KRSA on Nasdaq

Korsana Biosciences, Inc.

We focus on building a pipeline of innovative therapeutics to address serious neuropsychiatric disorders with significant unmet medical need.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerKRSA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersWaltham, Massachusetts1
  • Incorporated inMA2
  • Business address203 Crescent Street, Bldgs. #3/3A/4, Suite 503, Waltham, Ma 024532
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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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.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-239.8%Operating margin4
-170.1%Net margin4
3.7%Revenue growth, 20254
-38.8%Return on equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

License Agreement brought in 48% of the revenue Korsana Biosciences, Inc. broke down this way in fiscal 2025.

  1. License Agreement$1.0M448%down 43% from 2024
  2. Purchase agreement$800.0K439%
  3. Option Agreement$274.0K413%up 10% from 2024
Products and services by year
Products and services202320242025
License Agreement$0$1.8M$1.0M
Purchase agreement$0$800.0K
Option Agreement$250.0K$274.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development46¢$959.0K
  • Other costs54¢$1.1M

Out of $2.1M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$2.1M in 2025−54% since 2019
0$2.0M$4.0M$6.0M2019: $4.5M$4.5M20192020: $2.3M$2.3M2020−49%2021: $3.9M$3.9M2021+72%2022: $297.0K$297.0K2022−92%2023: $0$020232024: $2.0M$2.0M20242025: $2.1M$2.1M2025+4%
Operating income596784-$5.0M in 2025−96% since 2019
-$150.0M-$100.0M-$50.0M02019: -$125.0M-$125.0M20192020: -$81.3M-$81.3M2020−35%2021: -$55.2M-$55.2M2021−32%2022: -$18.5M-$18.5M2022−66%2023: -$13.0M-$13.0M2023−30%2024: -$3.6M-$3.6M2024−72%2025: -$5.0M-$5.0M2025+37%
Net income596784-$3.5M in 2025−97% since 2019
-$150.0M-$100.0M-$50.0M02019: -$123.0M-$123.0M20192020: -$77.8M-$77.8M2020−37%2021: -$51.6M-$51.6M2021−34%2022: -$44.1M-$44.1M2022−15%2023: -$5.3M-$5.3M2023−88%2024: -$3.1M-$3.1M2024−42%2025: -$3.5M-$3.5M2025+15%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Total revenues$2.1M$2.0M
Research and development$959.0K$286.0K
General and administrative$6.1M$5.3M
Total cost and expenses$7.0M$5.6M
Loss from operations-$5.0M-$3.6M
Interest income$128.0K$208.0K
Gain from settlement of account payable$0$363.0K
Total other income, net$1.4M$571.0K
Gain from insurance recovery$1.3M$0
Net loss per share - Basic-$1.11-$1.21
Net loss per share - Diluted-$1.11-$1.21
Basic shares3.2M shares2.5M shares
Diluted shares3.2M shares2.5M shares
Net loss-$3.5M-$3.1M
Foreign currency translation adjustment loss$0-$6.0K
Comprehensive loss-$3.5M-$3.1M

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Leadership

Who has led Korsana Biosciences, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Peter M. Hecht2019–2023

President

  1. William Huyett2019
  2. Mark G. Currie2019–2020
  3. Regina Margaret Graul2023–2024

Chief financial officer

  1. William Huyett2019–2020
  2. Anjeza Gjino2021–2022
  3. Rhonda M. Chicko2024–2026
  4. Mark J. Vignola2026–now

Chief operating officer

  1. Cheryl Gault2021–2022
20202025
Board members and other officers (27)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorErrol M. De Souza named May 25, 202343

Former names

  • Cyclerion Therapeutics, Inc.Oct 9, 2018 to Aug 27, 20262

Timeline

  1. Apr 3, 2019New chief executive Peter M. Hecht becomes CEO13

Filings

195 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 42 major events, 50 insider forms, 36 large holders, 1 private raises, 44 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13G/A EDGAR
  2. Oct 15, 2026DEF 14A EDGAR
  3. Oct 7, 2026SCHEDULE 13G/A EDGAR
  4. Oct 5, 2026PRE 14A EDGAR
  5. Sep 23, 2026144 EDGAR
  6. Sep 22, 2026144 EDGAR
  7. Sep 18, 2026144 EDGAR
  8. Sep 18, 2026SCHEDULE 13G EDGAR
  9. Sep 16, 2026SCHEDULE 13G EDGAR
  10. Sep 15, 2026SCHEDULE 13D EDGAR
  11. Sep 11, 2026SCHEDULE 13D EDGAR
  12. Sep 11, 20268-K EDGAR
  13. Sep 10, 20264 EDGAR
  14. Sep 10, 20264 EDGAR
  15. Sep 10, 20264 EDGAR
  16. Sep 10, 20264 EDGAR
  17. Sep 10, 20263 EDGAR
  18. Sep 10, 20263 EDGAR
  19. Sep 10, 20263 EDGAR
  20. Sep 10, 20263 EDGAR

The 195 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 21, 2024Greenspan David Gerald10% ownerSale357,880$1.55$554.7KForm 4
Aug 9, 2023MCGUIRE TERRANCEDirectorSale8$3.40$27Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 19, 2023Raised $5 million in a private offering of equity Form D: 1 investor so far Form D

Sources

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