Welcome to our dedicated page for Inhibikase Therapeutics news (Ticker: IKT), a resource for investors and traders seeking the latest updates and insights on Inhibikase Therapeutics stock.
Inhibikase Therapeutics Inc (IKT) is a clinical-stage pharmaceutical company pioneering protein kinase inhibitors for neurodegenerative disorders, including Parkinson's disease. This page serves as the definitive source for official announcements, clinical trial updates, and strategic developments from the company.
Investors and researchers will find curated updates on drug pipeline progress, regulatory milestones, and scientific advancements. Our collection includes earnings reports, partnership announcements, preclinical study results, and FDA correspondence related to candidates like Risvodetinib (IkT-148009) and IkT-001Pro.
All content is rigorously verified to ensure compliance with financial disclosure standards. Bookmark this page for real-time updates on:
• Clinical trial phases for Parkinson's-focused therapies
• Regulatory filings and agency interactions
• Peer-reviewed research publications
• Strategic collaborations in neurodegenerative research
For stakeholders tracking kinase inhibitor development and neurodegenerative treatment innovation, this resource provides essential updates directly from Inhibikase Therapeutics' corporate communications.
Inhibikase Therapeutics (Nasdaq: IKT) is expanding its therapeutic pipeline and updating its R&D programs. The company is positioning multiple assets for late-stage development, particularly for Parkinson's disease (PD) and related disorders. The 201 Trial for untreated PD is 94% enrolled, with completion expected by mid-June 2024. Inhibikase is also seeking grant funding for its 202 Trial in Multiple System Atrophy (MSA) through NINDS. Additionally, following a pre-IND meeting with the FDA, the company will redirect IkT-001Pro towards cardiopulmonary disease, specifically Pulmonary Arterial Hypertension (PAH). The company will submit an IND application for IkT-001Pro for PAH early in Q3 2024. Inhibikase is also scaling manufacturing of IkT-001Pro to support late-stage development and NDA requirements. Lastly, the company will discontinue antiviral development for PML to focus on late-stage assets in neurodegeneration, cancer, and cardiopulmonary disease.
Inhibikase Therapeutics announced a registered direct offering and warrant inducement, totaling gross proceeds of $4.0 million. The agreement includes 1,672,452 shares of common stock or pre-funded warrants, and corresponding Series A and B warrants for the same amount, all priced at $1.68 per share. Additionally, the company has amended the exercise price for outstanding warrants from January 2023 to $1.68, resulting in the immediate exercise of 708,500 shares and issuance of new Series C and D warrants. The proceeds are before placement agent fees and are expected to close by May 22, 2024.
Inhibikase Therapeutics reported its Q1 2024 financial results and recent developments. The net loss for Q1 2024 was $4.6 million ($0.73 per share), slightly higher than Q1 2023's $4.5 million ($0.98 per share). R&D expenses decreased to $2.8 million from $2.9 million, primarily due to reduced costs for IkT-001Pro, while SG&A expenses increased to $2.0 million from $1.9 million.
The Phase 2 trial for Risvodetinib in Parkinson's disease is 83% enrolled, with final enrollment expected in June 2024. The company completed Pre-NDA and Pre-IND meetings with the FDA for IkT-001Pro, targeting oncology and pulmonary arterial hypertension. Cash reserves stand at $9.7 million, projected to fund operations through November 2024.
Inhibikase will host a conference call on May 16, 2024, at 8:00 a.m. ET to discuss these results.
Inhibikase Therapeutics announced the withdrawal of its Registration Statement on Form S-1, initially filed with the SEC on April 19, 2024. The company confirmed that the S-1 had not yet been declared effective and that no securities were sold related to this filing. This action reflects a strategic decision not to proceed with the offering at this time. The press release clarifies that this announcement does not constitute an offer to sell or solicit offers to buy any securities of the company.
Inhibikase Therapeutics, Inc. (Nasdaq: IKT) announced outcomes from the final pre-IND meeting with the FDA for IkT-001Pro as a treatment for Pulmonary Arterial Hypertension. The FDA designated IkT-001Pro as a New Molecular Entity, allowing for exclusivity designations. The Company is preparing the IND application for Pro, a potential branded product for PAH, a deadly disease with treatment options.
FAQ
What is the current stock price of Inhibikase Therapeutics (IKT)?
What is the market cap of Inhibikase Therapeutics (IKT)?
