---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-004066"
form_type: "8-K"
ticker: "CYPH"
cik: "0001509745"
company_name: "CYPHERPUNK TECHNOLOGIES INC."
filed_at: "2023-01-17T23:59:59+00:00"
generated_at: "2026-06-20T14:40:54.610693+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Leap Therapeutics acquires Flame Biosciences, gaining FL-301 and ~$50M net cash, combined cash ~$115M

## Summary
- Acquired Flame for ~19.8M shares common + ~136.8k Series X preferred (convertible to 1,000 common each).
- Combined cash ~$115M (incl. ~$50M net from Flame) expected to fund operations to mid-2025.
- Pipeline adds clinical anti-Claudin18.2 antibody FL-301 and preclinical FL-302/FL-501 programs.
- Flame shareholders to own 58% of pro forma shares (as-converted), pending stockholder approval of conversion.
- Board expanded to include Patricia Martin and Christian Richard; existing management remains.

## SEC filing metadata
- accession: 0001104659-23-004066
- form_type: 8-K
- ticker: CYPH
- cik: 0001509745
- company_name: CYPHERPUNK TECHNOLOGIES INC.
- filed_at: 2023-01-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1509745/000110465923004066/0001104659-23-004066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1509745/000110465923004066/tm233557d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-004066
- JSON: https://secwatch.observer/filing/0001104659-23-004066.json
- Plain text: https://secwatch.observer/filing/0001104659-23-004066.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.