GYRE

MKT CAP:$682M

Gyre Therapeutics, Inc.

Market Cap

$682M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$7.94+$1.13 (+16.59%)

Apr 20, 2026

Company Details

Gyre Therapeutics, Inc., a pharmaceutical company, engages in the development and commercialization of small-molecule, anti-inflammatory, and anti-fibrotic drugs targeting organ fibrosis. It offers ETUARY (Pirfenidone), an anti-fibrotic dru...

CEO

Ping Zhang

IPO Date

Apr 12, 2006

Website

www.gyretx.com

Key Metrics TTM

Revenue

$103M

+1650.8% YoY

Net Income

-$94M

EPS (Diluted)

-$0.52

Free Cash Flow

$4M

Revenue / Share

$1.00

Gross Margin

96.0%

Operating Margin

-75.4%

Net Margin

-91.6%

FCF Margin

3.5%

P/S

6.6x

P/E

—

Earnings Reports

Q4 2024

May 8, 2026

PENDING

Q3 2024

Nov 13, 2024

$25MEPS $0.05

Q2 2024

Aug 13, 2024

$25MEPS $0.03

Q4 2023

Feb 14, 2024

$27MEPS -$0.68

Q1 2023

May 15, 2023

$25MEPS $0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 19	$0	-$11M	-$14M
Q3 19	$0	-$10M	-$13M
Q4 19	$0	-$34.0K	-$14M
Q1 20	$16M	$12M	-$5M
Q2 20	$2M	-$84.0K	-$17M
Q3 20	$893.0K	-$18.0K	-$16M
Q4 20	$2M	-$45.0K	-$19M
Q1 21	$1M	-$13.0K	-$22M
Q2 21	$1M	-$52.0K	-$20M
Q3 21	$2M	-$93.0K	-$25M
Q4 21	$2M	-$14.0K	-$20M
Q2 22	$0	-$67.0K	-$6M
Q1 23	$25M	$24M	$7M
Q4 23	$27M	$26M	-$92M
Q2 24	$25M	$24M	$3M
Q3 24	$25M	$25M	$4M

Valuation

Quarter	P/S	P/E
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q1 20	60.1x	—
Q2 20	88.6x	—
Q3 20	76.7x	—
Q4 20	98.4x	—
Q1 21	347.7x	—
Q2 21	389.0x	—
Q3 21	314.5x	—
Q4 21	128.6x	—
Q2 22	255.7x	—
Q1 23	7.4x	26.5x
Q4 23	33.6x	—
Q2 24	13.3x	—
Q3 24	10.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 19	-$11M	-$12M
Q3 19	-$9M	-$9M
Q4 19	-$8M	-$8M
Q1 20	-$5M	-$5M
Q2 20	-$15M	-$15M
Q3 20	-$13M	-$13M
Q4 20	-$22M	-$22M
Q1 21	-$24M	-$24M
Q2 21	-$20M	-$20M
Q3 21	-$22M	-$22M
Q4 21	-$18M	-$18M
Q2 22	-$12M	-$15M
Q1 23	$10M	$9M
Q4 23	$3M	$1M
Q2 24	-$6M	-$7M
Q3 24	$2M	$983.0K

Capital Expenditures

Quarter	CapEx
Q2 19	$49.0K
Q3 19	$1.0K
Q4 19	$1.0K
Q1 20	$17.0K
Q2 20	$16.0K
Q3 20	$195.0K
Q4 20	$39.0K
Q1 21	$0
Q2 21	$347.0K
Q3 21	$492.0K
Q4 21	$0
Q2 22	$3M
Q1 23	$2M
Q4 23	$2M
Q2 24	$1M
Q3 24	$693.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 19	—	+102.2%
Q3 19	—	+58.1%
Q4 19	+100.0%	+19.8%
Q1 20	—	+36.4%
Q2 20	—	+32.3%
Q3 20	—	+28.8%
Q4 20	—	+49.2%
Q1 21	-91.0%	+11.5%
Q2 21	-31.7%	+10.7%
Q3 21	+157.4%	+62.0%
Q4 21	+20.1%	+9.0%
Q2 22	-100.0%	-76.1%
Q1 23	+2102.4%	-13.2%
Q4 23	+1080.9%	+331.5%
Q2 24	+933.8%	-3.5%
Q3 24	—	+271.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 19	$903.0K	—
Q3 19	$801.0K	—
Q4 19	$671.0K	—
Q1 20	$805.0K	4.9%
Q2 20	$834.0K	50.3%
Q3 20	$1M	119.6%
Q4 20	$0	0.0%
Q1 21	$1M	69.9%
Q2 21	$983.0K	86.8%
Q3 21	$713.0K	31.0%
Q4 21	$683.0K	28.0%
Q2 22	$0	—
Q1 23	$0	0.0%
Q4 23	$7M	26.8%
Q2 24	$0	0.0%
Q3 24	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 19	$11M	$3M	—	—
Q3 19	$10M	$3M	—	—
Q4 19	$11M	—	—	$3M
Q1 20	$13M	$4M	—	—
Q2 20	$13M	$4M	—	—
Q3 20	$12M	$4M	—	—
Q4 20	$15M	—	—	$4M
Q1 21	$17M	$5M	—	—
Q2 21	$15M	—	—	$5M
Q3 21	$20M	—	—	$5M
Q4 21	$16M	$4M	—	—
Q2 22	$2M	—	—	$4M
Q1 23	$3M	$2M	$13M	—
Q4 23	$5M	$10M	$16M	—
Q2 24	$3M	$3M	$14M	—
Q3 24	$3M	$4M	$14M	—

Revenue Segments

Quarter	Collaboration Revenue	Product
Q2 22	$794.0K	—
Q2 24	—	$25M
Q3 24	—	$26M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$35M	$0	$35M
Q2 22	$75M	$0	$75M
Q3 22	$23M	$0	$23M
Q4 22	$25M	$0	$25M
Q1 23	$26M	$607.4K	$27M
Q2 23	$22M	$258.5K	$22M
Q3 23	$2M	$0	$2M
Q4 23	$34M	$0	$34M
Q1 24	$30M	$8M	$37M
Q2 24	$16M	$9M	$25M
Q3 24	$16M	$9M	$25M
Q4 24	$12M	$15M	$27M
Q1 25	$15M	$15M	$30M
Q2 25	$36M	$18M	$54M
Q3 25	$40M	$0	$40M
Q4 25	$37M	$15M	$52M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 19	12M	+0.2%	+0.4%
Q3 19	12M	+0.3%	+0.7%
Q4 19	12M	+0.2%	+0.7%
Q1 20	15M	+21.2%	+22.0%
Q2 20	18M	+22.6%	+49.2%
Q3 20	22M	+23.4%	+83.6%
Q4 20	22M	+0.2%	+83.7%
Q1 21	28M	+28.3%	+94.5%
Q2 21	31M	+10.4%	+75.2%
Q3 21	31M	+0.1%	+42.2%
Q4 21	31M	+0.1%	+42.0%
Q2 22	63M	+100.3%	+121.7%
Q1 23	70M	+11.4%	+123.6%
Q4 23	77M	+9.3%	+144.1%
Q2 24	104M	+36.2%	+232.1%
Q3 24	103M	-1.6%	+63.1%

Shares Outstanding