Cyclerion Therapeutics (CYCN) said late Tuesday it relaunched as a neuropsychiatric company supported by a licensing agreement with the Massachusetts Institute of Technology for intellectual property.

The company said it will advance the development of therapies for neuropsychiatric conditions, starting with the phase 2 program for treatment-resistant depression.

The phase 2 proof-of-concept trial for its TRD program is expected to begin in 2026, with an initial data set expected the following year, the company said.

Cyclerion shares rose 43% during after-hours activity.