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Related Party Transactions - Additional Information (Detail) ¥ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2026 CNY (¥)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Related Party Transaction [Line Items]
Research and development fees			$ 8,351,000		$ 16,442,000
Related Party
Related Party Transaction [Line Items]
Research and development fees		$ 4,836,000		$ 4,836,000
Related Party \| GNI Group
Related Party Transaction [Line Items]
Research and development fees		5,100,000	200,000	5,100,000	200,000
Milestone payment	¥ 33.1			4,900,000
Payments for service		0	$ 0	0	$ 0
Other Receivables		200,000		200,000		$ 200,000
Related Party \| F351 Agreement \| GNI Group
Related Party Transaction [Line Items]
Due to related parties		$ 5,100,000		$ 5,100,000		$ 200,000

- Definition

Amount of liabilities classified as other.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued payroll and welfare	$ 7,247	$ 8,953
Accrued professional services	2,182	352
Payable to property and equipment & intangible asset suppliers	2,311	2,161
Accrued sales rebates	2,826	1,382
Payable to selling expense suppliers	516	270
Accrued expenses - research and development	1,817	1,115
Accrued expenses - general and administrative	903	1,796
Deferred government grants	189	97
Employee reimbursement	100	12
Other accrued liabilities	490	839
Withholding individual income tax on employee stock options	205
Contract liabilities	24	1,184
Accrued expenses and other current liabilities	$ 18,810	$ 18,161

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


2.	Summary of Significant Accounting Policies

Common Control Merger and Retrospective Recast

The Company acquired Cullgen in an all-stock transaction pursuant to which all outstanding shares of Cullgen capital stock were exchanged for shares of the Company’s common stock or Series B Convertible Preferred Stock in accordance with the exchange terms set forth in the Merger Agreement. The Company evaluated the Merger under ASC 805-50 and determined that the Merger is a combination of entities under common control because both the Company and Cullgen were controlled by GNI Japan before and after the Merger and such control was not transitory. The net assets transferred in the Merger were determined to represent a business, as defined under ASC 805-10-55-4, and the Merger resulted in a change in reporting entity, as defined under ASC 250-10-20. The Company was identified as the receiving entity and Cullgen as the transferring entity for accounting purposes. The assets and liabilities transferred were recognized at their historical carrying amounts on the Merger Closing Date. No new basis of accounting or goodwill was recognized in accordance with ASC 805-50.

In accordance with ASC 805-50 and applicable SEC rules and regulations, the historical periods included in the accompanying interim financial statements have been retrospectively recast to reflect the common control transaction. As such, the financial statements for periods prior to the Merger reflect the combined results of the Company and Cullgen as if Cullgen had been part of the Company during the historical periods presented during which the entities were under common control.

The Merger also resulted in the Company acquiring or exchanging Cullgen ownership interests held by parties other than GNI Japan. The Company accounts for the acquisition or exchange of those non-GNI interests as an equity transaction as of the Merger Closing Date. Accordingly, the retrospective recast of historical periods prior to the Merger Closing Date does not give effect to the acquisition or exchange of such non-GNI interests before the date those interests were acquired or exchanged. For those pre-Merger periods, the Company retained and attributed Cullgen’s historical non-GNI ownership interests as noncontrolling interests, including redeemable preferred stock interests classified outside permanent equity when applicable.

The historical financial data of Cullgen included in the historical recast periods has been derived from the historical financial statements and accounting records of Cullgen, which were prepared on a standalone basis in accordance with U.S. GAAP using the historical accounting policies applied by Cullgen. Management reviewed GNI Japan’s historical carrying-basis information for Cullgen and did not identify acquisition-accounting basis differences, pushdown accounting adjustments, or goodwill associated with Cullgen that would require adjustment to Cullgen’s standalone historical financial information for purposes of the retrospective recast.

Effect of Change in Reporting Entity

The following table presents the effect of the retrospective recast resulting from the common-control Merger on the Company’s condensed consolidated statements of operations and comprehensive (loss) income and related per-share amounts for the periods presented. Management assessed that the effect of change in reporting entity resulting from the Merger was immaterial for the three months ended June 30, 2026 as the Company assumed consummation of the Merger at the beginning of second quarter 2026.


	Three Months Ended June 30,			Six Months Ended June 30,
	2025			2026			2025
Effect on net loss*	$	(3,812	)	$	(8,719	)	$	(2,608	)
Effect on net loss attributable to common stockholders		(2,485	)		(4,453	)		(3,014	)
Effect on other comprehensive (loss) income		37			163			79
Effect on basic net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)
Effect on diluted net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)

*The effect of the retrospective recast resulting from the common-control Merger did not have a separate impact on operating income, as operating income was equal to net income for the periods presented. Accordingly, the effects of the change are reflected in net income.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, allowance of doubtful accounts, long-term receivable, warrant liability, allowance for credit losses, reserves for excess or obsolete inventory, operating lease right-of-use assets and liabilities, recognition of research and development expenses to the appropriate financial reporting period based on the progress of the research and development projects, income taxes, stock-based compensation, preferred stock warrant liabilities, and useful lives of property and equipment and intangibles with definite lives. The Company bases its estimates on various assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates.

Noncontrolling Interest

The Company reports noncontrolling interest (“NCI”) in a subsidiary as a separate component of equity in the condensed consolidated balance sheets. The Company also reports the portion of net income or loss and comprehensive income or loss attributable to the Company and NCI separately in the condensed consolidated statements of operations and comprehensive income.

In connection with the retrospective recast of the Merger, for periods prior to the Merger Closing Date, the Company attributes Cullgen’s historical equity, net income or loss, and comprehensive income or loss between the controlling interest and NCI based on the applicable ownership interests and contractual or economic rights. Cullgen interests held by GNI Japan or its controlled affiliates are attributed to the controlling interest and eliminated in consolidation. Cullgen interests held by parties other than GNI Japan are presented as NCI. The non-GNI portion of Cullgen’s redeemable convertible preferred stock principal and cumulative accretion is presented as redeemable noncontrolling interests outside permanent equity until the Merger Closing Date when such interests were acquired or exchanged in the Merger.

For pre-Merger periods, accretion of Cullgen redeemable convertible preferred stock held by non-GNI holders is retained in the recast financial statements and considered in the attribution of income or loss between the controlling interest and NCI. The residual Cullgen income or loss after the effect of such preferred stock accretion is attributed between the controlling interest and NCI based on the applicable common ownership interests. On the Merger Closing Date, Cullgen became a wholly owned subsidiary of the Company and the related Cullgen NCI was eliminated within equity, with no gain or loss recognized in net income or comprehensive income.

Series B Convertible Preferred Stock

The Company accounts for its Series B Convertible Preferred Stock in accordance with ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”), and other applicable U.S. GAAP. The Series B Convertible Preferred Stock was issued by the Company in connection with the Merger and was initially recognized at the carryover-basis amount determined in the common-control transaction. The Company evaluates the instrument’s redemption, conversion, and other substantive terms at each reporting date to determine whether classification as a liability, temporary equity, or permanent equity is required. Preferred stock that is mandatorily redeemable is classified as a liability and measured at the present value of the redemption amount. Preferred stock that is redeemable upon the occurrence of events not solely within the Company’s control is classified as temporary equity. At all other times, preferred stock is classified within stockholders’ equity. The Company records accretion to redemption value when required by applicable accounting guidance. The Company concluded that the Series B Convertible Preferred Stock was classified as temporary equity (mezzanine equity) as of June 30, 2026 under ASC 480-10-S99.

Stockholder approval for conversion of the Series B Convertible Preferred Stock was obtained on June 10, 2026, which eliminated the stockholder-approval contingency that had restricted conversion and could have resulted in cash settlement if conversion shares were not deliverable. However, stockholder approval did not eliminate a separate fundamental transaction feature that may require settlement upon events not solely within the Company’s control. Accordingly, while any Series B Convertible Preferred Stock remains outstanding, the Company will continue to classify the instrument in temporary equity unless the shares are converted into common stock, the fundamental transaction feature is removed or amended such that temporary equity classification is no longer required, or the Company otherwise concludes that permanent equity classification is appropriate under applicable accounting guidance. Because the Series B Convertible Preferred Stock does not have an ultimate redemption amount or earliest redemption date to which the carrying amount should be accreted and was not currently redeemable or probable of becoming redeemable as of June 30, 2026, the Company did not record periodic accretion to redemption value.

Segments

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The CODM uses segment net income or loss generated from segment assets in monitoring budget versus actual results in assessing the performance of the segment.

Following the Merger with Cullgen, the Company's CODM changed from a previous group consisting of (i) the Executive Chairman of Gyre’s Board of Directors, who also served as Gyre’s Interim Chief Executive Officer, and (ii) Gyre’s Chief Operating Officer, who also served as Gyre Pharmaceuticals’ General Manager, to the Company’s Chief Executive Officer. The Company has determined that it has two reportable segments.

Risks and Uncertainties

The Company is subject to a number of risks associated with companies at a similar stage, including dependence on key individuals, competition from larger and established companies, uncertainty of clinical results, ability to obtain adequate financing to support growth, the ability to attract and retain additional qualified personnel to manage the anticipated growth of the Company, and general economic conditions.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, accounts receivable, note receivable, long-term certificates of deposits and short-term bank deposits.

The Company is exposed to United States credit risk in the event of default by the United States institutions holding cash to the extent beyond the amount insured by the United States federal depository insurance corporation. In the United States, the Federal Deposit Insurance Corporation (“FDIC”) insures deposits at federally insured financial institutions up to a limit of $250,000 per depositor, per insured bank, for each account ownership category. The Securities Investor Protection Corporation (“SIPC”) protects customer assets held by registered broker‑dealers, with a standard limit of $500,000 per customer. The Company maintains cash and deposits in excess of the amount protected by FDIC and SIPC insurance. In the event of failure or insolvency of one of these financial institutions, the Company may be unable to recover its deposits in full. Management believes that these financial institutions are of high credit quality and continually monitors the creditworthiness of these financial institutions. As of June 30, 2026 and December 31, 2025, the Company had cash and cash equivalents held in U.S. financial institutions of $43.3 million and $49.2 million, respectively. Of the 2026 balance, $4.7 million represented general bank deposits and $20.5 million represented investment related cash. At June 30, 2026, the Company’s U.S. cash balances exceeded FDIC insurance coverage by $4.4 million and exceeded SIPC coverage by $15.1 million.

In May 2015, a new Deposit Insurance System (“DIS”) managed by the People’s Bank of China was implemented by the Chinese government. Deposits in the licensed banks in mainland China are protected by DIS, up to a limit of Chinese Renminbi (“RMB”) 500,000, or approximately $73,412, based on the June 30, 2026 spot exchange rate. The Company maintains cash and deposits in excess of the amount protected by DIS and in the event of bankruptcy of one of these financial institutions, the Company may be unable to claim its deposits back in full. Management believes that these financial institutions are of high credit quality and continually monitors the creditworthiness of these financial institutions. The following table presents the Company's cash balances maintained in mainland China by investment type and the amount (in millions) that exceeded applicable deposit insurance coverage as of June 30, 2026 and December 31, 2025:


	June 30, 2026		December 31, 2025 (As Recast)
Cash and cash equivalents	13.6		15.3
Long-term certificates of deposit		28.4		23.5
Short-term bank deposits	14.1		15.4
Total cash, cash equivalents and bank deposits		56.1		54.2

Amount exceeding PRC DIS coverage	55.5		53.5

Accounts receivable are typically unsecured and are derived from product sales. The Company manages credit risk related to the accounts receivable through ongoing monitoring of outstanding balances and limiting the amount of credit extended based upon payment history and creditworthiness. Historically, the Company has collected receivables from customers within the credit terms with no significant credit losses incurred. Note receivable is also subject to credit risk. The Company monitors the creditworthiness and repayment performance of the borrower on an ongoing basis and has not experienced significant credit losses related to such receivable.

The Company’s short-term investments include marketable securities. The Company classifies its marketable securities as available-for-sale securities, which include commercial paper, corporate debt securities and U.S. government agency securities. These securities are recorded at fair value with the related unrealized gains and losses included in accumulated other comprehensive loss. Premiums or discounts from par value are amortized to investment income over the life of the underlying investment and are included in ‘interest income’ within the consolidated statements of comprehensive loss. All the Company’s available-for-sale securities are available to the Company for use in current operations. As a result, the Company classified all these securities as current assets even though the stated maturity of some individual securities may be one year or more beyond the balance sheet date. The cost of securities sold is determined on a specific identification basis, and realized gains and losses are included in ‘Net loss’ within the consolidated statements of comprehensive loss. If any adjustment is required to reflect a decline in the value of the investment that the Company considers to be “other than temporary”, the Company recognizes a charge to the consolidated statements of comprehensive loss.

Concentration of Customer Risk

For the three months ended June 30, 2026, following the completion of the Merger with Cullgen, the Company’s revenue consists of (i) pharmaceutical product sales primarily generated through its legacy business and (ii) collaboration-based revenue generated by Cullgen’s operations.

Pharmaceutical Product Sales

For the three months ended June 30, 2026, the Company had three customers, Sinopharm Group Co., Ltd. ("Sinopharm"), Shanghai Pharmaceuticals Holding Co., Ltd. (“Shanghai Pharmaceuticals”) and China Resources Pharmaceutical Group Ltd. (“Resources Pharmaceutical”), who accounted for approximately 48.7%, 12.2% and 11.6% of total revenue, respectively. For the three months ended June 30, 2025, the Company had three customers, Sinopharm, Resources Pharmaceutical, and Shanghai Pharmaceuticals, who accounted for approximately 48.0%, 11.3% and 11.9% of total revenue, respectively. All customers are located in mainland China.

For the six months ended June 30, 2026, the Company had three customers, Sinopharm, Shanghai Pharmaceuticals and Resources Pharmaceutical, who accounted for approximately 44.7%, 12.3% and 12.5% of total revenue, respectively. For the six months ended June 30, 2025, the Company had three customers, Sinopharm, Resources Pharmaceutical, and Shanghai Pharmaceuticals, who accounted for approximately 42.0%, 11.2% and 10.4% of total revenue, respectively. All customers are located in mainland China.

Collaboration-Based Revenue

Cullgen’s collaboration-based revenue is generated pursuant to a single collaboration agreement with one customer. For the three and six months ended June 30, 2026 and 2025, all of Cullgen’s revenue was derived from this single customer under its collaboration arrangement, as further described in Note 6 to the consolidated financial statements.

As of June 30, 2026 and December 31, 2025, the Company had one customer, Sinopharm, who accounted for approximately 45.5% and 53.3% of accounts receivable, respectively.

Foreign Currency Risk

Transactions in subsidiaries are recorded in the functional currency of the respective subsidiary. The determination of functional currency is based on the criteria of Accounting Standard Codification (“ASC”) 830, Foreign Currency Matters.

The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. 31.5% of the Company’s cash and cash equivalents, 100.0% of the Company’s short-term bank deposits and 100% of the Company's long-term certificates of deposit as of June 30, 2026 in the amount of $13.6 million, $14.1 million and $28.4 million, respectively, were denominated in RMB.

Accounting Pronouncements – Recently Adopted

In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides a practical expedient for measuring expected credit losses for current accounts receivable and current contract assets that arise from revenue transactions within the scope of ASC 606, permitting an entity to assume that economic conditions as of the balance sheet date will remain unchanged over the remaining life of the financial assets when developing reasonable and supportable forecasts. ASU 2025-05 is effective for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2025, with early adoption permitted. The amendments in this update should be applied on a prospective basis. The Company adopted the provisions of the amendments as of January 1, 2026. The adoption of this amendment did not have a material impact on the Company’s consolidated financial statements.

New Accounting Pronouncements Issued and Not Yet Adopted

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06”). ASU 2023-06 modifies the disclosure or presentation requirements of a variety of Topics in the Financial Accounting Standards Codification (the “Codification”). Certain of the amendments represent clarifications to or technical corrections of the current requirements. Because of the variety of Topics amended, a broad range of entities may be affected by one or more of those amendments. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, the amendments will be effective two years later. The amendments in this update should be applied prospectively. For all entities, if by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is currently evaluating the potential impact this standard will have on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40) (“ASU 2024-03”). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. In January 2025, the FASB issued ASU 2025-01, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) - Clarifying the Effective Date to clarify the effective date of ASU 2024-03 for non-calendar year-end entities. ASU 2024-03 is effective for the Company's fiscal year 2027, and interim periods starting in fiscal year 2028. Early adoption is permitted. The amendments in this ASU are to be applied retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is also permitted. This ASU will likely result in the required additional disclosures being included in our consolidated financial statements, once adopted. The Company has elected not to early adopt ASU 2024-03. The Company is currently assessing the impact of the disclosure requirements on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. This ASU provides guidance on the recognition, measurement, presentation and disclosure of government grants received by business entities. The ASU is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual periods, with early adoption permitted. The Company has elected not to early adopt ASU 2025-10. The Company is currently evaluating the impact that the adoption of ASU 2025-10 will have on its consolidated financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 clarifies the applicability of the interim reporting guidance in Topic 270 and improves the navigability and organization of the guidance. The amendments also introduce a principle requiring entities that issue interim financial statements to disclose events and changes occurring after the end of the most recent annual reporting period that are expected to have a material impact on the entity. ASU 2025-11 does not change the recognition or measurement requirements for interim reporting. The ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 for public business entities, with early adoption permitted. The Company has elected not to early adopt ASU 2025-11. The Company is currently evaluating the potential impact of this guidance on its interim and annual financial statement disclosures.

Subsequent Events

The Company accounts for subsequent events in accordance with ASC 855, Subsequent Events, which defines subsequent events as events or transactions that occur after the balance sheet date but before the financial statements are issued. Management has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission.

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

1. Organization and Basis of Presentation

The Company

Gyre Therapeutics, Inc. (the “Company” or “Gyre”), formerly known as Catalyst Biosciences, Inc. (“Catalyst”), is a commercial-stage biopharmaceutical company originally incorporated in Delaware on March 7, 1997 under the name Targacept, Inc.

As of June 30, 2026, the Company holds a 69.7% indirect interest in Beijing Continent Pharmaceuticals Co., Ltd. (d/b/a Gyre Pharmaceuticals Co., Ltd., “Gyre Pharmaceuticals”), a commercial-stage biopharmaceutical company registered and established in the People’s Republic of China (“PRC”) in 2002. The majority shareholder of Gyre is GNI USA, Inc. (“GNI USA”), which is indirectly wholly owned by GNI Group Ltd. (“GNI Japan”). Gyre is a commercial-stage biotechnology company with a proven track record of success in developing and commercializing small-molecule anti-inflammatory and anti-fibrotic drugs targeting organ diseases, focusing specifically on organ fibrosis. Fibrotic diseases represent a large patient population with significant unmet medical needs.

On May 4, 2026 (the “Merger Closing Date”), the Company completed the merger (the “Merger”) with Cullgen Inc. (“Cullgen”) pursuant to the Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), dated March 2, 2026, by and among Gyre, Cullgen, and Helix Merger Sub Corp. (“Merger Sub”). Upon consummation of the Merger, Cullgen became a wholly owned subsidiary of Gyre. Cullgen, a biopharmaceutical company dedicated to the development of medicines for the treatment of diseases lacking effective therapeutic approaches, was incorporated in the state of Delaware on January 12, 2018.

Liquidity

For the six months ended June 30, 2026, the Company had a net loss of $32.8 million, while net cash used in operating activities was $13.5 million. As of June 30, 2026, the Company had an accumulated deficit of $138.0 million and cash and cash equivalents of $43.3 million. Based on the Company’s current operating plan, management believes that existing cash and cash equivalents, cash flows from operations, and access to capital markets will be sufficient to fund the Company’s operating activities and obligations for at least twelve months following the issuance of these condensed consolidated financial statements.

Basis of Presentation and Principles of Consolidation

The accompanying condensed consolidated financial statements include the accounts of the Company and its controlled subsidiaries after elimination of all intercompany accounts and transactions among consolidated entities. On May 4, 2026, the Company completed the Merger with Cullgen, an entity under common control with the Company through GNI Japan. The Merger has been accounted for as a transaction between entities under common control. Accordingly, the accompanying unaudited condensed consolidated financial statements have been retrospectively recast for all periods presented during which the Company and Cullgen were under common control to reflect the combined financial position, results of operations, changes in stockholders’ equity, and cash flows of the Company and Cullgen as if the common-control transfer had occurred at the beginning of the earliest period presented.

For periods prior to the Merger Closing Date, the retrospective recast reflects the common-control transfer of Cullgen to the Company but does not give effect to the Company’s acquisition or exchange of Cullgen ownership interests held by parties other than GNI Japan before the date such interests were acquired or exchanged. Accordingly, Cullgen’s historical equity, net income or loss, and comprehensive income or loss attributable to ownership interests held by parties other than GNI Japan have been presented as noncontrolling interests for periods prior to the Merger Closing Date. Upon completion of the Merger, Cullgen became a wholly owned subsidiary of the Company and the related Cullgen noncontrolling interests were eliminated within equity, with no gain or loss recognized in the condensed consolidated statements of operations or comprehensive income.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the requirements of the Securities and Exchange Commission (the “SEC”) for interim reporting. The December 31, 2025 consolidated balance sheet has been derived from the audited consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC, and has been retrospectively recast to reflect the Merger, which was accounted for as a transaction between entities under common control (see Note 2, Summary of Significant Accounting Policies). The retrospective recast reflects a change in reporting entity resulting from a combination of entities under common control and does not represent the correction of an error in previously issued financial statements. As permitted under the SEC’s interim reporting rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements after giving effect to the retrospective recast described above, and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the Company’s condensed consolidated financial information. These unaudited condensed consolidated results of operations and cash flows for any interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2026, or for any other future annual or interim period.

The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the consolidated financial statements filed with the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 13, 2026 (the “Annual Report”), together with the disclosures included herein regarding the retrospective recast resulting from the Merger.

Stockholders' Equity - Schedule of Common Stock, Reserved for Future Issuance (Parenthetical) (Details) - 2023 Incentive Plan	Jun. 30, 2026 shares
Class of Stock [Line Items]
Options exercisable for shares	17,471,542
Common Stock [Member]
Class of Stock [Line Items]
Options exercisable for shares	5,476,086

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2024 CNY (¥)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)
Commitments And Contingencies Disclosure [Line Items]
Accrued contract consideration						$ 1,800,000
Purchase of property and equipment				$ 440,000	$ 457,000
Research and development		$ 8,351,000			$ 16,442,000
SDM Clinical Trial Agreement
Commitments And Contingencies Disclosure [Line Items]
Contractual amount			¥ 114,000,000			16,700,000
Research and development				2,600,000
Payment for research and development under agreement				4,700,000
Property and Equipment
Commitments And Contingencies Disclosure [Line Items]
Purchase of property and equipment				$ 1,200,000
Research and development expenses \| Gyre Pharmaceuticals
Commitments And Contingencies Disclosure [Line Items]
Committed to allocate						$ 44,500,000
Etorel IP Rights
Commitments And Contingencies Disclosure [Line Items]
Contingent royalty minimum payment \| ¥	¥ 35,000,000
Contingent royalty payment description			For each of the first two years starting from June 2025, the minimum annual commission is RMB 10 million, or approximately $1.5 million, based on the June 30, 2026 spot exchange rate, which has already been included in the IP cost. If the sales-based commission calculated at 5% of annual sales in the first year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate) or the commission calculated at 4% of annual sales in the second year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate), the excess amount for each year will be recognized as contingent consideration. For the third year through the eighth year, the contingent payments will be calculated at 3%, 2%, 2%, 1%, 1%, and 1% of sales in each year, respectively.	For each of the first two years starting from June 2025, the minimum annual commission is RMB 10 million, or approximately $1.5 million, based on the June 30, 2026 spot exchange rate, which has already been included in the IP cost. If the sales-based commission calculated at 5% of annual sales in the first year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate) or the commission calculated at 4% of annual sales in the second year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate), the excess amount for each year will be recognized as contingent consideration. For the third year through the eighth year, the contingent payments will be calculated at 3%, 2%, 2%, 1%, 1%, and 1% of sales in each year, respectively.
Contingent royalty payment sales for first year \| ¥			¥ 10,000,000
Contingent royalty payment sales for second year \| ¥			¥ 10,000,000
Contingent royalty payment sales spot exchange rate for first year				$ 1,500,000
Contingent royalty payment sales spot exchange rate for second year				1,500,000
Contingent royalty payment percentage of sale for first year			5.00%			5.00%
Contingent royalty payment percentage of sale for second year			4.00%			4.00%
Contingent royalty payment percentage of sale for third year			3.00%			3.00%
Contingent royalty payment percentage of sale for fourth year			2.00%			2.00%
Contingent royalty payment percentage of sale for fifth year			2.00%			2.00%
Contingent royalty payment percentage of sale for sixth year			1.00%			1.00%
Contingent royalty payment percentage of sale for seventh year			1.00%			1.00%
Contingent royalty payment percentage of sale for eighth year			1.00%			1.00%
Minimum payments based on spot exchange rate				5,100,000
Annual sales commission for second year exceeding amount \| ¥			¥ 10
Annual sales commission spot exchange rate for second year exceeding amount						$ 1,500,000
Hydronidone
Commitments And Contingencies Disclosure [Line Items]
Payments for exchange of intellectual property rights				$ 0
Contingent royalty payment percentage of sale for first year			10.00%			10.00%
Contingent royalty payment percentage of sale for second year			14.00%			14.00%
Contingent royalty payment percentage of sale for third year			16.00%			16.00%
Contingent royalty payment percentage of sale for fourth year			16.00%			16.00%
Contingent royalty payment percentage of sale for fifth year			16.00%			16.00%
Contingent royalty payment percentage of sale for sixth year			16.00%			16.00%
Contingent royalty payment percentage of sale for seventh year			16.00%			16.00%
Contingent royalty payment percentage of sale for eighth year			15.00%			15.00%
Contingent royalty payments percentage of sale for ninth year			14.00%			14.00%
Contingent royalty payments percentage of sale for tenth year			12.00%			12.00%
Contingent royalty payments percentage of sale for eleventh year			10.00%			10.00%
Contingent royalty payment percentage of sale for twelfth year			8.00%			8.00%
Hydronidone \| GNI
Commitments And Contingencies Disclosure [Line Items]
Committed to allocate						$ 8,500,000
Hydronidone \| Gyre Pharmaceuticals \| NDA Passes the NMPA's Review and Inspection
Commitments And Contingencies Disclosure [Line Items]
Obligation to pay in exchange for the intellectual property rights			¥ 8,300,000			1,200,000
Hydronidone \| Gyre Pharmaceuticals \| NMPA's Approval of the NDA
Commitments And Contingencies Disclosure [Line Items]
Obligation to pay in exchange for the intellectual property rights			¥ 49,600,000			$ 7,300,000

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Mainland China Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions for employee benefits	$ 1,800,000	$ 1,700,000	$ 3,300,000	$ 3,400,000
Defined-Contribution Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions for employee benefits	$ 36,100	$ 40,000	$ 70,800	$ 70,800

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Balance Sheet Components - Schedule of Accounts and Note Receivables, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Receivables [Abstract]
Accounts receivable	$ 28,079	$ 31,229
Note receivable	232	5,638
Allowance for credit losses	(319)	(151)
Accounts and note receivables, net	$ 27,992	$ 36,716

Leases

6 Months Ended

Jun. 30, 2026

Lessee Disclosure [Abstract]

Leases


7.	Leases

Operating Leases

As of June 30, 2026, Gyre Pharmaceuticals maintained leases for office spaces in the following locations: in Beijing, comprising approximately 2,130 square meters with a lease expiration in June 2027; in Zhengzhou, comprising approximately 180 square meters with a lease expiration in August 2026; in Shanghai, comprising approximately 224 square meters with a lease expiration in December 2026; in Nanjing, comprising approximately 70 square meters with a lease expiration in February 2027; and in Beijing, for a staff dormitory comprising approximately 249 square meters with a lease expiration in March 2028. Cullgen maintained leases for research and office facilities in Shanghai, China, comprising multiple buildings and floors with lease expirations ranging from November 2026 to February 2037. In connection with the Merger, the Company entered into an agreement for the early termination of the lease for its U.S. headquarters in San Diego, California, which termination was effective in July 2026, and relocated its U.S. headquarters to Cullgen's leased facility in San Diego, California, with a lease expiration in July 2028. The Company assessed the impact of early termination to be immaterial.

The Company also has multiple short-term leased properties used as offices and employee dormitories. The Company recorded a total of $18 thousand and $32 thousand in short-term rent expenses during the three months ended June 30, 2026 and 2025, respectively. The Company recorded a total of $35 thousand and $48 thousand in short-term rent expenses during the six months ended June 30, 2026 and 2025, respectively. The short-term rent expense amounts are recorded in operating expenses in the accompanying condensed consolidated statements of operations and comprehensive income.

As of June 30, 2026, the Company recorded an aggregate right-of-use asset of $3.3 million, and an aggregate lease liability of $3.4 million in the accompanying condensed consolidated balance sheets.

For the three months ended June 30, 2026 and 2025, the Company’s operating lease expense was $0.4 million and $0.5 million, respectively. For the six months ended June 30, 2026 and 2025, the Company's operating lease expense was $0.9 million and $0.8 million, respectively. Variable lease payments for the three and six months ended June 30, 2026 and 2025 were immaterial.

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Six Months Ended June 30,
	2026		2025 (As Recast)
Cash paid for amounts included in the measurement of lease liabilities	$	584	$	718

The present value assumptions used in calculating the present value of the lease payments were as follows:


	June 30, 2026			December 31, 2025 (As Recast)
Weighted-average remaining lease term	5.1 years			5.4 years
Weighted-average discount rate		7.41	%		7.81	%

As of June 30, 2026, undiscounted future minimum payments under the Company’s operating leases were as follows (in thousands):


	Amount
Remaining in 2026	$	884
2027		1,117
2028		683
2029		222
2030		196
Thereafter		1,189
Total undiscounted lease payments		4,291
Less: imputed interest		(873	)
Total lease liabilities		3,418
Less: current portion of lease liabilities		(1,385	)
Lease liabilities, net of current portion	$	2,033

The Company is required to maintain security deposits of $0.5 million in connection with various leases, which amounts are included in other assets, noncurrent on the Company’s condensed consolidated balance sheets.

Land Use Rights

As of June 30, 2026, the Company held land use rights for two land parcels in Beijing’s Shunyi District, expiring in 2053, and in Cangzhou, Hebei Province, expiring from 2067 to 2070. These parcels, with a combined area of approximately 66,559 square meters, are utilized as manufacturing facilities. As of June 30, 2026, the aggregate carrying amount of the land use rights, net assets for these parcels was $1.5 million.

Fair Value Measurements and Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents
Money market funds(1)	$	27,543	$	—	$	—	$	27,543
Short-term investments
Available-for-sale securities
US government agency securities		—		1,990		—		1,990
Corporate debt securities		—		13,485		—		13,485
Commercial paper		—		1,976		—		1,976
Total financial assets	$	27,543	$	17,451	$	—	$	44,994

Financial liabilities:
Warrant liability, noncurrent	$	—	$	—	$	2,741	$	2,741
Total financial liabilities	$	—	$	—	$	2,741	$	2,741


	December 31, 2025 (As Recast)
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents
Money market funds(1)	$	25,043	$	—	$	—	$	25,043
Short-term investments
Available-for-sale securities
US government agency securities		—		2,000		—		2,000
Corporate debt securities		—		23,146		—		23,146
Commercial paper		—		2,939		—		2,939
Total financial assets	$	25,043	$	28,085	$	—	$	53,128

Financial liabilities:
Warrant liability, noncurrent	$	—	$	—	$	2,961	$	2,961
Total financial liabilities	$	—	$	—	$	2,961	$	2,961

(1)

Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets.

Summary of Assumptions to Fair Value of Warrant Liability Based on Black-Scholes Option Pricing Model

The fair value of the warrant liability is estimated based on the Black-Scholes option-pricing model using the following weighted-average assumptions:


	June 30, 2026			December 31, 2025 (As Recast)
Share price	$	6.59		$	7.06
Exercise price	$	4,915.00		$	4,915.00
Dividend yield		—	%		—	%
Risk-free interest		4.23	%		3.93	%
Term (years)	7.33			7.83
Expected volatility		84.00	%		81.00	%

Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities

The following table sets forth the changes in the estimated fair value of the Company’s Level 3 financial liabilities (in thousands):


	Warrant liability
Balance at December 31, 2025 (As Recast)	$	2,961
Changes in fair value		(220	)
Balance at June 30, 2026	$	2,741

Cash Equivalents and Held-to-maturity Debt Securities

Cash equivalents, available-for-sale, and held-to-maturity debt securities consisted of the following (in thousands):


June 30, 2026	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Money market funds (cash equivalents)	$	27,543	$	—	$	—		$	27,543
Short-term bank deposits		14,058		—		—			14,058
Long-term certificates of deposit		28,444		—		—			28,444
Short-term investments (available-for-sale securities)
US government agency securities		2,000		—		(10	)		1,990
Corporate debt securities		13,351		134		—			13,485
Commercial paper		1,978		—		(2	)		1,976
Total financial assets	$	87,374	$	134	$	(12	)	$	87,496
Classified as:
Cash and cash equivalents								$	27,543
Short-term bank deposits									14,058
Long-term certificates of deposit									28,444
Short-term investments									17,451
Total financial assets								$	87,496


December 31, 2025 (As Recast)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Money market funds (cash equivalents)	$	25,043	$	—	$	—	$	25,043
Short-term bank deposits		15,355		—		—		15,355
Long-term certificates of deposit		23,516		—		—		23,516
Short-term investments (available-for-sale securities)
US government agency securities		2,000		—		—		2,000
Corporate debt securities		22,866		280		—		23,146
Commercial paper		2,939		—		—		2,939
Total financial assets	$	91,719	$	280	$	—	$	91,999
Classified as:
Cash and cash equivalents							$	25,043
Short-term bank deposits								15,355
Long-term certificates of deposit								23,516
Short-term investments								28,085
Total financial assets							$	91,999

Summary of Fair Value and Amortized Cost of Held-to-maturity Debt Securities by Redemption Date

The fair value and amortized cost of the Company's held-to-maturity debt securities by redemption date were as follows:


	June 30, 2026
	Amortized Cost		Fair Value
Due in one year	$	14,058	$	14,058
Due in one to five years		28,444		28,444
Total	$	42,502	$	42,502

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Schedule of Common Stock, Reserved for Future Issuance

Common stock reserved for future issuance is as follows:


	June 30, 2026			December 31, 2025 (As Recast)
Options issued and outstanding		23,684,944	(1)		23,580,270
Preferred Stock Warrants issued and outstanding		540,666			540,666
Total common stock reserved		24,225,610			24,120,936

[1] Includes 5,476,086 options exercisable for shares of common stock, which underlying shares of common stock were transferred in the name of the Company to Futu Network Technology Limited, the stock plan administrator of the 2023 Omnibus Incentive Sub-Plan for Chinese participants.

Fair Value Measurements and Financial Instruments - Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities (Detail) - Warrant Liability, Noncurrent $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2025 (As Recast)	$ 2,961
Changes in fair value	(220)
Balance at June 30, 2026	$ 2,741

Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Segment information for the three and six months ended June 30, 2026 and 2025 is as follows (in thousands):


	Three Months Ended June 30, 2026
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	29,097		$	8		$	29,105
Operating expenses
Cost of revenues		2,209			—			2,209
Selling and marketing		13,754			—			13,754
Research and development		9,697			4,603			14,300
Research and development - related parties		4,836			—			4,836
General and administrative		4,268			3,594			7,862
Transaction costs		—			502			502
Total segment operating expenses		34,764			8,699			43,463
Loss from segment operations		(5,667	)		(8,691	)		(14,358	)
Other segment (loss) income, net:
Interest income		252			488			740
Other expense, net		(391	)		(552	)		(943	)
Change in fair value of warrant liability		—			132			132
Benefit (provision) for income taxes		165			(1	)		164
Net segment (loss) income	$	(5,641	)	$	(8,624	)	$	(14,265	)
Reconciliation of profit or loss
Other general and administrative expenses								5
Total Consolidated net loss							$	(14,270	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	122		$	—		$	122
Selling and marketing		661			—			661
Research and development		79			—			79
General and administrative		344			627			971
Stock-based compensation total	$	1,206		$	627		$	1,833


	Six Months Ended June 30, 2026
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	51,616		$	1,919		$	53,535
Operating expenses
Cost of revenues		3,436			—			3,436
Selling and marketing		27,890			—			27,890
Research and development		15,163			10,618			25,781
Research and development - related parties		4,836			—			4,836
General and administrative		9,025			9,007			18,032
Transaction costs		—			6,886			6,886
Total segment operating expenses		60,350			26,511			86,861
Loss from segment operations		(8,734	)		(24,592	)		(33,326	)
Other segment (loss) income, net:
Interest income		517			966			1,483
Other expense, net		(818	)		(12	)		(830	)
Change in fair value of warrant liability		—			220			220
Benefit (provision) for income taxes		(456	)		71			(385	)
Net segment loss	$	(9,491	)	$	(23,347	)	$	(32,838	)
Reconciliation of profit or loss
Other general and administrative expenses								11
Consolidated net loss							$	(32,849	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	300		$	—		$	300
Selling and marketing		1,646			—			1,646
Research and development		194			—			194
General and administrative		779			1,739			2,518
Stock-based compensation total	$	2,919		$	1,739		$	4,658


	Three Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	26,771		$	2,963		$	29,734
Operating expenses:
Cost of revenues		1,151			—			1,151
Selling and marketing		15,195			—			15,195
Research and development		3,337			5,014			8,351
General and administrative		2,858			4,417			7,275
Total segment operating expenses		22,541			9,431			31,972
Income (loss) from segment operations		4,230			(6,468	)		(2,238	)
Other segment (loss) income, net:
Interest income		271			670			941
Other (expense) income, net		(507	)		19			(488	)
Change in fair value of warrant liability		-			212			212
Provision for income taxes		(662	)		-			(662	)
Net segment income (loss)	$	3,332		$	(5,567	)	$	(2,235	)
Reconciliation of profit or loss
Other general and administrative expenses								2
Total Consolidated net loss							$	(2,237	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	47		$	—		$	47
Selling and marketing		29			—			29
General and administrative		273			709			982
Research and development		—			62			62
Stock-based compensation total	$	349		$	771		$	1,120


	Six Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	48,829		$	11,476		$	60,305
Operating expenses:
Cost of revenues		2,045			—			2,045
Selling and marketing		26,035			—			26,035
Research and development		6,366			10,076			16,442
General and administrative		6,414			9,062			15,476
Total segment operating expenses		40,860			19,138			59,998
Income (loss) from segment operations		7,969			(7,662	)		307
Other segment (loss) income, net:
Interest income		555			1,242			1,797
Other (expense) income, net		(729	)		428			(301	)
Change in fair value of warrant liability		—			2,467			2,467
Provision for income taxes		(1,563	)		—			(1,563	)
Net segment income (loss)	$	6,232		$	(3,525	)	$	2,707
Reconciliation of profit or loss
Other general and administrative expenses								5
Total Consolidated net loss							$	2,702
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	47		$	—		$	47
Selling and marketing		29			—			29
General and administrative		351			1,373			1,724
Research and development		—			143			143
Stock-based compensation total	$	427		$	1,516		$	1,943

The table below presents total assets as of June 30, 2026 and December 31, 2025.


	June 30, 2026
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Total assets	$	139,241	$	59,657	$	357	$	199,255


	December 31, 2025 (As Recast)
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Total assets	$	138,407	$	81,000	$	356	$	219,763

The table below only includes cash outflows for the purchase of property and equipment and excludes non-cash activities.


	Six Months Ended June 30, 2026
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Purchase of property and equipment	$	386	$	54	$	—	$	440


	Six Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Purchase of property and equipment	$	378	$	79	$	—	$	457

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Fair Value Measurements and Financial Instruments - Financial Assets and Liabilities Measured at Fair Value (Detail) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands

Jun. 30, 2026

Dec. 31, 2025

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

$ 44,994

$ 53,128

Liabilities, fair value

2,741

2,961

Money Market Funds [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

27,543

25,043

Warrant [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

2,741

2,961

Short-Term Investments [Member] | US Government Corporations and Agencies Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

1,990

2,000

Short-Term Investments [Member] | Corporate Debt Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

13,485

23,146

Short-Term Investments [Member] | Commercial Paper [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

1,976

2,939

Fair Value, Inputs, Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

27,543

25,043

Fair Value, Inputs, Level 1 | Money Market Funds [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

^[1]

27,543

25,043

Fair Value, Inputs, Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

17,451

28,085

Fair Value, Inputs, Level 2 | Short-Term Investments [Member] | US Government Corporations and Agencies Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

1,990

2,000

Fair Value, Inputs, Level 2 | Short-Term Investments [Member] | Corporate Debt Securities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

13,485

23,146

Fair Value, Inputs, Level 2 | Short-Term Investments [Member] | Commercial Paper [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value

1,976

2,939

Fair Value, Inputs, Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

2,741

2,961

Fair Value, Inputs, Level 3 | Warrant [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities, fair value

$ 2,741

$ 2,961

[1]	Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets.

Summary of Significant Accounting Policies - Effect of Retrospective Recast Resulting from Common-Control Merger (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Change in Reporting Entity [Abstract]
Change in Reporting Entity, Income (Loss), after Tax, Attributable to Parent	$ (3,812)	$ (8,719)	$ (2,608)
Change in Reporting Entity Net Loss Attributable to Common Stockholders	(2,485)	(4,453)	(3,014)
Change in Reporting Entity, Other Comprehensive Income (Loss), after Tax and Adjustments	$ 37	$ (163)	$ 79
Change in Reporting Entity, Earnings Per Share, Basic	$ (0.03)	$ (0.05)	$ (0.03)
Change in Reporting Entity, Earnings Per Share, Diluted	$ (0.03)	$ (0.05)	$ (0.03)

Organization and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Organization And Nature Of Operations [Line Items]
us-gaap:NetIncomeLoss	$ (14,270)	$ (18,579)	$ (2,237)	$ 4,939	$ (32,800)
Net cash provided by operating activities					(13,548)	$ (7,603)
Accumulated deficit	137,962				137,962		$ 112,603
Cash and cash equivalents	$ 43,287				$ 43,287		$ 49,192
Gyre \| Gyre Pharmaceuticals
Organization And Nature Of Operations [Line Items]
Minority interest ownership indirectly holds					69.70%

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 4
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+ Details

Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Segment Reporting [Line Items]
Revenues	$ 29,105	$ 29,734	$ 53,535	$ 60,305
Operating expenses:
Cost of revenues	2,209	1,151	3,436	2,045
Selling and marketing	13,754	15,195	27,890	26,035
Research and development		8,351		16,442
General and administrative	7,862	7,275	18,032	15,476
Transaction costs	502		6,886
Total segment operating expenses	43,463	31,972	86,861	59,998
(Loss) income from operations	(14,358)	(2,238)	(33,326)	307
Other segment (loss) income, net:
Interest income	740	941	1,483	1,797
Other (expense) income, net	(943)	(488)	(830)	(301)
Change in fair value of warrant liability	132	212	220	2,467
Benefit (provision) for income taxes	164	(662)	(385)	(1,563)
Net segment (loss) income	(14,265)	(2,235)	(32,838)	2,707
Reconciliation of profit or loss
Other general and administrative expenses	5	2	11	5
Net (loss) income	(14,270)	(2,237)	(32,849)	2,702
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	1,833	1,120	4,658	1,943
Total assets	199,255		199,255		$ 219,763
Purchase of property and equipment			440	457
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	122	47	300	47
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	971	982	2,518	1,724
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	79	62	194	143
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	661	29	1,646	29
Related Parties
Operating expenses:
Research and development	4,836		4,836
Non-Related Party
Operating expenses:
Research and development	14,300	8,351	25,781	16,442
Gyre Pharmaceuticals
Segment Reporting [Line Items]
Revenues	29,097	26,771	51,616	48,829
Operating expenses:
Cost of revenues	2,209	1,151	3,436	2,045
Selling and marketing	13,754	15,195	27,890	26,035
Research and development		3,337		6,366
General and administrative	4,268	2,858	9,025	6,414
Transaction costs	0		0
Total segment operating expenses	34,764	22,541	60,350	40,860
(Loss) income from operations	(5,667)	4,230	(8,734)	7,969
Other segment (loss) income, net:
Interest income	252	271	517	555
Other (expense) income, net	(391)	(507)	(818)	(729)
Change in fair value of warrant liability	0	0	0	0
Benefit (provision) for income taxes	165	(662)	(456)	(1,563)
Net segment (loss) income	(5,641)	3,332	(9,491)	6,232
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	1,206	349	2,919	427
Total assets	139,241		139,241		138,407
Purchase of property and equipment			386	378
Gyre Pharmaceuticals \| Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	122	47	300	47
Gyre Pharmaceuticals \| Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	344	273	779	351
Gyre Pharmaceuticals \| Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	79	0	194	0
Gyre Pharmaceuticals \| Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	661	29	1,646	29
Gyre Pharmaceuticals \| Related Parties
Operating expenses:
Research and development	4,836		4,836
Gyre Pharmaceuticals \| Non-Related Party
Operating expenses:
Research and development	9,697		15,163
Gyre
Segment Reporting [Line Items]
Revenues	8	2,963	1,919	11,476
Operating expenses:
Cost of revenues	0	0	0	0
Selling and marketing	0	0	0	0
Research and development		5,014		10,076
General and administrative	3,594	4,417	9,007	9,062
Transaction costs	502		6,886
Total segment operating expenses	8,699	9,431	26,511	19,138
(Loss) income from operations	(8,691)	(6,468)	(24,592)	(7,662)
Other segment (loss) income, net:
Interest income	488	670	966	1,242
Other (expense) income, net	(552)	19	(12)	428
Change in fair value of warrant liability	132	212	220	2,467
Benefit (provision) for income taxes	(1)	0	71	0
Net segment (loss) income	(8,624)	(5,567)	(23,347)	(3,525)
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	627	771	1,739	1,516
Total assets	59,657		59,657		81,000
Purchase of property and equipment			54	79
Gyre \| Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	0	0	0	0
Gyre \| Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	627	709	1,739	1,373
Gyre \| Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	0	62	0	143
Gyre \| Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Supplemental disclosure of stock-based compensation expense:
Stock-based compensation	0	$ 0	0	0
Gyre \| Related Parties
Operating expenses:
Research and development	0		0
Gyre \| Non-Related Party
Operating expenses:
Research and development	4,603		10,618
Other Unallocated Amount
Supplemental disclosure of stock-based compensation expense:
Total assets	$ 357		357		$ 356
Purchase of property and equipment			$ 0	$ 0

Fair Value Measurements and Financial Instruments

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements and Financial Instruments


3.	Fair Value Measurements and Financial Instruments

For a description of the fair value hierarchy and the fair value methodology, see Note 2 — Summary of Significant Accounting Policies in the Annual Report. There were no significant changes in these methodologies during the six months ended June 30, 2026. As of June 30, 2026, the Company’s highly liquid money market funds are included within cash equivalents.

The following tables present the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents
Money market funds(1)	$	27,543	$	—	$	—	$	27,543
Short-term investments
Available-for-sale securities
US government agency securities		—		1,990		—		1,990
Corporate debt securities		—		13,485		—		13,485
Commercial paper		—		1,976		—		1,976
Total financial assets	$	27,543	$	17,451	$	—	$	44,994

Financial liabilities:
Warrant liability, noncurrent	$	—	$	—	$	2,741	$	2,741
Total financial liabilities	$	—	$	—	$	2,741	$	2,741


	December 31, 2025 (As Recast)
	Level 1		Level 2		Level 3		Total
Financial assets:
Cash equivalents
Money market funds(1)	$	25,043	$	—	$	—	$	25,043
Short-term investments
Available-for-sale securities
US government agency securities		—		2,000		—		2,000
Corporate debt securities		—		23,146		—		23,146
Commercial paper		—		2,939		—		2,939
Total financial assets	$	25,043	$	28,085	$	—	$	53,128

Financial liabilities:
Warrant liability, noncurrent	$	—	$	—	$	2,961	$	2,961
Total financial liabilities	$	—	$	—	$	2,961	$	2,961

(1)

Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets.

The carrying amounts of cash, accounts and note receivables, net, other receivables, accounts payable, due to related parties, and accrued liabilities approximate their fair values due to their short maturities.

Money market funds are valued by the Company based on quoted market prices, which represent a Level 1 measurement within the fair value hierarchy. U.S. treasury securities, commercial paper, corporate debt securities and U.S. government agency securities are valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy.

During the six months ended June 30, 2026 and the year ended December 31, 2025, there were no transfers of fair value measurement between Level 1 and Level 2 and no transfers into or out of Level 3 for both financial assets and liabilities.

Warrant Liability

In October 2023, Catalyst entered into a Securities Purchase Agreement for a private placement with GNI USA (the “Private Placement”). Upon closing of the Private Placement, the Company issued 811 shares of Series X Convertible Preferred Stock, par value $0.001 per share (the "Series X Preferred Stock"), and 811 warrants to purchase Series X Preferred Stock (the “Preferred Stock Warrants") to GNI USA for an aggregate purchase price of approximately $5.0 million. The Preferred Stock Warrants are immediately exercisable at an exercise price of $4,915.00 per share of Series X Preferred Stock and expire on October 30, 2033. The number of shares of Common Stock, par value $0.001 per share (“common stock”), issuable upon exercise and conversion of the Preferred Stock Warrants is 540,666. The Company accounted for the Private Placement as a non-arm’s length transaction. The Preferred Stock Warrants were initially recognized at fair value upon issuance and the remaining proceeds from the Private Placement were allocated to the Series X Preferred Stock.

The Preferred Stock Warrants are freestanding financial instruments classified as a warrant liability on the Company’s condensed consolidated balance sheet. The fair value of the Preferred Stock Warrants is subject to uncertainty due to unobservable inputs, including the expected volatility of the Company’s stock price, the likelihood of warrant exercise, and the estimated term of the warrants. Since there is limited market activity for the Preferred Stock Warrants, their fair value is determined using an option pricing model, which incorporates subjective inputs such as the Company’s stock price volatility, derived from historical and peer company data, as well as management’s expectations regarding future performance. As these assumptions evolve due to market conditions or company specific factors, the warrant liability may experience fluctuations. The Preferred Stock Warrants are revalued each reporting period with the change in fair value recorded as change in fair value of warrant liability in other income, net on the consolidated statement of operations and comprehensive income.

The fair value of the warrant liability is estimated based on the Black-Scholes option-pricing model using the following weighted-average assumptions:


	June 30, 2026			December 31, 2025 (As Recast)
Share price	$	6.59		$	7.06
Exercise price	$	4,915.00		$	4,915.00
Dividend yield		—	%		—	%
Risk-free interest		4.23	%		3.93	%
Term (years)	7.33			7.83
Expected volatility		84.00	%		81.00	%

The following table sets forth the changes in the estimated fair value of the Company’s Level 3 financial liabilities (in thousands):


	Warrant liability
Balance at December 31, 2025 (As Recast)	$	2,961
Changes in fair value		(220	)
Balance at June 30, 2026	$	2,741

Financial Instruments

Cash equivalents, available-for-sale, and held-to-maturity debt securities consisted of the following (in thousands):


June 30, 2026	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Money market funds (cash equivalents)	$	27,543	$	—	$	—		$	27,543
Short-term bank deposits		14,058		—		—			14,058
Long-term certificates of deposit		28,444		—		—			28,444
Short-term investments (available-for-sale securities)
US government agency securities		2,000		—		(10	)		1,990
Corporate debt securities		13,351		134		—			13,485
Commercial paper		1,978		—		(2	)		1,976
Total financial assets	$	87,374	$	134	$	(12	)	$	87,496
Classified as:
Cash and cash equivalents								$	27,543
Short-term bank deposits									14,058
Long-term certificates of deposit									28,444
Short-term investments									17,451
Total financial assets								$	87,496


December 31, 2025 (As Recast)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Money market funds (cash equivalents)	$	25,043	$	—	$	—	$	25,043
Short-term bank deposits		15,355		—		—		15,355
Long-term certificates of deposit		23,516		—		—		23,516
Short-term investments (available-for-sale securities)
US government agency securities		2,000		—		—		2,000
Corporate debt securities		22,866		280		—		23,146
Commercial paper		2,939		—		—		2,939
Total financial assets	$	91,719	$	280	$	—	$	91,999
Classified as:
Cash and cash equivalents							$	25,043
Short-term bank deposits								15,355
Long-term certificates of deposit								23,516
Short-term investments								28,085
Total financial assets							$	91,999

The fair value and amortized cost of the Company's held-to-maturity debt securities by redemption date were as follows:


	June 30, 2026
	Amortized Cost		Fair Value
Due in one year	$	14,058	$	14,058
Due in one to five years		28,444		28,444
Total	$	42,502	$	42,502

Interest income from the short-term bank deposits is recognized on an accrual basis over the term of the deposits. The accrued interest income for the three months ended June 30, 2026 and 2025 was $0.1 million and $0.1 million, respectively. The accrued interest income for the six months ended June 30, 2026 and 2025 was $0.2 million and $0.3 million, respectively.

Interest income from the long-term certificates of deposit is recognized on an accrual basis over the term of the deposits. The accrued interest income for the three months ended June 30, 2026 and 2025 was $0.2 million and $0.2 million, respectively. The accrued interest income for the six months ended June 30, 2026 and 2025 was $0.3 million and $0.3 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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+ Details

Net (Loss) Income per Share ("EPS") Attributable to Common Stockholders (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Basic and Diluted EPS Attributable to Common Stockholders

The following table sets forth the computation of EPS attributable to common stockholders, basic and diluted (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025 (As Recast)			2026			2025 (As Recast)
Numerator:
Net (loss) income	$	(14,270	)	$	(2,237	)	$	(32,849	)	$	2,702
Add: Accretion of Cullgen redeemable convertible preferred stock		(1,058	)		(2,642	)		(3,905	)		(5,220	)
Less: Allocation of undistributed loss to noncontrolling interest		(3,665	)		(2,835	)		(11,945	)		(2,644	)
Net (loss) income attributable to common stockholders - basic	$	(11,663	)	$	(2,044	)	$	(24,809	)	$	126
Less: Change in fair value of warrant liability		—			212			—			2,467
Net loss attributable to common stockholders - diluted	$	(11,663	)	$	(2,256	)	$	(24,809	)	$	(2,341	)

Denominator:
Basic common shares outstanding:
Weighted average common shares outstanding		100,637,599			89,119,344			96,003,117			87,295,099
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, basic		100,637,599			89,119,344			96,003,117			87,295,099

Dilutive potential common shares:
Weighted average of common stock options		—			—			—			—
Weighted average of preferred stock warrants (as converted)		—			83,794			—			135,068
Weighted average shares used in calculating net loss per share attributable to common stockholders, diluted		100,637,599			89,203,138			96,003,117			87,430,167

Net (loss) income per share attributable to common stockholders:
Basic	$	(0.12	)	$	(0.02	)	$	(0.26	)	$	0.00
Diluted	$	(0.12	)	$	(0.03	)	$	(0.26	)	$	(0.03	)

Anti-dilutive Security not Included in Diluted per Share Calculations

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Options to purchase common stock		21,201,749		18,978,531		21,201,749		19,043,331
Series B preferred stock (as converted)		18,486,175		—		18,486,175		—
Redeemable convertible preferred stock (as converted)		—		13,009,130		—		13,009,130
Warrants to purchase preferred stock (as converted)		540,666		—		540,666		—
Total		40,228,590		31,987,661		40,228,590		32,052,461

Fair Value Measurements and Financial Instruments - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2023	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value measurement transfer between Level 1 and Level 2		$ 0		$ 0		$ 0
Fair value measurement transfer Level 3		$ 0		$ 0		$ 0
Common stock, par value		$ 0.001		$ 0.001		$ 0.001
Warrants exercise price per share		$ 4,915		$ 4,915		$ 4,915
Accrued interest income from short term bank deposits		$ 100,000	$ 100,000	$ 200,000	$ 300,000
Accrued interest income from long term certificates of deposit		$ 200,000	$ 200,000	$ 300,000	$ 300,000
Preferred Stock Warrants
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Common stock, par value	$ 0.001
Warrants to purchase shares	811
Aggregate purchase price of warrants	$ 5,000,000
Warrants exercise price per share	$ 4,915
Expiration date	Oct. 30, 2033
Number of shares of common stock issuable upon exercise and conversion of warrants	540,666
Convertible Preferred Stock
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Preferred stock shares issued	811
Preferred stock, par value	$ 0.001

Balance Sheet Components - Schedule of Inventories, Net of Reserves (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Inventory, Net [Abstract]
Raw materials	$ 774	$ 970
Work in progress	7,710	6,307
Finished goods	2,944	2,894
Inventories, net	$ 11,428	$ 10,171

Leases (Tables)

6 Months Ended

Jun. 30, 2026

Lessee Disclosure [Abstract]

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to operating leases was as follows (in thousands):


	Six Months Ended June 30,
	2026		2025 (As Recast)
Cash paid for amounts included in the measurement of lease liabilities	$	584	$	718

Schedule of Present Value Assumptions used in Calculating Present Value of Lease Payments

The present value assumptions used in calculating the present value of the lease payments were as follows:


	June 30, 2026			December 31, 2025 (As Recast)
Weighted-average remaining lease term	5.1 years			5.4 years
Weighted-average discount rate		7.41	%		7.81	%

Schedule of Maturity of Operating Lease Liabilities

As of June 30, 2026, undiscounted future minimum payments under the Company’s operating leases were as follows (in thousands):


	Amount
Remaining in 2026	$	884
2027		1,117
2028		683
2029		222
2030		196
Thereafter		1,189
Total undiscounted lease payments		4,291
Less: imputed interest		(873	)
Total lease liabilities		3,418
Less: current portion of lease liabilities		(1,385	)
Lease liabilities, net of current portion	$	2,033

Stockholders' Equity - Schedule of Common Stock, Reserved for Future Issuance (Detail) - shares

Jun. 30, 2026

Dec. 31, 2025

Class of Stock [Line Items]

Total common stock reserved

24,225,610

24,120,936

Options Issued and Outstanding

Class of Stock [Line Items]

Total common stock reserved

23,684,944

^[1]

23,580,270

Preferred Stock Warrants Issued and Outstanding

Class of Stock [Line Items]

Total common stock reserved

540,666

[1]	Includes 5,476,086 options exercisable for shares of common stock, which underlying shares of common stock were transferred in the name of the Company to Futu Network Technology Limited, the stock plan administrator of the 2023 Omnibus Incentive Sub-Plan for Chinese participants.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock Based Compensation - Fair Values of Award Granted Estimated Using Black-Scholes Valuation Model (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Time-Based and Performance-Based Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average share price of the Company (USD per share)	$ 4.27	$ 7.01	$ 4.58	$ 7.32
Risk-free interest rate, minimum (%)	4.24%	3.92%	4.10%	3.92%
Risk-free interest rate, maximum (%)	4.31%	4.09%	4.31%	4.40%
Volatility, minimum (%)	80.60%	81.50%	79.30%	81.50%
Volatility, maximum (%)	85.10%	84.30%	85.10%	84.30%
Time-Based and Performance-Based Awards \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected option life (in years)	5 years 3 months 7 days	5 years 3 months 7 days	5 years 3 months 7 days	5 years 3 months 7 days
Time-Based and Performance-Based Awards \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected option life (in years)	6 years 29 days	6 years 29 days	6 years 29 days	6 years 4 months 28 days
Time-Based Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average share price of the Company (USD per share)	$ 7.22		$ 7.22
Risk-free interest rate (%)	3.58%		3.58%
Expected option life (in years)	7 years		7 years
Volatility (%)	130.30%		130.30%

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Effect of Retrospective Recast Resulting from Common-Control Merger


	Three Months Ended June 30,			Six Months Ended June 30,
	2025			2026			2025
Effect on net loss*	$	(3,812	)	$	(8,719	)	$	(2,608	)
Effect on net loss attributable to common stockholders		(2,485	)		(4,453	)		(3,014	)
Effect on other comprehensive (loss) income		37			163			79
Effect on basic net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)
Effect on diluted net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)

Schedule of Cash Balances By Investment Type and Applicable Deposit Insurance Coverage

The following table presents the Company's cash balances maintained in mainland China by investment type and the amount (in millions) that exceeded applicable deposit insurance coverage as of June 30, 2026 and December 31, 2025:


	June 30, 2026		December 31, 2025 (As Recast)
Cash and cash equivalents	13.6		15.3
Long-term certificates of deposit		28.4		23.5
Short-term bank deposits	14.1		15.4
Total cash, cash equivalents and bank deposits		56.1		54.2

Amount exceeding PRC DIS coverage	55.5		53.5

Summary of Significant Accounting Policies - Schedule of Cash Balances By Investment Type and Applicable Deposit Insurance Coverage (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Accounting Policies [Abstract]
Cash and cash equivalents	$ 13,600	$ 15,300
Long-term certificates of deposit	28,444	23,516
Short-term bank deposits	14,058	15,355
Total cash, cash equivalents and bank deposits	56,100	54,200
Amount exceeding PRC DIS coverage	$ 55,500	$ 53,500

Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2025	Nov. 20, 2025	Jan. 01, 2025	Jan. 01, 2024	Oct. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance	24,225,610	24,120,936
Number of shares authorized			2,100,000
Stock options were granted, exercise price	$ 7.57
Contractual term	10 years
Percentage of options vest immediately on grant date	25.00%
Percentage of vest in substantially equal monthly installments	35.00%
Service Period	24 months
Employee Stock Option Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized employee stock based compensation expense	$ 10.0
Unrecognized employee stock based compensation expense, period for recognition	2 years 6 months
2023 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding shares of common stock	5.00%
Common stock, shares reserved for future issuance				4,315,377	3,829,780	17,845,496
2018 Cullgen Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance	4,156,800
Vesting period of options	4 years
stock options granted Percentage	10.00%
Exchange Ratio	0.4753
2018 Cullgen Stock Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance	9,000,000
Stock options term	10 years
2018 Cullgen Stock Incentive Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options term	5 years

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Apr. 30, 2025	Jun. 28, 2024
Deferred Government Grants [Line Items]
Percentage of equity interest						18.35%
Total investment	$ 1,800		$ 1,800		$ 1,700
Long-term investments	1,599		1,599		1,591
Depreciation expense	1,100	$ 800	1,800	$ 1,300
Affiliates
Deferred Government Grants [Line Items]
Long-term investments	$ 1,600		$ 1,600		$ 1,600
Maximum
Deferred Government Grants [Line Items]
Investment obligation amount							$ 4,400
Percentage of equity interest							18.93%

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Net (Loss) Income per Share ("EPS") Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Net (Loss) Income per Share ("EPS") Attributable to Common Stockholders

10. Net (Loss) Income per Share (“EPS”) Attributable to Common Stockholders

The dilutive effect of outstanding stock options and warrants is calculated using the treasury stock method. Stock options and warrants are excluded from the diluted EPS attributable to common stock calculation if they have an anti-dilutive effect. If there is a net loss for the period, all options are excluded from the diluted EPS calculation.

The following table sets forth the computation of EPS attributable to common stockholders, basic and diluted (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025 (As Recast)			2026			2025 (As Recast)
Numerator:
Net (loss) income	$	(14,270	)	$	(2,237	)	$	(32,849	)	$	2,702
Add: Accretion of Cullgen redeemable convertible preferred stock		(1,058	)		(2,642	)		(3,905	)		(5,220	)
Less: Allocation of undistributed loss to noncontrolling interest		(3,665	)		(2,835	)		(11,945	)		(2,644	)
Net (loss) income attributable to common stockholders - basic	$	(11,663	)	$	(2,044	)	$	(24,809	)	$	126
Less: Change in fair value of warrant liability		—			212			—			2,467
Net loss attributable to common stockholders - diluted	$	(11,663	)	$	(2,256	)	$	(24,809	)	$	(2,341	)

Denominator:
Basic common shares outstanding:
Weighted average common shares outstanding		100,637,599			89,119,344			96,003,117			87,295,099
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, basic		100,637,599			89,119,344			96,003,117			87,295,099

Dilutive potential common shares:
Weighted average of common stock options		—			—			—			—
Weighted average of preferred stock warrants (as converted)		—			83,794			—			135,068
Weighted average shares used in calculating net loss per share attributable to common stockholders, diluted		100,637,599			89,203,138			96,003,117			87,430,167

Net (loss) income per share attributable to common stockholders:
Basic	$	(0.12	)	$	(0.02	)	$	(0.26	)	$	0.00
Diluted	$	(0.12	)	$	(0.03	)	$	(0.26	)	$	(0.03	)

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Options to purchase common stock		21,201,749		18,978,531		21,201,749		19,043,331
Series B preferred stock (as converted)		18,486,175		—		18,486,175		—
Redeemable convertible preferred stock (as converted)		—		13,009,130		—		13,009,130
Warrants to purchase preferred stock (as converted)		540,666		—		540,666		—
Total		40,228,590		31,987,661		40,228,590		32,052,461

Fair Value Measurements and Financial Instruments - Cash Equivalents, Available-for-Sale and Held-to-maturity Debt Securities (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 87,374	$ 91,719
Gross Unrealized Gains	134	280
Gross unrealized losses	(12)
Estimated Fair Value	87,496	91,999
Estimated Fair Value	17,451	28,085
Money Market Funds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	27,543	25,043
Estimated Fair Value	27,543	25,043
Short-term Bank Deposits
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	14,058	15,355
Estimated Fair Value	14,058	15,355
Long-term Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	28,444	23,516
Estimated Fair Value	28,444	23,516
Cash and Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	27,543	25,043
Short-term investments
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	17,451	28,085
Short-term investments \| US government agency securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	2,000	2,000
Gross unrealized losses	(10)
Estimated Fair Value	1,990	2,000
Short-term investments \| Corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	13,351	22,866
Gross Unrealized Gains	134	280
Estimated Fair Value	13,485	23,146
Short-term investments \| Commercial paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,978	2,939
Gross unrealized losses	(2)
Estimated Fair Value	$ 1,976	$ 2,939

Leases - Schedule of Present Value Assumptions used in Calculating Present Value of Lease Payments (Detail)	Jun. 30, 2026	Dec. 31, 2025
Lessee Disclosure [Abstract]
Weighted-average remaining lease term	5 years 1 month 6 days	5 years 4 months 24 days
Weighted-average discount rate	7.41%	7.81%

Intangible Assets - Schedule of Carrying Amounts and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Intangible assets with finite lives:
Gross carrying amount	$ 5,938	$ 5,750
Accumulated amortization	(1,413)	(1,023)
Total	4,525	4,727
Technological know-how
Intangible assets with finite lives:
Gross carrying amount	447	433
Accumulated amortization	(348)	(328)
Total	99	105
Computer software
Intangible assets with finite lives:
Gross carrying amount	352	337
Accumulated amortization	(209)	(176)
Total	143	161
Technology rights
Intangible assets with finite lives:
Gross carrying amount	5,139	4,980
Accumulated amortization	(856)	(519)
Total	$ 4,283	$ 4,461

Leases - Additional Information (Detail) $ in Thousands		3 Months Ended		6 Months Ended
Leases - Additional Information (Detail) $ in Thousands	May 04, 2026	Jun. 30, 2026 USD ($) m²	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) m²	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Lessee Lease Description [Line Items]
Short-term lease expenses \| $		$ 18	$ 32	$ 35	$ 48
Right-of-use assets \| $		3,279		3,279		$ 3,609
Operating lease, liability \| $		3,418		3,418
Operating lease expense \| $		400	$ 500	900	$ 800
Security deposits \| $		$ 500		$ 500
Combined square meter area for manufacturing facilities under lease \| m²		66,559		66,559
Land use rights, net assets \| $		$ 1,500		$ 1,500
Beijing [Member]
Lessee Lease Description [Line Items]
Square meter area for office space under lease \| m²		2,130		2,130
Lease expiration month and year				2027-06
Square meter area for staff dormitory under lease \| m²		249		249
Staff dormitory lease expiration month and year				2028-03
Zhengzhou [Member]
Lessee Lease Description [Line Items]
Square meter area for laboratory center under lease \| m²		180		180
Lease expiration month and year				2026-08
Shanghai [Member]
Lessee Lease Description [Line Items]
Square meter area for laboratory center under lease \| m²		224		224
Lease expiration month and year				2026-12
Shanghai [Member] \| Cullgen [Member] \| Minimum [Member]
Lessee Lease Description [Line Items]
Lease expiration month and year				2026-11
Shanghai [Member] \| Cullgen [Member] \| Maximum [Member]
Lessee Lease Description [Line Items]
Lease expiration month and year				2037-02
Nanjing [Member]
Lessee Lease Description [Line Items]
Square meter area for laboratory center under lease \| m²		70		70
Lease expiration month and year				2027-02
California [Member]
Lessee Lease Description [Line Items]
Lease termination month and year	2026-07
California [Member] \| Cullgen [Member]
Lessee Lease Description [Line Items]
Lease expiration month and year				2028-07

Balance Sheet Components - Schedule of Other Assets, Noncurrent (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Other Assets, Noncurrent Disclosure [Abstract]
Right-of-use assets	$ 3,279	$ 3,609
Land use rights, net	1,450	1,425
Long-term investments	1,599	1,591
Other assets, noncurrent	1,016	999
Other assets, noncurrent	$ 7,344	$ 7,624

Stock Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Stock Based Compensation

9. Stock Based Compensation

2023 Omnibus Incentive Plan

The Gyre Therapeutics, Inc. 2023 Omnibus Incentive Plan (the “2023 Omnibus Incentive Plan”) was approved by Catalyst’s stockholders in August 2023 and ratified by Gyre’s Board in October 2023. The 2023 Omnibus Incentive Plan became effective on October 30, 2023. The 2023 Omnibus Incentive Plan permits the Company to issue up to 17,845,496 shares of common stock and will automatically increase by the lesser of (i) 5% of the total number of outstanding shares of common stock on December 31st of the preceding calendar year and (ii) such smaller number of shares of common stock as determined by Gyre's Board on the first day of each fiscal year beginning on January 1, 2024. On January 1, 2024, pursuant to the automatic increase in the number of shares reserved, an additional 3,829,780 shares of common stock were reserved and made available for issuance under the 2023 Omnibus Incentive Plan. On January 1, 2025, pursuant to the automatic increase in the number of shares reserved, an additional 4,315,377 shares of common stock were reserved and made available for issuance under the 2023 Omnibus Incentive Plan. During the six months ended June 30, 2025, certain members of senior management were granted both awards subject solely to time-based vesting requirements and awards that are subject to the achievement of certain levels of specific performance, in addition to time-based vesting requirements (the “Performance-Based Awards”). These Performance-Based Awards are subject to the achievement of certain sales metrics and approval of Hydronidone for commercialization and may vest in full after two or three years. The awards become eligible to vest only if the goals are achieved and will vest only if the grantee remains employed by us through each applicable vesting date.

On November 20, 2025, the Company granted non-qualified stock options to employees of Gyre Pharmaceuticals, pursuant to the 2023 Omnibus Incentive Sub-Plan for Chinese Participants under the Company’s equity incentive arrangements. The awards covered an aggregate of 2,100,000 shares of common stock and were granted as part of the Company’s employee compensation program.

The stock options were granted with an exercise price of $7.57 per share and have a contractual term of ten years from the grant date, subject to earlier termination upon cessation of employment. The awards generally vest based on a combination of time-based and performance-based vesting conditions. Specifically, 25% of the options vest immediately on the grant date, 35% vest in substantially equal monthly installments over a 24-month service period, and the remaining options are subject to the achievement of specified performance targets related to the Company’s consolidated revenue and the employee’s individual performance for the 2025 and 2026 calendar years. Performance-Based Awards vest only if the applicable performance conditions are achieved and the employee remains in service through the applicable vesting determination date.

The following table summarizes 2023 Omnibus Incentive Plan activity for the six months ended June 30, 2026:


	Number of Shares Underlying Outstanding Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2025		19,483,378		$	3.27		5.9
Options granted		620,000			6.44		9.8
Options exercised		(269,229	)		0.77		—
Options forfeited and cancelled		(286,824	)		9.89
Outstanding — June 30, 2026		19,547,325		$	3.14		5.8
Exercisable — June 30, 2026		17,471,542		$	2.48		5.5

Valuation Assumptions

The Company estimated the fair value of time-based stock options granted using the Black-Scholes option-pricing formula and a single option award approach. Due to its limited relevant historical data, the Company estimated its volatility considering a number of factors, including the use of the volatility of comparable public companies. The expected term of options granted under the 2023 Omnibus Incentive Plan, all of which qualify as “plain vanilla” per SEC Staff Accounting Bulletin 107, is determined based on the simplified method due to the Company’s limited relevant history. The risk-free rate is based on the yield of a U.S. Treasury security with a term consistent with the option. This fair value is being amortized ratably over the requisite service periods of the awards, which is generally the vesting period.

The Company also granted performance-based stock options that vest under two types of independent performance conditions. One condition is tied to a certain sales target that is deemed not probable as of June 30, 2026. The other condition is tied to the approval in the PRC of a New Drug Application (“NDA”) for Hydronidone. The grant-date fair value of these awards was determined using the Black-Scholes Option Pricing Model, which incorporates key inputs such as stock price, exercise price, expected volatility, risk-free interest rate, time to expiration, and a zero-dividend yield.

The following table shows the weighted-average grant date fair value of options and the assumptions used to estimate the fair value for time-based awards, and for performance-based awards during the three and six months ended June 30, 2026 and 2025:


	Three Months Ended June 30,						Six Months Ended June 30,
Time-based and performance-based awards	2026			2025			2026			2025
Weighted-average grant-date fair value	$	4.27		$	7.01		$	4.58		$	7.32
Risk-free interest rate (%)	4.24% - 4.31%			3.92% - 4.09%			4.10% - 4.31%			3.92% - 4.40%
Expected option life (in years)	5.27 - 6.08			5.27 - 6.08			5.27 - 6.08			5.27 - 6.41
Expected dividend yield (%)		—	%		—	%		—	%		—	%
Volatility (%)	80.6% - 85.1%			81.5% - 84.3%			79.3% - 85.1%			81.5% - 84.3%

Amended and Restated 2018 Cullgen Stock Incentive Plan (the “Cullgen Plan”)

The Cullgen Plan provides for the issuance of stock-based awards, including stock options, restricted stock awards, restricted stock units, and other equity-based awards, to officers, directors, employees, and consultants of Cullgen. The plan authorized issuance of up to 9,000,000 shares of Cullgen common stock. Stock options granted under the plan generally vest over four years, are exercisable at prices determined by the board of directors at the date of grant, and expire no later than ten years from issuance or five years for incentive stock options granted to a 10% stockholder.

In connection with the Merger, the Company assumed and amended and restated the 2018 Cullgen Stock Incentive Plan and all outstanding stock options and other equity awards granted thereunder. Each outstanding Cullgen equity award was converted into the right to receive 0.4753 shares (the “Exchange Ratio”) with respect to the Company's common stock, with corresponding adjustments to the number of shares subject to each award and the exercise price, as applicable (hereinafter the “Assumed Awards”). The Assumed Awards have the same terms and conditions including any vesting provisions and any provisions providing for accelerated vesting upon certain events as were applicable under such incentive plan as of immediately prior to the Merger.

As of the acquisition date, 4,156,800 shares of the Company's common stock were reserved for issuance upon the exercise or vesting of the Assumed Awards. The Company accounts for the Assumed Awards in accordance with ASC 718, Compensation—Stock Compensation.

The following table summarizes Cullgen stock option activity for the six months ended June 30, 2026 on a post conversion basis:


	Number of Shares Underlying Outstanding Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2025		4,096,892		$	2.02		5.0
Options granted		71,295			8.09		9.7
Options exercised		(7,228	)		3.12
Options forfeited and cancelled		(23,340	)		5.06		—
Outstanding — June 30, 2026		4,137,619		$	2.11		4.6
Exercisable — June 30, 2026		3,695,361		$	1.65		4.1

Valuation Assumptions

The Company estimated the fair value of time-based stock options granted using the Black-Scholes option-pricing formula and a single option award approach. Due to its limited relevant historical data, the Company estimated its volatility considering a number of factors, including the use of the volatility of comparable public companies. The expected term of options granted under the Cullgen Plan, all of which qualify as “plain vanilla” per SEC Staff Accounting Bulletin 107, is determined based on the simplified method due to the Company’s limited relevant history. The risk-free rate is based on the yield of a U.S. Treasury security with a term consistent with the option. This fair value is being amortized ratably over the requisite service periods of the awards, which is generally the vesting period.


	Three Months Ended June 30,				Six Months Ended June 30,
Time-based awards	2026			2025	2026			2025
Weighted-average grant-date fair value	$	7.22		n/a	$	7.22		n/a
Risk-free interest rate (%)		3.58	%	n/a		3.58	%	n/a
Expected option life (in years)		7.0		n/a		7.0		n/a
Expected dividend yield (%)		—	%	n/a		—	%	n/a
Volatility (%)		130.3	%	n/a		130.3	%	n/a

Total stock-based compensation expense recognized was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Cost of revenues	$	122	$	47	$	300	$	47
Selling and marketing		661		29		1,646		29
Research and development		79		62		194		143
General and administrative		971		982		2,518		1,724
Total stock-based compensation expense	$	1,833	$	1,120	$	4,658	$	1,943

As of June 30, 2026, the Company had an unrecognized stock-based compensation expense of $10.0 million, related to unvested stock option awards, which is expected to be recognized over an estimated weighted-average period of 2.5 years.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2026	Aug. 01, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Trading Symbol	GYRE
Entity Registrant Name	Gyre Therapeutics, Inc.
Entity Central Index Key	0001124105
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		111,509,849
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity File Number	000-51173
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-2020050
Entity Address, Address Line One	12730 High Bluff Drive
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	284-0115
Document Quarterly Report	true
Document Transition Report	false

Balance Sheet Components - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	$ 39,984	$ 38,551
Less: Accumulated depreciation	(12,700)	(11,002)
Property and equipment, net	27,284	27,549
Buildings
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	20,297	19,568
Construction in Progress
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	566	765
Machinery and Electronic Devices
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	10,432	9,895
Furniture and Fixtures
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	904	823
Motor Vehicles
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	195	189
Equipment
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	5,242	5,073
Leasehold improvements
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	$ 2,348	$ 2,238

Income Taxes

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Income Taxes

12. Income Taxes

During the three and six months ended June 30, 2026 and 2025, the Company recorded the following income tax provision (in thousands) and effective tax rate:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025 (As Recast)			2026			2025 (As Recast)
(Benefit) provision for income tax	$	(164	)	$	662		$	385		$	1,563
Effective tax rate		1.14	%		-42.03	%		-1.19	%		36.65	%

The change in effective tax rate for the three and six months ended June 30, 2026 and 2025 was primarily due to the business combination with Cullgen and the increase of R&D expenditures. The Company expects to incur income tax expense for the current period as a result of the impact of valuation allowance. Accordingly, the effective tax rate for the six months ended June 30, 2026 was negative. The Company’s income tax provision reflects the retrospective presentation of the common-control combination with Cullgen.

As of June 30, 2026, after consideration of certain limitations (see below), the Company had approximately $193.3 million federal and $21.7 million state net operating loss (“NOL”) carryforwards for U.S. tax purposes available to reduce future taxable income which, if unused, will begin to expire in 2037 for federal and 2034 for state tax purposes. The federal net operating loss carryforward includes $191.9 million that have an indefinite life.

If the Company experiences a greater than 50 percentage point aggregate change in ownership over a three-year period (a Section 382 ownership change), utilization of its pre-change NOL carryforwards is subject to annual limitation under Section 382 of the Internal Revenue Code (California has similar provisions). The annual limitation is determined by multiplying the value of the Company’s stock immediately before such ownership change by the applicable long-term tax-exempt rate. Such limitations may result in expiration of a portion of the NOL carryforwards before utilization. The Company determined that ownership changes under Section 382 occurred on December 31, 2007, August 20, 2015, April 13, 2017, February 15, 2018, February 18, 2020, and December 26, 2022. Approximately $156.5 million and $75.2 million of the NOLs will expire unutilized for federal and California state income tax purposes, respectively. The ability of the Company to use its remaining NOL and credit carryforwards may be further limited if the Company experiences a Section 382 ownership change as a result of future changes in its stock ownership.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet Components - Schedule of Prepaid Assets and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Prepaid Expense and Other Assets, Current [Abstract]
Deferred transaction cost	$ 0	$ 3,831
Prepaid VAT	394	262
Other tax recoverable	1,207	1,949
Other deposits	112	203
Advances to suppliers	5,878	3,354
Interest Receivable	10	14
Prepaid Assets and Other Current Assets	$ 7,601	$ 9,613

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Common Control Merger and Retrospective Recast

Effect of Change in Reporting Entity


	Three Months Ended June 30,			Six Months Ended June 30,
	2025			2026			2025
Effect on net loss*	$	(3,812	)	$	(8,719	)	$	(2,608	)
Effect on net loss attributable to common stockholders		(2,485	)		(4,453	)		(3,014	)
Effect on other comprehensive (loss) income		37			163			79
Effect on basic net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)
Effect on diluted net loss per share attributable to common stockholders	$	(0.03	)	$	(0.05	)	$	(0.03	)

Use of Estimates

Noncontrolling Interest

Series B Convertible Preferred Stock

Segments

Risks and Uncertainities

Risks and Uncertainties

Concentration of Credit Risk


	June 30, 2026		December 31, 2025 (As Recast)
Cash and cash equivalents	13.6		15.3
Long-term certificates of deposit		28.4		23.5
Short-term bank deposits	14.1		15.4
Total cash, cash equivalents and bank deposits		56.1		54.2

Amount exceeding PRC DIS coverage	55.5		53.5

Concentration of Customer Risk

Pharmaceutical Product Sales

Collaboration-Based Revenue

As of June 30, 2026 and December 31, 2025, the Company had one customer, Sinopharm, who accounted for approximately 45.5% and 53.3% of accounts receivable, respectively.

Foreign Currency Risk

Accounting Pronouncements Recently Adopted

Accounting Pronouncements – Recently Adopted

New Accounting Pronouncements Issued and Not Yet Adopted

Subsequent Events

Fair Value Measurements and Financial Instruments - Summary of Assumptions to Fair Value of Warrant Liability Based on Black-Scholes Option Pricing Model (Detail)	Jun. 30, 2026 $ / shares	Dec. 31, 2025 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants share price per share	$ 6.59	$ 7.06
Warrants exercise price per share	$ 4,915	$ 4,915
Term (years)	7 years 3 months 29 days	7 years 9 months 29 days
Risk-Free Interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	4.23	3.93
Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	84	81

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements and Financial Instruments - Summary of Fair Value and Amortized Cost of Held-to-maturity Debt Securities by Redemption Date (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Amortized Cost
Due in one year	$ 14,058
Due in one to five years	28,444
Total	42,502
Fair Value
Due in one year	14,058
Due in one to five years	28,444
Total	$ 42,502

Related Party Transactions

6 Months Ended

Jun. 30, 2026

Related Party Transactions

13. Related Party Transactions

Research and Development with GNI Group

Research and development expenses for the services received from Shanghai Genomics, Inc (“ Shanghai Genomics”), a wholly-owned subsidiary of GNI Group, were $5.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively. Research and development expenses for the related services received from Shanghai Genomics were $5.1 million and $0.2 million for the six months ended June 30, 2026 and 2025, respectively. The amounts for the three and six months ended June 30, 2026 included a milestone payment of RMB 33.1 million (approximately $4.9 million, based on the June 30, 2026 spot exchange rate) recognized under the Hydronidone Transfer Agreement upon the submission and acceptance of the Hydronidone NDA by the Center for Drug Evaluation (“CDE”) of the National Medical Products Administration (“NMPA”). As of June 30, 2026, the related payment has been accrued under due to related parties in the condensed consolidated balance sheets. No payments for such services were made to entities controlled by GNI Group during the three and six months ended June 30, 2026 and 2025. As of June 30, 2026 and December 31, 2025, the Company had related parties payables of $5.1 million and $0.2 million due to GNI Group.

Other Receivables from GNI

As of June 30, 2026 and December 31, 2025, the Company had recorded $0.2 million in other receivables from GNI Group, all of which related to Continent Pharmaceuticals Inc.'s (“CPI”) restructuring transaction.

Operating Lease with Shanghai Genomics, Inc.

As of June 30, 2026 and December 31, 2025, operating lease ROU assets and operating lease liabilities recognized for leases were as follows (in thousands):


	June 30,			December 31,
	2026			2025 (As Recast)
Operating lease right-of-use assets	$	1,661		$	1,296
Operating lease liabilities, current	$	(210	)		(96	)
Operating lease liabilities, non-current	$	(1,468	)		(1,227	)

The related lease expense recognized from related parties included in “Research and development expenses” and “General and administrative expenses” in the condensed consolidated statements of operations and comprehensive (loss) income were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Research and development expenses	$	19	$	74	$	103	$	149
General and administrative expenses		60		-		60		-
Total	$	79	$	74	$	163	$	149

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
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-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes 2023 Omnibus Incentive Plan activity for the six months ended June 30, 2026:


	Number of Shares Underlying Outstanding Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2025		19,483,378		$	3.27		5.9
Options granted		620,000			6.44		9.8
Options exercised		(269,229	)		0.77		—
Options forfeited and cancelled		(286,824	)		9.89
Outstanding — June 30, 2026		19,547,325		$	3.14		5.8
Exercisable — June 30, 2026		17,471,542		$	2.48		5.5

The following table summarizes Cullgen stock option activity for the six months ended June 30, 2026 on a post conversion basis:


	Number of Shares Underlying Outstanding Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding — December 31, 2025		4,096,892		$	2.02		5.0
Options granted		71,295			8.09		9.7
Options exercised		(7,228	)		3.12
Options forfeited and cancelled		(23,340	)		5.06		—
Outstanding — June 30, 2026		4,137,619		$	2.11		4.6
Exercisable — June 30, 2026		3,695,361		$	1.65		4.1

Summary of Weighted-Average Grant Date Fair Value of Options and The Assumptions Used to Estimate Those Fair Value for Time-Based and Performance-Based Awards


	Three Months Ended June 30,						Six Months Ended June 30,
Time-based and performance-based awards	2026			2025			2026			2025
Weighted-average grant-date fair value	$	4.27		$	7.01		$	4.58		$	7.32
Risk-free interest rate (%)	4.24% - 4.31%			3.92% - 4.09%			4.10% - 4.31%			3.92% - 4.40%
Expected option life (in years)	5.27 - 6.08			5.27 - 6.08			5.27 - 6.08			5.27 - 6.41
Expected dividend yield (%)		—	%		—	%		—	%		—	%
Volatility (%)	80.6% - 85.1%			81.5% - 84.3%			79.3% - 85.1%			81.5% - 84.3%


	Three Months Ended June 30,				Six Months Ended June 30,
Time-based awards	2026			2025	2026			2025
Weighted-average grant-date fair value	$	7.22		n/a	$	7.22		n/a
Risk-free interest rate (%)		3.58	%	n/a		3.58	%	n/a
Expected option life (in years)		7.0		n/a		7.0		n/a
Expected dividend yield (%)		—	%	n/a		—	%	n/a
Volatility (%)		130.3	%	n/a		130.3	%	n/a

Summary of Stock-Based Compensation Expense Recognized

Total stock-based compensation expense recognized was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Cost of revenues	$	122	$	47	$	300	$	47
Selling and marketing		661		29		1,646		29
Research and development		79		62		194		143
General and administrative		971		982		2,518		1,724
Total stock-based compensation expense	$	1,833	$	1,120	$	4,658	$	1,943

Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Assets


5.	Intangible Assets

Intangible assets with finite lives consist primarily of patents, technological know-how, computer software, and technology rights. Technology rights refer to the intellectual property (“IP”) associated with EtorelTM (nintedanib, ethanesulfonate soft capsules) (the “EtorelTM IP Rights”), which were obtained upon the successful transfer of the marketing authorization holder following approval by the PRC National Medical Products Administration (the “NMPA”) in March 2025, and the commercial sales of EtorelTM commenced in June 2025. As of June 30, 2026, the Company recognized the total consideration for the EtorelTM technology rights in the amount of RMB 35.0 million, or approximately $5.1 million, based on the June 30, 2026 spot exchange rate.

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2026 and December 31, 2025 were as follows (in thousands):


	June 30, 2026
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	447	$	(348	)	$	99
Computer software		352		(209	)		143
Technology rights		5,139		(856	)		4,283
Total intangible assets	$	5,938	$	(1,413	)	$	4,525


	December 31, 2025 (As Recast)
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	433	$	(328	)	$	105
Computer software		337		(176	)		161
Technology rights		4,980		(519	)		4,461
Total intangible assets	$	5,750	$	(1,023	)	$	4,727

Intangible assets are carried at cost less accumulated amortization and impairment, if applicable, and the amortization expense is recorded in operating expenses. The weighted average amortization period for the intangible assets was 6.5 years as of June 30, 2026, compared to 7.0 years as of December 31, 2025.

Amortization expense was $179 thousand and $167 thousand for the three months ended June 30, 2026 and 2025, respectively. Amortization expense was $354 thousand and $234 thousand for the six months ended June 30, 2026 and 2025, respectively. Based on finite-lived intangible assets recorded as of June 30, 2026, the estimated future amortization expense is as follows (in thousands):


	Estimated amortization expense
2026	$	358
2027		713
2028		683
2029		681
2030		670
Thereafter		1,420
Total	$	4,525

Stock Based Compensation - Summary of Stock Option Activity (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2026 $ / shares shares	Dec. 31, 2025 $ / shares shares
2023 Omnibus Incentive Plan
Number of Shares Underlying Outstanding Options
Number of Shares Underlying Outstanding Options, Beginning Balance \| shares	19,483,378
Number of Shares Underlying Outstanding Options, Options granted \| shares	620,000
Number of Shares Underlying Outstanding Options, Options exercised \| shares	(269,229)
Number of Shares Underlying Outstanding Options, Options forfeited and cancelled \| shares	(286,824)
Number of Shares Underlying Outstanding Options, Ending Balance \| shares	19,547,325	19,483,378
Number of Shares Underlying Outstanding Options, Exercisable- March 31, 2026 \| shares	17,471,542
Weighted- Average Exercise Price
Weighted- Average Exercise Price, Beginning Balance \| $ / shares	$ 3.27
Weighted- Average Exercise Price, Options granted \| $ / shares	6.44
Weighted- Average Exercise Price, Options Exercised \| $ / shares	0.77
Weighted- Average Exercise Price, Options forfeited and cancelled \| $ / shares	9.89
Weighted- Average Exercise Price, Ending Balance \| $ / shares	3.14	$ 3.27
Weighted- Average Exercise Price, Exercisable - March 31, 2026 \| $ / shares	$ 2.48
Weighted-Average Remaining Contractual Term (Years)
Weighted-Average Remaining Contractual Term (Years), Outstanding Balance	5 years 9 months 18 days	5 years 10 months 24 days
Weighted Average Remaining Contractual Term, Options granted	9 years 9 months 18 days
Weighted Average Remaining Contractual Term, Exercisable - March 31, 2026	5 years 6 months
2018 Cullgen Stock Incentive Plan
Number of Shares Underlying Outstanding Options
Number of Shares Underlying Outstanding Options, Beginning Balance \| shares	4,096,892
Number of Shares Underlying Outstanding Options, Options granted \| shares	71,295
Number of Shares Underlying Outstanding Options, Options exercised \| shares	(7,228)
Number of Shares Underlying Outstanding Options, Options forfeited and cancelled \| shares	(23,340)
Number of Shares Underlying Outstanding Options, Ending Balance \| shares	4,137,619	4,096,892
Number of Shares Underlying Outstanding Options, Exercisable- March 31, 2026 \| shares	3,695,361
Weighted- Average Exercise Price
Weighted- Average Exercise Price, Beginning Balance \| $ / shares	$ 2.02
Weighted- Average Exercise Price, Options granted \| $ / shares	8.09
Weighted- Average Exercise Price, Options Exercised \| $ / shares	3.12
Weighted- Average Exercise Price, Options forfeited and cancelled \| $ / shares	5.06
Weighted- Average Exercise Price, Ending Balance \| $ / shares	2.11	$ 2.02
Weighted- Average Exercise Price, Exercisable - March 31, 2026 \| $ / shares	$ 1.65
Weighted-Average Remaining Contractual Term (Years)
Weighted-Average Remaining Contractual Term (Years), Outstanding Balance	4 years 7 months 6 days	5 years
Weighted Average Remaining Contractual Term, Options granted	9 years 8 months 12 days
Weighted Average Remaining Contractual Term, Exercisable - March 31, 2026	4 years 1 month 6 days

Intangible Assets - Additional Information (Detail) $ in Thousands, ¥ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 CNY (¥)	Jun. 30, 2026 USD ($)	Dec. 31, 2025
Intangible Asset, Finite-Lived [Line Items]
Finite-lived intangible assets, Weighted average amortization period					6 years 6 months	6 years 6 months	7 years
Amortization of intangible assets	$ 179	$ 167	$ 354	$ 234
Etorel IP Rights
Intangible Asset, Finite-Lived [Line Items]
Total consideration of intangible assets					¥ 35.0	$ 5,100

- Definition

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

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- Definition

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+ Details

Stock Based Compensation - Summary of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 1,833	$ 1,120	$ 4,658	$ 1,943
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	122	47	300	47
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	971	982	2,518	1,724
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	79	62	194	143
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 661	$ 29	$ 1,646	$ 29

Intangible Assets - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]
2026	$ 358
2027	713
2028	683
2029	681
2030	670
Thereafter	1,420
Total	$ 4,525	$ 4,727

Revenue - Summary of Sales by Product Categories (Detail) - Product - Sales - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total Product Revenue	$ 29,105	$ 29,734	$ 53,535	$ 60,305
Total Product Revenue, Percentage	100.00%	100.00%	100.00%	100.00%
ETUARY
Disaggregation of Revenue [Line Items]
Total Product Revenue	$ 27,959	$ 23,516	$ 48,926	$ 45,223
Total Product Revenue, Percentage	96.10%	79.10%	91.40%	75.00%
Contiva
Disaggregation of Revenue [Line Items]
Total Product Revenue	$ 883	$ 1,500	$ 1,732	$ 1,779
Total Product Revenue, Percentage	3.00%	5.00%	3.20%	3.00%
Etorel
Disaggregation of Revenue [Line Items]
Total Product Revenue	$ 255	$ 1,597	$ 927	$ 1,596
Total Product Revenue, Percentage	0.90%	5.40%	1.70%	2.60%
Other Products
Disaggregation of Revenue [Line Items]
Total Product Revenue		$ 158	$ 31	$ 231
Total Product Revenue, Percentage	0.00%	0.50%	0.10%	0.40%
Collaborations
Disaggregation of Revenue [Line Items]
Total Product Revenue	$ 8	$ 2,963	$ 1,919	$ 11,476
Total Product Revenue, Percentage	0.00%	10.00%	3.60%	19.00%

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 43,287,000	$ 49,192,000
Short-term bank deposits	14,058,000	15,355,000
Short-term investment	17,451,000	28,085,000
Notes receivable	232,000	5,638,000
Accounts receivables, net	27,760,000	31,078,000
Inventories, net	11,428,000	10,171,000
Prepaid assets and other current assets	7,601,000	9,613,000
Total current assets	122,072,000	149,362,000
Property and equipment, net	27,284,000	27,549,000
Intangible assets, net	4,525,000	4,727,000
Long-term prepayments	302,000	112,000
Deferred tax assets	9,284,000	6,873,000
Long-term certificates of deposit	28,444,000	23,516,000
Other assets, noncurrent	7,344,000	7,624,000
Total assets	199,255,000	219,763,000
Current liabilities:
Accounts payable	1,236,000	1,335,000
Due to related parties	5,085,000	227,000
Accrued expenses and other current liabilities	18,810,000	18,161,000
Income tax payable	2,147,000	2,940,000
Operating lease liabilities, current	1,385,000	1,119,000
Total current liabilities	28,663,000	23,782,000
Operating lease liabilities, noncurrent	2,033,000	2,303,000
Deferred government grants	829,000	852,000
Warrant liability, noncurrent	2,741,000	2,961,000
Other noncurrent liabilities	70,000	1,506,000
Total liabilities	34,336,000	31,404,000
Commitments and Contingencies (Note 11)
Stockholders' equity:
Common stock, $0.001 par value, 400,000,000 shares authorized; 106,033,763 shares and 91,314,007 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	106,000	91,000
Additional paid-in capital	240,644,000	172,819,000
Statutory reserve	3,648,000	3,098,000
Accumulated deficit	(137,962,000)	(112,603,000)
Accumulated other comprehensive income (loss)	1,492,000	(908,000)
Total Gyre stockholders' equity	107,928,000	62,497,000
Noncontrolling interest	34,561,000	(2,952,000)
Total equity	142,489,000	59,545,000
Total liabilities, Series B preferred stock, redeemable convertible preferred stock, and stockholders' equity	199,255,000	219,763,000
GNI
Current assets:
Other receivables from GNI	255,000	230,000
Series B Preferred Stock
Current liabilities:
Temporary Equity, Carrying Amount	22,430,000	0
Redeemable Convertible Preferred Stock
Current liabilities:
Temporary Equity, Carrying Amount	0	15,784,000
Redeemable Convertible Preferred Stock \| Cullgen
Current liabilities:
Redeemable convertible preferred stock	$ 0	$ 113,030,000

Leases - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flow, Operating Activities, Lessee [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 584	$ 718

Net (Loss) Income per Share ("EPS") Attributable to Common Stockholders - Anti-dilutive Security not Included In Diluted per Share Calculations (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	40,228,590	31,987,661	40,228,590	32,052,461
Options To Purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	21,201,749	18,978,531	21,201,749	19,043,331
Series B Preferred Stock (as Converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	18,486,175		18,486,175
Redeemable Convertible Preferred Stock (as Converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities		13,009,130		13,009,130
Warrants to Purchase Preferred Stock (as Converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive securities	540,666		540,666

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues	$ 29,105	$ 29,734	$ 53,535	$ 60,305
Operating expenses:
Cost of revenues	2,209	1,151	3,436	2,045
Selling and marketing	13,754	15,195	27,890	26,035
Research and development		8,351		16,442
General and administrative	7,867	7,277	18,043	15,481
Transaction costs	502		6,886
Total operating expenses	43,468	31,974	86,872	60,003
(Loss) income from operations	(14,363)	(2,240)	(33,337)	302
Other (loss) income, net:
Interest income	740	941	1,483	1,797
Other expense, net	(943)	(488)	(830)	(301)
Change in fair value of warrant liability	132	212	220	2,467
(Loss) Income before income taxes	(14,434)	(1,575)	(32,464)	4,265
Benefit (provision) for income taxes	164	(662)	(385)	(1,563)
Net (loss) income	(14,270)	(2,237)	(32,849)	2,702
Accretion of Cullgen redeemable convertible preferred stock	(1,058)	(2,642)	(3,905)	(5,220)
Net loss attributable to noncontrolling interest	(3,665)	(2,835)	(11,945)	(2,644)
Net (loss) income attributable to common stockholders	$ (11,663)	$ (2,044)	$ (24,809)	$ 126
Net (loss) income per share attributable to common stockholders, basic	$ (0.12)	$ (0.02)	$ (0.26)	$ 0
Net (loss) income per share attributable to common stockholders, diluted	$ (0.12)	$ (0.03)	$ (0.26)	$ (0.03)
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, basic	100,637,599	89,119,344	96,003,117	87,295,099
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, diluted	100,637,599	89,203,138	96,003,117	87,430,167
Other comprehensive (loss) income:
Net (loss) income from consolidated operations	$ (14,270)	$ (2,237)	$ (32,849)	$ 2,702
Reclassification adjustment for gains (loss) included in net (loss) income	0	12	(8)	8
Unrealized loss on short-term investments	(286)	(22)	(337)	(4)
Foreign currency translation adjustments	1,959	348	4,138	547
Less: Allocation of undistributed loss to noncontrolling interest	(3,665)	(2,835)	(11,945)	(2,644)
Reclassification adjustment for gains (loss) included in net loss attributable to noncontrolling interest	0	7	(5)	5
Unrealized loss on short-term investments attributable to noncontrolling interest	(268)	(13)	(299)	(2)
Foreign currency translation adjustments attributable to noncontrolling interest	593	133	1,321	210
Comprehensive loss attributable to noncontrolling interest	(3,340)	(2,708)	(10,928)	(2,431)
Comprehensive (loss) income attributable to common stockholders	(10,315)	(1,833)	(22,033)	464
Related Party
Operating expenses:
Research and development	4,836		4,836
Non-Related Party
Operating expenses:
Research and development	$ 14,300	$ 8,351	$ 25,781	$ 16,442

Stockholders' Equity

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Stockholders' Equity


8.	Stockholders’ Equity

Merger With Cullgen

On May 4, 2026, the Company completed its merger with Cullgen. Pursuant to the Merger Agreement, all outstanding shares of Cullgen common stock and redeemable convertible preferred stock were converted into shares of the Company's common stock or Series B Convertible Preferred Stock based on the exchange ratios specified in the Merger Agreement. 57,821,355 shares of Cullgen redeemable convertible preferred stock and 10,023,615 shares of Cullgen common stock were converted into an aggregate of 3,697,235 shares of the Company's Series B Convertible Preferred Stock and 14,450,527 shares of the Company's common stock. Upon completion of the Merger, no shares of Cullgen common stock or redeemable convertible preferred stock remained outstanding. Cullgen redeemable convertible preferred stock carrying amount was adjusted to the redemption amount as of the balance sheet date and immediately before the Merger Closing Date in accordance with ASC 480-10-S99. The redeemable convertible preferred stock that was held by shareholders other than GNI Japan was separately disclosed as Redeemable noncontrolling interests — Cullgen redeemable convertible preferred stock on the unaudited condensed consolidated balance sheet as of December 31, 2025.

Common Stock

Common stock reserved for future issuance is as follows:


	June 30, 2026			December 31, 2025 (As Recast)
Options issued and outstanding		23,684,944	(1)		23,580,270
Preferred Stock Warrants issued and outstanding		540,666			540,666
Total common stock reserved		24,225,610			24,120,936

2024 ATM Program

On November 27, 2024, the Company entered into an Open Market Sale Agreement (the “ATM Agreement”) with Jefferies LLC (the “Sales Agent”) as sales agent, pursuant to which the Company may offer and sell, from time to time, through the Sales Agent, shares of common stock with aggregate gross sales proceeds of up to $50.0 million through an at-the-market offering program (the “ATM Program”). The Company will pay the Sales Agent a commission of up to 3% of the gross proceeds of any shares sold. The Company also agreed to reimburse the Sales Agent for certain expenses incurred in connection with its services under the ATM Agreement, including up to $135,000 for legal expenses in connection with the establishment of the ATM Program. During the six months ended June 30, 2025, the Company sold 54,734 shares of common stock under ATM Program and received net proceeds of $0.5 million, after deducting commissions and offering costs of $8.6 thousand. During the six months ended June 30, 2026, there were no sales under the ATM Program.

Sales of shares of common stock under the ATM Program may be made pursuant to the registration statement on Form S-3 (File No. 333-283237), which was declared effective by the SEC on November 22, 2024 (the “Shelf Registration Statement”), and a related prospectus supplement filed with the SEC on November 27, 2024.

May 2025 Underwritten Public Offering

On May 22, 2025, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Jefferies LLC, as representative of the several underwriters (the “Underwriters”), pursuant to which the Company agreed to issue and sell 2,222,222 shares of common stock, at a public offering price of $9.00 per share (the “Offering”). In addition, the Company granted the Underwriters an option for a period of 30 days to purchase up to an additional 333,333 shares of common stock at the public offering price, less the underwriting discounts and commissions (the “Greenshoe Option”).

The Offering closed on May 27, 2025. On May 29, 2025, the Underwriters exercised the Greenshoe Option in full, and the issuance of the additional 333,333 shares was settled on the same day.

The Offering was made pursuant to the Shelf Registration Statement, as supplemented by a prospectus supplement, dated May 22, 2025, filed with the SEC on May 23, 2025.

Restricted Net Assets

Under PRC laws and regulations, Gyre Pharmaceuticals is subject to restrictions on foreign exchange and cross-border cash transfers, including to parent companies and U.S. stockholders. The ability to distribute earnings to the parent companies and U.S. stockholders is also limited. Current PRC regulations permit Gyre Pharmaceuticals to pay dividends to BJContinent Pharmaceuticals Limited (“BJC”) only out of its accumulated profits as determined in accordance with PRC accounting standards and regulations. Amounts restricted include paid-in capital and the statutory reserves of Gyre Pharmaceuticals. The aggregate amounts of restricted capital and statutory reserves, which represented the amount of net assets of the relevant subsidiaries not available for distribution were $131.6 million and $128.1 million as of June 30, 2026 and December 31, 2025, respectively.

Statutory Reserve

Gyre Pharmaceuticals is required to set aside at least 10% of its after-tax profits as the statutory reserve fund until the cumulative amount of the statutory reserve fund reaches 50% or more of its registered capital, if any, to fund its statutory reserves, which are not available for distribution as cash dividends. At the Company’s discretion, the Company may allocate a portion of after-tax profits based on PRC accounting standards to a discretionary reserve fund. Appropriations to these reserves were $0.6 million and $0.0 million for the six months ended June 30, 2026 and 2025, respectively.

Noncontrolling Interest

The noncontrolling interests in the Company’s consolidated financial statements represent the economic interests in Gyre Pharmaceuticals held by shareholders other than BJC and four other holding company subsidiaries of the Company. As of June 30, 2026, the Company’s indirect ownership in Gyre Pharmaceuticals is 69.7%.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions - Schedule of Operating Lease Cost Recognized for Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Related Party Transaction [Line Items]
Operating lease right-of-use assets	$ 3,279	$ 3,609
Operating lease liabilities, current	(1,385)	(1,119)
Operating lease liabilities, non-current	(2,033)	(2,303)
Shanghai Genomics, Inc.
Related Party Transaction [Line Items]
Operating lease right-of-use assets	1,661	1,296
Operating lease liabilities, current	(210)	(96)
Operating lease liabilities, non-current	$ (1,468)	$ (1,227)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Revenue

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue


6.	Revenue

The Company’s product revenues were mainly generated from the sale of ETUARYTM. The Company launched two new products: ContivaTM (avatrombopag maleate tablets), which commenced commercialization in March 2025, and EtorelTM, which commenced commercialization in June 2025. The Company also generated collaboration revenue from a collaboration agreement with a strategic partner. Collaboration revenue consists primarily of upfront nonrefundable payments and reimbursements for research and development services performed under these arrangements. The following table summarizes the composition of Company's revenues for the three and six months ended June 30, 2026 and 2025 (in thousands):


	Three Months Ended June 30,									Six Months Ended June 30,
Revenue Composition	2026				2025 (As Recast)					2026				2025 (As Recast)
ETUARYTM	$	27,959	96.1	%		$	23,516	79.1	%	$	48,926	91.4	%		$	45,223	75.0	%
ContivaTM		883	3.0	%			1,500	5.0	%		1,732	3.2	%			1,779	3.0	%
EtorelTM		255	0.9	%			1,597	5.4	%		927	1.7	%			1,596	2.6	%
Other Products		—	0.0	%			158	0.5	%		31	0.1	%			231	0.4	%
Collaborations		8	0.0	%			2,963	10.0	%		1,919	3.6	%			11,476	19.0	%
Total	$	29,105	100	%		$	29,734	100	%	$	53,535	100	%		$	60,305	100	%

Sales of Pharmaceutical Products

The Company generates revenue mostly through sales of ETUARYTM, ContivaTM, EtorelTM and certain generic drugs. The distributors were the Company’s direct customers, and sales to distributors accounted for 100.0% of pharmaceutical products revenue. The distributors sell pharmaceutical products to outlets, including hospitals and other medical institutions, as well as pharmacies.

Product returns to date have not been significant and the Company has not considered it necessary to record a reserve for product returns. The Company’s product revenues were recognized at a point in time when the underlying product was delivered to the customer, which was when the customer obtained control of the product. Revenue from sales of pharmaceutical products was $29.1 million and $26.8 million for the three months ended June 30, 2026 and 2025, respectively. Revenue from sales of pharmaceutical products was $51.6 million and $48.8 million for the six months ended June 30, 2026 and 2025, respectively. All sales are generated in the PRC. Contract liabilities recognized for the three and six months ended June 30, 2026 were immaterial.

Collaborations

In June 2023, Cullgen entered into a Collaboration, Option and License Agreement (the “Astellas Agreement”) with Astellas Pharma Inc. to discover multiple innovative protein degraders, including cell cycle and DNA repair degraders. Upon execution of the agreement, Cullgen received a nonrefundable upfront payment and is entitled to reimbursement for research and development services performed under the agreement. The Astellas Agreement ended in March 2026.

The Company determined that the Astellas Agreement is within the scope of ASC 606 and identified two performance obligations related to the pre-exercise research activities for the cell cycle and DNA repair programs. The upfront payment was allocated to the performance obligations based on their relative standalone selling prices. Revenue associated with the upfront payment and research reimbursements is recognized over time using a cost-based measure of progress.

Contract liabilities primarily consist of the unrecognized portion of the upfront payment received under the Astellas Agreement and are recognized as revenue as the related performance obligations are satisfied. Contract liabilities as of June 30, 2026 related to the Astellas Agreement were immaterial. Contract liabilities were $1.0 million as of December 31, 2025, and the Company recognized $1.0 million in revenue from the contract liabilities during the six months ended June 30, 2026.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Information

15. Segment Information

The Company is a consolidated entity comprised of two reporting segments: Gyre Pharmaceuticals, and Gyre. The Company’s reportable segments are based upon internal organizational structure, the manner in which operations are managed, the criteria used by the CODM to evaluate segment performance, the availability of separate financial information, and overall materiality considerations. Gyre's operations are primarily located in the United States and Shanghai, China, and Gyre Pharmaceuticals' operations are primarily located in mainland China.

Gyre Pharmaceuticals

Gyre Pharmaceuticals has three major commercial drug products, ETUARYTM, EtorelTM, and ContivaTM—as well as several product candidates in pre-clinical and clinical development. Gyre Pharmaceuticals’ product revenues are mainly generated from the sale of ETUARYTM, EtorelTM, ContivaTM and certain generic drugs. Gyre Pharmaceuticals primarily sells its pharmaceutical products to distributors in the PRC, who ultimately sell the products to hospitals, other medical institutions and pharmacies.

Gyre

Gyre is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies for the treatment of cancer, inflammatory diseases and organ fibrosis. The Company's pipeline includes F351 for the treatment of MASH-associated liver fibrosis in the United States, as well as targeted protein degrader and degrader-antibody conjugate therapies under development including CG001419 for pain and solid tumors and CG009301 for acute myeloid leukemia (“AML”) in China. The Company is primarily engaged in research and development activities and does not currently generate commercial product revenue.

Segment information for the three and six months ended June 30, 2026 and 2025 is as follows (in thousands):


	Three Months Ended June 30, 2026
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	29,097		$	8		$	29,105
Operating expenses
Cost of revenues		2,209			—			2,209
Selling and marketing		13,754			—			13,754
Research and development		9,697			4,603			14,300
Research and development - related parties		4,836			—			4,836
General and administrative		4,268			3,594			7,862
Transaction costs		—			502			502
Total segment operating expenses		34,764			8,699			43,463
Loss from segment operations		(5,667	)		(8,691	)		(14,358	)
Other segment (loss) income, net:
Interest income		252			488			740
Other expense, net		(391	)		(552	)		(943	)
Change in fair value of warrant liability		—			132			132
Benefit (provision) for income taxes		165			(1	)		164
Net segment (loss) income	$	(5,641	)	$	(8,624	)	$	(14,265	)
Reconciliation of profit or loss
Other general and administrative expenses								5
Total Consolidated net loss							$	(14,270	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	122		$	—		$	122
Selling and marketing		661			—			661
Research and development		79			—			79
General and administrative		344			627			971
Stock-based compensation total	$	1,206		$	627		$	1,833


	Six Months Ended June 30, 2026
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	51,616		$	1,919		$	53,535
Operating expenses
Cost of revenues		3,436			—			3,436
Selling and marketing		27,890			—			27,890
Research and development		15,163			10,618			25,781
Research and development - related parties		4,836			—			4,836
General and administrative		9,025			9,007			18,032
Transaction costs		—			6,886			6,886
Total segment operating expenses		60,350			26,511			86,861
Loss from segment operations		(8,734	)		(24,592	)		(33,326	)
Other segment (loss) income, net:
Interest income		517			966			1,483
Other expense, net		(818	)		(12	)		(830	)
Change in fair value of warrant liability		—			220			220
Benefit (provision) for income taxes		(456	)		71			(385	)
Net segment loss	$	(9,491	)	$	(23,347	)	$	(32,838	)
Reconciliation of profit or loss
Other general and administrative expenses								11
Consolidated net loss							$	(32,849	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	300		$	—		$	300
Selling and marketing		1,646			—			1,646
Research and development		194			—			194
General and administrative		779			1,739			2,518
Stock-based compensation total	$	2,919		$	1,739		$	4,658


	Three Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	26,771		$	2,963		$	29,734
Operating expenses:
Cost of revenues		1,151			—			1,151
Selling and marketing		15,195			—			15,195
Research and development		3,337			5,014			8,351
General and administrative		2,858			4,417			7,275
Total segment operating expenses		22,541			9,431			31,972
Income (loss) from segment operations		4,230			(6,468	)		(2,238	)
Other segment (loss) income, net:
Interest income		271			670			941
Other (expense) income, net		(507	)		19			(488	)
Change in fair value of warrant liability		-			212			212
Provision for income taxes		(662	)		-			(662	)
Net segment income (loss)	$	3,332		$	(5,567	)	$	(2,235	)
Reconciliation of profit or loss
Other general and administrative expenses								2
Total Consolidated net loss							$	(2,237	)
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	47		$	—		$	47
Selling and marketing		29			—			29
General and administrative		273			709			982
Research and development		—			62			62
Stock-based compensation total	$	349		$	771		$	1,120


	Six Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals			Gyre			Total
Revenues	$	48,829		$	11,476		$	60,305
Operating expenses:
Cost of revenues		2,045			—			2,045
Selling and marketing		26,035			—			26,035
Research and development		6,366			10,076			16,442
General and administrative		6,414			9,062			15,476
Total segment operating expenses		40,860			19,138			59,998
Income (loss) from segment operations		7,969			(7,662	)		307
Other segment (loss) income, net:
Interest income		555			1,242			1,797
Other (expense) income, net		(729	)		428			(301	)
Change in fair value of warrant liability		—			2,467			2,467
Provision for income taxes		(1,563	)		—			(1,563	)
Net segment income (loss)	$	6,232		$	(3,525	)	$	2,707
Reconciliation of profit or loss
Other general and administrative expenses								5
Total Consolidated net loss							$	2,702
Supplemental disclosure of stock-based compensation expense:
Cost of revenue	$	47		$	—		$	47
Selling and marketing		29			—			29
General and administrative		351			1,373			1,724
Research and development		—			143			143
Stock-based compensation total	$	427		$	1,516		$	1,943

The table below presents total assets as of June 30, 2026 and December 31, 2025.


	June 30, 2026
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Total assets	$	139,241	$	59,657	$	357	$	199,255


	December 31, 2025 (As Recast)
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Total assets	$	138,407	$	81,000	$	356	$	219,763

The table below only includes cash outflows for the purchase of property and equipment and excludes non-cash activities.


	Six Months Ended June 30, 2026
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Purchase of property and equipment	$	386	$	54	$	—	$	440


	Six Months Ended June 30, 2025 (As Recast)
	Gyre Pharmaceuticals		Gyre		Other Unallocated Amount		Consolidated
Purchase of property and equipment	$	378	$	79	$	—	$	457

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

Stockholders' Equity - Additional Information (Detail) - USD ($)					3 Months Ended		6 Months Ended
	May 04, 2026	May 29, 2025	May 22, 2025	Nov. 27, 2024	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Stockholders Equity Disclosure [Line Items]
Proceeds from the issuance of common stock								$ 23,000,000
Aggregate amounts of restricted capital and statutory reserves							$ 131,600,000			$ 128,100,000
Statutory reserve fund							10.00%
Cumulative amount of statutory reserve fund							50.00%
Appropriations to statutory reserve							$ 600,000	$ 0
Common Stock
Stockholders Equity Disclosure [Line Items]
Shares outstanding					90,822,828	87,636,209	106,033,763	90,822,828	91,337,121	91,314,007	86,307,544
Issuance of Common Stock (in shares)					2,555,555	54,734
Merger With Cullgen
Stockholders Equity Disclosure [Line Items]
Conversion of stock	10,023,615
Merger With Cullgen \| Common Stock
Stockholders Equity Disclosure [Line Items]
Conversion of stock	14,450,527
Shares outstanding							0
Redeemable Convertible Preferred Stock \| Merger With Cullgen
Stockholders Equity Disclosure [Line Items]
Preferred stock, shares issued upon conversion	57,821,355
Shares outstanding							0
Series B Preferred Stock (as Converted) \| Merger With Cullgen
Stockholders Equity Disclosure [Line Items]
Conversion of stock	3,697,235
Gyre \| Gyre Pharmaceuticals
Stockholders Equity Disclosure [Line Items]
Minority interest ownership indirectly holds							69.70%
Cullgen
Stockholders Equity Disclosure [Line Items]
Minority interest ownership indirectly holds							61.50%
2024 ATM Program
Stockholders Equity Disclosure [Line Items]
Proceeeds from issuance of aggregate gross sales				$ 50,000,000
Percentage of commission for shares sold				3.00%
Legal expenses incurred				$ 135,000
Issuance of Common Stock (in shares)							0	54,734
Proceeds from the issuance of common stock								$ 500,000
Commissions and offering costs								$ 8,600,000
May 2025 Underwritten Public Offering
Stockholders Equity Disclosure [Line Items]
Common stock issue and sold			2,222,222
Public offering price			$ 9
Underwriters option period			30 days
Greenshoe Option
Stockholders Equity Disclosure [Line Items]
Common stock issue and sold			333,333
Issuance of additional shares settled		333,333

Summary of Significant Accounting Policies - Additional Information (Detail)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2015 CNY (¥)	Jun. 30, 2026 USD ($)	Jun. 30, 2025	Jun. 30, 2026 USD ($) Segment	Jun. 30, 2025	Dec. 31, 2025 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segment \| Segment				2
Number of reportable segment \| Segment				2
Deposits in licensed banks spot exchange rate				$ 73,412
Cash and cash equivalents		$ 43,287,000		43,287,000		$ 49,192,000
Long-term certificates of deposit		28,444,000		28,444,000		23,516,000
Short-term bank deposits		$ 14,058,000		$ 14,058,000		$ 15,355,000
Percentage of cash and cash equivalents		31.50%		31.50%
Percentage of short-term bank deposit reporting currency denominated		100.00%		100.00%
Percentage of long-term certificates of deposits reporting currency denominated		100.00%		100.00%
Cash and cash equivalents denominated in RMB		$ 13,600,000		$ 13,600,000
Customer Concentration Risk \| Sinopharm Group Co., Ltd \| Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration of customer risk		48.70%	48.00%	44.70%	42.00%
Customer Concentration Risk \| Sinopharm Group Co., Ltd \| Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration of customer risk				45.50%		53.30%
Customer Concentration Risk \| China Resources Pharmaceutical Group Ltd \| Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration of customer risk		11.60%	11.90%	12.50%	10.40%
Customer Concentration Risk \| Shanghai Pharmaceuticals Holding Co., Ltd \| Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration of customer risk		12.20%	11.30%	12.30%	11.20%
Credit Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents		$ 43,300,000		$ 43,300,000		$ 49,200,000
General bank deposits		4,700,000		4,700,000
Investment related cash		20,500,000		20,500,000
Credit Concentration Risk \| UNITED STATES
Summary Of Significant Accounting Policies [Line Items]
Cash balances exceeded federal deposit insurance corporation insurance limit		4,400,000		4,400,000
Cash balances exceeded securities investor protection corporation insurance limit		15,100,000		15,100,000
Maximum
Summary Of Significant Accounting Policies [Line Items]
Deposits in licensed banks protected by DIS \| ¥	¥ 500,000
Maximum \| Credit Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
FDIC insured deposits amount per depositor		250,000		250,000
Amount of securities investor protection corporation protects customer assets held limit		$ 500,000		$ 500,000
ASU 2025-05
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2026		Jan. 01, 2026
Change in accounting principle, accounting standards update, adopted		true		true
Change in accounting principle, accounting standards update, immaterial effect		true		true

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Operating Lease Cost Recognized for Leases

As of June 30, 2026 and December 31, 2025, operating lease ROU assets and operating lease liabilities recognized for leases were as follows (in thousands):


	June 30,			December 31,
	2026			2025 (As Recast)
Operating lease right-of-use assets	$	1,661		$	1,296
Operating lease liabilities, current	$	(210	)		(96	)
Operating lease liabilities, non-current	$	(1,468	)		(1,227	)

Schedule of Related Party Transactions


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025 (As Recast)		2026		2025 (As Recast)
Research and development expenses	$	19	$	74	$	103	$	149
General and administrative expenses		60		-		60		-
Total	$	79	$	74	$	163	$	149

Related Party Transactions - Schedule of Related Party Transactions (Details) - Shanghai Genomics, Inc. - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Related Party Transaction [Line Items]
Research and development expenses	$ 19	$ 74	$ 103	$ 149
General and administrative expenses	60	0	60	0
Total	$ 79	$ 74	$ 163	$ 149

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(e)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
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-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(15)(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(15)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 970
-SubTopic 810
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477383/970-810-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

+ Details

Leases - Schedule of Maturity of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remaining in 2026	$ 884
2027	1,117
2028	683
2029	222
2030	196
Thereafter	1,189
Total undiscounted lease payments	4,291
Less: imputed interest	(873)
Total lease liabilities	3,418
Less current portion of lease liabilities	(1,385)	$ (1,119)
Lease liabilities, net of current portion	$ 2,033	$ 2,303

Balance Sheet Components

6 Months Ended

Jun. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components


4.	Balance Sheet Components

Inventories

Inventories as of June 30, 2026 and December 31, 2025, respectively, consisted of the following components (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Raw materials	$	774	$	970
Work in progress		7,710		6,307
Finished goods		2,944		2,894
Inventories, net	$	11,428	$	10,171

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Accrued payroll and welfare	$	7,247	$	8,953
Accrued professional services		2,182		352
Payable to property and equipment & intangible asset suppliers		2,311		2,161
Accrued sales rebates		2,826		1,382
Payable to selling expense suppliers		516		270
Accrued expenses - research and development		1,817		1,115
Accrued expenses - general and administrative		903		1,796
Deferred government grants		189		97
Employee reimbursement		100		12
Other accrued liabilities		490		839
Withholding individual income tax on employee stock options		205		—
Contract liabilities		24		1,184
Accrued expenses and other current liabilities	$	18,810	$	18,161

Accounts and Note Receivables, Net

Accounts and note receivables, net consisted of the following (in thousands):


	June 30, 2026			December 31, 2025 (As Recast)
Accounts receivable	$	28,079		$	31,229
Note receivable		232			5,638
Allowance for credit losses		(319	)		(151	)
Accounts and note receivables, net	$	27,992		$	36,716

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2026			December 31, 2025 (As Recast)
Buildings	$	20,297		$	19,568
Construction in progress		566			765
Machinery and electronic devices		10,432			9,895
Furniture and fixtures		904			823
Motor vehicles		195			189
Equipment		5,242			5,073
Leasehold improvements		2,348			2,238
Property and equipment, gross		39,984			38,551
Less: Accumulated depreciation		(12,700	)		(11,002	)
Property and equipment, net	$	27,284		$	27,549

Depreciation expense was $1.1 million and $0.8 million for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense was $1.8 million and $1.3 million for the six months ended June 30, 2026 and 2025, respectively.

Prepaid Assets and Other Current Assets

Prepaid assets and other current assets consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Deferred transaction cost	$	—	$	3,831
Prepaid VAT		394		262
Other tax recoverable		1,207		1,949
Other deposits		112		203
Advances to suppliers		5,878		3,354
Interest Receivable		10		14
Prepaid Assets and Other Current Assets	$	7,601	$	9,613

Other Assets, Noncurrent

Other assets, noncurrent consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Right-of-use assets	$	3,279	$	3,609
Land use rights, net		1,450		1,425
Long-term investment		1,599		1,591
Other assets, noncurrent		1,016		999
Other assets, noncurrent	$	7,344	$	7,624

Long-Term Investment Measured Under Equity Method

On June 28, 2024, Gyre Pharmaceuticals entered into a partnership agreement as a limited partner with other investors and is obligated to pay $4.4 million for an 18.93% equity interest in the partnership. In April 2025, a new investor joined the partnership agreement, and as a result, Gyre Pharmaceuticals’ equity interest was adjusted to 18.35%. Pursuant to the partnership agreement, Gyre Pharmaceuticals, as a limited partner, shall not participate in any activities related to the management of the investment business. However, Gyre Pharmaceuticals may appoint a member to the advisory committee of the partnership.

As of June 30, 2026 and December 31, 2025, the Company's total investment into the partnership was $1.8 million and $1.7 million, respectively, and the carrying value of the Company’s long-term investment in this affiliate, which was included in “Other assets, noncurrent” on the balance sheet, was $1.6 million and $1.6 million, respectively.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net (loss) income	$ (32,849)	$ 2,702
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Stock-based compensation	4,658	1,943
Equity in loss of unconsolidated affiliate	43	38
Depreciation and amortization	2,155	1,544
Noncash lease expense	441	818
Deferred income taxes, net	(2,164)	(491)
Bad debt expense and other non-cash items	160	25
Accrued interest on long-term certificates of deposit	105	189
Accretion of premium or discount on short-term investments	(10)	(44)
Change in fair value of financial liabilities, net	(220)	(2,467)
Foreign currency exchange Gain	39	40
Loss on disposal of property and equipment	18	1
Changes in operating assets and liabilities:
Notes receivable	5,374	3,879
Accounts receivable	4,100	(4,966)
Inventories	(921)	(2,495)
Prepaid and other assets	2,065	(704)
Income tax payable	(877)	(1,753)
Accounts payable	(110)	454
Deferred revenue		(8,205)
Due to related parties	4,800
Accrued expenses and other liabilities	181	2,423
Net proceeds from CVR liability settlement		25
Operating lease liabilities	(536)	(559)
Net cash used in operating activities	(13,548)	(7,603)
Investing Activities
Acquisition of intangible assets	(1,029)	(722)
Purchase of certificates of deposit	(15,875)	(19,184)
Purchase of available for sale securities	(2,032)	(11,224)
Proceeds of available for sale securities	13,068	11,699
Purchase of property and equipment	(440)	(457)
Proceeds from sale of equipment	13	19
Proceeds from maturity of certificates of deposit	12,997	23,190
Net cash provided by investing activities	6,702	3,321
Financing Activities
Payments of listing expense	(208)	(2,106)
Deferred financing costs paid		(1,802)
Proceeds from the exercise of stock options	221	1,988
Proceeds from the issuance of common stock		23,000
Net cash provided by financing activities	13	21,589
Effect of exchange rate changes on cash	928	10
Net (decrease) increase in cash	(5,905)	17,317
Cash at beginning of the period	49,192	39,048
Cash at end of period	43,287	56,365
Supplement disclosure of non-cash operating activities:
Right-of-use asset obtained in exchange for operating lease liabilities		1,602
Supplemental Disclosure of Non-Cash Financing and Investing Activities:
Accretion of Cullgen redeemable convertible preferred stock	$ 5,220	3,905
Purchase of property and equipment and intangible assets included in accrued expenses and other liabilities		36
Unpaid listing expense included in accrued expenses		127
ATM Program
Financing Activities
Proceeds from the issuance of common stock		$ 509

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2007
CALIFORNIA
Income Tax [Line Items]
Net operating loss carryforwards	$ 75.2
Federal Income Tax
Income Tax [Line Items]
Net operating loss carryforwards	$ 193.3	$ 156.5
Net operating loss carryforwards expiration year	2037
Net operating loss carryforwards having indefinite life	$ 191.9
State Income Tax
Income Tax [Line Items]
Net operating loss carryforwards	$ 21.7
Net operating loss carryforwards expiration year	2034

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	106,033,763	91,314,007
Common stock, shares outstanding	106,033,763	91,314,007
Redeemable Convertible Preferred Stock
Temporary equity, par value	$ 0.001	$ 0.001
Temporary equity, shares authorized	5,000,000	5,000,000
Temporary equity, shares issued	0	2,601,826
Temporary equity, shares outstanding	0	2,601,826
Series B Preferred Stock [Member]
Temporary equity, par value	$ 0.001	$ 0.001
Temporary equity, shares authorized	5,000,000	5,000,000
Temporary equity, shares issued	3,697,235	0
Temporary equity, shares outstanding	3,697,235	0

Revenue (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Summary of Sales by Product Categories

The following table summarizes the composition of Company's revenues for the three and six months ended June 30, 2026 and 2025 (in thousands):


	Three Months Ended June 30,									Six Months Ended June 30,
Revenue Composition	2026				2025 (As Recast)					2026				2025 (As Recast)
ETUARYTM	$	27,959	96.1	%		$	23,516	79.1	%	$	48,926	91.4	%		$	45,223	75.0	%
ContivaTM		883	3.0	%			1,500	5.0	%		1,732	3.2	%			1,779	3.0	%
EtorelTM		255	0.9	%			1,597	5.4	%		927	1.7	%			1,596	2.6	%
Other Products		—	0.0	%			158	0.5	%		31	0.1	%			231	0.4	%
Collaborations		8	0.0	%			2,963	10.0	%		1,919	3.6	%			11,476	19.0	%
Total	$	29,105	100	%		$	29,734	100	%	$	53,535	100	%		$	60,305	100	%

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventories, Net of Reserves

Inventories as of June 30, 2026 and December 31, 2025, respectively, consisted of the following components (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Raw materials	$	774	$	970
Work in progress		7,710		6,307
Finished goods		2,944		2,894
Inventories, net	$	11,428	$	10,171

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Accrued payroll and welfare	$	7,247	$	8,953
Accrued professional services		2,182		352
Payable to property and equipment & intangible asset suppliers		2,311		2,161
Accrued sales rebates		2,826		1,382
Payable to selling expense suppliers		516		270
Accrued expenses - research and development		1,817		1,115
Accrued expenses - general and administrative		903		1,796
Deferred government grants		189		97
Employee reimbursement		100		12
Other accrued liabilities		490		839
Withholding individual income tax on employee stock options		205		—
Contract liabilities		24		1,184
Accrued expenses and other current liabilities	$	18,810	$	18,161

Schedule of Accounts and Note Receivable, Net

Accounts and note receivables, net consisted of the following (in thousands):


	June 30, 2026			December 31, 2025 (As Recast)
Accounts receivable	$	28,079		$	31,229
Note receivable		232			5,638
Allowance for credit losses		(319	)		(151	)
Accounts and note receivables, net	$	27,992		$	36,716

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2026			December 31, 2025 (As Recast)
Buildings	$	20,297		$	19,568
Construction in progress		566			765
Machinery and electronic devices		10,432			9,895
Furniture and fixtures		904			823
Motor vehicles		195			189
Equipment		5,242			5,073
Leasehold improvements		2,348			2,238
Property and equipment, gross		39,984			38,551
Less: Accumulated depreciation		(12,700	)		(11,002	)
Property and equipment, net	$	27,284		$	27,549

Schedule of Prepaid Assets and Other Current Assets

Prepaid assets and other current assets consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Deferred transaction cost	$	—	$	3,831
Prepaid VAT		394		262
Other tax recoverable		1,207		1,949
Other deposits		112		203
Advances to suppliers		5,878		3,354
Interest Receivable		10		14
Prepaid Assets and Other Current Assets	$	7,601	$	9,613

Schedule of Other Assets, Noncurrent

Other assets, noncurrent consisted of the following (in thousands):


	June 30, 2026		December 31, 2025 (As Recast)
Right-of-use assets	$	3,279	$	3,609
Land use rights, net		1,450		1,425
Long-term investment		1,599		1,591
Other assets, noncurrent		1,016		999
Other assets, noncurrent	$	7,344	$	7,624

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Litigation and Legal Matters

The Company is subject to claims and legal proceedings that arise in the ordinary course of business. Such matters are inherently uncertain, and there can be no guarantee that the outcome of any such matter will be decided favorably to the Company or that the resolution of any such matter will not have a material adverse effect upon the Company’s condensed consolidated financial statements.

Purchasing Commitments

Property and Equipment

The Company’s commitments related to purchase of property and equipment contracted but not yet reflected in the condensed consolidated financial statements were $1.2 million as of June 30, 2026 and were expected to be incurred within one year.

EtorelTM IP Rights

In May 2024, the Company entered into an IP rights transfer agreement with a third-party, Jiangsu Wangao Pharmaceuticals Co., Ltd., to acquire the “EtorelTM IP Rights”. The EtorelTM IP Rights are recorded as technology rights in Intangible Assets in Note 5 — Intangible Assets. The commercial sales of EtorelTM commenced in June 2025.

According to the agreement, except for RMB 35.0 million, or approximately $5.1 million based on the June 30, 2026 spot exchange rate, the Company is committed to additional annual payments over eight years following the commencement of commercial sales in June 2025, which will be contingent consideration based on actual annual sales in future years. For each of the first two years starting from June 2025, the minimum annual commission is RMB 10 million, or approximately $1.5 million, based on the June 30, 2026 spot exchange rate, which has already been included in the IP cost. If the sales-based commission calculated at 5% of annual sales in the first year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate) or the commission calculated at 4% of annual sales in the second year exceeds RMB 10 million (approximately $1.5 million, based on the June 30, 2026 spot exchange rate), the excess amount for each year will be recognized as contingent consideration. For the third year through the eighth year, the contingent payments will be calculated at 3%, 2%, 2%, 1%, 1%, and 1% of sales in each year, respectively.

As of June 30, 2026, the Company assessed the possibility that annual sales commissions in the second year would exceed RMB 10 million, or approximately $1.5 million, based on the June 30, 2026 spot exchange rate, as remote and did not accrue any contingent consideration.

As of June 30, 2026, the total accrued contract consideration was $1.8 million, which was recorded under accrued expenses and other current liabilities.

Hydronidone (F351)

In September 2020, Gyre Pharmaceuticals entered into an IP transfer agreement (the “Hydronidone Transfer Agreement”) with GNI Japan and certain of its wholly owned subsidiaries (the “GNI Group”). According to the Hydronidone Transfer Agreement, Gyre Pharmaceuticals acquired the exclusive right to use Hydronidone IP rights in mainland China and the right of first offer for the global IP rights (the “Hydronidone IP Rights”).

Under the Hydronidone Transfer Agreement, in exchange for the Hydronidone IP Rights, Gyre Pharmaceuticals is obligated to pay RMB 8.3 million, or approximately $1.2 million, based on the June 30, 2026 spot exchange rate, after the NDA passes the NMPA’s Center for Food and Drug Review and Inspection’s on-site registration inspection for the Hydronidone product; and RMB 49.6 million, or approximately $7.3 million, based on the June 30, 2026 spot exchange rate upon NMPA’s approval of the NDA. As of June 30, 2026, the next payment conditions have not been met; as such, no payments have been accrued.

Upon Hydronidone product achieving commercialization, the Company will be required to make annual royalty payments based on future product sales. These contingent payments are structured as twelve annual royalties equal to 10%, 14%, 16%, 16%, 16%, 16%, 16%, 15%, 14%, 12%, 10%, and 8% of annual sales. As of June 30, 2026, commercialization has not yet been achieved, and no royalty payments have been incurred or accrued.

SDM Service

In December 2025, the Company entered into a clinical trial service agreement with a third-party contract research organization in connection with a Phase 3C confirmatory clinical trial for Hydronidone (the “SDM Clinical Trial Agreement”). The Phase 3C trial is designed to evaluate clinical endpoint events and satisfy the safety exposure requirements for the potential conditional approval and subsequent conventional marketing authorization of Hydronidone capsules.

Under the SDM Clinical Trial Agreement, the Company is obligated to make payments based on the achievement of specified clinical and operational milestones and the performance of clinical trial–related services, including trial preparation, patient enrollment and follow-up, site management, interim analyses, data management–related activities, and preparation of the clinical study report. The aggregate contractual amount under the agreement is approximately RMB 114.0 million, or approximately $16.7 million, based on the June 30, 2026 spot exchange rate.

As of June 30, 2026, the Company recognized $2.6 million in research and development expenses and made payments of $4.7 million under the SDM Clinical Trial Agreement.

Research and Development Programs

In addition to the $8.5 million commitment to GNI Group for the Hydronidone program, as of June 30, 2026, Gyre Pharmaceuticals has committed to allocate $44.5 million toward future research and development activities for various programs. Gyre Therapeutics has not committed to allocate any amount toward research and development activities.

Indemnification Agreements

In the normal course of business, the Company enters into agreements that indemnify others for certain liabilities that may arise in connection with a transaction or certain events and activities. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, the Company may be required to reimburse the loss. These indemnifications are generally subject to various restrictions and limitations. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations.

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Gross Carrying Amounts and Accumulated Amortization of Intangible Assets

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2026 and December 31, 2025 were as follows (in thousands):


	June 30, 2026
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	447	$	(348	)	$	99
Computer software		352		(209	)		143
Technology rights		5,139		(856	)		4,283
Total intangible assets	$	5,938	$	(1,413	)	$	4,525


	December 31, 2025 (As Recast)
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	433	$	(328	)	$	105
Computer software		337		(176	)		161
Technology rights		4,980		(519	)		4,461
Total intangible assets	$	5,750	$	(1,023	)	$	4,727

Schedule of Estimated Future Amortization Expense

Based on finite-lived intangible assets recorded as of June 30, 2026, the estimated future amortization expense is as follows (in thousands):


	Estimated amortization expense
2026	$	358
2027		713
2028		683
2029		681
2030		670
Thereafter		1,420
Total	$	4,525

Condensed Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Series B Convertible Preferred Stock	Redeemable Convertible Preferred Stock	Redeemable Noncontrolling Interests	Common Stock	Additional Paid-In Capital	Statutory Reserve	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Total Gyre Stockholders' Equity	Non-controlling Interest
Balance at Dec. 31, 2024	$ 35,790,000				$ 86,000	$ 136,954,000	$ 3,098,000	$ (109,348,000)	$ (2,898,000)	$ 27,892,000	$ 7,898,000
Balance (in shares) at Dec. 31, 2024					86,307,544
Temporary Equity, Balance at Dec. 31, 2024			$ 15,784,000	$ 102,325,000
Temporary Equity, Balance (in shares) at Dec. 31, 2024			2,601,826	1,095,409
Stock-based compensation expense	823,000					507,000				507,000	316,000
Stock options exercised	956,000				$ 1,000	955,000				956,000
Stock options exercised (in shares)					1,273,931
Accretion of Cullgen redeemable convertible preferred stock				$ 2,578,000
Accretion of Cullgen redeemable convertible preferred stock	(2,578,000)							(993,000)		(993,000)	(1,585,000)
Issuance of Common Stock	509,000					509,000				509,000
Issuance of Common Stock (in shares)					54,734
CVR liability settlement	25,000					25,000				25,000
Deferred financing costs amortization	(2,000)					(2,000)				(2,000)
Unrealized gains (loss) on short-term investments	18,000								7,000	7,000	11,000
Reclassification adjustment for loss included in net income (loss)	(4,000)								(2,000)	(2,000)	(2,000)
Foreign currency translation adjustments	199,000								122,000	122,000	77,000
Net income (loss)	4,939,000							3,163,000		3,163,000	1,776,000
Balance at Mar. 31, 2025	40,675,000				$ 87,000	138,948,000	3,098,000	(107,178,000)	(2,771,000)	32,184,000	8,491,000
Balance (in shares) at Mar. 31, 2025					87,636,209
Temporary Equity, Balance at Mar. 31, 2025			$ 15,784,000	$ 104,903,000
Temporary Equity, Balance (in shares) at Mar. 31, 2025			2,601,826	1,095,409
Balance at Dec. 31, 2024	35,790,000				$ 86,000	136,954,000	3,098,000	(109,348,000)	(2,898,000)	27,892,000	7,898,000
Balance (in shares) at Dec. 31, 2024					86,307,544
Temporary Equity, Balance at Dec. 31, 2024			$ 15,784,000	$ 102,325,000
Temporary Equity, Balance (in shares) at Dec. 31, 2024			2,601,826	1,095,409
Unrealized gains (loss) on short-term investments	(4,000)
Balance at Jun. 30, 2025	59,610,000				$ 91,000	162,206,000	3,098,000	(109,222,000)	(2,560,000)	53,613,000	5,997,000
Balance (in shares) at Jun. 30, 2025					90,822,828
Temporary Equity, Balance at Jun. 30, 2025			$ 15,784,000	$ 107,545,000
Temporary Equity, Balance (in shares) at Jun. 30, 2025			2,601,826	1,095,409
Balance at Mar. 31, 2025	40,675,000				$ 87,000	138,948,000	3,098,000	(107,178,000)	(2,771,000)	32,184,000	8,491,000
Balance (in shares) at Mar. 31, 2025					87,636,209
Temporary Equity, Balance at Mar. 31, 2025			$ 15,784,000	$ 104,903,000
Temporary Equity, Balance (in shares) at Mar. 31, 2025			2,601,826	1,095,409
Stock-based compensation expense	1,120,000					906,000				906,000	214,000
Stock options exercised	1,032,000				$ 1,000	1,031,000				1,032,000
Stock options exercised (in shares)					631,064
Accretion of Cullgen redeemable convertible preferred stock				$ 2,642,000
Accretion of Cullgen redeemable convertible preferred stock	(2,642,000)							(1,017,000)		(1,017,000)	(1,625,000)
Issuance of Common Stock	23,000,000				$ 3,000	22,997,000				23,000,000
Issuance of Common Stock (in shares)					2,555,555
Deferred financing costs amortization	(1,676,000)					(1,676,000)				(1,676,000)
Unrealized gains (loss) on short-term investments	(22,000)								(9,000)	(9,000)	(13,000)
Reclassification adjustment for loss included in net income (loss)	12,000								5,000	5,000	7,000
Foreign currency translation adjustments	348,000								215,000	215,000	133,000
Net income (loss)	(2,237,000)							(1,027,000)		(1,027,000)	(1,210,000)
Balance at Jun. 30, 2025	59,610,000				$ 91,000	162,206,000	3,098,000	(109,222,000)	(2,560,000)	53,613,000	5,997,000
Balance (in shares) at Jun. 30, 2025					90,822,828
Temporary Equity, Balance at Jun. 30, 2025			$ 15,784,000	$ 107,545,000
Temporary Equity, Balance (in shares) at Jun. 30, 2025			2,601,826	1,095,409
Balance at Dec. 31, 2025	59,545,000				$ 91,000	172,819,000	3,098,000	(112,603,000)	(908,000)	62,497,000	(2,952,000)
Balance (in shares) at Dec. 31, 2025					91,314,007
Temporary Equity, Balance at Dec. 31, 2025			$ 15,784,000	$ 113,030,000
Temporary Equity, Balance (in shares) at Dec. 31, 2025			2,601,826	1,095,409
Appropriation of statutory reserve							550,000	(550,000)
Stock-based compensation expense	2,825,000					2,583,000				2,583,000	242,000
Stock options exercised	21,000					21,000				21,000
Stock options exercised (in shares)					23,114
Accretion of Cullgen redeemable convertible preferred stock				$ 2,847,000
Accretion of Cullgen redeemable convertible preferred stock	(2,847,000)							(1,096,000)		(1,096,000)	(1,751,000)
Unrealized gains (loss) on short-term investments	(51,000)								(20,000)	(20,000)	(31,000)
Reclassification adjustment for loss included in net income (loss)	(8,000)								(3,000)	(3,000)	(5,000)
Foreign currency translation adjustments	2,179,000								1,451,000	1,451,000	728,000
Net income (loss)	(18,579,000)							(12,050,000)		(12,050,000)	(6,529,000)
Balance at Mar. 31, 2026	43,085,000				$ 91,000	175,423,000	3,648,000	(126,299,000)	520,000	53,383,000	(10,298,000)
Balance (in shares) at Mar. 31, 2026					91,337,121
Temporary Equity, Balance at Mar. 31, 2026			$ 15,784,000	$ 115,877,000
Temporary Equity, Balance (in shares) at Mar. 31, 2026			2,601,826	1,095,409
Balance at Dec. 31, 2025	59,545,000				$ 91,000	172,819,000	3,098,000	(112,603,000)	(908,000)	62,497,000	(2,952,000)
Balance (in shares) at Dec. 31, 2025					91,314,007
Temporary Equity, Balance at Dec. 31, 2025			$ 15,784,000	$ 113,030,000
Temporary Equity, Balance (in shares) at Dec. 31, 2025			2,601,826	1,095,409
Unrealized gains (loss) on short-term investments	(337,000)
Net income (loss)	(32,800,000)
Balance at Jun. 30, 2026	142,489,000				$ 106,000	240,644,000	3,648,000	(137,962,000)	1,492,000	107,928,000	34,561,000
Balance (in shares) at Jun. 30, 2026					106,033,763
Temporary Equity, Balance at Jun. 30, 2026		$ 22,430,000	$ 0
Temporary Equity, Balance (in shares) at Jun. 30, 2026		3,697,235	0
Balance at Mar. 31, 2026	43,085,000				$ 91,000	175,423,000	3,648,000	(126,299,000)	520,000	53,383,000	(10,298,000)
Balance (in shares) at Mar. 31, 2026					91,337,121
Temporary Equity, Balance at Mar. 31, 2026			$ 15,784,000	$ 115,877,000
Temporary Equity, Balance (in shares) at Mar. 31, 2026			2,601,826	1,095,409
Stock-based compensation expense	1,833,000					1,833,000				1,833,000
Stock options exercised	188,000					188,000				188,000
Stock options exercised (in shares)					246,115
Shares issued upon common control merger with Cullgen	111,038,000	$ 22,430,000	$ (15,784,000)	$ (116,935,000)	$ 15,000	63,200,000			(376,000)	62,839,000	48,199,000
Shares issued upon common control merger with Cullgen (in shares)		3,697,235	(2,601,826)	(1,095,409)	14,450,527
Accretion of Cullgen redeemable convertible preferred stock				$ 1,058,000
Accretion of Cullgen redeemable convertible preferred stock	(1,058,000)							(407,000)		(407,000)	(651,000)
Unrealized gains (loss) on short-term investments	(286,000)								(18,000)	(18,000)	(268,000)
Foreign currency translation adjustments	1,959,000								1,366,000	1,366,000	593,000
Net income (loss)	(14,270,000)							(11,256,000)		(11,256,000)	(3,014,000)
Balance at Jun. 30, 2026	$ 142,489,000				$ 106,000	$ 240,644,000	$ 3,648,000	$ (137,962,000)	$ 1,492,000	$ 107,928,000	$ 34,561,000
Balance (in shares) at Jun. 30, 2026					106,033,763
Temporary Equity, Balance at Jun. 30, 2026		$ 22,430,000	$ 0
Temporary Equity, Balance (in shares) at Jun. 30, 2026		3,697,235	0

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2026 Segment
Segment Reporting [Line Items]
Number of operating segment	2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision and Effectie Tax Rate

During the three and six months ended June 30, 2026 and 2025, the Company recorded the following income tax provision (in thousands) and effective tax rate:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025 (As Recast)			2026			2025 (As Recast)
(Benefit) provision for income tax	$	(164	)	$	662		$	385		$	1,563
Effective tax rate		1.14	%		-42.03	%		-1.19	%		36.65	%

Income Taxes - Schedule of Income Tax Provision and Effectie Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Tax Disclosure [Abstract]
(Benefit) provision for income tax	$ (164)	$ 662	$ 385	$ 1,563
Effective tax rate	1.14%	(42.03%)	(1.19%)	36.65%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Disaggregation of Revenue [Line Items]
Percentage of revenue accounted sales to distributors			100.00%
Pharmaceutical Products
Disaggregation of Revenue [Line Items]
Revenue from sales	$ 29.1	$ 26.8	$ 51.6	$ 48.8
Collaborations
Disaggregation of Revenue [Line Items]
Contract liabilities					$ 1.0
Contract with customer liability, revenue recognized			$ 1.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

+ Details

Net (Loss) Income per Share ("EPS") Attributable to Common Stockholders - Basic and Diluted EPS Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share [Abstract]
Net segment (loss) income	$ (14,270)	$ (2,237)	$ (32,849)	$ 2,702
Add: Accretion of Cullgen redeemable convertible preferred stock	(1,058)	(2,642)	(3,905)	(5,220)
Less: Allocation of undistributed loss to noncontrolling interest	(3,665)	(2,835)	(11,945)	(2,644)
Net (loss) income attributable to common stockholders	(11,663)	(2,044)	(24,809)	126
Less: Change in fair value of warrant liability	132	212	220	2,467
Net loss income attributable to common stockholders - diluted	$ (11,663)	$ (2,256)	$ (24,809)	$ (2,341)
Weighted average common shares outstanding	100,637,599	89,119,344	96,003,117	87,295,099
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, basic	100,637,599	89,119,344	96,003,117	87,295,099
Weighted average of common stock options				0
Weighted average of preferred stock warrants (as converted)		83,794		135,068
Weighted average shares used in calculating net loss per share attributable to common stockholders, diluted	100,637,599	89,203,138	96,003,117	87,430,167
Net (loss) income per share available for common stockholders, basic	$ (0.12)	$ (0.02)	$ (0.26)	$ 0
Net (loss) income per share available for common stockholders, diluted	$ (0.12)	$ (0.03)	$ (0.26)	$ (0.03)

Employee Benefit Plans

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

Employee Benefit Plans

14. Employee Benefit Plans

Mainland China Contribution Plan

Pursuant to relevant PRC regulations, the Company is required to make contributions to various defined contribution plans organized by municipal and provincial PRC governments. The contribution for each employee is based on a percentage of the employee’s current compensation as required by the local government. The contributions are charged to profit or loss as they become payable in accordance with the rules of the central pension scheme. The total contributions for such employee benefits were $1.8 million and $1.7 million for the three months ended June 30, 2026 and 2025, respectively. The total contributions for such employee benefits were $3.3 million and $3.4 million for the six months ended June 30, 2026 and 2025.

Defined-Contribution Savings Plan

In the U.S., the Company maintains a defined-contribution savings plan pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended. The plan is available to employees who meet the minimum age and length of service requirements. The contributions made during the three months ended June 30, 2026 and 2025 were $36.1 thousand and $40.0 thousand. The contributions made during the six months ended June 30, 2026 and 2025 were $70.8 thousand and $70.8 thousand.

- Definition

The entire disclosure for defined benefit plan.

+ References

+ Details