$CYCN
Cyclerion Therapeutics, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021022522 Filed on April 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $62.00K $1.014M
YoY Change -93.89%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.370M $6.890M
YoY Change -22.06% -37.25%
% of Gross Profit
Research & Development $8.092M $16.83M
YoY Change -51.9% -36.27%
% of Gross Profit
Depreciation & Amortization $260.0K $630.0K
YoY Change -58.73% 18.87%
% of Gross Profit
Operating Expenses $13.46M $21.60M
YoY Change -37.71% -42.21%
Operating Profit -$13.40M -$20.59M
YoY Change -34.94%
Interest Expense $0.00 $360.0K
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$4.000K $361.0K
YoY Change -101.11%
Pretax Income -$13.40M -$20.23M
YoY Change -33.76% -45.88%
Income Tax
% Of Pretax Income
Net Earnings -$13.40M -$20.23M
YoY Change -33.76% -45.89%
Net Earnings / Revenue -21611.29% -1994.87%
Basic Earnings Per Share
Diluted Earnings Per Share -$393.2K -$731.1K
COMMON SHARES
Basic Shares Outstanding 34.05M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.40M $67.10M
YoY Change -38.3%
Cash & Equivalents $41.43M $67.10M
Short-Term Investments
Other Short-Term Assets $1.804M $2.000M
YoY Change -9.8% 122.22%
Inventory
Prepaid Expenses $1.213M
Receivables $0.00 $1.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $44.45M $70.10M
YoY Change -36.6% 7688.89%
LONG-TERM ASSETS
Property, Plant & Equipment $65.00K $63.90M
YoY Change -99.9% 626.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.681M $6.100M
YoY Change -56.05%
Total Long-Term Assets $55.52M $69.90M
YoY Change -20.57% 685.39%
TOTAL ASSETS
Total Short-Term Assets $44.45M $70.10M
Total Long-Term Assets $55.52M $69.90M
Total Assets $99.97M $140.0M
YoY Change -28.6% 1328.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.095M $1.500M
YoY Change -27.0% -73.68%
Accrued Expenses $8.500M $9.200M
YoY Change -7.61% -17.86%
Deferred Revenue
YoY Change
Short-Term Debt $3.500M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.47M $11.40M
YoY Change 18.13% -34.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $38.10M $47.10M
YoY Change -19.11% 47000.0%
Total Long-Term Liabilities $38.10M $47.10M
YoY Change -19.11% 47000.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.47M $11.40M
Total Long-Term Liabilities $38.10M $47.10M
Total Liabilities $51.50M $58.50M
YoY Change -11.97% 234.29%
SHAREHOLDERS EQUITY
Retained Earnings -$176.8M
YoY Change
Common Stock $225.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.43M $81.54M
YoY Change
Total Liabilities & Shareholders Equity $99.97M $140.0M
YoY Change -28.6% 1328.57%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$13.40M -$20.23M
YoY Change -33.76% -45.89%
Depreciation, Depletion And Amortization $260.0K $630.0K
YoY Change -58.73% 18.87%
Cash From Operating Activities -$14.46M -$29.18M
YoY Change -50.46% -14.85%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.405M
YoY Change -100.0% -177.62%
Acquisitions
YoY Change
Other Investing Activities $1.460M $50.00K
YoY Change 2820.0%
Cash From Investing Activities $1.462M -$1.356M
YoY Change -207.82% -25.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.00K 1.000K
YoY Change 2600.0% -100.0%
NET CHANGE
Cash From Operating Activities -14.46M -29.18M
Cash From Investing Activities 1.462M -1.356M
Cash From Financing Activities 27.00K 1.000K
Net Change In Cash -12.97M -30.53M
YoY Change -57.53% -305430.0%
FREE CASH FLOW
Cash From Operating Activities -$14.46M -$29.18M
Capital Expenditures $0.00 $1.405M
Free Cash Flow -$14.46M -$30.59M
YoY Change -52.74% -5.78%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42396000
CY2021Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2681000
CY2021Q1 us-gaap Assets
Assets
99967000
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1095000
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
286000
CY2021Q1 cycn Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
1620000
CY2020Q4 cycn Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
1421000
CY2021Q1 cycn Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
3858000
CY2020Q4 cycn Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
7294000
CY2021Q1 us-gaap Notes Payable Current
NotesPayableCurrent
3509000
CY2020Q4 us-gaap Notes Payable Current
NotesPayableCurrent
3509000
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3385000
CY2021Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1213000
CY2021Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1804000
CY2021Q1 us-gaap Assets Current
AssetsCurrent
44446000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3837000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6607000
CY2021Q1 us-gaap Revenues
Revenues
62000
CY2020Q1 us-gaap Revenues
Revenues
1014000
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16825000
CY2021Q1 us-gaap Liabilities Current
LiabilitiesCurrent
13467000
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
13457000
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
21603000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13395000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-20589000
CY2021Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8092000
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5365000
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6891000
CY2020Q1 cycn Gain Loss On Modification Of Lease
GainLossOnModificationOfLease
2113000
CY2021Q1 cycn Stock Issued During Period Value Exercise Of Stock Options Restricted Stock Units And Employee Stock Purchase Plans
StockIssuedDuringPeriodValueExerciseOfStockOptionsRestrictedStockUnitsAndEmployeeStockPurchasePlans
27000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1921000
CY2021Q1 cycn Sharebased Compensation Expense Related To Issuance Of Stock Options To Non Employees
SharebasedCompensationExpenseRelatedToIssuanceOfStockOptionsToNonEmployees
391000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-13399000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-20228000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
38067000
CY2021Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-176828000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-163429000
CY2021Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
225288000
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
222949000
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-27000
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-27000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
48433000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
59493000
CY2021Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
99967000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
115378000
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34129925
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34047300
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34129925
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34047300
CY2021Q1 cycn Revenue From Development Agreement
RevenueFromDevelopmentAgreement
62000
CY2020Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1014000
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4000
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
361000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-13399000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-20228000
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.73
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34081000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27669000
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-13399000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-20226000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
97729000
CY2020Q1 cycn Stock Issued During Period Value Exercise Of Stock Options Restricted Stock Units And Employee Stock Purchase Plans
StockIssuedDuringPeriodValueExerciseOfStockOptionsRestrictedStockUnitsAndEmployeeStockPurchasePlans
1000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4036000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
81540000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1356000
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
258000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
626000
CY2021Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
12000
CY2020Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
41000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2312000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4036000
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-127000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-448000
CY2021Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
396000
CY2020Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-98000
CY2021Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
92000
CY2020Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
9000
CY2021Q1 cycn Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
-1006000
CY2020Q1 cycn Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
5502000
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-91000
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
519000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-54000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1026000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-286000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-22000
CY2021Q1 cycn Increase Decrease In Accrued Research And Development
IncreaseDecreaseInAccruedResearchAndDevelopment
199000
CY2020Q1 cycn Increase Decrease In Accrued Research And Development
IncreaseDecreaseInAccruedResearchAndDevelopment
484000
CY2021Q1 cycn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-774000
CY2020Q1 cycn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-699000
CY2021Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-3435000
CY2020Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-4713000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14455000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29180000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1405000
CY2021Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1462000
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
49000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1462000
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
27000
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1000
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12966000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-30533000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58232000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102620000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45266000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72087000
CY2020Q1 cycn Payments For Lease Modification Termination Fee And Other Initial Direct Costs
PaymentsForLeaseModificationTerminationFeeAndOtherInitialDirectCosts
6507000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
39000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67096000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3837000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4991000
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company&#8217;s management to make estimates and judgments that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the amounts of expenses during the reported periods. On an ongoing basis, the Company&#8217;s management evaluates its estimates, judgments, and methodologies. Significant estimates and assumptions in the consolidated financial statements include those related to revenue, impairment of long-lived assets, valuation procedures for right-of-use assets and operating lease liabilities, income taxes, including the valuation allowance for deferred tax assets, research and development expenses, contingencies, and share-based compensation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ materially from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.<font style="font-family:Calibri;font-size:11pt;">&#160;</font></p>
CY2020Q1 cycn Decrease In Right Of Use Assets Related To Lease Modification
DecreaseInRightOfUseAssetsRelatedToLeaseModification
21386000
CY2020Q1 cycn Decrease In Operating Lease Liabilities Related To Lease Modification
DecreaseInOperatingLeaseLiabilitiesRelatedToLeaseModification
23499000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1405000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2421000
CY2020Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1720000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.097
CY2021Q1 us-gaap Health Care Trust Fund Description
HealthCareTrustFundDescription
We have initiated our CY6463 Phase 2a clinical trial in adult participants with MELAS. Startup activities are ongoing for our Phase 2a clinical trial in ADv, with enrollment expected to begin in mid-2021.The ADv study will be supported in part by a grant from the Alzheimer’s Association’s Part the Cloud-Gates Partnership Grant Program, which provides Cyclerion with $2 million of funding over two years
CY2019Q2 cycn Dividends Common Stock Stock Ratio
DividendsCommonStockStockRatio
0.1
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17152000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17152000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10545000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10287000
CY2021Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
368000
CY2021Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
457000
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
514000
CY2021Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
351000
CY2020Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
555000
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
528000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
689000
CY2021Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1779000
CY2020Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3640000
CY2021Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
375000
CY2020Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
176000
CY2021Q1 us-gaap Lease Cost
LeaseCost
1600000
CY2020Q1 us-gaap Lease Cost
LeaseCost
2700000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5908000
CY2020Q1 cycn Gross Sublease Income Net Of Rent Expense
GrossSubleaseIncomeNetOfRentExpense
500000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
100000
CY2020Q3 cycn Rentable Square Feet Terminated From Lease Agreement
RentableSquareFeetTerminatedFromLeaseAgreement
15700
CY2021Q1 cycn Sublease Termination Agreement Estimated Fair Value Of Rooms
SubleaseTerminationAgreementEstimatedFairValueOfRooms
1500000
CY2021Q1 cycn Sublease Termination Agreement Estimated Fair Value Of Services
SubleaseTerminationAgreementEstimatedFairValueOfServices
2900000
CY2021Q1 cycn Sublease Termination Agreement Prepaid Rooms And Services
SubleaseTerminationAgreementPrepaidRoomsAndServices
4400000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4337000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6080000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6256000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6438000
CY2021Q1 cycn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
24047000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
53066000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11614000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
41452000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Number Of Employees Affected
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected
143
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2312000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4036000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
200000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M28D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
150000
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.01
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
450000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.01
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
200000
CY2021Q1 us-gaap Defined Contribution Plan Type Extensible List
DefinedContributionPlanTypeExtensibleList
us-gaap:QualifiedPlanMember
CY2021Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.75
CY2021Q1 cycn Defined Contribution Plan Employer Matching Contribution Maximum
DefinedContributionPlanEmployerMatchingContributionMaximum
6000
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2020Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000

Files In Submission

Name View Source Status
0001564590-21-022522-index-headers.html Edgar Link pending
0001564590-21-022522-index.html Edgar Link pending
0001564590-21-022522.txt Edgar Link pending
0001564590-21-022522-xbrl.zip Edgar Link pending
cycn-10q_20210331.htm Edgar Link pending
cycn-20210331.xml Edgar Link completed
cycn-20210331.xsd Edgar Link pending
cycn-20210331_cal.xml Edgar Link unprocessable
cycn-20210331_def.xml Edgar Link unprocessable
cycn-20210331_lab.xml Edgar Link unprocessable
cycn-20210331_pre.xml Edgar Link unprocessable
cycn-ex311_8.htm Edgar Link pending
cycn-ex312_9.htm Edgar Link pending
cycn-ex321_7.htm Edgar Link pending
cycn-ex322_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending