Financial Performance - Net income for Q3 2025 was $5.9 million, doubling from $2.9 million in Q3 2024[20] - Quarterly revenue reached $30.6 million, a 20% increase year-over-year, driven by growth in ETUARY® and contributions from Etorel® and Contiva®[4] - Basic EPS improved to $0.04 in Q3 2025, compared to $0.01 in Q3 2024[4] - Operating income increased 64% to $6.9 million, with operating expenses growing at a slower pace than revenue[4] - Net income for the nine months ended September 30, 2025, was $11.2 million, a decrease from $17.3 million in 2024, primarily due to a $5.6 million increase in operating expenses[6] - Non-GAAP adjusted net income for the nine months ended September 30, 2025, was $14.6 million, down from $15.7 million in 2024, mainly due to a $3.3 million increase in operating expenses[6] - Non-GAAP adjusted net income for the first nine months of 2025 was $14,618 million, compared to $15,737 million in the same period of 2024, indicating a decrease of 7.1%[39] Revenue and Sales - Sales of ETUARY® for Q3 2025 were $27.7 million, compared to $25.3 million in Q3 2024[7] - Etorel® generated $1.5 million in sales during its first full quarter of launch[7] - Contiva® sales amounted to $1.2 million for Q3 2025[8] - Revenues for the nine months ended September 30, 2025, were $79.4 million, compared to $77.9 million in 2024, reflecting a $1.5 million increase[34] - Gyre Pharmaceuticals' flagship product, ETUARY®, achieved net sales of $105.8 million in 2024, maintaining a prominent market share[28] Expenses and Costs - For the nine months ended September 30, 2025, research and development expenses increased to $8.9 million from $8.3 million in 2024, primarily due to a $1.0 million rise in clinical trial costs[6] - General and administrative expenses rose to $14.1 million for the nine months ended September 30, 2025, compared to $10.6 million in 2024, driven by a $2.8 million increase in personnel and stock compensation costs[6] - Income from operations decreased to $11.4 million for the nine months ended September 30, 2025, down from $15.5 million in 2024, attributed to a $5.6 million increase in total operating expenses[6] - Stock-based compensation expenses increased to $1,147 million in Q3 2025 from $237 million in Q3 2024, reflecting a rise of 384%[39] Cash and Assets - Cash and cash equivalents totaled $80.3 million as of September 30, 2025, up 57% year-to-date[15] - Cash and cash equivalents increased significantly to $40.4 million as of September 30, 2025, from $11.8 million at the end of 2024[36] - Total assets grew to $159.4 million as of September 30, 2025, compared to $125.4 million at the end of 2024[36] Corporate Developments - The company completed patient enrollment in a 52-week Phase 3 trial for pirfenidone, involving 272 patients across 18 sites[4] - Gyre Therapeutics increased its indirect majority interest in Gyre Pharmaceuticals from 65.2% to 69.7% in Q3 2025 through additional capital contributions[28] Tax and Liabilities - Provision for income taxes for Q3 2025 was $1,693 million, up from $1,074 million in Q3 2024, marking an increase of 57.7%[39] - The loss from the change in fair value of warrant liability was $23 million in Q3 2025, a decrease from a gain of $228 million in Q3 2024[39]
Gyre Therapeutics(GYRE) - 2025 Q3 - Quarterly Results