v3.26.1
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
Total
Series B Convertible Preferred Stock
Redeemable Convertible Preferred Stock
Redeemable Noncontrolling Interests
Common Stock
Additional Paid-In Capital
Statutory Reserve
Accumulated Deficit
Accumulated Other Comprehensive (Loss) Income
Total Gyre Stockholders' Equity
Non-controlling Interest
Balance at Dec. 31, 2024 $ 35,790,000       $ 86,000 $ 136,954,000 $ 3,098,000 $ (109,348,000) $ (2,898,000) $ 27,892,000 $ 7,898,000
Balance (in shares) at Dec. 31, 2024         86,307,544            
Temporary Equity, Balance at Dec. 31, 2024     $ 15,784,000 $ 102,325,000              
Temporary Equity, Balance (in shares) at Dec. 31, 2024     2,601,826 1,095,409              
Stock-based compensation expense 823,000         507,000       507,000 316,000
Stock options exercised 956,000       $ 1,000 955,000       956,000  
Stock options exercised (in shares)         1,273,931            
Accretion of Cullgen redeemable convertible preferred stock       $ 2,578,000              
Accretion of Cullgen redeemable convertible preferred stock (2,578,000)             (993,000)   (993,000) (1,585,000)
Issuance of Common Stock 509,000         509,000       509,000  
Issuance of Common Stock (in shares)         54,734            
CVR liability settlement 25,000         25,000       25,000  
Deferred financing costs amortization (2,000)         (2,000)       (2,000)  
Unrealized gains (loss) on short-term investments 18,000               7,000 7,000 11,000
Reclassification adjustment for loss included in net income (loss) (4,000)               (2,000) (2,000) (2,000)
Foreign currency translation adjustments 199,000               122,000 122,000 77,000
Net income (loss) 4,939,000             3,163,000   3,163,000 1,776,000
Balance at Mar. 31, 2025 40,675,000       $ 87,000 138,948,000 3,098,000 (107,178,000) (2,771,000) 32,184,000 8,491,000
Balance (in shares) at Mar. 31, 2025         87,636,209            
Temporary Equity, Balance at Mar. 31, 2025     $ 15,784,000 $ 104,903,000              
Temporary Equity, Balance (in shares) at Mar. 31, 2025     2,601,826 1,095,409              
Balance at Dec. 31, 2024 35,790,000       $ 86,000 136,954,000 3,098,000 (109,348,000) (2,898,000) 27,892,000 7,898,000
Balance (in shares) at Dec. 31, 2024         86,307,544            
Temporary Equity, Balance at Dec. 31, 2024     $ 15,784,000 $ 102,325,000              
Temporary Equity, Balance (in shares) at Dec. 31, 2024     2,601,826 1,095,409              
Unrealized gains (loss) on short-term investments (4,000)                    
Balance at Jun. 30, 2025 59,610,000       $ 91,000 162,206,000 3,098,000 (109,222,000) (2,560,000) 53,613,000 5,997,000
Balance (in shares) at Jun. 30, 2025         90,822,828            
Temporary Equity, Balance at Jun. 30, 2025     $ 15,784,000 $ 107,545,000              
Temporary Equity, Balance (in shares) at Jun. 30, 2025     2,601,826 1,095,409              
Balance at Mar. 31, 2025 40,675,000       $ 87,000 138,948,000 3,098,000 (107,178,000) (2,771,000) 32,184,000 8,491,000
Balance (in shares) at Mar. 31, 2025         87,636,209            
Temporary Equity, Balance at Mar. 31, 2025     $ 15,784,000 $ 104,903,000              
Temporary Equity, Balance (in shares) at Mar. 31, 2025     2,601,826 1,095,409              
Stock-based compensation expense 1,120,000         906,000       906,000 214,000
Stock options exercised 1,032,000       $ 1,000 1,031,000       1,032,000  
Stock options exercised (in shares)         631,064            
Accretion of Cullgen redeemable convertible preferred stock       $ 2,642,000              
Accretion of Cullgen redeemable convertible preferred stock (2,642,000)             (1,017,000)   (1,017,000) (1,625,000)
Issuance of Common Stock 23,000,000       $ 3,000 22,997,000       23,000,000  
Issuance of Common Stock (in shares)         2,555,555            
Deferred financing costs amortization (1,676,000)         (1,676,000)       (1,676,000)  
Unrealized gains (loss) on short-term investments (22,000)               (9,000) (9,000) (13,000)
Reclassification adjustment for loss included in net income (loss) 12,000               5,000 5,000 7,000
Foreign currency translation adjustments 348,000               215,000 215,000 133,000
Net income (loss) (2,237,000)             (1,027,000)   (1,027,000) (1,210,000)
Balance at Jun. 30, 2025 59,610,000       $ 91,000 162,206,000 3,098,000 (109,222,000) (2,560,000) 53,613,000 5,997,000
Balance (in shares) at Jun. 30, 2025         90,822,828            
Temporary Equity, Balance at Jun. 30, 2025     $ 15,784,000 $ 107,545,000              
Temporary Equity, Balance (in shares) at Jun. 30, 2025     2,601,826 1,095,409              
Balance at Dec. 31, 2025 59,545,000       $ 91,000 172,819,000 3,098,000 (112,603,000) (908,000) 62,497,000 (2,952,000)
Balance (in shares) at Dec. 31, 2025         91,314,007            
Temporary Equity, Balance at Dec. 31, 2025     $ 15,784,000 $ 113,030,000              
Temporary Equity, Balance (in shares) at Dec. 31, 2025     2,601,826 1,095,409              
Appropriation of statutory reserve             550,000 (550,000)      
Stock-based compensation expense 2,825,000         2,583,000       2,583,000 242,000
Stock options exercised 21,000         21,000       21,000  
Stock options exercised (in shares)         23,114            
Accretion of Cullgen redeemable convertible preferred stock       $ 2,847,000              
Accretion of Cullgen redeemable convertible preferred stock (2,847,000)             (1,096,000)   (1,096,000) (1,751,000)
Unrealized gains (loss) on short-term investments (51,000)               (20,000) (20,000) (31,000)
Reclassification adjustment for loss included in net income (loss) (8,000)               (3,000) (3,000) (5,000)
Foreign currency translation adjustments 2,179,000               1,451,000 1,451,000 728,000
Net income (loss) (18,579,000)             (12,050,000)   (12,050,000) (6,529,000)
Balance at Mar. 31, 2026 43,085,000       $ 91,000 175,423,000 3,648,000 (126,299,000) 520,000 53,383,000 (10,298,000)
Balance (in shares) at Mar. 31, 2026         91,337,121            
Temporary Equity, Balance at Mar. 31, 2026     $ 15,784,000 $ 115,877,000              
Temporary Equity, Balance (in shares) at Mar. 31, 2026     2,601,826 1,095,409              
Balance at Dec. 31, 2025 59,545,000       $ 91,000 172,819,000 3,098,000 (112,603,000) (908,000) 62,497,000 (2,952,000)
Balance (in shares) at Dec. 31, 2025         91,314,007            
Temporary Equity, Balance at Dec. 31, 2025     $ 15,784,000 $ 113,030,000              
Temporary Equity, Balance (in shares) at Dec. 31, 2025     2,601,826 1,095,409              
Unrealized gains (loss) on short-term investments (337,000)                    
Net income (loss) (32,800,000)                    
Balance at Jun. 30, 2026 142,489,000       $ 106,000 240,644,000 3,648,000 (137,962,000) 1,492,000 107,928,000 34,561,000
Balance (in shares) at Jun. 30, 2026         106,033,763            
Temporary Equity, Balance at Jun. 30, 2026   $ 22,430,000 $ 0                
Temporary Equity, Balance (in shares) at Jun. 30, 2026   3,697,235 0                
Balance at Mar. 31, 2026 43,085,000       $ 91,000 175,423,000 3,648,000 (126,299,000) 520,000 53,383,000 (10,298,000)
Balance (in shares) at Mar. 31, 2026         91,337,121            
Temporary Equity, Balance at Mar. 31, 2026     $ 15,784,000 $ 115,877,000              
Temporary Equity, Balance (in shares) at Mar. 31, 2026     2,601,826 1,095,409              
Stock-based compensation expense 1,833,000         1,833,000       1,833,000  
Stock options exercised 188,000         188,000       188,000  
Stock options exercised (in shares)         246,115            
Shares issued upon common control merger with Cullgen 111,038,000 $ 22,430,000 $ (15,784,000) $ (116,935,000) $ 15,000 63,200,000     (376,000) 62,839,000 48,199,000
Shares issued upon common control merger with Cullgen (in shares)   3,697,235 (2,601,826) (1,095,409) 14,450,527            
Accretion of Cullgen redeemable convertible preferred stock       $ 1,058,000              
Accretion of Cullgen redeemable convertible preferred stock (1,058,000)             (407,000)   (407,000) (651,000)
Unrealized gains (loss) on short-term investments (286,000)               (18,000) (18,000) (268,000)
Foreign currency translation adjustments 1,959,000               1,366,000 1,366,000 593,000
Net income (loss) (14,270,000)             (11,256,000)   (11,256,000) (3,014,000)
Balance at Jun. 30, 2026 $ 142,489,000       $ 106,000 $ 240,644,000 $ 3,648,000 $ (137,962,000) $ 1,492,000 $ 107,928,000 $ 34,561,000
Balance (in shares) at Jun. 30, 2026         106,033,763            
Temporary Equity, Balance at Jun. 30, 2026   $ 22,430,000 $ 0                
Temporary Equity, Balance (in shares) at Jun. 30, 2026   3,697,235 0