Inhibikase Therapeutics ( (IKT) ) has shared an update.
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Inhibikase Therapeutics, Inc. has entered into an agreement for a private placement transaction valued at approximately $110 million with institutional and accredited investors. The company plans to issue over 58 million shares of common stock, as well as pre-funded and Series Warrants, which are immediately exercisable at nominal prices. This strategic financial move is expected to bolster Inhibikase’s pursuit of advancing its lead drug candidate, IkT-001Pro, through late-stage trials for the treatment of pulmonary arterial hypertension. The private placement is anticipated to close by October 21, 2024, subject to typical closing conditions, and it underscores the investors’ confidence in Inhibikase’s potential within the biopharmaceutical sector.
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