Gain Therapeutics (NASDAQ: GANX), a clinical-stage biotechnology company leading the discovery and development of next-generation allosteric therapies, has announced the pricing of an underwritten public offering. The public offering is comprised of 7,116,547 shares of its common stock offered at $1.35 per share and prefunded warrants to purchase 1,031,602 shares of common stock in lieu of shares of common stock to certain investors. According to the announcement, the prefunded warrants will be immediately exercisable. In addition, the company granted the underwriter a 30-day option to purchase up to 1,222,222 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The public offering is projected to total an estimated $11 million in gross proceeds, excluding the exercise of the underwriter’s option and underwriting discounts and commissions and other offering-related expenses. Gain anticipates using the funds from the offering to continue clinical and nonclinical development of its lead product candidate GT-02287, which is designed to treat neurodegenerative diseases including GBA1 Parkinson’s disease, as well as for general corporate purposes. Titan Partners Group, a division of American Capital Partners, acted as sole bookrunner for the offering.
To view the full press release, visit https://ibn.fm/OS0DL
About Gain Therapeutics Inc.
Gain Therapeutics is a clinical-stage biotechnology company leading the discovery and development of next generation allosteric therapies. Gain’s lead drug candidate GT-02287 for the treatment of GBA1 Parkinson’s disease is currently being evaluated in a phase 1 clinical trial. Leveraging artificial-intelligence (“AI”)-supported structural biology, proprietary algorithms and supercomputer-powered physics-based models, the company’s Magellan(TM) drug-discovery platform can identify novel allosteric binding sites on disease-implicated proteins, pinpointing pockets that cannot be found or drugged with current technologies. Its AI and machine-learning tools and virtual screening capabilities leverage the emerging on-demand compound libraries covering vast chemical spaces of more than five trillion compounds to identify and select suitable small molecule hits for experimental validation. Gain’s unique approach enables the discovery of novel, allosteric small molecule modulators that can restore or disrupt protein function. Deploying its highly advanced platform, Gain is accelerating drug discovery and unlocking novel disease-modifying treatments for untreatable or difficult-to-treat disorders including neurodegenerative diseases, rare genetic disorders and oncology. For more information, visit the company’s website at www.GainTherapeutics.com.
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