Cyclerion Therapeutics, Inc. · NASDAQ:CYCN
Cyclerion Therapeutics — Corporate Update (September 2025)
15 slides from Cyclerion Therapeutics's corporate update, Sep 23, 2025
Slide 1: Cyclerion: Pioneering a New Era in Neuropsychiatric Therapies
Exhibit 99.2 Cyclerion: Pioneering a New Era in Neuropsychiatric Therapies Investor Call th September 24 , 2025, 10:30am EST
Slide 2: Legal Disclaimer
2 Legal Disclaimer This presentation has been prepared by Cyclerion Therapeutics, Inc. and its consolidated subsidiaries (“the Company,” “Cyclerion,” “we,” “us,” and “our”). Certain matters discussed in this presentation are “forward-looking statements.” We may, in some cases, use terms such as “pot
Slide 3: Relaunching Cyclerion: A new, pioneering neuropsychiatric-focused company
33 Relaunching Cyclerion: A new, pioneering neuropsychiatric-focused company Strong Company Fundamentals Strategic Pipeline Focus ü Built on opportunity for patient impact and ü Tech-enhanced therapies to optimize patient shareholder value creation benefit ü Driven by lean, nimble team with world-cl
Slide 4: Cyclerion's neuropsychiatric expertise and agility in action
44 Cyclerion’s neuropsychiatric expertise and agility in action Deep Industry Expertise with Strong Relationships from early research to late commercialization Officers Key Advisors Regina Graul, PhD; CEO Rhonda Chicko; CFO Scholar Rock, Editas, EQRx, Ironwood, Ironwood Cyclerion Laeben Lester, MD L
Slide 5: Building a pipeline of innovative therapies focused on neuropsychiatric disorders
5 Building a pipeline of innovative therapies focused on neuropsychiatric disorders Foundational Platform: Pioneering the potentially first-in-class option for anesthetic-based therapy • Lead indication: potential to be an improved therapy for 3M patients with Treatment-Resistant Depression (TRD) in
Slide 6: Treatment-Resistant Depression is a growing crisis
6 Treatment-Resistant Depression is a growing crisis* 3 Million TRD Patients Of the 21 Million Major Depression Major clinical burden Massive cost burden $40B Disorder (MDD) • 2-10x incidence of suicide Health care, unemployment, Patients in the U.S.… a year or suicide attempts; & the productivity b
Slide 7: The pressing need for better approved treatment options for the 3M patients that progress to TRD
7 The pressing need for better approved treatment options for the 3M patients that progress to TRD Treatments Electroconvulsive Therapy (ECT) ECT + Invasive Therapies Cyclerion Foundational Therapy Candidate Spravato rTMS • Anesthetized patient receiving repeated seizure-inducing treatment ECT at th
Slide 8: The Cyclerion Solution: personalized delivery of common anesthetics
88 The Cyclerion Solution: personalized delivery of common anesthetics Potential First-in-class option for anesthetic-based therapy to be a: Improved therapy for TRD patients desperate for new options Potential to be the preferred treatment for TRD Controller, algorithm, and display • Tech-driven sy
Slide 9: Potential to be the preferred option for patients, providers, and hospitals
99 Potential to be the preferred option for patients, providers, and hospitals Patient Preference Provider Preference Hospital Preference Potential for a safe, Potential for lower Potential reimbursement efficacious, and well- provider burden to for procedure, device, tolerated treatment administer
Slide 10: Proven mode of action for use of sedation for TRD
10 Proven mode of action for use of sedation for TRD Brain regions communicate with each other via oscillatory brain waves: Patient with TRD Cyclerion Therapy Healthy Patients Oscillations Synchronized Specific states of are not oscillations general anesthesia synchronized could facilitate resynchro
Slide 11: Compelling Clinical Precedent for such use of anesthetics for TRD
11 11 Compelling Clinical Precedent for such use of anesthetics for TRD Three early-phase clinical studies support propofol’s potential as a rapid-acting antidepressant in TRD Anesthesiologist-controlled open loop dosing Propofol showed consistent signals of efficacy with favorable safety profiles w
Slide 12: Compelling Clinical Data for such use of propofol for TRD
12 12 Compelling Clinical Data for such use of propofol for TRD Propofol dosing and enhancement of slow wave sleep predict antidepressant response in geriatric patients with treatment-resistant depression [Poster presentation]. Palanca, B. J. A., Ching, S., Farber, N. B., Lin, N., Lucey, B. P., Reyn
Slide 13: Expect to initiate Proof-of-Concept study in 2026
13 13 Expect to initiate Proof-of-Concept study in 2026 To confirm existing clinical precedent with Cyclerion therapy Expected Phase 2 RCT, Two PART A: Safety and Part, POC Study Design PART B: Safety & Efficacy Pharmacodynamics (PD) RCT, double-blind RCT, double-blind Design 3 arms: GA1*, GA2**, Sh
Slide 14: Expected Milestones
14 14 Expected Milestones by EOY 2025 2026 2027 2028 • Confirm details of • Device • Phase 2 Part A • Full Phase 2 POC Trial Design Completion Safety and PD Proof-of- data concept Data • Pre-IND** Meeting • FDA IND clearance • Phase 2 Part B • End of Phase 2 • Prototype Topline Clinical FDA Meeting
Slide 15: Thank You
Thank You September 2025 z cuclerion a EZ
Cyclerion Therapeutics — Corporate Update (September 2025) on 6ix