Gyre Therapeutics (GYRE)


Market Price (11/3/2026): $4.54 | Market Cap: $481.4 MilSector: Health Care | Industry: Biotechnology

Gyre Therapeutics (GYRE)


Market Price (11/3/2026): $4.54
Market Cap: $481.4 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.

Weak multi-year price returns
2Y Excs Rtn is -97%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -2.1%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.0%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.8%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 16.3

Key risks
GYRE key risks include [1] its heavy dependence on ETUARY sales in China and significant customer concentration with a single distributor, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.
2 Weak multi-year price returns
2Y Excs Rtn is -97%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -11%
4 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -2.1%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.0%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.8%
7 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 16.3
8 Key risks
GYRE key risks include [1] its heavy dependence on ETUARY sales in China and significant customer concentration with a single distributor, Show more.

GYRE in ETFs

Weight = GYRE's share of each fund

VTI0.00%
IWM0.00%
SCHA0.00%
VTWO0.00%
IWO0.00%
IWN0.00%
SCHB0.00%
DFAS0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Gyre Therapeutics (GYRE) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Wider-than-expected Net Loss in Fiscal Q2 2026.

Gyre Therapeutics reported a net loss of $14.3 million for fiscal Q2 2026 (ended June 30, 2026), a significant increase from the $2.2 million net loss in the comparable period of 2025. This loss missed analysts' consensus earnings per share (EPS) estimates by $0.06, reporting -$0.12 EPS versus an expected -$0.06 EPS. The increased net loss was primarily driven by a 129% surge in research and development expenses and transaction costs associated with the Cullgen acquisition.

2. Increased R&D Spending Amidst Delayed Profitability.

The company's research and development expenses substantially increased by 129%, reaching $19.1 million in fiscal Q2 2026, up from $8.4 million in Q2 2025. This was largely due to higher external clinical research expenses for the F351 Phase 3C experimental review and a milestone payment. Despite a promising pipeline, including the New Drug Application (NDA) acceptance for F351 in China in May 2026, continued heavy investment in clinical trials and product development, coupled with negative revenue growth, indicated that profitability remains a distant goal, negatively impacting investor sentiment.

Show more
Updated on 11/1/2026

Gyre Therapeutics (GYRE) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Wider-than-expected Net Loss in Fiscal Q2 2026.

Gyre Therapeutics reported a net loss of $14.3 million for fiscal Q2 2026 (ended June 30, 2026), a significant increase from the $2.2 million net loss in the comparable period of 2025. This loss missed analysts' consensus earnings per share (EPS) estimates by $0.06, reporting -$0.12 EPS versus an expected -$0.06 EPS. The increased net loss was primarily driven by a 129% surge in research and development expenses and transaction costs associated with the Cullgen acquisition.

2. Increased R&D Spending Amidst Delayed Profitability.

The company's research and development expenses substantially increased by 129%, reaching $19.1 million in fiscal Q2 2026, up from $8.4 million in Q2 2025. This was largely due to higher external clinical research expenses for the F351 Phase 3C experimental review and a milestone payment. Despite a promising pipeline, including the New Drug Application (NDA) acceptance for F351 in China in May 2026, continued heavy investment in clinical trials and product development, coupled with negative revenue growth, indicated that profitability remains a distant goal, negatively impacting investor sentiment.

3. Analyst Downgrades and Cautious Sentiment.

Investor sentiment weakened due to several negative or cautious analyst ratings during the period. Weiss Ratings reissued a "sell (d-)" rating on August 7, 2026, and Wall Street Zen downgraded shares from a "hold" to a "sell" rating on October 17, 2026. The consensus analyst rating for Gyre Therapeutics is "Reduce", with the stock trading below its 50-day and 200-day simple moving averages, signaling a bearish trend.

4. Loss of Collaboration Revenue.

The termination of the Astellas Agreement in March 2026 resulted in a $9.6 million decrease in collaboration revenue for fiscal Q2 2026. This reduction in revenue contributed to the overall decline in the company's financial performance during the specified period.

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Stock Movement Drivers

Fundamental Drivers

The -17.7% change in GYRE stock from 7/31/2026 to 11/2/2026 was primarily driven by a -9.3% change in the company's Shares Outstanding (Mil).
(LTM values as of)731202611022026Change
Stock Price ($)5.754.73-17.7%
Change Contribution By: 
Total Revenues ($ Mil)120119-0.5%
P/S Multiple4.44.0-8.9%
Shares Outstanding (Mil)91101-9.3%
Cumulative Contribution-17.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/2/2026
ReturnCorrelation
GYRE-17.7% 
Market (SPY)0.7%44.2%
Sector (XLV)13.6%-4.2%

Fundamental Drivers

The -38.4% change in GYRE stock from 4/30/2026 to 11/2/2026 was primarily driven by a -32.0% change in the company's P/S Multiple.
(LTM values as of)430202611022026Change
Stock Price ($)7.684.73-38.4%
Change Contribution By: 
Total Revenues ($ Mil)120119-0.1%
P/S Multiple5.94.0-32.0%
Shares Outstanding (Mil)91101-9.3%
Cumulative Contribution-38.4%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/2/2026
ReturnCorrelation
GYRE-38.4% 
Market (SPY)4.9%30.4%
Sector (XLV)27.0%9.8%

Fundamental Drivers

The -39.0% change in GYRE stock from 10/31/2025 to 11/2/2026 was primarily driven by a -39.3% change in the company's P/S Multiple.
(LTM values as of)1031202511022026Change
Stock Price ($)7.754.73-39.0%
Change Contribution By: 
Total Revenues ($ Mil)10511913.5%
P/S Multiple6.64.0-39.3%
Shares Outstanding (Mil)89101-11.4%
Cumulative Contribution-39.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/2/2026
ReturnCorrelation
GYRE-39.0% 
Market (SPY)11.2%34.9%
Sector (XLV)29.6%12.6%

Fundamental Drivers

The -29.7% change in GYRE stock from 10/31/2023 to 11/2/2026 was primarily driven by a -23.9% change in the company's Shares Outstanding (Mil).
(LTM values as of)1031202311022026Change
Stock Price ($)6.734.73-29.7%
Change Contribution By: 
Total Revenues ($ Mil)�1190.0%
P/S Multiple�4.00.0%
Shares Outstanding (Mil)77101-23.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/2/2026
ReturnCorrelation
GYRE-29.7% 
Market (SPY)86.0%24.2%
Sector (XLV)55.2%13.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GYRE Return-86%120%4770%-53%-42%-33%185%
Peers Return-7%32%41%-1%13%7%106%
S&P 500 Return27%-19%24%23%16%10%101%

Monthly Win Rates [3]
GYRE Win Rate25%58%75%33%33%64% 
Peers Win Rate42%67%58%50%83%41% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
GYRE Max Drawdown-87%-64%-71%-64%-50%-48% 
Peers Max Drawdown-27%-19%-12%-23%-29%-15% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ASPE, ATYR, BBTX, CTY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)

How Low Can It Go

EventGYRES&P 500
2024 Yen Carry Trade Unwind
  % Loss-18.5%-7.8%
  % Gain to Breakeven22.7%8.5%
  Time to Breakeven16 days18 days
2023 SVB Regional Banking Crisis
  % Loss-27.5%-6.7%
  % Gain to Breakeven37.9%7.1%
  Time to Breakeven92 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-64.0%-24.5%
  % Gain to Breakeven177.6%32.4%
  Time to Breakeven10 days427 days
2020 COVID-19 Crash
  % Loss-46.3%-33.7%
  % Gain to Breakeven86.3%50.9%
  Time to Breakeven54 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-40.4%-19.2%
  % Gain to Breakeven67.7%23.8%
  Time to Breakeven1772 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-79.7%-3.7%
  % Gain to Breakeven393.3%3.9%
  Time to Breakeven245 days6 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Gyre Therapeutics's stock fell -18.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 22.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventGYRES&P 500
2023 SVB Regional Banking Crisis
  % Loss-27.5%-6.7%
  % Gain to Breakeven37.9%7.1%
  Time to Breakeven92 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-64.0%-24.5%
  % Gain to Breakeven177.6%32.4%
  Time to Breakeven10 days427 days
2020 COVID-19 Crash
  % Loss-46.3%-33.7%
  % Gain to Breakeven86.3%50.9%
  Time to Breakeven54 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-40.4%-19.2%
  % Gain to Breakeven67.7%23.8%
  Time to Breakeven1772 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-79.7%-3.7%
  % Gain to Breakeven393.3%3.9%
  Time to Breakeven245 days6 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Gyre Therapeutics's stock fell -18.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 22.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Gyre Therapeutics (GYRE)

Gyre Therapeutics (GYRE) is a biopharmaceutical company based in San Diego, CA, primarily engaged in the development and commercialization of therapeutic drugs for various chronic diseases. Its flagship product is Hydronidone (F351), which is being developed for the treatment of liver fibrosis, with a particular focus on Metabolic Dysfunction Associated Steatohepatitis (MASH-associated liver fibrosis) in the United States. This core program is supported by positive Phase 2 clinical study results in China for Hepatitis-B induced liver fibrosis, which also earned a breakthrough therapy designation from China's NMPA, and is currently in a registration Phase 3 trial there.

In the United States, Hydronidone is currently under an Investigational New Drug (IND) application, advancing through a Phase 1 clinical trial to evaluate its safety and pharmacokinetics in healthy subjects, with the ultimate goal of addressing MASH fibrosis. The company aims to serve patients suffering from chronic liver diseases, leveraging the robust data generated from both its nonclinical program and the clinical success observed in China to progress its therapeutic candidates in a significant and unmet medical need market.

Beyond its lead Hydronidone program, Gyre Therapeutics also maintains a diverse and active pipeline in China through its controlling interest in Beijing Continent. This includes Pirfenidone, an approved drug for Idiopathic Pulmonary Fibrosis in China, which is undergoing Phase 3 trials for Dermatomyositis Interstitial Lung Disease, Systemic Sclerosis-associated Interstitial Lung Disease, and Pneumoconiosis, alongside a Phase 1 trial for Diabetic Kidney Disease. Other pipeline assets like F573, F528, and F230 are being investigated for Acute-on-Chronic Liver Failure, Chronic Obstructive Pulmonary Disease, and Pulmonary Arterial Hypertension, respectively, further broadening Gyre's reach into various fibrotic, respiratory, and liver disease markets across the United States and China.

AI Analysis | Feedback

Here are 1-2 brief analogies for Gyre Therapeutics (GYRE):

  • A next-generation Gilead Sciences, but focused on MASH-associated liver fibrosis and leveraging a significant development and market footprint in China.
  • A Chinese biotech with global ambitions, similar to a Hutchmed or BeiGene, that is building a diverse pipeline primarily out of China while also pursuing a major US indication (MASH) with its lead asset.

AI Analysis | Feedback

  • Hydronidone (F351): A drug primarily focused on the treatment of MASH-associated liver fibrosis in the United States, and also in Phase 3 trials for chronic Hepatitis-B induced liver fibrosis in China.
  • Pirfenidone: An approved drug in China for Idiopathic Pulmonary Fibrosis, also undergoing multiple clinical trials for other interstitial lung diseases and diabetic kidney disease.
  • F573: A drug being investigated in China for Acute-on-Chronic Liver Failure.
  • F528: A drug being evaluated in China for Chronic Obstructive Pulmonary Disease.
  • F230: A drug being evaluated in China for Pulmonary Arterial Hypertension.

AI Analysis | Feedback

Gyre Therapeutics (GYRE) is a biopharmaceutical company primarily focused on the development and commercialization of drugs. While much of its pipeline, including Hydronidone, is currently in clinical trials, the company, through its controlling interest in Beijing Continent, has an approved product in China: pirfenidone for Idiopathic Pulmonary Fibrosis. For prescription medications, pharmaceutical companies typically do not sell directly to individuals but rather to various intermediaries within the healthcare supply chain.

Therefore, Gyre's major customers would primarily be other companies and institutions, falling into the following categories:

  • Pharmaceutical Wholesalers and Distributors: These entities purchase pharmaceutical products in large volumes from manufacturers like Gyre (via Beijing Continent) and then distribute them to healthcare providers and pharmacies.
  • Hospitals and Clinics: Healthcare institutions that purchase and administer medications to patients as part of their treatment protocols.
  • Retail Pharmacies: Establishments that dispense prescription drugs directly to patients, acquiring them from wholesalers or sometimes directly from manufacturers.

The provided background information does not specify the names of any particular customer companies or institutions that purchase products from Gyre or its subsidiary Beijing Continent.

AI Analysis | Feedback

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Ying Luo, Ph.D. Chief Executive Officer and President

Dr. Luo was appointed Chief Executive Officer and President of Gyre Therapeutics, effective March 2, 2026. He has served as Chairman of the board of directors and Chief Executive Officer of Cullgen since 2018. Additionally, Dr. Luo has been a director, representative executive officer, president, and chief executive officer of GNI Group Ltd., a multinational biopharma company listed on the Tokyo Stock Exchange, since 2007. He was also the Chief Executive Officer of Shanghai Genomics, Inc., a wholly-owned subsidiary of GNI Japan, from 2001 to 2021. Dr. Luo's extensive career includes roles as a scientist at Aviron Company and Clontech Laboratories, and senior scientist/director/senior director of genomics and target discovery at Rigel Inc. He completed his doctorate in biomedical sciences from the University of Connecticut Health Center in 1991.

Ping Zhang Executive Chairman

Mr. Zhang serves as the Executive Chairman of the Board. He was previously the Interim Chief Executive Officer of Gyre Therapeutics until March 2, 2026. Mr. Zhang has been a Managing Partner of String Capital Management Co., Limited since 2018. His prior experience includes serving as Head of Private Equity Investment and Fund of Funds Business at AEON Life Insurance Company, Ltd., and as a Managing Partner of Japan Asia Investment Co., Ltd. from 2011 to 2015. He also held positions as a Managing Director at AEA Investors LP and Mitsubishi UFJ Securities Co., Ltd. Mr. Zhang earned his M.B.A. in Finance from the University of Chicago Booth School of Business. His background indicates a pattern of managing companies and funds with private equity involvement.

Ruoyu Chen Chief Financial Officer

Ms. Chen holds the position of Chief Financial Officer and Principal Accounting Officer at Gyre Therapeutics. She was appointed Interim Chief Financial Officer on October 30, 2023.

Weiguo Ye Chief Operating Officer

Mr. Ye is the Chief Operating Officer for Gyre Therapeutics. He was appointed to this role on October 30, 2023.

Han Ying, Ph.D. Senior Vice President, Science

Dr. Ying serves as the Senior Vice President, Science at Gyre Therapeutics. He received his Ph.D. in cancer biology from Stanford University and completed his post-doctoral training at the National Cancer Institute.

AI Analysis | Feedback

Here are the key risks for Gyre Therapeutics (GYRE):

  1. High Clinical Development and Regulatory Risk for Hydronidone (F351) in the U.S. for MASH-associated Liver Fibrosis: Gyre Therapeutics' primary focus in the United States is the development and commercialization of Hydronidone for Metabolic Dysfunction Associated Steatohepatitis (MASH-associated liver fibrosis). While Hydronidone has shown promising results in a Phase 2 clinical study in China for chronic Hepatitis-B induced liver fibrosis and has received breakthrough therapy designation in China, its development for MASH in the U.S. is still in early stages, with only a Phase 1 clinical trial completed and an active Investigational New Drug (IND) application. The success of this program is heavily dependent on favorable outcomes from future U.S. clinical trials and subsequent regulatory approval by the FDA, a process known for its high failure rates and significant investment requirements.
  2. Clinical Trial and Regulatory Approval Risks Across the Diverse Pipeline in China: Through its controlling interest in Beijing Continent, Gyre is advancing a diverse pipeline of drug candidates in China, including pirfenidone for new indications (e.g., Dermatomyositis Interstitial Lung Disease, Systemic Sclerosis-associated Interstitial Lung Disease, Pneumoconiosis, Diabetic Kidney Disease), F573 for Acute-on-Chronic Liver Failure, F528 for Chronic Obstructive Pulmonary Disease, and F230 for Pulmonary Arterial Hypertension. Many of these programs are in various stages of clinical trials, from Phase 1 to Phase 3. Each of these development programs carries inherent risks of clinical trial failure, delays in development, or the inability to obtain necessary regulatory approvals from the China’s New Medicines Product Administration (NMPA). Such setbacks could negatively impact the company's future growth prospects and potential revenue streams from its Chinese operations.

AI Analysis | Feedback

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AI Analysis | Feedback

Gyre Therapeutics (GYRE) focuses on developing and commercializing treatments for various diseases, with addressable markets primarily in the U.S. and China.

Hydronidone (F351)

  • Metabolic Dysfunction Associated Steatohepatitis (MASH-associated liver fibrosis) in the U.S.: The U.S. MASH treatment market was valued at approximately USD 4.56 billion in 2024 and is projected to reach USD 32.55 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.88% from 2025 to 2032. The early MASH (significant/advanced fibrosis) segment, which Gyre's Hydronidone targets, accounted for the largest share within the MASH treatment market at $904.74 million in 2024.

Pipeline Products in China (through Beijing Continent)

  • Pirfenidone
    • Idiopathic Pulmonary Fibrosis (IPF) in China: The China idiopathic pulmonary fibrosis market size in 2024 held a significant share within the Asia Pacific market. The global idiopathic pulmonary fibrosis treatment market was estimated at USD 4.54 billion in 2024 and is projected to reach USD 8.6 billion by 2033, growing at a CAGR of 7.35% from 2025 to 2033. The Asia-Pacific region, which includes China, is expected to register the fastest growth in the IPF treatment market.
    • Dermatomyositis Interstitial Lung Disease (DM-ILD) and Systemic Sclerosis-associated Interstitial Lung Disease (SSc-ILD) in China: These are types of Interstitial Lung Disease (ILD). The China Interstitial Lung Disease (ILD) market size was valued at USD 139.85 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. The broader Connective Tissue Disease-associated with Interstitial Lung Disease (CTD-ILD) market in the 7MM (United States, EU4, UK, Japan) and China was approximately USD 1700 million in 2022, with China anticipated to grow significantly.
    • Pneumoconiosis in China: The China Pneumoconiosis Treatment market size was valued at USD 32.70 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period.
    • Diabetic Kidney Disease (DKD) in China: The China market for Diabetic Nephropathy (DKD) is projected to reach USD 0.26 billion by 2026.
  • F573 for Acute-on-Chronic Liver Failure (ACLF) in China: The global Acute-on-Chronic Liver Failure (ACLF) market size was valued at approximately USD 4.5 billion in 2023 and is projected to reach around USD 7.2 billion by 2032, growing at a CAGR of 5.5% from 2024 to 2032. Asia-Pacific is expected to be the fastest-growing region in this market, with China holding a significant share in the broader acute liver failure treatment market.
  • F528 for Chronic Obstructive Pulmonary Disease (COPD) in China: China's Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market was valued at $1.46 billion in 2022 and is estimated to reach $2.84 billion in 2030, expanding at a CAGR of 8.6%.
  • F230 for Pulmonary Arterial Hypertension (PAH) in China: The global pulmonary arterial hypertension market size was estimated at USD 8.02 billion in 2024 and is projected to reach USD 13.34 billion by 2033, growing at a CAGR of 5.9% from 2025 to 2033. The Asia Pacific region, including China, is experiencing the fastest growth in the pulmonary arterial hypertension drug market.

AI Analysis | Feedback

Gyre Therapeutics (NASDAQ: GYRE) is positioned for future revenue growth over the next two to three years, primarily driven by key advancements and commercialization efforts within its pipeline, particularly in the Chinese market, despite a projected revenue decline in 2026 as the company prioritizes regulatory activities.

The expected drivers of future revenue growth include:

  • Commercialization of Hydronidone (F351) for Liver Fibrosis in China: Gyre Therapeutics anticipates submitting a New Drug Application (NDA) for conditional approval of Hydronidone in China for liver fibrosis in the first half of 2026. This follows alignment with China's Center for Drug Evaluation (CDE) for conditional approval and priority review, supported by positive Phase 3 trial data in chronic Hepatitis-B induced liver fibrosis. The potential approval and subsequent launch in China represent a significant near-term revenue opportunity.
  • Expansion of Pirfenidone Indications in China: The company has completed patient enrollment for a 52-week Phase 3 clinical trial of pirfenidone for pneumoconiosis in China. Successful approval and commercialization for this new indication would expand the market reach of pirfenidone, which generated $106.1 million in sales in 2025 for Idiopathic Pulmonary Fibrosis. Additionally, Gyre plans to initiate an adaptive Phase 2/3 trial of pirfenidone in oncology-related pulmonary complications (RILI/immune-related pneumonitis), further diversifying its potential revenue streams from this established drug in China.
  • Advancement of Hydronidone (F351) for MASH-associated Liver Fibrosis in the U.S.: Gyre expects to file an Investigational New Drug (IND) application in 2026 for Hydronidone for the treatment of Metabolic Dysfunction Associated Steatohepatitis (MASH-associated liver fibrosis) in the United States. While commercialization within the next 2-3 years for the U.S. MASH indication might be ambitious, progression through clinical trials will be a significant driver of future valuation and long-term revenue expectations, as analysts forecast substantial revenue growth for Gyre beyond 2026.
  • Continued Growth of Recently Launched Products in China: Gyre successfully launched Etorel® (nintedanib ethanesulfonate soft capsules) in June 2025 and Contiva® (avatrombopag maleate tablets) in March 2025. These products contributed to revenue growth in 2025. While promotional activities are expected to be moderated in 2026 due to market dynamics, continued market penetration and sales expansion of these products in China over the longer term, beyond the anticipated transition year, are expected to contribute to revenue growth.

AI Analysis | Feedback

Share Issuance

  • Gyre Therapeutics has seen a notable increase in its shares outstanding, growing from 0.066 billion at the end of 2023 to 0.104 billion by September 30, 2025.
  • The company's SEC filings indicate common stock issuances under an effective shelf registration statement, with proceeds intended for Hydronidone Phase 2 development in MASH-associated liver fibrosis, research and development, manufacturing scale-up, and general corporate purposes.
  • Stock options have been granted to executives, including a director who received 100,000 stock options in January 2026 and the CFO who received 50,000 stock options in January 2026, which could lead to future share issuances upon exercise.

Inbound Investments

  • GNI Group Ltd. held a 71% ownership stake in Gyre Therapeutics as of June 2025, representing a significant investment and control.

Outbound Investments

  • In March 2026, Gyre Therapeutics entered into an agreement to acquire Cullgen Inc., a privately-held, clinical-stage biopharmaceutical company, in an all-stock transaction valued at approximately $300 million. This acquisition aims to integrate Cullgen's targeted protein degradation platform and pipeline.

Capital Expenditures

  • Gyre Therapeutics Inc. reported capital expenditures of $668K in the third quarter of 2025.
  • For the period leading up to Q3 2025, capital expenditures of $1.2 million largely consumed the company's operating cash flow.

Peer Outperformance in Biotechnology

GYRE has outperformed 98% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that GYRE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
43%
of 451 industry peers · -39.0% return
3Y
52%
of 398 industry peers · -26.8% return
5Y
98%
of 363 industry peers · 451.9% return
No Biotechnology peer with a comparable growth profile has beaten GYRE by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is GYRE's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 12.2%58.2%97.6% CAH 476% · MCK 367% · COR 185%
Health Care Services 20 31.1%37.7%14.8% HIMS 210% · RDNT 129% · DGX 92%
Managed Health Care 8 34.6%-3.7%-3.5% OSCR 84% · HQY 53% · ELV 6%
Health Care Facilities 25 12.6%15.4%-12.2% THC 286% · NHC 227% · EHC 195%
Health Care Equipment 50 6.4%12.3%-19.4% GKOS 430% · UFPT 355% · TMDX 141%
Pharmaceuticals 61 -13.3%6.7%-37.3% LQDA 968% · KNSA 499% · LLY 475%
Health Care Supplies 11 21.4%11.8%-38.8% LNTH 314% · HAE 68% · MMSI 30%
Life Sciences Tools & Services 107 -9.1%-10.2%-70.3% NTRA 232% · AXGN 227% · MEDP 186%
Biotechnology ← 364 -26.5%-33.1%-81.8% TRVI 1017% · DNTH 1008% · ELVN 1002%
Health Care Technology 21 -27.4%-55.9%-82.2% VEEV -3% · DOCS -55%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

GYREVRTXASPEATYRBBTXCTYMedian
NameGyre The.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
Mkt Price4.67541.2012.506.8016.3720.1714.44
Mkt Cap0.5137.3----68.9
Rev LTM11912,587-0--119
Op Inc LTM-144,777--64---14
FCF LTM-73,796--55---7
FCF 3Y Avg-51,957--58---5
CFO LTM-54,293--55---5
CFO 3Y Avg-22,398--58---2

Growth & Margins

GYREVRTXASPEATYRBBTXCTYMedian
NameGyre The.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
Rev Chg LTM13.5%10.2%----11.9%
Rev Chg 3Y Avg-9.8%----9.8%
Rev Chg Q-2.1%12.5%----5.2%
QoQ Delta Rev Chg LTM-0.5%3.0%-0.0%--0.0%
Op Inc Chg LTM-376.3%2,497.9%-8.8%--8.8%
Op Inc Chg 3Y Avg-792.2%--11.3%--390.5%
Op Mgn LTM-11.4%37.9%--33,609.5%---11.4%
Op Mgn 3Y Avg3.4%23.9%----13.7%
QoQ Delta Op Mgn LTM-9.7%-0.2%-4,964.2%---0.2%
CFO/Rev LTM-4.1%34.1%--28,705.3%---4.1%
CFO/Rev 3Y Avg-1.6%19.6%----9.0%
FCF/Rev LTM-6.0%30.2%--28,852.1%---6.0%
FCF/Rev 3Y Avg-4.9%15.7%----5.4%

Valuation

GYREVRTXASPEATYRBBTXCTYMedian
NameGyre The.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
Mkt Cap0.5137.3----68.9
P/S3.910.9----7.4
P/Op Inc-34.528.7-----2.9
P/EBIT-34.527.2-----3.6
P/E-27.031.2----2.1
P/CFO-95.232.0-----31.6
Total Yield-3.7%3.1%-----0.3%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-0.9%1.6%----0.4%
D/E0.00.0----0.0
Net D/E-0.2-0.0-----0.1

Returns

GYREVRTXASPEATYRBBTXCTYMedian
NameGyre The.Vertex P.Aspen Ne.aTyr Pha.Bambusa .City The. 
1M Rtn-34.3%7.2%-16.1%37.1%9.2%-10.0%-1.4%
3M Rtn-23.6%15.0%-16.1%37.1%9.2%-10.0%-0.4%
6M Rtn-41.0%25.9%-16.1%37.1%9.2%-10.0%-0.4%
12M Rtn-39.7%27.2%-16.1%37.1%9.2%-10.0%-0.4%
3Y Rtn-27.7%43.9%-16.1%37.1%9.2%-10.0%-0.4%
1M Excs Rtn-32.0%9.5%-13.8%39.6%11.6%-7.7%0.9%
3M Excs Rtn-21.6%15.5%-13.6%39.8%11.8%-7.5%2.1%
6M Excs Rtn-45.7%21.3%-20.6%32.0%4.4%-14.5%-5.1%
12M Excs Rtn-49.4%18.6%-26.2%25.7%-1.6%-20.1%-10.9%
3Y Excs Rtn685.2%-30.7%-94.9%-51.9%-75.0%-89.4%-63.4%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Gyre Pharmaceuticals117106113
Gyre000
Other000
Total117106113


Operating Income by Segment
$ Mil202520242023
Gyre Pharmaceuticals202224
Other-0-0-3
Gyre-8-6-88
Total1116-67


Net Income by Segment
$ Mil202520242023
Gyre Pharmaceuticals151716
Other-0-0-3
Gyre-51-98
Total1018-85


Assets by Segment
$ Mil202520242023
Gyre Pharmaceuticals138114102
Gyre271114
Other001
Total166125117


Price Behavior

Price Behavior
Market Price$4.73 
Market Cap ($ Bil)0.5 
First Trading Date08/21/2015 
Distance from 52W High-46.0% 
   50 Days200 Days
DMA Price$6.69$6.97
DMA Trendupdown
Distance from DMA-29.3%-32.2%
 3M1YR
Volatility79.1%63.8%
Downside Capture341.42242.12
Upside Capture225.90156.29
Correlation (S&P 500)44.0%35.7%
GYRE Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta7.064.093.351.781.761.58
Up Beta7.191.541.411.561.471.17
Down Beta9.519.458.593.132.291.54
Up Capture280%190%211%67%143%476%
Bmk +ve Days12182862130427
Stock +ve Days8183154112360
Down Capture711%360%286%188%154%112%
Bmk -ve Days10253664121325
Stock -ve Days14243268131380

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GYRE
GYRE-38.3%63.8%-0.49-
Sector ETF (XLV)29.7%16.4%1.3912.5%
Equity (SPY)11.6%12.8%0.5734.9%
Gold (GLD)-2.3%28.6%-0.0924.0%
Commodities (DBC)43.1%20.9%1.60-12.5%
Real Estate (VNQ)11.0%13.7%0.507.4%
Bitcoin (BTCUSD)-28.8%43.6%-0.6620.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GYRE
GYRE-15.9%144.7%0.37-
Sector ETF (XLV)8.6%15.3%0.379.0%
Equity (SPY)12.0%17.1%0.5215.0%
Gold (GLD)16.5%19.0%0.693.2%
Commodities (DBC)8.4%19.6%0.31-0.5%
Real Estate (VNQ)1.1%18.9%-0.0511.2%
Bitcoin (BTCUSD)4.1%51.6%0.268.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GYRE
GYRE-19.2%137.0%0.32-
Sector ETF (XLV)12.1%16.8%0.5912.3%
Equity (SPY)15.2%17.9%0.7216.6%
Gold (GLD)11.6%16.5%0.571.6%
Commodities (DBC)7.8%18.1%0.343.2%
Real Estate (VNQ)5.4%20.7%0.2212.4%
Bitcoin (BTCUSD)61.7%66.3%1.015.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.9 Mil
Short Interest: % Change Since 93020260.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest16.3 days
Basic Shares Quantity100.6 Mil
Short % of Basic Shares1.9%

Earnings Returns History

Updated 9/10/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/7/20264.2%2.2%7.2%
5/7/20265.7%-1.0%-14.4%
3/12/2026-3.2%-12.9%-1.5%
11/7/2025-1.8%10.1%9.5%
8/11/20256.9%11.0%15.6%
5/9/202513.6%19.1%-5.6%
3/17/2025-30.2%-25.0%-31.6%
11/13/2024-9.6%-19.3%-38.9%
...
SUMMARY STATS   
# Positive81210
# Negative1179
Median Positive5.1%7.1%14.5%
Median Negative-3.2%-12.9%-14.4%
Max Positive13.6%61.6%208.0%
Max Negative-41.8%-54.4%-63.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/7/20264.2%2.2%7.2%
5/7/20265.7%-1.0%-14.4%
3/12/2026-3.2%-12.9%-1.5%
11/7/2025-1.8%10.1%9.5%
8/11/20256.9%11.0%15.6%
5/9/202513.6%19.1%-5.6%
3/17/2025-30.2%-25.0%-31.6%
11/13/2024-9.6%-19.3%-38.9%
8/13/2024-2.5%10.2%29.2%
5/9/2024-2.7%0.4%-26.3%
2/14/20248.1%8.3%13.5%
8/14/20234.0%61.6%44.2%
8/15/2022-2.1%0.5%1.6%
5/9/2022-16.0%-8.2%208.0%
11/12/2021-41.8%-54.4%-63.6%
8/5/20210.5%3.0%16.7%
5/6/2021-2.4%-6.9%-9.5%
3/4/2021-3.4%5.1%-11.9%
11/5/20204.5%5.9%11.3%
SUMMARY STATS   
# Positive81210
# Negative1179
Median Positive5.1%7.1%14.5%
Median Negative-3.2%-12.9%-14.4%
Max Positive13.6%61.6%208.0%
Max Negative-41.8%-54.4%-63.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/13/202610-K
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/09/202510-Q
12/31/202403/17/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/13/202410-Q
12/31/202303/27/202410-K
03/31/202307/20/2023DEFM14A
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/13/202610-K
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/09/202510-Q
12/31/202403/17/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/13/202410-Q
12/31/202303/27/202410-K
03/31/202307/20/2023DEFM14A

Recent Forward Guidance

Updated 11/2/2026

Latest: Q2 2026 Earnings Reported 8/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported100.50 Mil105.75 Mil111.00 Mil0 AffirmedGuidance: 105.75 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported100.50 Mil105.75 Mil111.00 Mil  AffirmedGuidance: 105.75 Mil for 2026

Q4 2025 Earnings Reported 3/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported100.50 Mil105.75 Mil111.00 Mil-9.2% Lower NewGuidance: 116.50 Mil for 2025
2026 Revenue GrowthReported-13.8%-9.3%-4.8%   

Q3 2025 Earnings Reported 11/7/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 RevenueReported115.00 Mil116.50 Mil118.00 Mil-5.3% LoweredGuidance: 123.00 Mil for 2025

Insider Activity

Updated 8/4/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ye, WeiguoChief Operating OfficerDirectSell62220266.353,00019,0504,445,000Form
2Ye, WeiguoChief Operating OfficerDirectSell62220266.245,00031,2004,368,000Form
3Ye, WeiguoChief Operating OfficerDirectSell62220266.153,00018,4504,305,000Form
4Ye, WeiguoChief Operating OfficerDirectSell61520266.172,80017,2764,319,000Form
5Ye, WeiguoChief Operating OfficerDirectSell61120266.216,41839,8564,347,000Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ye, WeiguoChief Operating OfficerDirectSell62220266.353,00019,0504,445,000Form
2Ye, WeiguoChief Operating OfficerDirectSell62220266.245,00031,2004,368,000Form
3Ye, WeiguoChief Operating OfficerDirectSell62220266.153,00018,4504,305,000Form
4Ye, WeiguoChief Operating OfficerDirectSell61520266.172,80017,2764,319,000Form
5Ye, WeiguoChief Operating OfficerDirectSell61120266.216,41839,8564,347,000Form
6Ye, WeiguoChief Operating OfficerDirectSell61120266.1414,50089,0304,298,000Form
7Ye, WeiguoChief Operating OfficerDirectSell60820266.4015,40198,5664,480,000Form
8Ye, WeiguoChief Operating OfficerDirectSell60820266.1319,575119,9954,291,000Form
9Ye, WeiguoChief Operating OfficerDirectSell52720266.104,00024,4004,270,070Form
10Ye, WeiguoChief Operating OfficerDirectSell52720266.083,50021,2804,256,000Form
11Ye, WeiguoChief Operating OfficerDirectSell52220266.1512,82078,8434,305,000Form
12Ye, WeiguoChief Operating OfficerDirectSell52220266.159,40057,8104,305,000Form
13Ye, WeiguoChief Operating OfficerDirectSell52020266.379,12058,0944,459,000Form
14Ye, WeiguoChief Operating OfficerDirectSell52020266.622001,3244,634,000Form
15Ye, WeiguoChief Operating OfficerDirectSell51820266.6513,10087,1154,655,000Form
16Ye, WeiguoChief Operating OfficerDirectSell51820266.9115,580107,6584,837,000Form
17Luo, YingChief Executive OfficerSpouseSell50720268.0410,13681,49320,624,417Form
18Luo, YingChief Executive OfficerSpouseSell50720268.011791,43420,628,650Form
Core Cache Last Updated: 11/2/2026