secwatch.observer — SEC 8-K summary
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Issuer:     VYNE Therapeutics Inc. (VYNE)
CIK:        0001566044
Form:       8-K/A
Filed at:   2026-08-13T20:14:54+00:00
Accession:  0001104659-26-095925
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566044/000110465926095925/0001104659-26-095925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566044/000110465926095925/tm2622598d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-095925

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer