Ryvu Therapeutics currently not interested in raising capital from market

"For today there is no topic [of share issuance - PAP ed.]. One of the pillars of the decision to carry out group layoffs is the desire to avoid issuance, especially at the price we have," CEO Przewiezlikowski said.

"We want to have full control over when the company will reach for capital. With these external conditions and the price, we are not interested in raising capital," he added.

At around 11.30am on Tuesday, the company's share price was down 12.9 percent to PLN 22.65 (EUR 5.44).

Ryvu said on Tuesday that it had decided to reorganise to extend the financing period until the second half of 2026. The company intends to carry out group layoffs, which will involve approximately 30 percent of employees (no more than 95 people).

In addition, it is halting the recruitment of new patients in RIVER-52, a Phase II study of RVU120 as a monotherapy in AML/HR-MDS, to focus investment on other development pathways for RVU120, including the continuation of the RIVER-81 study.

As reported, these decisions were made based on data analysis and advisory committee opinions in February 2025. A further update on RVU120 is planned for the second quarter of 2025.

The company does not want to base its funding strategy on potential partnerships or funds.

"We want to extend the cash runway to have better control over our future. We don't want to bail out by raising funds, and we don't know what the external situation will be or what the data will be. (...)," Ryvu's CEO said.

"The plan to extend the cash runway to the second half of 2026 is a conservative assumption and does not assume new partnerships, issues or grants, although partnerships or grants are likely," he added.

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