On September 8, 2026, Cyclerion Therapeutics, Inc. consummated its business combination with Korsana Biosciences, Inc., renaming the combined entity to Korsana Biosciences, Inc. and changing its Nasdaq trading symbol from CYCN to KRSA. Prior to the merger closing, Cyclerion effected a 1-for-7 reverse stock split effective September 8, 2026. The transaction involved an exchange ratio of 0.2074 shares of new common stock for each share of Korsana common stock, resulting in Korsana securityholders owning approximately 98.83% of the post-merger company on a fully diluted basis. Concurrently, Korsana completed a pre-closing financing (PIPE) raising approximately $380.0 million by issuing 140,516,748 shares and 20,171,986 pre-funded warrants. The merger agreement included the assumption of Korsana options and warrants, cancellation of certain Cyclerion in-the-money options for cash consideration, and the issuance of Contingent Value Rights (CVRs) to legacy Cyclerion shareholders tied to the disposition of legacy assets. Key executive changes included the appointment of Jonathan Violin as CEO and Mark Vignola as CFO, while former Cyclerion executives resigned. The company operates in the biopharmaceutical industry.