VYNE Therapeutics (VYNE) AI Stock Analysis

• Market Cap: $19.99M
• Dividend Yield: N/A
• Average Volume (3M): 2.75M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.77
• Revenue Growth: 6.29%
• EPS Growth: 7.42%
• Country: US
• Employees: 13
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 33,286,423
• 10 Day Avg. Volume: 3,707,448
• 30 Day Avg. Volume: 2,746,500
• PEG Ratio: 0.03
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 43.53
• P/FCF Ratio: -0.75
• Enterprise Value/Market Cap: -0.70
• Enterprise Value/Revenue: -24.60
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: 0.50
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.81
• Revenue Forecast (FY): $350.00K

• Rating: 51 Neutral
• Price Target: $0.60 ▲(0.50% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held down primarily by very weak financial performance (tiny revenue base, ongoing large losses, and significant cash burn) despite low leverage. Technicals add modest support with improving near-term momentum, and the merger/financing event is a notable positive for runway and strategy, but valuation remains unattractive/unclear due to negative earnings and no dividend.

Positive Factors

Secured Merger Financing & Runway

The announced merger includes $200M in pre-closing financings and stated funding through 2028, materially extending operational runway. This durable funding visibility reduces near-term dilution risk and enables execution of planned global clinical trials and program advancement over multiple years.

Strengthened Pipeline (YB-101)

The combined company advances Yarrow’s lead program YB-101, a first-in-class TSH receptor antibody targeting Graves’ disease and thyroid eye disease. A differentiated, clinic-ready biologic for sizeable unmet needs meaningfully diversifies VYNE’s product mix and enhances long-term commercial and partnership prospects.

Low Leverage

A near-zero debt profile reduces fixed financial obligations and interest exposure, preserving strategic flexibility to fund R&D or pursue M&A. Low leverage lowers bankruptcy risk and supports multi-year clinical development programs without the burden of high debt servicing costs.

Negative Factors

Persistent Cash Burn

Operating and free cash flows are consistently negative and large relative to revenue, with 2025 operating cash flow ~- $33.1M. Sustained cash burn requires ongoing financing, increases dilution risk, and constrains the firm's ability to progress multiple programs simultaneously without material cost control or new non-dilutive funding sources.

Minimal Commercial Revenue

Sub-$1M annual revenues through 2025 and deeply negative margins (-46% to -88%) mean the business lacks internal commercial cash generation. Without commercial products contributing material sales, R&D and trials depend on external capital, leaving long-term growth contingent on successful development and market approval.

Eroding Equity Base

Material decline in shareholder equity reflects multi-year operating losses and capital consumption. A shrinking equity base limits balance-sheet resilience, reduces cushion against adverse events, and increases the likelihood of dilutive financings or governance pressure to change strategy to restore capital efficiency.

VYNE Therapeutics Business Overview & Revenue Model

Company Description

VYNE Therapeutics Inc., a pharmaceutical company, focuses on developing various therapeutics for the treatment of immuno-inflammatory conditions. The company develops FCD105, a topical combination foam that has completed Phase III clinical trials for the treatment of moderate-to-severe acne vulgaris; and FMX114, a combination of tofacitinib, which is in Phase IIa preclinical trial for the treatment of mild-to-moderate atopic dermatitis. It is also developing VYN201, a bromodomain and extra-terminal (BET) inhibitor for various immuno-inflammatory diseases, including skin diseases; and VYN202, BET inhibitor compounds that are selective for bromodomain 2. The company was formerly known as Menlo Therapeutics Inc. and changed its name to VYNE Therapeutics Inc. in September 2020. VYNE Therapeutics Inc. was founded in 2003 and is based in Bridgewater, New Jersey.

How the Company Makes Money

VYNE Therapeutics primarily generates revenue through the commercialization of its proprietary products and potential partnerships with larger pharmaceutical companies. The company may earn revenue from product sales once its therapies receive regulatory approval and are launched in the market. Additionally, VYNE can also generate income through licensing agreements and collaborations, which may involve upfront payments, milestone payments based on the achievement of development goals, and royalties on future sales. These partnerships provide critical funding and resources to support the company's research and development efforts, while also allowing VYNE to share the financial risks associated with bringing new treatments to market.

VYNE Therapeutics Financial Statement Overview

Summary

Financials are weak overall: revenue remains very small and volatile, losses are large and persistent despite some improvement in 2025, and cash burn is substantial with consistently negative operating and free cash flow. The balance sheet benefits from low leverage, but equity has declined sharply, underscoring ongoing capital consumption.

Income Statement

Revenue remains extremely small (sub-$1M annually in 2021–2025) and volatile, despite a strong uptick in 2025. Profitability is very weak: operating losses are large and persistent, and net margins are deeply negative across all recent years (roughly -46% to -88% in 2022–2025). While 2025 shows a meaningful improvement versus 2024 in both loss level and margin, the business is still far from breakeven and results are highly dependent on controlling operating expenses rather than scaling revenue.

Balance Sheet

Leverage is low, with minimal to no debt in most years and a near-zero debt-to-equity profile recently, which reduces financial risk. However, the equity base has compressed materially (from ~$88.7M in 2023 to ~$27.8M in 2025), reflecting ongoing losses and weakening balance sheet capacity. Returns on equity are consistently negative and sizable, signaling that shareholder capital continues to be consumed by operating losses even though debt levels are not a near-term pressure point.

Cash Flow

Cash generation is a key weakness: operating cash flow and free cash flow are consistently negative and remain heavily out of line with the company’s very small revenue base (e.g., 2025 operating cash flow of about -$33.1M). Free cash flow also deteriorated in 2025 versus 2024 (negative growth), indicating the cash burn is not steadily improving. While cash burn improved significantly from the very large outflow seen in 2020, the business still requires ongoing funding absent a clear path to materially lower cash usage.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	570.00K	501.00K	424.00K	477.00K	931.00K
Gross Profit	0.00	501.00K	424.00K	477.00K	931.00K
EBITDA	-26.73M	-43.63M	-29.26M	-34.22M	-38.80M
Net Income	-26.48M	-39.83M	-28.45M	-23.21M	-73.33M
Balance Sheet
Total Assets	30.16M	66.91M	97.69M	40.76M	67.05M
Cash, Cash Equivalents and Short-Term Investments	29.01M	61.52M	93.25M	30.91M	42.25M
Total Debt	0.00	99.00K	214.00K	0.00	349.00K
Total Liabilities	2.40M	14.82M	8.95M	9.56M	18.41M
Stockholders Equity	27.77M	52.09M	88.73M	31.20M	48.64M
Cash Flow
Free Cash Flow	-33.12M	-34.09M	-25.34M	-29.20M	-56.37M
Operating Cash Flow	-33.12M	-33.97M	-25.34M	-29.20M	-56.37M
Investing Cash Flow	37.37M	23.36M	-57.35M	15.67M	1.03M
Financing Cash Flow	-143.00K	-141.00K	82.39M	1.65M	39.78M

VYNE Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VYNE, the sentiment is Positive. The current price of 0.6 is above the 20-day moving average (MA) of 0.58, above the 50-day MA of 0.57, and below the 200-day MA of 0.63, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 62.41 is Neutral, neither overbought nor oversold. The STOCH value of 77.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VYNE.

VYNE Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INAB	52 Neutral	$16.60M	-0.26	-189.72%	―	―	70.57%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VYNE	51 Neutral	$19.99M	-0.76	-70.67%	―	6.29%	7.42%
KZIA	49 Neutral	$95.79M	-0.69	―	―	-98.25%	63.05%
XBIO	42 Neutral	$5.80M	-1.24	-57.43%	―	13.30%	22.70%
KALA	40 Underperform	$346.31M	-0.06	―	―	―	52.39%

VYNE Therapeutics Corporate Events

VYNE Therapeutics Amends Merger Terms with Yarrow Bioscience

On January 30, 2026, VYNE Therapeutics, its wholly owned subsidiary Yarrow Merger Sub Corp., and Yarrow Bioscience amended their December 17, 2025 merger agreement to refine how equity will be issued to Yarrow stockholders in the planned transaction. The amendment allows VYNE to issue pre-funded warrants instead of common shares to any Yarrow holder whose merger consideration would push their beneficial ownership of VYNE stock above a specified limit, with the warrants exercisable for the excess amount that would otherwise breach that cap, and it also clarifies that a planned pre-closing dividend from VYNE may be paid not only on outstanding common stock but also on the common shares underlying certain existing VYNE warrants as of the dividend record date, providing greater precision on post-deal ownership structure and entitlement to dividends for current and incoming stakeholders.

The most recent analyst rating on (VYNE) stock is a Hold with a $0.61 price target. To see the full list of analyst forecasts on VYNE Therapeutics stock, see the VYNE Stock Forecast page.

VYNE Therapeutics Announces Merger with Yarrow Bioscience

On December 17, 2025, VYNE Therapeutics and Yarrow Bioscience announced a definitive merger agreement resulting in the creation of a combined entity operating as Yarrow Bioscience, Inc. This merger positions the company to advance Yarrow’s lead program, YB-101, a first-in-class thyroid-stimulating hormone receptor antibody aimed at treating Graves’ disease and thyroid eye disease. Supported by $200 million in pre-closing financings, the combined company’s operations are expected to be funded through 2028, including multiple clinical trials scheduled to begin globally. The merger, approved unanimously by both companies’ boards, signifies a strategic pivot for VYNE to bolster its stockholder value and Yarrow’s pipeline, with leadership from Yarrow executives and significant backing from industry-leading investors.

The most recent analyst rating on (VYNE) stock is a Hold with a $0.36 price target. To see the full list of analyst forecasts on VYNE Therapeutics stock, see the VYNE Stock Forecast page.

VYNE Therapeutics Approves Director Elections and Proposals

On December 12, 2025, VYNE Therapeutics Inc. held its annual meeting of stockholders where three proposals were considered. The election of two Class I directors was approved, with Elisabeth Sandoval Little and Steven Basta elected to serve until the 2028 annual meeting. The selection of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified. Additionally, stockholders approved the compensation for the company’s named executive officers.

The most recent analyst rating on (VYNE) stock is a Hold with a $0.36 price target. To see the full list of analyst forecasts on VYNE Therapeutics stock, see the VYNE Stock Forecast page.