CYPH · NASDAQ · Asset Management

Cypherpunk Technologies (CYPH)

Builds a Zcash treasury and privacy technologies while retaining an oncology subsidiary.

$1.73
Pre-market+0.05 (+2.99%)
At close$1.68(−2.05%)
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Cypherpunk Technologies Inc.CYPHFinancials

Builds a Zcash-centered digital-asset treasury while pursuing privacy technologies. Through its wholly owned Leap Therapeutics subsidiary, it also advances the oncology programs sirexatamab and FL-501; reported results depend on ZEC fair value and clinical, regulatory, and development outcomes.

Built around a Zcash treasury, the company accumulates ZEC and pursues investments, acquisitions, and internal development in privacy technologies.

A wholly owned Leap Therapeutics subsidiary retains the oncology pipeline, developing sirexatamab and FL-501. Sirexatamab is a DKK1-inhibiting monoclonal antibody, while FL-501 is a preclinical program for cachexia-related indications.

The Nasdaq issuer adopted the Cypherpunk Technologies name and CYPH ticker in November 2025 after operating as Leap Therapeutics. Its reported results depend materially on the fair value of the ZEC treasury, as well as clinical, regulatory, and development outcomes for the subsidiary's programs.

Company facts

CEODouglas E. Onsi
ListedNov 13, 2025
ExchangeNASDAQ
HeadquartersCambridge, MA
CountryUnited States
Employees6
CIK0001509745
ISINUS52187K2006

Market cap$178.9M
EPS (ttm)$0.6300
P/E (ttm)2.67
ROE-0.6%
P/B2.13
P/S0.00
Dividend yieldDiv yield
Beta4.32vs XLF 0.65

Price target$5.50+227.4%Avg of 8 analysts
ConsensusBuy8 of 8 analysts
Ratings

Target rangeAs of Sep 2, 2026

Latest analyst notes

DateFirmActionRating
Jul 1, 2026Cantor FitzgeraldInitiateOverweight

Next report
Nov 11, 2026
in 69 days
EPS estimate
$0.01
Revenue estimate
$8.9M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

May '25Aug '25Nov '25Mar '26May '26Aug '26Aug '26Nov '26
Reported−$0.37−$0.40−$0.08−$0.23−$0.46$0.18$0.18Pending
Estimate−$0.38−$0.29−$0.24−$0.07−$0.04−$0.03−$0.03$0.01
Surprise+2.6%−37.9%+66.7%−246.4%−1,033.0%+700.0%+700.0%

RevenueReportedEstimate

May '25Aug '25Nov '25Mar '26May '26Aug '26Aug '26Nov '26
Reported$209.0KPending
Estimate$8.9M
Surprise
Estimate$0.01
ReportedDue Nov 11, 2026
Estimate$8.9M
ReportedDue Nov 11, 2026
View details

Debt to equity0.00%
Current ratio7,918.80%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$0$234.0K$0$0$0$0$0$0
Net income−$18.2M−$40.2M−$15.4M−$16.6M−$3.3M$40.2M−$77.2M$39.4M
Net margin0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income−$17.9M−$45.0M−$15.9M−$16.9M−$3.2M−$5.1M−$4.8M−$4.7M
YoY growth

Balance sheet, Jun 30, 2026Cash & short-term investments $7.6M · Total debt $38.0K · Total assets $143.0M · Shareholders' equity $139.3M

Revenue
$0
Operating income
−$4.7M
Net income
$39.4M
View details

No dividends on record.

Insiders17 holders · as of Aug 27, 20262.63%2.84M shares
Strategic holders1 holder · as of Feb 10, 20220.29%315.2K shares
Otherremainder97.08%104.61M shares

107.76M company shares as of Sep 3, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesEvidence
Augustine LawlorInsiderofficer: Chief Operating Officer
0.65%698,245Form 4filed Apr 1, 2025
Kevin ZhangInsiderofficer: Head of Mining
0.31%330,904Form 4filed Aug 24, 2026
Lilly Eli & Co1Strategic10 percent owner
0.29%315,16113G/Afiled Feb 10, 2022
James H. CavanaughInsiderdirector
0.16%168,963Form 4filed Mar 17, 2026
William LiInsiderdirector
0.16%168,750Form 4filed Mar 17, 2026
See all 25
  1. Lilly Eli & Co's transaction reports restate only vehicles that traded; the 2022 ownership statement (315.2K) is used instead.

13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 26, 2026Thomas John Dietzdirector−20,000$1.72
Mar 26, 2026Christopher Mirabellidirector−60,000$0.7105
Nov 17, 2025Douglas E. Onsidirector, officer: CEO,CFO,Pres.,GC,Treas.&Sec.−676,319$3.14
Nov 17, 2025James H. Cavanaughdirector−261,840$3.14
Nov 17, 2025Christopher Mirabellidirector−676,319$3.14
View details

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ComparePre-market

CompanyPriceChange
Cypherpunk Technologies$1.73+2.99%$178.9M2.720.9
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Amgen$443.00+0.04%$239.00B27.518.96.3+9.7%
Eli Lilly$1,167.77+0.72%$1.09T38.928.413.7+47.7%
Median33.223.66.3+9.7%