Leap Therapeutic Stock Price, News & Analysis

Leap Therapeutics, Inc. (Nasdaq: LPTX) announced participation in the Piper Sandler 33rd Annual Virtual Healthcare Conference from November 29 to December 2, 2021. Members of the senior management team will engage in a fireside chat, with a replay available on the company’s Investors page starting November 22, 2021, at 10:00 a.m. ET. Leap is focused on developing targeted immuno-oncology therapeutics, with its lead candidate, DKN-01, currently in trials for various cancers. For more details, visit Leap's website.

Leap Therapeutics (Nasdaq:LPTX) reported its third quarter financial results for 2021, revealing a net loss of $11.1 million, up from $7.1 million in Q3 2020. The company successfully completed a $103.6 million public offering, netting $96.8 million. Positive initial data from the DisTinGuish Study of DKN-01 plus tislelizumab indicated a 68.2% overall response rate in first-line gastric cancer patients. R&D expenses rose to $10.1 million, attributed to increased clinical trial costs and staffing. Cash and equivalents stood at $124.8 million as of September 30, 2021.

Leap Therapeutics, Inc. (Nasdaq:LPTX) closed a public offering of 27,568,072 shares of common stock, raising approximately $104 million. This amount includes $7.25 million from collaborator BeiGene, Ltd. The offering included the additional sale of 4,740,000 shares due to underwriters' exercised options and 8,771,928 pre-funded warrants. Piper Sandler, Raymond James, and Mizuho acted as book-running managers. Proceeds will assist in advancing Leap's clinical programs, particularly for their leading candidate, DKN-01, which targets various cancers.

Leap Therapeutics (Nasdaq:LPTX) announced a public offering of common stock priced at $2.85 per share, alongside pre-funded warrants at $2.849 each. This offering is projected to raise approximately $90 million in gross proceeds, anticipated to close around September 24, 2021. The company will use the funds for further development of its drug candidate DKN-01, manufacturing clinical trial materials, and general corporate purposes. The offering includes an option for underwriters to purchase an additional 4,740,000 shares.

Leap Therapeutics (Nasdaq:LPTX) announced a proposed public offering of common stock and pre-funded warrants on Sept. 21, 2021. The offering will include a 30-day option for underwriters to purchase an additional 15%. Proceeds will fund the development of DKN-01, manufacturing clinical trial materials, and general corporate purposes. The offering is subject to market and regulatory conditions. Piper Sandler, Raymond James, and Mizuho Securities will act as book-running managers. The securities are part of an effective shelf registration.

Leap Therapeutics (Nasdaq:LPTX) presented updated positive data from the DisTinGuish study at the ESMO Congress. This Phase 2a clinical trial evaluated DKN-01, an anti-Dickkopf-1 antibody, in combination with tislelizumab and chemotherapy for gastric cancer patients. Results indicated a 68.2% overall response rate (ORR), with 90% in patients with high DKK1 expression. Notably, treatment efficacy was observed irrespective of PD-L1 expression levels. The company plans to discuss these findings further in a conference call on September 17, 2021.

Leap Therapeutics (Nasdaq:LPTX) will present initial data from the Phase 2a DisTinGuish study at the ESMO Congress from September 16-21, 2021. This study evaluates DKN-01, an anti-Dickkopf-1 antibody, combined with BeiGene's tislelizumab and chemotherapy in patients with gastric or gastroesophageal junction cancer. Preliminary results show a compelling overall response rate (ORR) of 68.2% for all patients, with a notable 90% ORR in DKK1-high patients. A conference call on September 17, 2021 will discuss these findings further.

Leap Therapeutics (Nasdaq: LPTX), a biotechnology firm focused on immuno-oncology therapeutics, announced that its CEO, Douglas E. Onsi, will present at two virtual investor conferences:

• H.C. Wainwright 23rd Annual Global Investment Conference: September 13, 2021, at 7:00 a.m. ET
• Baird 2021 Global Healthcare Conference: September 15, 2021, at 3:10 p.m. ET

Webcasts of both events will be available on the company's Investor page. Leap is advancing its clinical candidate, DKN-01, targeting multiple cancers.

Leap Therapeutics, Inc. (LPTX) reported a net loss of $9.5 million for Q2 2021, up from $6.5 million in 2020. License revenues remained stable at $0.4 million. Research and development expenses increased to $7.2 million, largely due to higher payroll and clinical trial costs. General and administrative expenses rose to $2.8 million. Cash reserves stood at $35.7 million as of June 30, 2021. The company completed enrollment in the DisTinGuish study for DKN-01 and plans to present initial data at the ESMO Congress in September 2021.