U.S.-based Leap Therapeutics (LPTX) shocked investors with a 368.6% surge in its stock on Wednesday. The dramatic rally followed the company’s announcement of several strategic updates, including its unexpected expansion into digital asset investments alongside its cancer drug development. As part of the rebranding, the company also revealed it will change its name to Cypherpunk Technologies and update its ticker symbol to CYPH. LPTX stock is down by 25% in pre-market hours on Thursday, reversing some of its gains.
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For context, Leap Therapeutics develops targeted therapies for cancer patients. The company has also ventured into digital assets focused on Zcash, a type of cryptocurrency.
Leap Therapeutics Takes Crypto Leap
Leap Therapeutics unveiled a digital asset treasury strategy focused on accumulating Zcash (ZEC). As part of this, the company used $50 million from a private placement, led by Winklevoss Capital, to acquire 203,775 ZEC tokens to enhance shareholder value.
The company is treating Zcash as an important part of its main assets and combining this with its new name and brand. This shows that it wants to focus on supporting cryptocurrencies that protect user privacy.
Overall, Cypherpunk views Zcash as “digital privacy,” similar to how Bitcoin is considered digital gold. Zcash also serves as a hedge against the transparency of Bitcoin and traditional financial systems in a future shaped by AI.
Leap Therapeutics Announces Q3 2025 Results
The company also reported earnings for the quarter ending September 30, 2025. Net loss for Q3 2025 was $3.3 million, down from $18.2 million in Q3 2024. The decline was mainly driven by lower research and development and general administrative expenses, following workforce reductions and the completion of clinical trials.
Looking ahead, the company plans to continue developing its cancer treatments, Sirexatamab and FL-501, while advancing its new digital asset strategy. It will use the recent capital raise to support both its biotech operations and digital asset initiatives while continuing to work toward profitability.
Is Leap Therapeutics a Buy?
Leap Therapeutics shares currently have no Wall Street coverage. However, TipRanks’ A.I. analyst rates LPTX stock as Underperform based on the OpenAI-4o model.
