PYC Therapeutics (ASX:PYC) said its shares were trading at $2.57 in after‑hours trading, up about 0.19%. The company posted a quarterly loss of $0.0233 per share, well above the forecast loss of $7.60 per share, and reported revenue of $28.64 million for the quarter.
Management highlighted progress on its late‑stage pipeline. In a Phase 1/2 study of PYC‑003 for autosomal dominant polycystic kidney disease (ADPKD), 13 of 24 patients have been enrolled in the multiple ascending dose cohort. Patient‑derived models showed restoration of PC1 protein to roughly 85% of wild‑type levels. Dosing at 1.2 mg/kg and 2.4 mg/kg every six weeks maintained 100% exposure above the minimum effective concentration at month four, while single doses sustained 70% and 90% exposure respectively.
The company expects single ascending dose data with four months of follow‑up by Q4 2026‑Q1 2027, and initial efficacy signals for the PKD program by mid‑2027. An IND submission for the Phelan‑McDermid syndrome asset (PYC‑002) is also targeted for mid‑2027. Multiple ascending dose data with 12‑month follow‑up and 12‑month total kidney volume results are anticipated in late 2027, followed by registrational trials for PYC‑003 in 2028. Parallel proof‑of‑concept milestones are planned for PYC‑001 (autosomal dominant optic atrophy) and PYC‑002 in 2028.
Organizational changes were noted in Q2 2026 with the appointment of a new chief financial officer and general counsel, and in Q3 2026 a chief clinical development officer and a program lead for Phelan‑McDermid syndrome joined the team. The company cited a quote from industry veteran Phil Needleman – “the world belongs to finishers” – to underscore its focus on disciplined execution.
Disease prevalence across PYC’s programs ranges from 1 in 1,000 to 1 in 100,000 patients, with ADPKD affecting about 1 in 1,000 people. The firm also referenced a potential dual‑listing structure on the ASX that could commence in 2025, subject to approval.
