Global Biotech Weekly

This week, we highlight key Phase 3 catalysts of biotech companies expected over the next six months. Gyre Therapeutics Inc. (NASDAQ: GYRE) has a market cap of US$846M, with cash reserves of approximately US$75.3 million. The company has yet to generate product revenue and reported a modest net loss Hydronidone is in a fully enrolled Phase 3 trial (NCT05115942) for chronic hepatitis B-associated liver fibrosis in China. This antifibrotic agent targets TGF-β signaling, a central pathway in fibro Mineralys Therapeutics Inc. (NASDAQ: MLYS) is a mid-cap biotech with a market cap of US$719M and roughly US$294 million in cash. The company’s lead candidate is lorundrostat, a selective aldosterone Lorundrostat is being evaluated in uncontrolled and resistant hypertension in the Launch-HTN Phase 3 trial. Topline data showed statistically significant reductions in systolic blood pressure with t PolyPid Ltd. (NASDAQ: PYPD) has a market cap of US$27.8M and is focused on developing localized drug-delivery systems to prevent surgical site infections. The company operates with limited cash and D-PLEX100 is being studied in the SHIELD II Phase 3 trial to prevent abdominal surgical site infections. The trial completed enrollment as of March 2025, with topline data expected in Q2 2025. The p Lyra Therapeutics Inc. (NASDAQ: LYRA) is a micro-cap biotech (US$9.3M market cap) developing therapies for chronic rhinosinusitis. The company operates with significant cash constraints and has repo