On November 12, 2025 Cypherpunk Technologies Inc., previously known as Leap Therapeutics, Inc. (Nasdaq:LPTX), a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash, reported financial results for the third quarter of 2025 and a corporate update.

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As announced earlier today, the Company has changed its name to "Cypherpunk Technologies Inc." from "Leap Therapeutics, Inc." to reflect the strategic focus on acquiring the digital asset, ZEC, participating in the development of Zcash, and the values of privacy and liberty. The Company will begin trading on the Nasdaq Capital Market under the ticker symbol "CYPH" at the market open on November 13, 2025. The Company’s ongoing cancer research and development operations will be conducted under a wholly-owned subsidiary that will take the name "Leap Therapeutics, Inc."

"This past month has been transformative for the Company, marked by closing a $58.88 million private placement led by Winklevoss Capital and successfully deploying $50 million to build a digital asset treasury designed to create long-term shareholder value focused on active participation in the development of Zcash and acquiring ZEC," said Douglas E. Onsi, President and CEO of Cypherpunk Technologies. "In our drug development business, we presented the final data from our randomized controlled Phase 2 trial of sirexatamab plus bevacizumab and chemotherapy in patients with advanced colorectal cancer (CRC) at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress. In addition, we will be engaging with regulatory authorities to seek a registrational pathway for sirexatamab and optimizing the DKK1 biomarker assay that could be used to identify CRC patients at risk of poor outcomes and who may benefit from sirexatamab."

Cypherpunk Highlights:

Closed a $58.88 million private placement in cash led by Winklevoss Capital
In October 2025, the Company raised $58,888,888 in cash led by Winklevoss Capital to initiate the digital asset treasury strategy. In the transaction, the Company issued: (i) 15,212,311 shares of common stock, (ii) pre-funded warrants to purchase up to an aggregate of 80,768,504 shares of common stock at an exercise price of $0.001 per share, and (ii) warrants to purchase an additional 71,985,605 shares of common stock at an exercise price of $0.5335 per share.

Successfully established a digital asset treasury strategy focused on Zcash (ZEC), acquiring more than 203,775.27 ZEC to date at an aggregate purchase price of approximately $50 million, or $245.37 per ZEC
The Company believes that privacy-protecting assets and related technologies will be critical in an increasingly digital world. The Company intends to acquire and hold ZEC, the native coin of Zcash, as its primary digital asset and to be an active participant in the Zcash community. As of November 11, 2025, the Company has acquired 203,775.27 ZEC at an aggregate purchase price of approximately $50 million, or $245.37 per ZEC.

Zcash functions much like Bitcoin, and it was created from the original Bitcoin code base. Like Bitcoin, Zcash is a digital currency that can be transmitted over a peer-to-peer payment system, except that Zcash uses a protocol called "zero-knowledge proofs" that allows users to engage in blockchain transactions while maintaining greater privacy. This cryptographic technology allows parties to decide whether or not to reveal sensitive information and enables private, public, shielding, and deshielding transactions on the Zcash blockchain. For example, the owner of a specific address is able to choose to disclose an address and transaction details to a trusted third party, potentially for compliance or audit reasons. Alternatively, transacting can work in a similar manner to the Bitcoin blockchain, where the sender and receiver addresses and value of the transfer are all publicly visible.

Appointed digital asset executives Khing Oei as Chairman of the Board of Directors and Will McEvoy as a member of the Board of Directors and Chief Investment Officer
On November 11, 2025, the Company appointed Khing Oei as Chairman of the Board of Directors, and Will McEvoy as Chief Investment Officer and a Board member. In conjunction with these appointments, Christopher Mirabelli stepped down from his role as Chairman of the Board of Directors, while remaining a Board member.

Leap Therapeutics Highlights:

Presented final clinical data from Part B of the DeFianCe study of sirexatamab plus bevacizumab and chemotherapy in CRC patients at ESMO (Free ESMO Whitepaper) Congress 2025.
In a Mini Oral session at the ESMO (Free ESMO Whitepaper) Congress in October 2025, the Company presented the final results from Part B of the DeFianCe study, a Phase 2 study of sirexatamab, an anti-DKK1 monoclonal antibody, in combination with bevacizumab and chemotherapy (Sirexatamab Arm) compared to bevacizumab and chemotherapy (Control Arm) in patients with microsatellite stable CRC who have received one prior systemic therapy for advanced disease. Sirexatamab demonstrated a statistically significant benefit on overall response rate (ORR) and progression-free survival (PFS) in patients with high levels of DKK1, along with a positive trend on ORR and PFS in the full intent-to-treat population.

Across the DKK1-high (upper median) patients (n=88):
ORR was 38.0% in the Sirexatamab Arm compared to 23.7% ORR in the Control Arm.
mPFS was 9.03 months in the Sirexatamab Arm compared to 7.06 months in the Control Arm, Hazard Ratio (HR) 0.61, p-value = 0.0255.
mOS was not reached in the Sirexatamab Arm compared to 14.39 months in the Control Arm, HR 0.42, p-value = 0.0118.
Across the DKK1-high (upper quartile) patients (n=44):
ORR was 44.0% in the Sirexatamab Arm compared to 15.8% ORR in the Control Arm.
mPFS was 9.36 months in the Sirexatamab Arm compared to 5.88 months in the Control Arm, HR 0.46, p-value = 0.0168.
mOS was not reached in the Sirexatamab Arm compared to 9.66 months in the Control Arm, HR 0.17, p-value < 0.001.
In the full intent-to-treat population (n=188):
ORR was 35.1% in the Sirexatamab Arm compared to 26.6% ORR in the Control Arm.
mPFS was 9.2 months in the Sirexatamab Arm compared to 8.3 months in the Control Arm, HR 0.84, p-value = 0.1712.
Event-free rate favors Sirexatamab Arm beginning at month 9 (53 vs 47%) with further separation at month 12 (34 vs 23%).
Advancing DKK1 biomarker diagnostic test and engaging with regulatory authorities.
The Company is in the process of engaging with regulatory agencies in the United States and Europe to discuss the registrational pathway for sirexatamab in CRC. The Company is also working with a leading diagnostics research laboratory to optimize the DKK1 biomarker diagnostic test that could be used to identify CRC patients with poor prognosis and to select patients for treatment with sirexatamab. The Company expects to provide an update on the next steps in sirexatamab development and on the registrational pathway in the first quarter of 2026.

Selected Third Quarter 2025 Financial Results

Net Loss was $3.3 million for the third quarter 2025, compared to $18.2 million for the third quarter 2024. The decrease was primarily due to a decrease in research and development and general and administrative expenses as a result of a reduction in force and the completion of the clinical trials.

Research and development expenses were $1.2 million for the three months ended September 30, 2025, compared to $14.9 million for the three months ended September 30, 2024. The decrease of $13.7 million in research and development expenses during the three months ended September 30, 2025 was primarily due to a decrease of $5.3 million in clinical trial costs and a decrease of $3.7 million in manufacturing costs. There was also a decrease of $3.3 million in payroll and other related expenses due to a decrease in headcount of our R&D full-time employees, a decrease of $0.7 million in stock based compensation expense, and a decrease of $0.7 million in consulting fees.

General and administrative expenses were $1.9 million for the three months ended September 30, 2025, compared to $2.9 million for the three months ended September 30, 2024. The decrease of $1.0 million in general and administrative expenses during the three months ended September 30, 2025 was due to a $0.5 million decrease in payroll and other related expenses due to a decrease in incentive based compensation expense for our general and administrative employees and a decrease in headcount of our general and administrative employees. There was also a decrease of $0.3 million in stock based compensation expense and a $0.2 million decrease in professional fees.

Cash and cash equivalents totaled $9.7 million on September 30, 2025, prior to the completion of the $58.88 million private placement that closed in October 2025.

(Press release, Leap Therapeutics, NOV 12, 2025, View Source [SID1234659852])

On November 12, 2025 AtomVie Global Radiopharma (AtomVie), a leading radiopharmaceutical CDMO, reported that it has successfully supplied the first dose of Ariceum Therapeutics’ (Ariceum) 225Ac-SSO110, a potentially first- and best-in-class Actinium-225-labelled antagonist of the somatostatin type 2 receptor (SSTR2), being evaluated in Ariceum’s Phase 1/2 clinical trial (SANTANA-225) for the treatment of extensive-stage small cell lung cancer (SCLC) and Merkel Cell Carcinoma (MCC).

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With this partnership, AtomVie is leveraging its state-of-the-art cGMP facilities and deep technical expertise to enable the robust and reliable manufacturing of 225Ac-SSO110. This collaboration secures a consistent supply and uncompromising quality of 225Ac-SSO110 to support the SANTANA-225 study.

"We are honored to partner with Ariceum to deliver the critical supply of 225Ac-SSO110 for the SANTANA-225 clinical trial. Our mission of transforming patients’ lives with high quality radiopharmaceuticals drives every step of our work, and we are proud to contribute to bringing promising therapies in oncology closer to patients." said Bruno Paquin, CEO of AtomVie.

"Dosing the first patient in our SANTANA-225 clinical trial marks a significant milestone for Ariceum," said Manuel Sturzbecher-Höhne, Chief Technology Officer of Ariceum Therapeutics. "We are proud to partner with AtomVie on the manufacturing of 225Ac-SSO110. Their proven GMP expertise and unwavering commitment to quality give us confidence as we advance 225Ac-SSO110 through clinical development, and deliver on our mission to bring transformative therapies to patients facing these aggressive and underserved cancers."

(Press release, Ariceum Therapeutics, NOV 12, 2025, View Source [SID1234659851])

On November 12, 2025 Pillar Biosciences, Inc., the leader in Decision Medicine, reported the launch of oncoReveal Lymphoid, a research-use-only (RUO) next-generation sequencing (NGS) kit designed to enable laboratories to perform rapid tumor profiling of lymphoid malignancies.

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The oncoReveal Lymphoid panel interrogates 84 genes of interest, including full coding DNA sequence (CDS) of 29 genes with a single-tube, fully automatable NGS workflow that can be performed by any NGS-equipped molecular laboratory.

"We are excited to launch oncoReveal Lymphoid, specifically designed to meet the needs of local laboratories looking for rapid and efficient NGS-based testing solutions to help interrogate lymphomas," said ShiPing Zou, Sr. Director of Product Management at Pillar Biosciences. "oncoReveal Lymphoid is compatible with our current heme-oncology offerings including oncoReveal Myeloid and oncoReveal Heme Fusion. "Together, this suite of products provides full coverage of heme oncology tumor profiling needs for molecular pathology labs."

Pillar’s oncoReveal Lymphoid panel uses their proprietary Stem-Loop Inhibition-Mediated amplification (SLIMamp) technology, a tiled amplicon-based library prep chemistry designed to provide highly accurate genetic profiles down to 2% variant allele frequency (VAF). oncoReveal Lymphoid is powered by PiVAT, an automated secondary bioinformatics software that supports the identification of somatic mutations from DNA with high sensitivity and specificity. Pillar Biosciences’ proprietary PiVAT technology is fully compatible with third-party clinical reporting solutions.

(Press release, Pillar Biosciences, NOV 12, 2025, View Source [SID1234659850])

On November 12, 2025 GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, reported business and financial results for the third quarter of 2025.

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Total revenue in the third quarter grew 26% year-over-year to $36.2 million, and Galleri revenue grew 29% year-over-year to $32.8 million. U.S. Galleri revenue was $32.6 million, representing 28% growth year-over-year. Net loss for the quarter was $89.0 million. Gross loss was $13.7 million. Non-GAAP adjusted gross profit was $20.0 million, and non-GAAP adjusted EBITDA was $(71.7) million.1

"We remain very pleased by Galleri’s commercial uptake with 39% growth in Galleri test volume in the third quarter. Our teams continue to build awareness of Galleri among providers and patients, and recent data from our registrational PATHFINDER 2 study adds to the evidence base," said Bob Ragusa, Chief Executive Officer at GRAIL. "We have also made key recent strides in opportunities beyond the U.S., led by our strategic collaboration with Samsung to bring Galleri to key Asian markets, as well as Galleri’s commercial introduction in Canada. Looking ahead, we anticipate completing our PMA submission for Galleri to the FDA in the first quarter of 2026."

For the three months ended September 30, 2025, as compared to the three months ended September 30, 2024, GRAIL reported:

Revenue: Total revenue, comprised of screening and development services revenue, was $36.2 million, an increase of $7.5 million or 26%.
Net loss: Net loss was $89.0 million, an improvement of $36.7 million or 29%.
Gross loss: Gross loss was $13.7 million, an improvement of $8.5 million or 38%.
Adjusted gross profit1: Adjusted gross profit was $20.0 million, an increase of $8.2 million or 69%.
Adjusted EBITDA1: Adjusted EBITDA was $(71.7) million, an improvement of $36.5 million or 34%.
Cash position: Cash, cash equivalents, restricted cash and short-term marketable securities totaled $547.1 million as of September 30, 2025.
Recent business highlights include:

Positive results from PATHFINDER 2 and SYMPLIFY studies add to the evidence base for the effectiveness of multi-cancer early detection.
Positive detailed performance and safety results from the pre-specified analysis of the first approximately 25,000 participants in the registrational PATHFINDER 2 study were presented at the European Society of Medical Oncology (ESMO) (Free ESMO Whitepaper) ("ESMO") Congress 2025 in October:
Adding Galleri to recommended screenings for breast, cervical, colorectal, and lung cancers (USPSTF A and B recommendations) led to a more than seven-fold increase in the number of cancers found within a year
Galleri detected approximately three times as many cancers when added to standard-of-care screening for breast, cervical, colorectal, lung, and prostate cancers (USPSTF A, B, and C recommendations)
Approximately three-quarters of the cancers detected by Galleri do not have standard of care screening options
More than half of the new cancers detected by Galleri were stage 1 or 2 and more than two-thirds were detected at stages 1-3
Galleri positive predictive value ("PPV"), or the likelihood of receiving a cancer diagnosis following a positive test result, was 61.6%
Specificity was 99.6%, translating to a false positive rate of 0.4%
Cancer signal of origin accuracy was 92%, leading to efficient diagnostic workups
Diagnostic resolution took a median of 46 days, and only 0.6% of all participants had an invasive procedure and invasive procedures were two times more common in participants with cancer than in those without
No serious, study-related adverse events were reported
Positive long-term results from an extended registry follow-up of the SYMPLIFY study with the University of Oxford were presented at the Early Detection of Cancer Conference ("EDCC") in October. A previous primary analysis, published in The Lancet Oncology, followed participants until diagnostic resolution or up to nine months and demonstrated Galleri’s PPV was 75.5%. Patients reported to have a false positive Galleri result were followed for 24 months in national cancer registries for England and Wales.
The updated analysis presented at EDCC showed that approximately one-third of participants initially believed to have a false positive result were later diagnosed with cancer during the subsequent follow up period
This reduction in false positives resulted in an increase of Galleri’s PPV in this symptomatic population to 84.2%
Announced a collaboration with Medcan, a global leader in proactive health and wellness services, to provide access to the Galleri test at Medcan’s clinics. Additionally, Manulife Canada announced it now offers access to Galleri, in partnership with Medcan, to eligible life insurance customers through its innovative Manulife Vitality program.
Announced a strategic collaboration with Samsung in October to bring the Galleri test to key Asian markets. Subject to execution of definitive agreements, the parties will work as exclusive partners to commercialize Galleri in Korea, and possibly other key Asian markets, including Japan and Singapore. In addition, the parties intend to explore potential additional strategic and operational collaborations. Samsung has also agreed to make an equity investment of $110 million in GRAIL, subject to closing conditions.
Completed a private placement of equity in October resulting in gross proceeds of approximately $325 million, before deducting placement agents’ fees and other expenses. Including proceeds from this transaction, GRAIL’s cash position of more than $850 million provides runway into 2030.

(Press release, Grail, NOV 12, 2025, View Source [SID1234659849])

On November 12, 2025 Tyra Biosciences, Inc. (Nasdaq: TYRA), a clinical-stage biotechnology company focused on developing next-generation precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology, reported that members of company management will participate in the following investor events:

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Jefferies London Healthcare Conference
Format: Hybrid presentation (slides & moderated Q&A) and one-on-one investor meetings
Presentation Date/Time: Wednesday, November 19, 2025, at 4:00 PM GMT
Location: London, UK

37th Annual Piper Healthcare Conference
Format: One-on-one investor meetings
Date: December 2-4, 2025
Location: New York, NY

A live webcast of the Jefferies event can be accessed by visiting the "For Investors" page on the Tyra Biosciences website and will be available for replay following the event.

(Press release, Tyra Biosciences, NOV 12, 2025, View Source [SID1234659848])