Leap Therapeutics Q1 net loss $15.4M; workforce cut ~50%; sirexatamab shows positive Phase 2 data

CYPHERPUNK TECHNOLOGIES INC.

2025-Q1 EPS reported -$0.37 vs consensus -$0.39 ▲ beat (+4.5%)

Net loss of $15.4M in Q1 2025 vs $13.8M in Q1 2024; R&D expense rose to $12.9M.
Cash and equivalents $32.7M at March 31, 2025.
Positive DeFianCe study data: 32% higher ORR and 3.5-month PFS benefit in DKK1-high CRC patients.
Strategic restructuring reduced workforce by ~50% to prioritize sirexatamab and FL-501.
Engaged financial advisor to explore business development for sirexatamab registrational Phase 3.

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