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Cypherpunk Technologies Inc. (CYPH) 10-Year Financial Performance & Capital Metrics

CYPH • • Industrial / General
HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology
AboutCypherpunk Technologies Inc., a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead clinical stage drug candidate includes DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in various ongoing clinical trials for treating esophagogastric and gynecologic cancers, and colorectal cancer. The company also develops FL-501, a monoclonal antibody that inhibits GDF-15 protein that is in preclinical trial. It has an option and license agreement with Adimab, LLC and BeiGene, Ltd. to develop and commercialize DKN-01 in Asia (excluding Japan), Australia, and New Zealand. The company was formerly known as Leap Therapeutics, Inc. and changed its name to Cypherpunk Technologies Inc. in November 2025. The company was incorporated in 2011 and is based in Cambridge, Massachusetts.Show more
  • Revenue $0
  • EBITDA -$70M +19.1%
  • Net Income -$68M +17.0%
  • EPS (Diluted) -1.81 +54.5%
  • Gross Margin -
  • EBITDA Margin -
  • Operating Margin -
  • Net Margin -
  • ROE -141.94%
  • ROIC -
  • Debt/Equity 0.01 +74.2%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 97 (top 3%)
  • ✓Trading at only 1.2x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Shares diluted 83.7% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y-
TTM31.45%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-27.89%

EPS CAGR

10Y-
5Y-
3Y-
TTM36.46%

ROCE

10Y Avg-92.29%
5Y Avg-84.83%
3Y Avg-122.7%
Latest-147.2%

Peer Comparison

Solid Tumor Oncology
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Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+00009.68M10.05M1.5M000
Revenue Growth %-----0.04%-0.85%-1%--
Cost of Goods Sold+025K48K49K4.56M4.93M00427K0
COGS % of Revenue----0.47%0.49%----
Gross Profit+0-25K-48K-49K5.12M5.12M1.5M0-427K0
Gross Margin %----0.53%0.51%1%---
Gross Profit Growth %---0.92%-0.02%105.57%-0%-0.71%-1%-1%
Operating Expenses+21.09M27.52M32.35M30M8.6M8.57M42.93M56.76M86.61M70.06M
OpEx % of Revenue----0.89%0.85%28.62%---
Selling, General & Admin5.72M4.23M9.85M8.92M7.44M7.02M10.77M11.8M13.38M12.85M
SG&A % of Revenue----0.77%0.7%7.18%---
Research & Development15.37M23.29M22.5M21.07M1.13M1.43M32.16M44.97M73.23M57.21M
R&D % of Revenue----0.12%0.14%21.44%---
Other Operating Expenses000034K118K0000
Operating Income+-21.09M-27.52M-32.35M-30.75M-3.48M-3.45M-41.43M-56.76M-87.04M-70.06M
Operating Margin %-----0.36%-0.34%-27.62%---
Operating Income Growth %-0.01%-0.3%-0.18%0.05%0.89%0.01%-11.02%-0.37%-0.53%0.2%
EBITDA+-20.61M-27.5M-32.3M-30.7M-3.27M-3.24M-41.4M-56.75M-86.61M-70.05M
EBITDA Margin %-----0.34%-0.32%-27.6%---
EBITDA Growth %-0.02%-0.33%-0.17%0.05%0.89%0.01%-11.79%-0.37%-0.53%0.19%
D&A (Non-Cash Add-back)474K25K48K49K206K210K29K16K427K5K
EBIT-11.92M-24.4M-29.76M-23.1M-3.48M-3.44M-40.57M-54.4M-81.41M-70.06M
Net Interest Income+138K-1.23M49K428K30K54K-32K871K4.03M3.13M
Interest Income156K2K170K447K313K93K9K925K4.03M3.13M
Interest Expense18K1.23M121K19K23K39K41K54K00
Other Income/Expense9.04M1.89M2.47M7.63M30K59K815K2.31M5.63M3.09M
Pretax Income+-20.95M-25.63M-29.88M-23.12M-3.45M-3.39M-40.61M-54.45M-81.41M-66.97M
Pretax Margin %-----0.36%-0.34%-27.07%---
Income Tax+152K0-157K20K00-24K147K0585K
Effective Tax Rate %1.01%1%0.99%1%1%1%1%1%1%1.01%
Net Income+-21.1M-25.63M-29.73M-23.14M-3.45M-3.39M-40.59M-54.6M-81.41M-67.56M
Net Margin %-----0.36%-0.34%-27.06%---
Net Income Growth %0.17%-0.21%-0.16%0.22%0.85%0.02%-10.98%-0.35%-0.49%0.17%
Net Income (Continuing)-12.05M-25.63M-29.73M-23.14M-3.45M-3.39M-40.59M-54.6M-81.41M-67.56M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-12.37-27.29-32.35-16.05-14.57-4.64-4.73-4.82-3.98-1.81
EPS Growth %0.42%-1.21%-0.19%0.5%0.09%0.68%-0.02%-0.02%0.17%0.55%
EPS (Basic)-12.37-27.29-32.45-16.36-14.57-4.64-4.73-4.82-3.98-1.81
Diluted Shares Outstanding1.71M939.24K918.86K1.44M2.26M5.93M8.58M11.32M20.45M37.55M
Basic Shares Outstanding1.71M939.24K916.18K1.41M2.26M5.93M8.58M11.32M20.45M37.55M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+27.92M4.03M27.66M17.32M5.51M67.3M116.87M53.22M71.6M48.04M
Cash & Short-Term Investments27.57M793K25.74M16.28M2.39M63.83M114.92M43.76M70.64M47.25M
Cash Only20.97M793K25.74M16.28M2.39M63.83M114.92M20.99M70.64M47.25M
Short-Term Investments6.61M00000022.76M00
Accounts Receivable03.17M1.74M836K2.04M2.01M1.19M1.36M771K704K
Days Sales Outstanding----77.0773.09289.32---
Inventory030K00645K980K01.4M00
Days Inventory Outstanding-438--51.6772.53----
Other Current Assets000058K59K06.26M183K86K
Total Non-Current Assets+232K2.43M1.4M1.75M3.19M3.11M1.04M4.88M1.23M1.08M
Property, Plant & Equipment232K119K135K86K2.74M2.73M495K371K262K262K
Fixed Asset Turnover----3.54x3.69x3.03x---
Goodwill0000000000
Intangible Assets0000138K130K025K00
Long-Term Investments0000000150K00
Other Non-Current Assets02.31M1.11M1.54M318K258K383K4.33M966K823K
Total Assets+28.15M6.46M29.06M19.07M8.7M70.42M117.91M58.09M72.83M49.12M
Asset Turnover----1.11x0.14x0.01x---
Asset Growth %-0.42%-0.77%3.5%-0.34%-0.54%7.09%0.67%-0.51%0.25%-0.33%
Total Current Liabilities+1.28M36.16M6.08M6.45M1.57M1.8M9.99M3.12M12.68M14.08M
Accounts Payable2.05M3.23M2.62M3.58M654K730K4.19M1.54M6.46M4.74M
Days Payables Outstanding-47.09K19.94K26.66K52.3954.02--5.53K-
Short-Term Debt3.14M30.27M00000000
Deferred Revenue (Current)-1000K000000000
Other Current Liabilities-4.39M0000008K2.78M0
Current Ratio21.83x0.11x4.55x2.69x3.50x37.37x11.70x17.07x5.64x3.41x
Quick Ratio21.83x0.11x4.55x2.69x3.09x36.83x11.70x16.62x5.64x3.41x
Cash Conversion Cycle----76.3591.59----
Total Non-Current Liabilities+070.53M11.86M3.45M1.4M1.21M37K331K00
Long-Term Debt0000000000
Capital Lease Obligations0000769K524K37K256K00
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities070.53M11.86M3.45M632K685K075K00
Total Liabilities1.28M6.46M17.95M9.9M2.98M3.01M10.02M3.45M12.68M14.08M
Total Debt+3.14M30.27M001M776K469K524K262K266K
Net Debt-17.83M29.48M-25.74M-16.28M-1.39M-63.05M-114.45M-20.47M-70.38M-46.98M
Debt / Equity0.12x---0.18x0.01x0.00x0.01x0.00x0.01x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage-1171.61x-22.32x-267.37x-1618.47x-151.13x-88.36x-1010.39x-1051.17x--
Total Equity+26.87M-100.23M11.12M9.18M5.72M67.41M107.89M54.64M60.14M35.05M
Equity Growth %-0.42%-4.73%1.11%-0.17%-0.38%10.78%0.6%-0.49%0.1%-0.42%
Book Value per Share15.75-106.7112.106.372.5311.3612.574.832.940.93
Total Shareholders' Equity26.87M-100.23M11.12M9.18M5.72M67.41M107.89M54.64M60.14M35.05M
Common Stock47K012K15K69K142K88K142K26K38K
Retained Earnings-89.3M-100.67M-130.4M-153.53M-87.94M-91.33M-263.57M-105.93M-399.58M-467.37M
Treasury Stock0000000000
Accumulated OCI-498K294K-268K302K00-267K0106K-120K
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-19.58M-25.34M-22.14M-26.03M-26.9M-25.96M-35.16M-49.04M-43.75M-60.3M
Operating CF Margin %-----2.78%-2.58%-23.44%---
Operating CF Growth %-0.09%-0.29%0.13%-0.18%-0.03%0.04%-0.35%-0.4%0.11%-0.38%
Net Income-21.1M-25.63M-29.73M-23.14M-32.9M-27.51M-40.59M-54.6M-81.41M-67.56M
Depreciation & Amortization474K25K48K49K47K34K29K16K15K5K
Stock-Based Compensation1.72M45K5.6M3.47M3.89M2.62M3.48M5.18M5.13M5.5M
Deferred Taxes370K0-158K20K00379K000
Other Non-Cash Items14K1.23M-194K-7.3M729K-104K527K1.01M30.01M457K
Working Capital Changes-1.05M-1.01M2.29M871K1.33M-990K1.01M-651K2.51M1.29M
Change in Receivables0-3.05M1.46M780K643K117K-1.16M-1.01M1.3M0
Change in Inventory0000001.16M000
Change in Payables02.27M1.09M368K003.9M0712K902K
Cash from Investing+29.69M-144K-64K0-85K25K0048.97M0
Capital Expenditures-12K-144K-64K0-100K00000
CapEx % of Revenue----0.01%-----
Acquisitions----------
Investments----------
Other Investing9K0-64K015K25K00-1.39M0
Cash from Financing+16K25.62M47.76M15.91M14.82M74M98.03M-210K-30K37.18M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-8.25M-282K-2.15M872K-437K-1.51M813K-210K-1K-2.81M
Net Change in Cash----------
Free Cash Flow+-19.59M-25.48M-22.2M-26.03M-27M-25.96M-35.16M-49.04M-43.75M-60.3M
FCF Margin %-----2.79%-2.58%-23.44%---
FCF Growth %-0.07%-0.3%0.13%-0.17%-0.04%0.04%-0.35%-0.4%0.11%-0.38%
FCF per Share-11.49-27.13-24.16-18.06-11.96-4.38-4.10-4.33-2.14-1.61
FCF Conversion (FCF/Net Income)0.93x0.99x0.74x1.13x7.81x7.66x0.87x0.90x0.54x0.89x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-57.75%--267.4%-228.05%-46.26%-9.26%-46.31%-67.18%-141.86%-141.94%
Return on Invested Capital (ROIC)-71.27%-----59.48%--308.35%-545.53%-
Gross Margin----52.93%50.94%100%---
Net Margin-----35.6%-33.69%-2705.8%---
Debt / Equity0.12x---0.18x0.01x0.00x0.01x0.00x0.01x
Interest Coverage-1171.61x-22.32x-267.37x-1618.47x-151.13x-88.36x-1010.39x-1051.17x--
FCF Conversion0.93x0.99x0.74x1.13x7.81x7.66x0.87x0.90x0.54x0.89x
Revenue Growth-----3.85%-85.08%-100%--

Revenue by Segment

20202021
License1.5M1.5M
License Growth-0.00%
Royalty--
Royalty Growth--

Frequently Asked Questions

Growth & Financials

Cypherpunk Technologies Inc. (CYPH) reported $0.4M in revenue for fiscal year 2024.

Cypherpunk Technologies Inc. (CYPH) grew revenue by 0.0% over the past year. Growth has been modest.

Cypherpunk Technologies Inc. (CYPH) reported a net loss of $98.2M for fiscal year 2024.

Dividend & Returns

Cypherpunk Technologies Inc. (CYPH) has a return on equity (ROE) of -141.9%. Negative ROE indicates the company is unprofitable.

Cypherpunk Technologies Inc. (CYPH) had negative free cash flow of $62.8M in fiscal year 2024, likely due to heavy capital investments.

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