$EIKN

Eikon Therapeutics, Inc.

CIK:0001861123|SEC Filings

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 75,460	$ 69,189	$ 145,507	$ 125,776
General and administrative	17,934	40,454	35,224	55,250
Total operating expenses	93,394	109,643	180,731	181,026
Loss from operations	(93,394)	(109,643)	(180,731)	(181,026)
Interest income (expense), net	5,037	4,434	9,417	7,594
Other income (expense), net	(52)	(2)	(53)	(22)
Net loss and comprehensive loss	(88,409)	(105,211)	(171,367)	(173,454)
Impact of preferred stock extinguishments and modifications				(9,396)
Net loss attributable to common stockholders	$ (88,409)	$ (105,211)	$ (171,367)	$ (182,850)
Net loss per share attributable to common stockholders, basic	$ (1.63)	$ (36.94)	$ (3.9)	$ (65.08)
Net loss per share attributable to common stockholders, diluted	$ (1.63)	$ (36.94)	$ (3.9)	$ (65.08)
Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, Basic	54,143,162	2,848,529	43,978,373	2,809,691
Weighted-average shares of common stock outstanding used in computing net loss per share attributable to common stockholders, Diluted	54,143,162	2,848,529	43,978,373	2,809,691

Condensed Statements of Cash Flows (Unaudited)	3 Months Ended	6 Months Ended
Condensed Statements of Cash Flows (Unaudited)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)
Operating Activities
Net loss		$ (171,367,000)	$ (173,454,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	$ 4,200,000	10,343,000	7,998,000
Stock-based compensation expense		6,996,000	10,183,000
Amortization of operating lease right-of-use assets		(172,000)	4,776,000
Amortization of premiums and accretion of discounts on marketable securities		(1,216,000)	(3,281,000)
Impairment of operating lease right-of-use assets	(10,300,000)		(10,275,000)
Impairment of property and equipment	10,700,000	0	10,741,000
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		(2,858,000)	(2,420,000)
Other assets		2,717,000	103,000
Accounts payable		5,821,000	(631,000)
Accrued expenses and other current liabilities		(4,923,000)	(702,000)
Operating lease liabilities		(5,100,000)	44,465,000
Other liabilities		5,000,000	4,690,000
Net cash used in operating activities		(154,759,000)	(87,257,000)
Investing Activities
Purchase of property and equipment		(513,000)	(44,074,000)
Purchase of marketable securities		(386,775,000)	(321,406,000)
Proceeds from maturities of marketable securities		230,500,000	115,750,000
Net cash used in investing activities		(156,788,000)	(249,730,000)
Financing Activities
Proceeds from issuance of common stock under stock plans		302,000	550,000
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs			350,203,000
Proceeds from initial public offering, net of issuance costs		349,031,000
Net cash provided by financing activities		349,333,000	350,753,000
Net increase in cash, cash equivalents and restricted cash		37,786,000	13,766,000
Cash, cash equivalents and restricted cash at beginning of period		113,072,000	130,878,000
Cash, cash equivalents and restricted cash at end of period	144,644,000	150,858,000	144,644,000
Cash, cash equivalents and restricted cash at end of period
Cash and cash equivalents	136,564,000	142,613,000	136,564,000
Restricted cash	8,080,000	8,245,000	8,080,000
Cash, cash equivalents and restricted cash at end of period	$ 144,644,000	150,858,000	144,644,000
Supplemental disclosure of cash flow information
Cash paid for interest		8,000	12,000
Cash paid for operating lease liabilities		20,966,000	5,119,000
Supplemental disclosure of non-cash financing and investing activities:
Purchases of property and equipment included in accounts payable and accrued expenses		102,000	279,000
Vesting of early exercised stock options and restricted common stock		$ 35,000	240,000
Operating lease liabilities arising from obtaining right-of-use assets			$ (12,291,000)

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 142,613	$ 104,901
Marketable securities	388,565	231,074
Prepaid expenses and other current assets	15,400	12,542
Restricted cash, current	400	400
Total current assets	546,978	348,917
Property and equipment, net	133,071	142,898
Operating lease right-of-use assets	91,137	90,965
Restricted cash, non-current	7,845	7,771
Other non-current assets	539	4,183
Total assets	779,570	594,734
Current liabilities:
Accounts payable	6,564	681
Accrued expenses and other current liabilities	39,287	44,298
Operating lease liability, current	9,445	10,028
Total current liabilities	55,296	55,007
Operating lease liability, non-current	242,774	247,291
Other non-current liabilities	15,000	10,000
Total liabilities	313,070	312,298
Commitments and contingencies (see Note 7)
Redeemable convertible preferred stock, $0.0001 par value; no shares authorized, issued and outstanding as of June 30, 2026 and 262,597,889 shares authorized, 222,658,133 shares issued and outstanding, and aggregate liquidation preference of $1,159,762 as of December 31, 2025	0	1,161,470
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 50,000,000 shares authorized and no shares issued and outstanding as of June 30, 2026 and no shares authorized, issued and outstanding as of December 31, 2025	0	0
Common stock, $0.0001 par value; 500,000,000 shares authorized and 54,148,887 shares issued and outstanding as of June 30, 2026 and 340,650,000 shares authorized and 3,068,490 shares issued and outstanding as of December 31, 2025	5	0
Additional paid-in capital	1,558,371	41,475
Accumulated deficit	(1,091,876)	(920,509)
Total stockholders' equity (deficit)	466,500	(879,034)
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)	$ 779,570	$ 594,734