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Inhibikase Therapeutics prices direct offering and announces warrant inducement
Longevity Tech
May 20, 2024
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Longevity Tech

Longevity Tech

May 20, 2024

Inhibikase Therapeutics prices direct offering and announces warrant inducement

Funding

  • 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.

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