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/Bonxo
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.
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]
InvestorWire is powered by IBN