Cypherpunk Technologies Inc 2026 Annual Report

TABLE OF CONTENTS SPECIAL NOTEREGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements whichreflect our current views with respect to, among other things, our operations and financial performance. Suchstatements are based upon our current plans, estimates and expectations that are subject to various risks anduncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-lookingstatements should not be regarded as a representation that such plans, estimates and expectations will be achieved.Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” Forward-looking statements address various matters including statements relating to the value of theCompany’s ZEC holdings, the investment in ZODL, or digital assets held or to be held by the Company, the expectedfuture market, price, and liquidity of ZEC or other digital assets the Company acquires, the macro and politicalconditions surrounding Zcash or digital assets, the Company’s plan for value creation and strategic advantages, marketsize and growth opportunities, regulatory conditions, competitive position and the interest of other corporations insimilar business strategies, technological and market trends, and future financial condition and performance. Risks anduncertainties of the digital asset treasury strategy include, among others: (a) risks relating to the Company’s operationsand business, including the highly volatile nature of the price of ZEC; (b) the risk that material changes in the price ofZEC, such as decreases in price, will result in significant changes to the Company’s financial statements, such as With respect to our biotechnology operations, important factors that could cause actual results to differmaterially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan todevelop and commercialize sirexatamab; (ii) our estimates regarding our capital requirements and our ability to raise By their nature, forward-looking statements involve risks and uncertainties because they relate to events,competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in thefuture or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonablebasis for each forward-looking statement contained in this Quarterly Report, we caution you that forward-lookingstatements are not guarantees of future performance and that our actual results of operations, financial condition andliquidity, and the development of the industry in which we operate may differ materially from the forward-looking You should refer to Part II, Item 1A, Risk Factors in this Quarterly Report and Part I, Item 1A, Risk Factors inour Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and ExchangeCommission on March 16, 2026, for a discussion of important factors that may cause our actual results to differmaterially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannotassure you that the forward-looking statements in this Quarterly Report will prove to be accurate. Furthermore, if ourforward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significantuncertainties in these forward-looking statements, you should not regard any such statement as a representation orwarranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. Sirexatamab (DKN-01) is an investigational drug undergoing clinical development and has not been approvedby the U.S. Food and Drug Administration (the “FDA”), nor has it been submitted to the FDA for approval.Sirexatamab has not been, and may never be, approved by any regulatory agency or marketed anywhere in the world. INTRODUCTORY COMMENT References to Cypherpunk and Leap On November 12, 2025, we filed a Charter Amendment with the Secretary of State of the State of Delawarechanging the Company’s name from “Leap Therapeutics, Inc.” to “Cypherpunk Technologies Inc.”. In connection withthe name change, the Company formed a new wholly-owned subsidiary, named “Leap Therapeutics, Inc.”, which Throughout this Quarterly Report on Form 10-Q, the “Company,” “Cypherpunk”, “CypherpunkTechnologies”, “we,” “us,” and “our,” except where the context requires otherwise, refer to Cypherpunk TechnologiesInc. and its consolidated subsidiaries, and, except where the context requires otherwise, “Board of Directors” refers tothe board of directors of Cypherpunk Technologies Inc. References to “Leap” and “Leap Therapeutics” refer to LeapTherapeutics, Inc., and may include drug development activities that took place prior to Leap’s incorporation on Part I – FINANCIAL INFO