(RTTNews) - Shares of Cyclerion Therapeutics Inc. (CYCN) are up in pre-market trading, following a licensing agreement with the Massachusetts Institute of Technology, securing the intellectual property for its strategic relaunch.
In the premarket, the shares are trading 39.24% higher at $4.22 on the Nasdaq.
The agreement paves the way for the transformational relaunch of Cyclerion as a neuropsychiatric company. Its lead program is expected to advance into a phase 2 proof-of-concept trial in treatment-resistant depression, also known as TRD, in 2026, with an initial data set anticipated in 2027.
Cyclerion's lead program leverages common anaesthetic agents to resynchronize communication between key brain regions and restore functional connectivity in patients with treatment-resistant depression (TRD). About 3 million Americans are estimated to live with TRD.
The company's other assets include Olinciguat, Praliciguat, Zagociguat, and CY3018.
-- Olinciguat, an orally administered vascular soluble guanylate cyclase stimulator, is in a Phase 2 clinical trial to treat cardiovascular diseases. This is wholly controlled by CVCO Therapeutics, Inc., a clinical-stage company focused on microvascular dysfunction in cardiovascular, inflammatory and metabolic diseases.
-- Praliciguat, a systemic soluble guanylate cyclase stimulator for the treatment of rare kidney disease, is licensed to Akebia Therapeutics.
-- Zagociguat and CY3018 are Central Nervous System penetrant soluble guanylate cyclase stimulators that Cyclerion developed and sold to Tisento Therapeutics, Inc., in which Cyclerion holds a 10% equity stake.
Commenting on the licensing agreement, Cyclerion noted that this significant licensing deal milestone would provide improved therapies for neuropsychiatric conditions with large unmet needs, beginning with treatment-resistant depression.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
