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Korsana Biosciences (KRSA) earnings and revenue breakdown
Latest: Q4 2025 · 10-K filed Mar 30, 2026 · Korsana Biosciences (KRSA) Q4 2025 earnings results →
Q4 2025 Revenue down 43% year over year to $1.0M · 78¢ of every $1 of revenue lost · operating margin -81.8%
Korsana Biosciences made $1.0M in Q4 2025 (-43% Y/Y). Operating margin -81.8%, net loss $799K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Mar 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.0M in Q4 2025, down 43% year over year and up 17% from the previous quarter.
Operating costs exceeded revenue by $838K, an operating margin of -81.8%. Total costs grew 43% against a revenue fall of 43%. The fastest-growing cost line was Research & development (+827%). The quarter ended with a net loss of $799K, narrower than the previous quarter's $1.0M loss.
Operating cash flow was −$1.6M. Non-cash charges added back $95K of share-based compensation. Working capital and other items used $875K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q4 2025 | 10-K | Mar 30, 2026 | $1.0M | -43% | -81.8% | −$799K | −$1.6M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $875K | +351% | -115.0% | −$976K | −$264K |
| Q2 2025 | 10-Q | Aug 5, 2025 | $93K | — | n/m | −$324K | −$503K |
| Q1 2025 | 10-Q | May 6, 2025 | $81K | — | n/m | −$1.4M | −$968K |
| Q4 2024 | 10-K | Mar 4, 2025 | $1.8M | — | 27.8% | $530K | $360K |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Korsana Biosciences
We focus on building a pipeline of innovative therapeutics to address serious neuropsychiatric disorders with significant unmet medical need. Our current strategic focus is centered on the development of a novel therapeutic approach for neuropsychiatric conditions, with the lead indication being treatment-resistant depression (“TRD”), which we believe represents a substantial clinical and commercial opportunity. Over the past year, we have refined our strategic direction toward programs that combine established pharmacologic agents with enabling technologies designed to improve precision, reproducibility, and patient outcomes. As part of this strategy, Cyclerion has evaluated multiple opportunities and prioritized CYC-126, an individualized therapy for TRD as our foundational development program.
In its own words, from its 10-K, filed Mar 30, 2026.
Korsana Biosciences against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -43% against the peers' median +7%. Operating margin: -81.8% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| KRSA Korsana Biosciences | Q4 2025 | $1.0M | -43% | -81.8% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Korsana Biosciences 10-K on SEC EDGAR · CIK 1755237 · Pharmaceutical Preparations
More on KRSA
History
Every quarter: Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results