A Business at a Glance
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CYPHERPUNK TECHNOLOGIES INC.
CYPH
$2M
Mkt Cap
$0.62
-5.98%
CYPHERPUNK TECHNOLOGIES INC. (CYPH) has a 5-year average return on invested capital (ROIC) of -70.3%. This is below average and may indicate limited pricing power.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) has a market capitalization of $56M. It is classified as a small-cap stock.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) does not currently pay a regular dividend.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) generated $-49 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) reported earnings per share (EPS) of $-48.20 in its most recent fiscal year.
Corporate Information We were incorporated in the state of Delaware on January 3, 2011. Our wholly owned subsidiaries as of December 31, 2025 include HealthCare Pharmaceuticals Pty Ltd. (“HCP Australia”), Leap Securities Corp., Flame Biosciences LLC, and Leap Therapeutics, Inc. (“Leap”). Prior to October 2025, we devoted substantially all of our resources to development efforts related to biomarker-targeted antibody therapies designed to treat patients with cancer. Our clinical stage program is sirexatamab (DKN-01), a monoclonal antibody that inhibits Dickkopf-related protein 1, or DKK1, for the treatment of colorectal cancer patients. We also have a preclinical antibody program, FL-501, that is designed to treat cachexia-related indications. In October 2025, we announced a $58.88 million private placement, led by Winklevoss Capital, and the intent to initiate a digital asset treasury strategy.
| Metric | TTM | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Revenue | 0 | - | - | - |
| Net Income | 4.8M | -55M | -41M | -38M |
| EPS | $0.07 | $-48.20 | $-4.70 | $-6.30 |
| Free Cash Flow | 0 | -49M | -35M | -26M |
| ROIC | -25.9% | -92.7% | -37.6% | -80.6% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.00 | 0.01 | 0.00 | 0.01 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -41M | -57M | -41M | -29M |
| Operating Margin | 0.0% | - | - | - |
| ROE | 3.1% | -92.7% | -37.6% | -80.6% |
| Shares Outstanding | 90M | 3M | 9M | 6M |
| Metric | ||||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | 20M | 32M | 45M | 26M |
| SG&A | 9.6M | 11M | 12M | 11M |
| EBIT | -29M | -41M | -57M | -41M |
| Op. Margin | N/A | N/A | N/A | 0.0% |
| Net Income | -38M | -41M | -55M | 4.8M |
| Net Margin | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 4.5M |
| Returns on Capital | ||||
| ROIC | -80.6% | -37.6% | -92.7% | -25.9% |
| ROE | -80.6% | -37.6% | -92.7% | 3.1% |
| ROA | -69.1% | -34.4% | -77.6% | 3.0% |
| Cash Flow | ||||
| Op. Cash Flow | -26M | -35M | -49M | -44M |
| Free Cash Flow | -26M | -35M | -49M | 0 |
| Owner Earnings | -29M | -39M | -54M | -49M |
| CapEx | 100K | 0 | 0 | 0 |
| Maint. CapEx | 34K | 29K | 16K | 16K |
| Growth CapEx | 66K | N/A | N/A | 0 |
| D&A | 34K | 29K | 16K | 16K |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 2.6M | 3.7M | 5.2M | 4.9M |
| Debt Repayment | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | -104M | -229M | -130M | -28M |
| Cash & Equiv. | 52M | 115M | 66M | 28M |
| Long-Term Debt | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.01 | 0.00 | 0.01 | 0.00 |
| Interest Coverage | -731.8 | -1010.4 | -1051.2 | -1051.2 |
| Equity | 47M | 108M | 59M | 154M |
| Total Assets | 54M | 118M | 70M | 163M |
| Total Liabilities | 7.7M | 10M | 11M | 9.7M |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | -223M | -264M | -318M | -463M |
| Working Capital | 45M | 107M | 57M | 158M |
| Current Assets | 52M | 117M | 68M | 162M |
| Current Liabilities | 7.4M | 10.0M | 11M | 4.6M |
| Per Share Data | ||||
| EPS | -6.30 | -4.70 | -48.20 | 0.07 |
| Owner EPS | -4.79 | -4.50 | -21.19 | -0.54 |
| Book Value | 7.82 | 12.49 | 22.99 | 1.71 |
| Cash Flow/Share | -4.35 | -4.07 | -19.16 | 0.05 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 6.0M | 8.6M | 2.6M | 90.0M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | 8.9 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | 2.8 | 2.4 | N/A | 0.4 |
| Price/Sales | N/A | N/A | N/A | N/A |
| FCF Yield | -19.8% | -13.6% | N/A | N/A |
| Market Cap | 132M | 259M | 0 | 56M |
| Avg. Price | 19.69 | 21.69 | 0.00 | 0.62 |
| Year-End Price | 22.10 | 30.00 | 0.00 | 0.62 |
CYPHERPUNK TECHNOLOGIES INC. passes 0 of 9 quality checks, indicating weak fundamentals.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) has a return on equity (ROE) of -92.7%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for CYPHERPUNK TECHNOLOGIES INC. (CYPH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CYPHERPUNK TECHNOLOGIES INC. (CYPH) has a book value per share of $22.99, based on its most recent annual SEC filing.