CYPH — what changed in the latest 10-Q
A section-by-section comparison of CYPH's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-12 vs the prior 10-Q · 2026-05-14
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +31 | −23 | ~12 | 26 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~1 | 7 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 7 |
| Legal proceedings | Text added/removed | +1 | −1 | ~1 | 7 |
| Risk factors | Text added/removed | +1 | −1 | ~1 | 7 |
| Other information | Text added/removed | +1 | −1 | ~1 | 7 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-12
oAs of August 11, 2026, we held a total of 323,394.38 ZEC at an average purchase price of $341.83, representing approximately 1.92% of the total circulating supply of the Zcash network.
oWe appointed Dev Ojha, the founder of Valar Group, a leading development and research team focused on the Zcash Network, as an Advisor. Valar Group has taken a significant role in developing Zakura, a high-performance full node software designed for massive scalability of Zcash, and on the Ironwood…
●Publication of randomized Phase 2 DeFianCe study in Clinical Cancer Research
oWe announced the publication of results from the randomized Phase 2 DeFianCe (NCT05480306) study of sirexatamab (DKN-01), an anti-DKK1 monoclonal antibody, in Clinical Cancer Research. The publication, “Sirexatamab in Combination with Bevacizumab and Chemotherapy as Second-Line Therapy for Advanced…
oThe peer-reviewed analyses establish that, while the prespecified primary endpoint was not met in the intent-to-treat population, the benefit of sirexatamab increases as a patient’s baseline plasma DKK1 level rises — a relationship confirmed by independent statistical approaches and reinforced by t…
Text removed vs the prior filing · source: 10-Q · 2026-05-14
oSince our last update on April 15, 2026, through May 13, 2026, we have purchased an additional 10,279.30 ZEC for $5.0 million, at an average purchase price of $486.41 per ZEC.
oAs of May 13, 2026, Cypherpunk held a total of 314,185.70 ZEC, at an average purchase price of $337.86 per ZEC, representing approximately 1.88% of the total circulating supply of the Zcash network.
●Invested $5 million into Zcash Open Development Labs (“ZODL”)
oIn March 2026, we expanded our holdings with a $5.0 million investment in ZODL, alongside key investors including a16z, Winklevoss Capital, Coinbase, Paradigm, Chapter One, David Friedberg, Balaji Srinivasan, and others. This marks our first technology investment outside of ZEC. ZODL, which houses …
●Launched new website and investor dashboard at cypherpunk.com
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-12
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) the DeFianCe study did not meet its prespecified primary endpoint of progression-free survival in …
Text removed vs the prior filing · source: 10-Q · 2026-05-14
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our ca…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-12
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) the DeFianCe study did not meet its prespecified primary endpoint of progression-free survival in …
Text removed vs the prior filing · source: 10-Q · 2026-05-14
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our ca…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-12
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) the DeFianCe study did not meet its prespecified primary endpoint of progression-free survival in …
Text removed vs the prior filing · source: 10-Q · 2026-05-14
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our ca…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-12
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) the DeFianCe study did not meet its prespecified primary endpoint of progression-free survival in …
Text removed vs the prior filing · source: 10-Q · 2026-05-14
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our ca…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-12
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) the DeFianCe study did not meet its prespecified primary endpoint of progression-free survival in …
Text removed vs the prior filing · source: 10-Q · 2026-05-14
With respect to our biotechnology operations, important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to develop and commercialize sirexatamab; (ii) our estimates regarding our ca…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice