Inhibikase Therapeutics secures ~USD 4 million from registered direct offering and warrant inducement. The offering is expected to close on or about May 22, 2024.

The direct offering involves a securities purchase agreement with a single institutional investor to sell nearly 1.7 million ordinary shares (or pre-funded warrants) at USD 1.68 each. Simultaneously, in a private placement, the company will also sell unregistered Series A and Class B warrants, each allowing the purchase of up to nearly 1.7 million ordinary shares.

The company has entered a warrant inducement agreement with the investor to exercise certain outstanding warrants issued in January 2023. Under this agreement, the company will issue the investor unregistered Series C and Series D warrants, each allowing the purchase of up to 708,500 ordinary shares at USD 1.68 per share.

Inhibikase Therapeutics is focused on developing therapeutics for Parkinson's disease and related disorders. The company's multi-therapeutic pipeline primarily targets neurodegeneration with its lead program, risvodetinib, an Abelson Tyrosine Kinase (c-Abl) inhibitor, aimed at treating Parkinson's disease within and outside the brain, as well as other conditions stemming from Abelson Tyrosine Kinases.