** Shares of drug developer Cyclerion Therapeutics CYCN.O rise 43% to $4.33 premarket
** Co said late on Tuesday it is relaunching as a neuropsychiatric-focused firm after signing a licensing deal with the Massachusetts Institute of Technology
** Its lead program targets treatment-resistant depression using anesthetic-based tech
** A mid-stage trial is expected to begin in 2026 with data in 2027, co said
** As of last close, stock down 6.2% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))