PLYX on Nasdaq

Polaryx Therapeutics, Inc.

Polaryx Therapeutics, Inc. is an American pharmaceutical preparations company based in Paramus.2 Its shares trade on Nasdaq under the symbol PLYX.2

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Last updated Oct 20, 2026.

Overview

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  • TickerPLYX on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersParamus, United States2
  • Incorporated inWY3
  • Business address140 East Ridgewood Avenue, Suite 415, South Tower, Paramus, Nj 076523
  • Filer category, Emerging growth company3
  • Legal formProfit Corporation2
  • LEI529900HOCSZB5SQ6D4672
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O Corporation Service Company,112 North Curry Street, 89703 Carson City, United States2
  • Registered withBusiness Center (Secretary of State), E52650742025-82

PLX-200’s potential to become the standard of care across multiple LSDs. Our drug candidate pipeline includes:4 From its latest annual report

Financials

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

Financial statements

Operating income5-$7.8M in 2025+80% since 2024
-$8.0M-$6.0M-$4.0M-$2.0M02024: -$4.4M-$4.4M20242025: -$7.8M-$7.8M2025+80%
Net income5-$9.0M in 2025−70% since 2024
-$40.0M-$30.0M-$20.0M-$10.0M02024: -$30.4M-$30.4M20242025: -$9.0M-$9.0M2025−70%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Research and development expenses$6.3M$2.8M
General and administrative expenses$1.6M$1.5M
Total operating expenses$7.8M$4.4M
Operating loss-$7.8M-$4.4M
Other expense direct listing offering costs-$1.2M
Other expense recapitalization of common stock-$26.0M
Net loss and comprehensive loss-$9.0M-$30.4M
Net loss per share basic-$0.20-$0.89
Net loss per share diluted-$0.20-$0.89
Weighted average common shares outstanding basic45.4M shares34.2M shares
Weighted average common shares outstanding diluted45.4M shares34.2M shares

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Corporate structure

Polaryx Therapeutics, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Polaryx Therapeutics, Inc.

  • Mstone Partners Healthcare Ltd Filed SCHEDULE 13D on Polaryx Therapeutics, Inc., latest Feb 5, 2026
  • Polaryx Therapeutics, Inc. Paramus, New Jersey, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Polaryx Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.1M5 Dec 31, 2025$4.6M5 Dec 31, 2024+11.3%

Properties, in its own words

Our corporate headquarters are located in Paramus, New Jersey, where we lease office space under a month-to-month lease. We believe that our existing facility is adequate to meet our current needs, and that suitable additional alternative spaces will be available in the future on commercially reasonable terms should we seek to negotiate new leases or evaluate additional or alternate space for our operations.

Item 2 of the 10-K filed Mar 24, 2026.4

Leadership

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

Chief financial officer

  1. G. Michael Landis2026–now
Board members and other officers (6)

Timeline

  1. Sep 14, 20268-K Shareholder vote14
  2. Sep 1, 20268-K Regulation FD disclosure; Other events15
  3. Jul 21, 20268-K Executive or director change16
  4. Jul 17, 20268-K Director nominations; Other events17
  5. May 28, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure18
  6. Jan 29, 2026New chief executive Alex Keun Mo Yang becomes CEO8
  7. Oct 24, 2025Founded Polaryx Therapeutics, Inc. is founded2

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202619

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

35 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 5 major events, 9 insider forms, 1 large holders, 17 other. The latest 20:

  1. Sep 14, 20268-K CURRENT REPORT EDGAR
  2. Sep 1, 20268-K CURRENT REPORT EDGAR
  3. Aug 13, 202610-Q QUARTERLY REPORT EDGAR
  4. Jul 28, 2026ARS EDGAR
  5. Jul 28, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
  6. Jul 28, 2026DEF 14A PROXY STATEMENT EDGAR
  7. Jul 24, 2026S-8 REGISTRATION STATEMENT EDGAR
  8. Jul 21, 20268-K CURRENT REPORT EDGAR
  9. Jul 17, 20268-K CURRENT REPORT EDGAR
  10. May 28, 20264 EDGAR
  11. May 28, 20268-K CURRENT REPORT EDGAR
  12. May 15, 202610-Q QUARTERLY REPORT EDGAR
  13. Mar 24, 202610-K ANNUAL REPORT EDGAR
  14. Feb 20, 20264 EDGAR
  15. Feb 5, 2026SCHEDULE 13D EDGAR
  16. Feb 2, 2026424B4 PROSPECTUS EDGAR
  17. Jan 29, 2026EFFECT EDGAR
  18. Jan 29, 20263 OWNERSHIP DOCUMENT EDGAR
  19. Jan 29, 20263 OWNERSHIP DOCUMENT EDGAR
  20. Jan 29, 20263 OWNERSHIP DOCUMENT EDGAR

The 35 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: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 27, 2026Mstone Partners Healthcare LtdDirectorBuy88,453$4.07$360.0KForm 4
Feb 18, 2026Landis G. MichaelChief Financial OfficerBuy2,867$2.79$8.0KForm 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.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Alex Yang$792.0K21
2025Lisa Bollinger$62.5K$482.5K21
2025G. Michael Landis$46.7K$310.7K21
2024Chief Executive Officer$580.0K21
2024Chief Financial Officer$87.0K21

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC1,657,872$4.4M0.0%−516
Geode Capital Management, LLC170,998$455.1K0.0%+325
Vanguard Fiduciary Trust Co105,072$279.5K0.0%+516
State Street Corp58,104$154.6K0.0%No change
BlackRock, Inc.41,012$109.1K0.0%No change
Jane Street Group, LLC31,441$83.6K0.0%New
Northern Trust Corp27,987$74.4K0.0%No change
Allworth Financial LP7,727$20.6K0.0%New
Vanguard Global Advisers, LLC6,318$16.8K0.0%No change
Tower Research Capital LLC (TRC)3,002$8.0K0.0%+1,221
UBS Group AG1,283$3.4K0.0%−12,196
Fortitude Family Office, LLC189$5030.0%New
Hrt Financial LP82,094$2180.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Polaryx Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPolaryx Therapeutics, Inc.1
  • CIK0002075320
  • Employer ID (EIN)47-33936594
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address140 East Ridgewood Avenue, Suite 415, South Tower, Paramus, NJ 076521
  • Mailing addressSouth Tower, 140 E Ridgewood Avenue, Suite 415, Paramus, NJ 076521
  • Phone201-940-72361
  • Shares outstanding49,845,993 as of Jul 31, 20266
  • Public float$0 as of Jun 30, 20255
  • AuditorGRANT THORNTON LLP, Edison, New Jersey PCAOB ID 248; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 5, 20251
  • Filings35 in all: 3 (7), 8-K (5), 10-Q (2), 4 (2), C-U (2), S-1/A (2), 10-K (1), 424B4 (1)1
    All 21 form types

    8-A12B (1), ARS (1), C (1), C/A (1), CERT (1), DEF 14A (1), DEFA14A (1), DRS (1), DRS/A (1), EFFECT (1), S-1 (1), S-8 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 24, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jul 28, 2026
    Latest 8-K (8-K) Sep 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per sharePLYXNasdaq

From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Polaryx Therapeutics, Inc. names in Item 1A of its 10-K filed Mar 24, 2026: 73 risks under these headings, as written.4

  • Risks Related to Our Limited Operating History, Financial Position and Capital Requirements
  • We have a limited operating history and have no products approved for commercial sale, and our results may vary from quarter to quarter. We have incurred net losses since our inception, we expect to incur significant and increasing operating losses and we may never be profitable.
  • We will require substantial additional capital to finance our operations in the future. If we are unable to raise such capital when needed, or on acceptable terms, we may be forced to delay, reduce or eliminate clinical trials, product development programs or future commercialization efforts.
  • We have incurred significant losses since inception, expect to incur significant losses for the foreseeable future and may not be able to achieve or sustain profitability in the future. We have no products for sale, have not generated any product revenue and may never generate product revenue or become profitable.
  • Risks Related to Discovery, Development and Commercialization
  • We face competition from entities that have developed or may develop programs for the diseases we plan to address with PLX-200 and other drug candidates in development.
  • PLX-200 and our preclinical programs may fail in development or suffer delays that materially and adversely affect their commercial viability. If we or our current or future collaborators are unable to complete development of, or commercialize, our drug candidates, or experience significant delays in doing so, our business will be materially harmed.
  • We intend to identify and develop novel drug candidates, which makes it difficult to predict the time, cost and potential success of drug candidate development.
  • The disorders we seek to treat have low prevalence and it may be difficult to identify and enroll patients with these disorders. If we experience delays or difficulties in the enrollment and/or maintenance of patients in clinical trials, our receipt of necessary regulatory approvals could be delayed or prevented.
  • We are substantially dependent on the success of our most advanced drug candidate, PLX-200, and our clinical trials of PLX-200 may not be successful.
  • Our programs are focused on the development of therapeutics for patients with rare, pediatric lysosomal storage disorders, which is a rapidly evolving area of science, and the approach we are taking to discover and develop drug candidates is novel and may never lead to approved or marketable products.
  • If we do not achieve our projected development goals in the timeframes we announce and expect, the commercialization of PLX-200 or any other drug candidates may be delayed and, as a result, our stock price may decline.
The other 62 risks
  • Preclinical and clinical development involves a lengthy and expensive process that is subject to delays and uncertain outcomes, and results of earlier studies and trials may not be predictive of future clinical trial results. If our preclinical studies and clinical trials are not sufficient to support regulatory approval of any of our drug candidates, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development of such drug candidate.
  • Preliminary, “topline” or interim data from our preclinical studies and clinical trials that we announce or publish from time to time may change as more patient data becomes available and are subject to audit and verification procedures.
  • Our current or future clinical trials may reveal significant adverse events or undesirable side effects not seen in our preclinical studies and may result in a safety profile that could halt clinical development, inhibit regulatory approval or limit commercial potential or market acceptance of PLX-200 or any other drug candidates or result in potential product liability claims.
  • We may expend our limited resources to pursue a particular drug candidate, such as PLX-200 and PLX-300, and fail to capitalize on candidates that may be more profitable or for which there is a greater likelihood of success.
  • Even if regulatory approval is obtained, PLX-200 or any other drug candidate may not achieve adequate market acceptance among clinicians, patients, healthcare third-party payors and others in the medical community necessary for commercial success and we may not generate any future revenue from the sale or licensing of such products.
  • We have never commercialized a drug candidate and may lack the necessary expertise, personnel and resources to successfully commercialize a drug candidate on our own or together with suitable collaborators.
  • We have never completed any late-stage clinical trials and may not be able to file an IND application or other applications for regulatory approval to commence additional clinical trials on the timelines we expect. Even if we are able to complete such trials, the FDA or comparable foreign regulatory authorities may not permit us to proceed or could suspend or terminate any such trial after it has been initiated.
  • Development of combination therapies may present more or different challenges than development of monotherapies.
  • Risks Related to Manufacturing
  • Gene therapies are novel, complex and difficult to manufacture. We could experience manufacturing problems that result in delays in the development or commercialization of our drug candidates or otherwise harm our business.
  • We and our contract manufacturers are subject to significant regulation with respect to manufacturing of our products. The third-party manufacturing facilities on which we rely and any manufacturing facility that we may have in the future may have limited capacity or fail to meet the applicable stringent regulatory requirements.
  • We depend on third-party suppliers for materials used in the manufacture of our drug candidates, and the loss of these third-party suppliers or their inability to supply us with adequate materials could harm our business.
  • Any contamination or interruption in our manufacturing process, shortages of raw materials or failure of our suppliers to deliver necessary components could result in delays in our clinical development or marketing schedules.
  • We may not be able to successfully manufacture our drug candidates in sufficient quality and quantity, which would delay or prevent us from developing our drug candidates and commercializing resulting approved products, if any.
  • Changes in methods of drug candidate manufacturing or formulation may result in additional costs or delay.
  • Risks Related to Our Reliance on Third Parties
  • We currently rely, and intend in the future to rely, on third parties to conduct a significant portion of our preclinical studies and existing clinical trials and potential future clinical trials for drug candidates, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials.
  • Risks Related to Our Business and Operations
  • In order to successfully implement our plans and strategies, we will need to grow the size of our organization and we may experience difficulties in managing this growth.
  • We are highly dependent on our key personnel and anticipate hiring new key personnel. If we are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • Our future growth may depend, in part, on our ability to operate in foreign markets, where we would be subject to additional regulatory burdens and other risks and uncertainties.
  • Our employees, independent contractors, consultants, commercial collaborators, principal investigators, CROs, CDMOs, suppliers and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Our systems, or those of any of our CROs, manufacturers, other contractors, third-party service providers or consultants or potential future collaborators, may fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data or personal data, which could result in additional costs, loss of revenue, significant liabilities, harm to our brand and material disruption of our operations.
  • We are subject to stringent and changing laws, regulations and standards, and contractual obligations relating to privacy, data protection, and data security. The actual or perceived failure to comply with such obligations could lead to government enforcement actions (which could include civil or criminal penalties), fines and sanctions, private litigation, injunctive restrictions on data processing and/or adverse publicity and could negatively affect our operating results and business.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
  • We may acquire businesses or products, or form strategic alliances, in the future, and may not realize the benefits of such acquisitions.
  • We maintain our cash at financial institutions, at times in balances that exceed federally-insured limits. The failure of financial institutions could adversely affect our ability to pay our operational expenses or make other payments.
  • There is substantial doubt about our ability to continue as a going concern.
  • We previously identified a material weakness in our information technology general controls that has since been remediated. If we experience additional material weaknesses in the future or otherwise fail to maintain an effective system of internal controls in the future, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence in us and, as a result, the value of our common stock.
  • The dual roles of our directors who also serve in similar roles with Mstone could create a conflict of interest and will require careful monitoring by our independent directors.
  • Risks Related to Intellectual Property
  • Our ability to protect our patents and other proprietary rights is uncertain, exposing us to the possible loss of competitive advantage.
  • We may not be successful in obtaining or maintaining necessary rights to drug candidates through acquisitions and in-licenses.
  • Certain of our current drug candidates and research programs are licensed from or based upon licenses from a third party and are field limited to certain indications. If these license agreements are terminated or interpreted to narrow our rights, our ability to advance our current drug candidates or develop new drug candidates based on these technologies will be materially adversely affected.
  • If we fail to comply with our obligations in any agreements under which we may license intellectual property rights from third parties or otherwise experience disruptions to our business relationships with our licensors, we could lose license rights that are important to our business.
  • We may be subject to patent infringement claims or may need to file claims to protect our intellectual property, which could result in substantial costs, liability and diversion of resources, and prevent or delay us from commercializing potential products.
  • We may be subject to claims that we have wrongfully hired an employee from a competitor or that employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • Changes to patent laws in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Obtaining and maintaining patent protection depends on compliance with various procedural, document submissions, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market our products.
  • We may become subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • Patent terms may be inadequate to protect our competitive position on our drug candidates for an adequate amount of time.
  • Some intellectual property that we have in-licensed may have been discovered through government-funded programs and thus may be subject to federal regulations such as “march-in” rights, certain reporting requirements and a preference for U.S.-based companies. Compliance with such regulations may limit our exclusive rights, and limit our ability to contract with non-U.S. manufacturers.
  • Risks Related to Government Regulation
  • The regulatory approval processes of the FDA and other comparable foreign regulatory authorities are lengthy, time-consuming and inherently unpredictable. If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals for our drug candidates, or if we determine that we are not willing or able to complete the regulatory approval process given the resources required to do so, we will not be able to commercialize, or will be delayed in commercializing, such drug candidates, and our ability to generate revenue will be materially impaired.
  • Because gene therapy is novel and the regulatory landscape that governs any drug candidates we may develop is rigorous, complex, uncertain and subject to change, we cannot predict the time and cost of obtaining regulatory approval, if received at all, for any drug candidates we may develop.
  • Disruptions at the FDA and other government agencies and regulatory authorities could negatively affect the review of our regulatory submissions or impact our ability to access the public markets, which could negatively impact our business.
  • We may not be able to meet requirements for the chemistry, manufacturing and control of our drug candidates.
  • We may in the future conduct clinical trials for our drug candidates at sites outside the United States, and the FDA may not accept data from trials conducted in such locations.
  • Our drug candidates for which we intend to seek approval as biologics may face competition sooner than anticipated.
  • Even if we receive regulatory approval of PLX-200 or other drug candidates, we will be subject to extensive ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our drug candidates.
  • We may face difficulties from healthcare legislative reform measures.
  • Our business operations and current and future arrangements with investigators, healthcare professionals, consultants, third-party payors, patient organizations and customers will be subject to applicable healthcare regulatory laws, which could expose us to penalties.
  • Even if we are able to commercialize PLX-200 or other drug candidates, due to unfavorable pricing regulations and/or third-party coverage and reimbursement policies, we may not be able to offer such products at competitive prices which would seriously harm our business.
  • We are subject to U.S. and certain foreign export and import controls, sanctions, embargoes, anti-corruption laws, and anti-money laundering laws and regulations. We can face criminal liability and other serious consequences for violations, which can harm our business.
  • Governments outside the United States may impose strict price controls, which may adversely affect our revenue, if any.
  • While we have received Fast Track designation for PLX-200 for the treatment of Juvenile Neuronal Ceroid Lipofuscinosis, such designation may not lead to a faster development or regulatory review or approval process.
  • We may seek certain designations for our drug candidates, including Breakthrough Therapy and Priority Review designations by the FDA, however, even if we receive such designations, there is no guarantee that they would lead to faster development or regulatory review timelines or increase the likelihood of marketing approval for such drug candidate.
  • We have received orphan drug designation for PLX-200, PLX-300 and PLX-100 and we may seek orphan drug designation for certain future drug candidates, but we may be unable to obtain such designations or to maintain the benefits associated with orphan drug designation, including market exclusivity, which may cause our revenue, if any, to be reduced.
  • We have received Rare Pediatric Disease designation by the FDA for PLX-300 for the treatment of GM2 gangliosidosis, Krabbe disease, and NPD type A and type B. However, Rare Pediatric Disease designation for any of our drug candidates does not guarantee that the BLA or NDA for the product will qualify for a priority review voucher upon approval, and it does not lead to a faster development or regulatory review process, or increase the likelihood that our drug candidates will receive marketing approval.
  • Where appropriate, we plan to pursue approval from the FDA through the use of accelerated approval pathways. If we are unable to obtain such approval, we may be required to conduct additional preclinical studies or clinical trials beyond those that we contemplate, which could increase the expense of obtaining, and delay the receipt of, necessary marketing approvals. Even if we receive accelerated approval from the FDA, if our confirmatory trials do not verify clinical benefit, or if we do not comply with rigorous post-marketing requirements, the FDA may seek to withdraw accelerated approval.
  • General Risk Factors
  • Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business may not grow at similar rates, or at all.
  • We may become exposed to costly and damaging liability claims, either when testing a drug candidate in the clinical or at the commercial stage, and our product liability insurance may not cover all damages from such claims.
  • Litigation costs and the outcome of litigation could have a material adverse effect on our business.
  • Our business could be adversely affected by economic downturns, inflation, fluctuating interest rates, natural disasters, public health crises, political crises, geopolitical events, or other macroeconomic conditions, which could have a material and adverse effect on our results of operations and financial condition.

Legal proceedings

We are not party to any material legal proceedings at this time. From time to time, we may become involved in various legal proceedings that arise in the ordinary course of our business. Regardless of outcome, litigation can have an adverse impact on us due to defense and settlement costs, diversion of management resources, negative publicity, reputational harm and other factors, and there can be no assurances that favorable outcomes will be obtained.

The opening of Item 3, Legal Proceedings.4