---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-095925"
form_type: "8-K/A"
ticker: "VYNE"
cik: "0001566044"
company_name: "VYNE Therapeutics Inc."
filed_at: "2026-08-13T20:14:54+00:00"
generated_at: "2026-08-13T20:16:24.032489+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Yarrow (fka VYNE) closes reverse merger with YB-101 developer; $100M cash, $71M net loss

## Summary
- Merger closed July 27, 2026: VYNE issued 2,130,731 shares at 0.7171 exchange ratio; 25.6M pre-funded warrants and 2.0M options converted.
- Pre-Merger Yarrow raised $99.85M net via 14,516,188 Series A preferred shares at $6.89/share; cash of $99.99M at Dec 31, 2025.
- Net loss of $70.99M from Oct 3, 2025 inception to Dec 31, 2025, including $70M acquired in-process R&D (upfront license fee to GenSci).
- Lead asset YB-101 (anti-TSHR antibody for Graves' disease) received FDA IND clearance March 2026; Phase 2a/2b trial expected H1 2026.
- Cash of $30M remains after $70M license fee; management says sufficient for 12+ months of operations.

## SEC filing metadata
- accession: 0001104659-26-095925
- form_type: 8-K/A
- ticker: VYNE
- cik: 0001566044
- company_name: VYNE Therapeutics Inc.
- filed_at: 2026-08-13T20:14:54+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566044/000110465926095925/0001104659-26-095925-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566044/000110465926095925/tm2622598d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-095925
- JSON: https://secwatch.observer/filing/0001104659-26-095925.json
- Plain text: https://secwatch.observer/filing/0001104659-26-095925.txt

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