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Yarrow Bioscience Announces Closing of Merger with VYNE Therapeutics and Initiation of Dosing in Phase 2a/2b Trial of YB-101, a Potential First-in-Class Treatment for Graves’ Disease and Thyroid Eye Disease

YARW
  • Yarrow Bioscience completed its merger with VYNE Therapeutics and expects combined shares to trade on Nasdaq under ticker "YARW" starting July 28, 2026.
  • The company raised approximately $200 million in private financings led by RTW Investments to fund operations through 2028.
  • Lead candidate YB-101 is a first-in-class anti-TSHR monoclonal antibody designed to treat both Graves' disease (GD) & thyroid eye disease (TED) by blocking the TSHR mechanism.
  • Dosing has commenced in the Phase 2a/2b GD trial following FDA Fast Track Designation, with Phase 2a data expected in the second half of 2027.
  • Partner GenSci is conducting Phase 1 trials in China, with MAD trial data for TED patients also anticipated in the second half of 2027.
  • YB-101 is administered subcutaneously with potential for infrequent dosing & future autoinjector presentation.
  • The Phase 2a trial is a randomized, blinded, placebo-controlled study of 32 patients evaluating safety, pharmacokinetics, pharmacodynamics, & efficacy over 24 weeks.
  • Phase 2b dose-finding is planned to enroll approximately 200 patients & commence in the first half of 2028.
  • Post-merger, the combined company has approximately 2.8 million shares outstanding (33.6 million fully diluted) following a 1-for-50 reverse stock split of VYNE shares.
  • VYNE distributed a special cash dividend of $17.3 million ($0.40242 per share) to stockholders on July 23, 2026, prior to the merger completion.
  • Leadership includes CEO Rebecca V. Frey, COO Rachael Alford, CDO Lori Payton, CMO Steve Ryder, & CFO Tyler Zeronda.