Earnings Releases·Nov 12, 2026, 7:07 AM ET

Yarrow Bioscience — Third Quarter 2026 Earnings Summary

**Financial Position & Capital:** Cash and cash equivalents surged to $268.9 million from $99.994 million following a September 2026 public offering that generated ~$172.5 million; stockholders' equity turned positive to $267.5 million from a $71.0 million deficit, while convertible preferred stock was fully redeemed.
**Operational Results:** The company reported a net loss of $9.7 million for the quarter and $19.0 million for the nine months ended September 30, 2026, with total operating expenses of $10.7 million and $20.3 million respectively.
**Strategic Milestones:** The merger with VYNE Therapeutics was completed in July 2026, and the DIRECTION-GD trial for YB-101 advanced to dosing the first patient in the Phase 2a portion.
**Future Outlook & Guidance:** Cash resources are sufficient to fund operations through 2030; topline results for the Phase 2a DIRECTION-GD trial and GenSci Phase 1 data are anticipated in the second half of 2027, with Phase 2b enrollment expected in the first half of 2028.