Inhibikase Therapeutics Inc - IKT STOCK NEWS

Inhibikase Therapeutics (IKT) reported its 2024 financial results and key developments, highlighting a strategic focus on advancing IkT-001 for Pulmonary Arterial Hypertension (PAH) treatment. The company secured $110 million through a private placement in October 2024, with potential additional proceeds of up to $275 million if warrants are exercised.

Key financial metrics for 2024 include:

• Net loss of $27.5 million ($1.16 per share) vs $19.1 million in 2023
• R&D expenses increased to $17.2 million from $13.6 million in 2023
• SG&A expenses rose to $11.4 million from $6.7 million in 2023
• Cash position of $97.5 million as of December 31, 2024

The company strengthened its leadership team with Mark Iwicki as CEO, Chris Cabell as President and Head of R&D, and John Adams as CSO. The FDA issued a Study May Proceed letter for IkT-001's Phase 2b trial in September 2024.

Inhibikase Therapeutics (Nasdaq: IKT) has announced significant leadership appointments, strengthening its executive team with expertise in pulmonary arterial hypertension (PAH). Chris Cabell, MD, former Chief Medical Officer of Arena Pharmaceuticals and CEO of CorHepta, joins as President and Head of Research & Development. John Adams, PhD, CorHepta co-founder and former Head of Research at Arena Pharmaceuticals, becomes Chief Scientific Officer.

The company also appointed Vince Aurentz to its Board of Directors, bringing extensive experience in corporate strategy and business development from his role as Executive VP and Chief Business Officer at Arena Pharmaceuticals, which was acquired by Pfizer for $6.7 billion in 2022.

These appointments aim to accelerate the preparation and execution of the IkT-001 Phase 2 clinical trial in PAH. Both Cabell and Adams have significant experience with PAH medicine development, notably with ralinepag, which was successfully licensed to United Therapeutics.

Inhibikase Therapeutics (Nasdaq: IKT) has announced significant leadership changes effective February 14, 2025. Mark Iwicki, with over 30 years of biopharmaceutical industry experience, has been appointed as CEO, replacing founder Dr. Milton H. Werner. Additionally, Amit Munshi has been named Chair of the Board, succeeding Roberto Bellini, who will continue as a director.

The company granted Iwicki substantial inducement awards, including options to purchase up to 15,061,377 shares total, with various vesting conditions. These awards were granted outside the company's 2020 Equity Incentive Plan as a material inducement to his employment.

The new leadership team will focus on advancing IkT-001Pro through clinical development, particularly for PAH (Pulmonary Arterial Hypertension) treatment, leveraging $110 million in proceeds from October financing.

Inhibikase Therapeutics (IKT) reported Q3 2024 financial results and secured transformative financing of up to $275 million from healthcare investors. The company received a Study May Proceed letter for IkT-001Pro in Pulmonary Arterial Hypertension (PAH) and added four new board members. Q3 net loss was $5.8 million ($0.65/share), with R&D expenses at $4.2 million and SG&A at $1.6 million. Cash position was $3.2 million as of September 30, excluding the recent $110 million private placement. The company expects topline data from the Phase 2 201 Trial of risvodetinib in Parkinson's disease in Q4 2024.

Inhibikase Therapeutics (Nasdaq: IKT) has closed a private placement of approximately $110 Million with potential aggregate financing of up to $275 Million. The funds will support the Phase 2b '702' trial of IkT-001Pro in Pulmonary Arterial Hypertension (PAH). IkT-001Pro, containing imatinib, is being developed as a New Molecular Entity and the first oral, potentially disease-modifying treatment for PAH, a rapidly fatal disease primarily affecting women aged 30-60.

The company has appointed four new Board members: Roberto Bellini (Independent Chairperson), Amit Munshi, Arvind Kush, and David Canner. This investment from top-tier healthcare funds recognizes IkT-001Pro's potential to improve PAH patients' lives by potentially addressing the safety and tolerability issues that prevented imatinib's approval over a decade ago.

Inhibikase Therapeutics (Nasdaq: IKT) has announced the pricing of a $110 million private placement to advance IkT-001Pro, an optimized prodrug of Imatinib, into a late-stage trial for Pulmonary Arterial Hypertension (PAH). The financing, led by Soleus Capital, involves selling 58,310,000 shares of common stock and pre-funded warrants for 21,985,000 shares, along with accompanying Series A-1 and B-1 warrants. The purchase price is $1.37 per share.

The company plans to use the proceeds to initiate a Phase 2b trial in PAH. The private placement is expected to close on October 21, 2024. Additionally, four new directors will join the company's board, including Roberto Bellini as Independent Chairperson.

Inhibikase Therapeutics (Nasdaq: IKT) reported Q2 2024 financial results and recent developments. Key highlights include:

1. Completed enrollment for Phase 2 '201' trial of risvodetinib in untreated Parkinson's disease, with topline data expected in November 2024.

2. Advanced IkT-001Pro for Pulmonary Arterial Hypertension (PAH), submitting an IND to the FDA.

3. Scaled manufacturing of IkT-001Pro to support late-stage clinical development and NDA requirements.

4. Raised $4 million in a registered direct offering and private placement.

5. Q2 2024 net loss of $5.0 million ($0.66 per share), compared to $5.8 million ($0.94 per share) in Q2 2023.

6. R&D expenses decreased to $3.1 million from $4.5 million year-over-year.

7. Cash position of $7.9 million as of June 30, 2024, expected to fund operations into December 2024.

Inhibikase Therapeutics (Nasdaq: IKT), a clinical-stage pharmaceutical company focusing on protein kinase inhibitor therapeutics for Parkinson's disease and related disorders, has announced its schedule for reporting second quarter 2024 financial results. The company will release its financial report on August 14, 2024, after U.S. markets close. Following this, Inhibikase will host a conference call and webcast on August 15, 2024, at 8:00 a.m. ET to provide a corporate update and review the financial results.

Investors and interested parties can access the conference call by dialing 1-877-407-0789 (U.S.) or 1-201-689-8562 (International). A live webcast will also be available through a link on the company's website. The webcast will be archived on Inhibikase's website for approximately 90 days after the call.

Inhibikase Therapeutics (Nasdaq: IKT) announced the completion of enrollment in its Phase 2 '201' trial of risvodetinib (risvo), a selective c-Abl inhibitor, for untreated Parkinson's disease patients. The 12-week, randomized, double-blind, placebo-controlled trial involves 120 participants across 32 U.S. sites, with the company expecting to report results in Q4 2024. Out of the enrolled participants, 69 have completed the dosing period. To date, 32 mild and 5 moderate adverse events possibly related to the treatment have been reported, with four participants withdrawing early from the study.