PLYX Stock — Polaryx Therapeutics Inc.: Cash, EV, Pipeline

Share price

$2.04

Market cap

$101.7M

Cash

$11.5M

Enterprise value

$90.2M

Balance sheet

Cash	$11.5M
Debt	$0.0M
Net cash	$11.5M
Enterprise value	$90.2M
Basic shares	49.8M shares
Fully diluted shares	54.0M shares
Fully diluted market cap	$110.2M
Cash per share	$0.23

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Feb 11 - Mar 25	PLX-200	Phase 2	Lysosomal Storage Disorders; Sandhoff Disease; Krabbe Disease	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

PLX-200

Phase 2 · Active Modality: small molecule (oral; PPARα agonist, repurposed)

Aliases gemfibrozil

Target PPARα

Partnerships Rush University Medical Center: 2016 exclusive license for LSD use (3.5% royalties; $100K approval milestone)

Indications

CLN2 and CLN3 neuronal ceroid lipofuscinosis (NCLs) (Phase 2)
Krabbe disease (Phase 2)
Sandhoff disease (Phase 2)

Catalysts

— H2 2026

Status note Lead. SOTERIA open-label multi-indication master study; IND cleared Oct 2025; recruitment opened Jul 2026 (sentinel safety group). FDA orphan designations for all 13 NCL subtypes, GM2 gangliosidoses, Krabbe.

PLX-300

Preclinical · Active Modality: small molecule (oral; novel)

Aliases cinnamic acid

Target PPARα

Indications

GM2 gangliosidosis (Preclinical)
Krabbe disease (Preclinical)
Niemann-Pick disease type A and B (Preclinical)

Status note IND-enabling studies. FDA orphan + rare pediatric drug designations for GM2, Krabbe, NPD A/B.

PLX-100

Preclinical · Active Modality: combination (oral): PLX-200 + vitamin A (RXRα agonist)

Target PPARα / RXRα

Indications

LSDs (CLN2) (Preclinical)

Status note Preclinical combination therapy. FDA orphan designation for CLN2.

PLX-400

Preclinical · Active Modality: gene therapy

Target CLN2

Partnerships Rush University Medical Center: exclusive gene therapy patent license (Jan 2025; 2022 Rush License Agreement milestones up to $75K orphan / $650K non-orphan; 1.75% royalties)

Indications

Lysosomal storage disorders (Preclinical)

Status note Preclinical novel gene therapy; being explored as monotherapy or with oral PLX-200.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	PLX-200
Lead indication	Lysosomal Storage Disorders
Lead phase	Phase 2
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07740512	Phase 2	Not yet recruiting	Sponsor	PLYX	—	Lysosomal Storage Disorders; Sandhoff Disease; Krabbe Disease	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Polaryx Therapeutics, Inc. on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

PLYX — Polaryx Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials