Peter Hecht, Cyclerion Therapeutics CEO

Hard pressed for cash, Cy­cle­ri­on looks for help fund­ing rare dis­ease drug

Cy­cle­ri­on Ther­a­peu­tics may have the de­sign of a Phase IIb study ready to go, but it’s scram­bling for a way to fund it.

The com­pa­ny said in a press re­lease that it’s “ac­tive­ly eval­u­at­ing the best com­bi­na­tion of cap­i­tal, ca­pa­bil­i­ties, and trans­ac­tions avail­able to it to ad­vance the de­vel­op­ment of zago­ciguat,” its lead can­di­date for a rare, ge­net­ic mi­to­chon­dr­i­al dis­ease known as MELAS.

In a sep­a­rate SEC fil­ing, Cy­cle­ri­on once again flagged “sub­stan­tial doubt about (its) abil­i­ty to con­tin­ue as a go­ing con­cern.” As of the end of 2022, it had cash and cash equiv­a­lents of on­ly $13.4 mil­lion.

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