Korsana Biosciences, formerly Cyclerion Therapeutics (CYCN), completed its merger with Korsana and will trade on the Nasdaq Capital Market under the ticker KRSA beginning September 9, 2026.
The combined company also closed a previously announced $380 million private placement and reported approximately $475 million in pro forma cash and cash equivalents as of June 30, 2026, including the financing and net of projected deal costs.
- The private placement generated $380 million in gross proceeds from new and existing investors.
- Korsana expects its cash position to fund operations into 2029.
- Approximately 55.1 million common shares and common-stock equivalents were outstanding following the reverse split, private placement and merger, excluding equity awards.
- Lead program KRSA-028 is being advanced toward the clinic for Alzheimer’s disease.
- Phase 1 healthy-volunteer data for KRSA-028 are expected in mid-2027, with interim proof-of-concept data in Alzheimer’s patients anticipated by year-end 2027 or the first quarter of 2028.
$CYCN Hedge Fund Activity
We have seen 10 institutional investors add shares of $CYCN stock to their portfolio, and 12 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 644,807 shares (+13603.5%) to their portfolio in Q2 2026, for an estimated $2,185,895
- BALYASNY ASSET MANAGEMENT L.P. added 317,511 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,076,362
- ADAR1 CAPITAL MANAGEMENT, LLC added 298,757 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,012,786
- BRAIDWELL LP added 156,890 shares (+inf%) to their portfolio in Q2 2026, for an estimated $531,857
- SIREN, L.L.C. removed 115,603 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $179,184
- TWO SIGMA INVESTMENTS, LP removed 41,555 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $64,410
- GEODE CAPITAL MANAGEMENT, LLC removed 38,700 shares (-45.8%) from their portfolio in Q2 2026, for an estimated $131,193
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
