CYPHERPUNK TECHNOLOGIES INC.
CYPHNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $1.5M | $1.5M |
| Operating income | −$41.1M | −$70.1M | −$87.0M | −$56.8M | −$41.4M | −$28.5M |
| Net income | $4.8M | −$67.6M | −$81.4M | −$54.6M | −$40.6M | −$27.5M |
| Total assets | $163.2M | $49.1M | $72.8M | $70.4M | $117.9M | $54.4M |
| Total liabilities | $9.7M | $14.1M | $12.7M | $11.5M | $10.0M | $7.7M |
| Equity | $153.5M | $35.0M | $60.1M | $58.9M | $107.9M | $46.7M |
| EPS (diluted) | $0.07 | $-1.81 | $-3.98 | $-4.82 | $-0.47 | $-0.63 |
| Shares out. | 41.3M | 25.6M | 118.8M | 88.3M | 59.7M | 35.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- 3.1%
- Return on assets
- 3.0%
- Return on capital (ROCE)
- −25.9%
- Liabilities / assets
- 5.9%
- Debt / equity
- 0.06×
- Book value / share
- $3.72
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 12.06safe
- Accruals / assets
- 29.9%high accruals
- Piotroski F-Score
- 4/7mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 warning● 2 good- Negative operating cash flow
- High accruals — earnings-quality risk
- Conservative leverage (liabilities < 50% of assets)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Gilead Sciences, Inc.Passive (13G)Feb 12, 2026
- Winklevoss Capital Fund, LlcActivist (13D)Nov 21, 2025
- Severns Sean MichaelPassive (13G)Nov 18, 2025
- Samsara Biocapital, L.P.Passive (13G)Aug 14, 2025
- Balyasny Asset Management L.P.Passive (13G)Feb 14, 2025
- Beigene, Ltd.Activist (13D)Oct 31, 2024
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Mirabelli ChristopherDirector | Mar 26, 2026 | Sell | 60,000 | $0.71 |
| Dietz Thomas JohnDirector | Mar 13, 2026 | Option exercise | 104,500 | — |
| Mirabelli ChristopherDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Oei Khing DjienDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Li WilliamDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Richard Christian MDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Mashiach NissimDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Martin Patricia A.Director | Mar 13, 2026 | Option exercise | 74,700 | — |
| Schilsky RichardDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Loscalzo JosephDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
| Cavanaugh James HDirector | Mar 13, 2026 | Option exercise | 74,700 | — |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 6.0M | 1.1 | -32.7% |
| Apr 30, 2026 | 8.9M | 4.2 | -11.0% |
| Apr 15, 2026 | 10.0M | 3.7 | -2.1% |
| Mar 31, 2026 | 10.2M | 5.2 | -6.6% |
| Mar 13, 2026 | 11.0M | 4.9 | -4.2% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Other material eventMay 26, 2026
- Results of operationsMay 14, 2026
- Director / officer changeApr 10, 2026
- Results of operationsMar 16, 2026
- Delisting / listing-standard noticeMar 9, 2026
- Entered a material agreement · Terminated a material agreementDec 30, 2025
- Regulation FD disclosure · Other material eventDec 30, 2025
- Director / officer change · Amended charter or bylaws · Shareholder vote · Other material eventDec 16, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 8-KFORM 8-KMay 26, 2026
- 8-KFORM 8-KMay 14, 2026
- 10-QMay 14, 2026
- ARSApr 29, 2026
- DEFA14AApr 29, 2026
- DEF 14AFORM DEF 14AApr 29, 2026
- 8-KFORM 8-KApr 10, 2026
- 4OWNERSHIP DOCUMENTMar 30, 2026
- 144Mar 27, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
- 4OWNERSHIP DOCUMENTMar 17, 2026
Event-driven situations (1)
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