Zcash network metrics. The dashboard is designed to give shareholders direct access to the information that matters most to Cypherpunk's investor base.Future Disclosure ChannelsConsistent with its commitment to transparency and direct communication with shareholders, Cypherpunk will announce future ZEC acquisitions, updates, and other material non-public developments through the following channels:Website: cypherpunk.comX: @cypherpunkLinkedIn: https://www.linkedin.com/company/cypherpunk-technologies-inc/SEC Filings: Available via EDGAR at sec.gov and the Investors section of cypherpunk.comThe content of Cypherpunk's website and information that Cypherpunk may post on social media channels, including those mentioned above, are not incorporated by reference into any report or document the Company files with the Securities and Exchange Commission, and any references to the Company's website or these social media channels are intended to be inactive textual references only. Investors are encouraged to follow these channels and enable notifications to stay current with company updates. This press release marks the final time the company will use a traditional wire release for routine ZEC treasury announcements.About CypherpunkCypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, Inc., the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov.About Winklevoss CapitalWinklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.FORWARD-LOOKING STATEMENTSThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to ZEC held by the Company, the expected future market, price and liquidity of ZEC, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position, technological and market trends, and future financial condition and performance. Risks and uncertainties of the Company's strategy include, among others: (a) risks relating to the Company's operations and business, including the highly volatile nature of the price of cryptocurrencies, including ZEC; (b) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC; (c) risks related to increased competition in the industries in which the Company does and will operate; (d) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (e) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and (f) the ability to comply with the continued listing requirements of the Nasdaq Capital Market. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.CONTACT: Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.comFor Media:
Jacqueline Ortiz Ramsey
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.comLogo - https://mma.prnewswire.com/media/2820582/Cypherpunk_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cypherpunk-increases-its-zcash-stake-launches-new-website-and-investor-dashboard-302743515.html
Original: Cypherpunk Increases its Zcash Stake, Launches New Website and Investor Dashboard
US Market News
2月前
Cypherpunk Increases its Zcash Stake, Launches New Website and Investor DashboardApril 15, 2026 12:21 PM
PR Newswire (US)
CAMBRIDGE, Mass., April 15, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc., (Nasdaq: CYPH) today announced its latest purchase of 9,163.32 ZEC for $2,150,000 at an average purchase price of $234.63 per ZEC and launched its new website and investor dashboard at cypherpunk.com. Cypherpunk also notified investors that all future announcements regarding ZEC acquisitions and company updates will be made through the company's digital channels moving forward.New Zcash PurchaseThis new purchase brings Cypherpunk's total ZEC holdings to 303,906.40, at an average price of $332.83, bringing the company's total network ownership to 1.82%.New Website and DashboardThe newly launched website (cypherpunk.com) features a dedicated investor dashboard providing visibility into the company's key metrics, ZEC holdings, and other privacy investments along with Zcash network metrics. The dashboard is designed to give shareholders direct access to the information that matters most to Cypherpunk's investor base.Future Disclosure ChannelsConsistent with its commitment to transparency and direct communication with shareholders, Cypherpunk will announce future ZEC acquisitions, updates, and other material non-public developments through the following channels:Website: cypherpunk.comX: @cypherpunkLinkedIn: https://www.linkedin.com/company/cypherpunk-technologies-inc/SEC Filings: Available via EDGAR at sec.gov and the Investors section of cypherpunk.comThe content of Cypherpunk's website and information that Cypherpunk may post on social media channels, including those mentioned above, are not incorporated by reference into any report or document the Company files with the Securities and Exchange Commission, and any references to the Company's website or these social media channels are intended to be inactive textual references only. Investors are encouraged to follow these channels and enable notifications to stay current with company updates. This press release marks the final time the company will use a traditional wire release for routine ZEC treasury announcements.About CypherpunkCypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, Inc., the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov.About Winklevoss CapitalWinklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.FORWARD-LOOKING STATEMENTSThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to ZEC held by the Company, the expected future market, price and liquidity of ZEC, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position, technological and market trends, and future financial condition and performance. Risks and uncertainties of the Company's strategy include, among others: (a) risks relating to the Company's operations and business, including the highly volatile nature of the price of cryptocurrencies, including ZEC; (b) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC; (c) risks related to increased competition in the industries in which the Company does and will operate; (d) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (e) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and (f) the ability to comply with the continued listing requirements of the Nasdaq Capital Market. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.CONTACT: Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.comFor Media:
Jacqueline Ortiz Ramsey
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/cypherpunk-increases-its-zcash-stake-launches-new-website-and-investor-dashboard-302743497.htmlSOURCE Cypherpunk Technologies Inc.
Original: Cypherpunk Increases its Zcash Stake, Launches New Website and Investor Dashboard
US Market News
3月前
Cypherpunk Reports Full Year 2025 Financial ResultsMarch 16, 2026 4:50 PM
PR Newswire (US)
CAMBRIDGE, Mass., March 16, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc., (Nasdaq: CYPH) ("Cypherpunk"), today reported financial results for the year ended December 31, 2025."2025 was a transformational year. Following a $58.88 million private placement led by Winklevoss Capital, we rebranded as Cypherpunk to become a privacy technology company with a digital asset treasury strategy focused on Zcash, while advancing sirexatamab for the treatment of patients with colorectal cancer through our Leap Therapeutics subsidiary," said Douglas E. Onsi, President and CEO of Cypherpunk."Since we began operating as Cypherpunk in October, we have purchased 294,743.10 ZEC for our treasury and made a $5 million strategic investment in Zcash Open Development Lab ("ZODL"), the development team behind Zodl, the leading Zcash wallet. In the year ahead, we will remain focused on advancing the adoption of Zcash and expanding our efforts across a broad set of technologies that defend privacy," said Will McEvoy, Chief Investment Officer of Cypherpunk.Cypherpunk Highlights:Closed a $58.88 million private placement in cash led by Winklevoss CapitalIn October 2025, the Company raised $58,888,888 in cash led by Winklevoss Capital to become the leading public company focused on advancing privacy preserving technologies. In the transaction, the Company issued: (i) 15,212,311 shares of common stock, (ii) pre-funded warrants to purchase up to an aggregate of 80,768,504 shares of common stock at an exercise price of $0.001 per share, and (iii) warrants to purchase an additional 71,985,605 shares of common stock at an exercise price of $0.5335 per share. Appointed digital asset executives and industry leaders as board members and strategic advisorsIn November 2025, the Company appointed Khing Oei as Chairman of the Board of Directors, and Will McEvoy as Chief Investment Officer and a Board member.In December 2025, the Company announced that industry pioneer Zooko Wilcox, the founder of Zcash, former CEO of the Electric Coin Company, and current Chief Product Officer of Shielded Labs, joined the company as a Strategic Advisor.In December 2025, the Company announced that Josh Swihart, Chief Executive Officer of ZODL, joined the company as a Strategic Advisor.In January 2026, the Company announced that Arjun Khemani, a prominent voice in the Zcash ecosystem and the "philosophy of progress" movement, joined the company as a Strategic Advisor.Increased treasury holdings to 294,743.10 ZECAs of March 12, 2026, Cypherpunk holds a total of 294,743.10 ZEC, at an average purchase price of $335.89, representing approximately 1.78% of the total circulating supply of the Zcash network.The Company believes that privacy-protecting assets and related technologies will be critical in the increasingly digital and AI driven world. The Company intends to acquire and hold ZEC, the native coin of Zcash, as its primary digital asset and to be an active participant in the Zcash community.ZEC is a digital currency that can be transmitted over a peer-to-peer payment system. Zcash uses a cryptographic method called "zero-knowledge proofs" to allow users to engage in financial transactions while maintaining greater privacy.Invested $5 million into ZODLIn March 2026, the Company expanded its holdings with a $5 million investment in Zcash company, ZODL, alongside key investors including a16z, Winklevoss Capital, Coinbase, Paradigm, Chapter One, David Friedberg, Balaji Srinivasan, and others. This marks Cypherpunk's first technology investment outside of ZEC. ZODL, which now houses the top Zcash wallet, Zodl, aims to make Zcash easier to use with continued development of the wallet and support of the Zcash protocol.Leap Therapeutics Subsidiary Highlights:Presented final clinical data from Part B of the DeFianCe study of sirexatamab plus bevacizumab and chemotherapy in colorectal cancer ("CRC") patientsIn a Mini Oral session at the ESMO Congress in October 2025, the Company presented the final results from Part B of the DeFianCe study, a Phase 2 study of sirexatamab, an anti-DKK1 monoclonal antibody, in combination with bevacizumab and chemotherapy compared to bevacizumab and chemotherapy in patients with microsatellite stable CRC who have received one prior systemic therapy for advanced disease. Sirexatamab demonstrated a statistically significant benefit on overall response rate ("ORR"), progression-free survival ("PFS"), and Overall Survival ("OS") in patients with high levels of DKK1, along with a positive trend on ORR and PFS in the full intent-to-treat population.Across the DKK1-high (upper quartile) patients (n=44):ORR was 44.0% in the Sirexatamab Arm vs. 15.8% ORR in the Control Arm,
p-value = 0.0149.mPFS was 9.36 months in the Sirexatamab Arm vs. 5.88 months in the Control Arm, HR 0.46, p-value = 0.0168.mOS was not reached in the Sirexatamab Arm vs. 9.66 months in the Control Arm, HR 0.17, p-value < 0.001.Advancing DKK1 biomarker diagnostic test and engaging with regulatory authoritiesLeap is engaging with regulatory agencies to discuss the registrational pathway for sirexatamab in DKK1-high CRC patients. Leap is also working with a leading diagnostics research laboratory to optimize the DKK1 biomarker diagnostic test that could be used to identify DKK1-high CRC patients with poor prognosis and to select patients for treatment with sirexatamab. Leap expects to provide an update on the next steps in sirexatamab development and on the registrational pathway in the coming weeks.Selected Year-End 2025 Financial Results Net Income was $4.8 million for the year ended December 31, 2025, compared to a Net Loss of $67.8 million for the year ended December 31, 2024. The increase was primarily due to $50.4 million of unrealized gains on the fair value of the Company's ZEC treasury holdings which are marked to market at the end of each period, as well reductions in research and development expenses and general and administrative expenses due to the completion of the sirexatamab Phase 2 clinical development program and a reduction in force of full-time employees.Research and development expenses were $25.7 million for the full year 2025, compared to $57.2 million for the same period in 2024. The decrease for the full year 2025 was primarily due to a decrease in clinical trial costs and manufacturing costs during the year ended December 31, 2025. There was also a decrease in payroll and other related expenses due to a decrease in headcount, a decrease in stock based compensation expense, and a decrease in consulting fees.General and administrative expenses were $10.9 million for the full year 2025, compared to $12.8 million for the same period in 2024. The decrease for the full year 2025 was primarily due to a decrease in payroll and other related expenses due to a decrease in incentive based compensation expense and a decrease in headcount. This decrease was partially offset by an increase in stock based compensation expense due to RSUs granted, and an increase in professional fees during the year ended December 31, 2025. During the year ended December 31, 2025, the Company recorded a $50.4 million unrealized gain on the change in fair value of the Company's ZEC treasury holdings.Cash and cash equivalents totaled $14.0 million on December 31, 2025, and ZEC treasury holdings, categorized as a digital asset receivable, totaled $147.4 million on December 31, 2025.About CypherpunkCypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, Inc., the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov or via https://investors.leaptx.com/. About Winklevoss CapitalWinklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.FORWARD-LOOKING STATEMENTSThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to the value of the Company's ZEC holdings, the investment in ZODL, or digital assets held or to be held by the Company, the expected future market, price, and liquidity of ZEC or other digital assets the Company acquires, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the digital asset treasury strategy include, among others: (a) risks relating to the Company's operations and business, including the highly volatile nature of the price of ZEC; (b) the risk that material changes in the price of ZEC, such as decreases in price, will result in significant changes to the Company's financial statements, such as unrealized losses on fair value of ZEC holdings and net loss; (c) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC; (d) the risk that the Company will fail to realize the anticipated benefits of the ZEC digital asset treasury strategy or the investment in ZODL; (e) risks related to the custody of our ZEC and our reliance on Gemini Space Station and its affiliates for trading and custody services; (f) changes in business, market, financial, political and regulatory conditions; (g) risks related to increased competition in the industries in which the Company does and will operate; (h) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (i) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and (j) the ability to comply with the continued listing requirements of the Nasdaq Capital Market. With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our capital requirements and our ability to raise additional financing to support continued development; (iii) the success of other competing therapies that may become available; (iv) the manufacturing capacity for sirexatmab; and (v) our ability to maintain and protect our intellectual property rights.New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.CONTACT: Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.comFor Media:
Jacqueline Ortiz Ramsey
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.com Cypherpunk Technologies, IncConsolidated Statement of Operations
(in thousands, except share and per share amounts)
Year Ended December 31
2025
2024
Operating expenses:
Research and development
$ 25,670
$ 57,211
General and administrative
10,870
12,846
Restructuring charges
4,527
-
Total operating expenses
41,067
70,057Loss from operations
(41,067)
(70,057)Interest income
916
3,129Interest expense
(24)
-Australian research and development incentives
(157)
-Change in fair value of digital assets
50,404
-Foreign currency gain (loss)
5
(42)Income (loss) before income taxes
10,077
(66,970)Provision for income taxes
(5,255)
(585)Net income (loss)
4,822
(67,555)Dividend attributable to down round feature of warrants
-
(234)Net income (loss) attributable to common stockholders
$ 4,822
$ (67,789)
Net income (loss) per share
Basic
$ 0.07
$ (1.81)
Diluted
$ 0.07
$ (1.81)
Weighted average common shares outstanding
Basic
66,140,346
37,550,677
Diluted
70,672,358
37,550,677 Cypherpunk Technologies, IncConsolidated Balance Sheets
(in thousands, except share and per share amounts)
December 31,
2025
2024
Assets
Current assets:
Cash and cash equivalents
$ 14,035
$ 47,249
Digital assets receivable
147,404
-
Research and development incentive receivable
602
704
Prepaid expenses and other current assets
40
86
Total current assets
162,081
48,039
Right of use assets, net
38
262
Deferred costs
401
-
Deposits
662
823
Total assets
$ 163,182
$ 49,124
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$ 1,981
$ 4,743
Accrued expenses
2,067
8,536
Income tax payable
472
531
Lease liability
38
266
Total current liabilities
4,558
14,076
Non-current liabilities:
Deferred tax liability
5,118
-
Total liabilities
9,676
14,076
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized;
0 shares issued and outstanding as of December 31, 2025 and
2024, respectively
-
-
Common stock, $0.001 par value; 490,000,000 and 240,000,000 shares
authorized; 83,851,051 and 38,329,894 shares issued and outstanding
as of December 31, 2025 and 2024, respectively
84
38
Stock subscription receivable
(150)
-
Additional paid-in capital
616,216
502,501
Accumulated other comprehensive loss
(95)
(120)
Accumulated deficit
(462,549)
(467,371)
Total stockholders' equity
153,506
35,048
Total liabilities and stockholders' equity
$ 163,182
$ 49,124 Cypherpunk Technologies, IncCondensed Consolidated Statements of Cash Flows
(in thousands)
Year Ended December 31,
2025
2024
Cash used in operating activities
$ (43,902)
$ (60,299) Cash used in investing activities
(97,000)
- Cash provided by financing activities
107,649
37,184 Effect of exchange rate changes on cash and cash equivalents
39
(279) Net decrease in cash and cash equivalents
$ (33,214)
$ (23,394) Cash and cash equivalents at beginning of year
47,249
70,643 Cash and cash equivalents at end of year
$ 14,035
$ 47,249
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Original: Cypherpunk Reports Full Year 2025 Financial Results
US Market News
3月前
Cypherpunk Makes $5M Investment into Zcash Open Development Lab (ZODL)March 9, 2026 9:20 AM
PR Newswire (US)
Cypherpunk expands its holdings with new $5M investment in Zcash company, ZODL, alongside key investors including a16z, Winklevoss Capital, Coinbase, Paradigm, Chapter One, David Friedberg, Balaji Srinivasan, and othersCAMBRIDGE, Mass., March 9, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc., (Nasdaq: CYPH) today announced the company has invested $5M into Zcash Open Development Lab (ZODL) marking its first technology investment outside of ZEC. ZODL was founded and is led by former Electric Coin Company (ECC) CEO Josh Swihart.At ECC, Josh and his team, who have joined him at ZODL, launched the top Zcash wallet, Zashi, now rebranded to Zodl. Zashi was arguably the single biggest factor responsible for putting Zcash back on the map last year. In particular, its simple UX allowed for the Orchard shielded pool to grow from ~1M ZEC to ~4M ZEC during the span of 2025.ZODL, which now houses the Zashi wallet technology and related intellectual property, aims to make Zcash easier to use with continued development of the wallet, as well as supporting Zcash at the protocol level.The new investment strongly aligns with Cypherpunk's mission of advancing technologies that guarantee privacy for all humans on the internet and gives its shareholders exposure to a private company building critical privacy infrastructure on the frontier."True to their name, Cypherpunk is backing the builders who will put shielded ZEC in the hands of billions. We're grateful for their support and proud to partner with them in bringing private digital money to the global mainstream." – Josh Swihart, CEO of ZODLThe investment in ZODL is highly synergistic with Cypherpunk's ZEC treasury."As ZODL makes Zcash easier to use, we expect adoption of the protocol to grow alongside demand for ZEC." – Cameron and Tyler WinklevossSwihart joined Cypherpunk in December as a strategic advisor. Cypherpunk's current total ZEC holdings stand at 294,743.10, at an average price of $335.89, bringing the company's total network ownership to ~1.78%."ZODL and Cypherpunk are the two most important companies in privacy. We're excited to embark together on this mission of accelerating technology that defends self-sovereignty and secures human freedom." – Will McEvoy, Chief Investment Officer of CypherpunkAbout CypherpunkCypherpunk Technologies Inc. is a privacy technology company implementing a digital asset treasury strategy anchored by Zcash and, through its subsidiary Leap Therapeutics, Inc., is developing novel therapies for patients with cancer. The Company is aiming to build long-term shareholder value by acquiring ZEC, participating in the development of privacy technologies and Zcash, and continuing the development of sirexatamab and FL-501 to treat patients with cancer. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov or via https://investors.leaptx.com/.About Winklevoss CapitalWinklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to the investment in Zcash Open Development Lab ("ZODL"), ZEC, or digital assets held or to be held by the Company, the expected future market, price and liquidity of ZEC or other digital assets the Company acquires, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the digital asset treasury strategy include, among others: (a) the risk that the Company will fail to realize the anticipated benefits of the investment in ZODL and the digital asset treasury strategy; (b) changes in business, market, financial, political and regulatory conditions; (c) risks relating to the Company's operations and business, including the highly volatile nature of the price of cryptocurrencies, including ZEC; (d) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC or other digital assets that it holds; (e) risks related to increased competition in the industries in which the Company does and will operate; (f) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; and (g) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.CONTACT:Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360
ir@cypherpunk.com For Media:
Jacqueline Ortiz Ramsay
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.com For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.comLogo - https://mma.prnewswire.com/media/2928741/cypherpunk_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cypherpunk-makes-5m-investment-into-zcash-open-development-lab-zodl-302708170.html
Original: Cypherpunk Makes $5M Investment into Zcash Open Development Lab (ZODL)