Inhibikase Therapeutics Inc SEC Filings

Inhibikase Therapeutics announced an underwritten public offering of 46,091,739 shares of common stock and pre-funded warrants to purchase up to 22,873,779 additional shares. Each share is priced at $1.45 and each pre-funded warrant at $1.449, with an exercise price of $0.001 per share. The company granted underwriters a 30-day option to buy up to 10,344,827 more shares at the public offering price, less underwriting discounts and commissions.

Inhibikase expects net proceeds of approximately $93.6 million, or $107.7 million if the underwriters’ option is fully exercised. The pre-funded warrants are immediately exercisable and include ownership caps generally at 4.99% or 9.99%, adjustable up to 19.99% with notice. The company also amended outstanding Series A-1 and Series B-1 warrants issued in 2024 to reflect its plan to advance IKT-001 to a global pivotal Phase 3 trial in pulmonary arterial hypertension.

Inhibikase Therapeutics, Inc. is conducting a primary offering of 46,091,739 shares of common stock and pre-funded warrants to purchase up to 22,873,779 shares of common stock at $1.45 and $1.449, respectively. The deal is expected to generate gross proceeds of about $99,997,127, with approximately $93.6 million in net proceeds after underwriting fees and expenses. The company plans to use the cash, together with existing funds, mainly to advance its lead PAH candidate IKT-001 through an adaptive Phase 3 program and for broader R&D, potential acquisitions, and general corporate purposes, which it estimates will fund operations into 2029.

Inhibikase Therapeutics has filed a prospectus supplement for a public offering of common stock and, for some investors, pre-funded warrants that are exercisable for common shares at an exercise price of $0.001 per share and do not expire, subject to ownership limits. The warrants are not expected to trade on an exchange.

The company is a clinical-stage pharma focused on cardiopulmonary disease, with lead candidate IKT-001, an oral prodrug of imatinib mesylate for pulmonary arterial hypertension (PAH). IKT-001 has shown bioequivalence to imatinib doses used in prior PAH studies, and the FDA has indicated the 505(b)(2) pathway is appropriate. An adaptive Phase 3 trial in PAH, IMPROVE-PAH, is expected to start in the first quarter of 2026.

As of September 30, 2025, Inhibikase had 74,807,911 common shares outstanding and $77.3 million in cash, cash equivalents and marketable securities. The company previously raised approximately $110 million in an October 2024 private placement to support IKT-001 and holds U.S. patent protection for IKT-001 into 2033, with possible method-of-use protection to 2044. Net proceeds from this offering are expected to fund IKT-001 development, other R&D, possible acquisitions and general corporate purposes, but will cause dilution to new investors. In connection with this deal, the existing ATM prospectus under the $300 million shelf registration has been terminated, though the related sales agreement remains in effect.

Inhibikase Therapeutics plans to advance its drug candidate IKT-001 directly into a global pivotal Phase 3 trial for pulmonary arterial hypertension (PAH). The Phase 3 IMPROVE-PAH study is expected to start in the first quarter of 2026 and use a two-part adaptive design. Part A will be a double-blind, placebo-controlled study in 140 patients with a primary endpoint of pulmonary vascular resistance at Week 24, while Part B will use the same format in 346 patients with a primary endpoint of six-minute walk distance at Week 24. The company believes this design offers advantages such as dose titration to the highest tolerable dose, uninterrupted enrollment, and potential sample size re-estimation. Inhibikase also terminated its at-the-market sales agreement prospectus with Jefferies, having made no stock sales under it, although the underlying sales agreement remains in effect.

Inhibikase Therapeutics (IKT) reported a larger quarterly loss as it advanced PAH development and integrated an asset acquisition. For Q3 ended September 30, 2025, net loss was $11.93 million, driven by higher research and development expense of $7.65 million and selling, general and administrative expense of $5.61 million. Year-to-date net loss reached $35.52 million.

Liquidity remained solid, with cash, cash equivalents and marketable securities totaling about $77.3 million as of September 30, 2025. Operating cash outflow for the nine months was $20.27 million. The CorHepta acquisition was accounted for as an asset acquisition; the Company expensed acquired IPR&D of $7.36 million and recorded a contingent consideration liability of $2.42 million. IKT entered a global license for risvodetinib, receiving $1 upfront and eligibility for up to $47.5 million in milestones plus double‑digit royalties. An at‑the‑market sales agreement with Jefferies for up to $200 million was established; no sales occurred by quarter end.

Cabell Christopher filed an amended Form 3 to report ownership of 1,014,846 shares of Inhibikase Therapeutics, Inc. (IKT) common stock received as merger consideration from the acquisition of CorHepta Pharmaceuticals, Inc. Closed on 02/21/2025. Of the shares, 169,141 vested at closing, 507,423 vest on the first anniversary of closing, and the remaining 338,282 are subject to a milestone vesting schedule: 25% vests upon achievement of a specified milestone and 75% vests on the first anniversary of closing, with forfeiture of the 338,282 shares if the milestone is not achieved by that anniversary. The reporting person is identified as a director and an officer (President & Head of R&D). The amendment states these shares were inadvertently omitted from the original Form 3 filed on 02/25/2025.

Inhibikase Therapeutics director Aurentz Vincent reported beneficial ownership of 765,895 shares of common stock in an amended Form 3/A. These shares were issued as merger consideration in connection with the acquisition of CorHepta Pharmaceuticals completed on 02/21/2025 and were added to an earlier Form 3 filed 02/25/2025.

Of the 765,895 shares, 127,649 vested on the closing date, 382,947 will vest on the first anniversary of the closing date, and 255,299 are contingent: 25% of that tranche vests upon achievement of a specified milestone and 75% vests on the first anniversary, subject to continued service; if the milestone is not achieved by the first anniversary, all 255,299 shares are forfeited.

Insider share issuance tied to acquisition: This Form 4 shows director Amit Munshi received 57,265 shares of Inhibikase Therapeutics, Inc. (IKT) on 02/21/2025 as merger consideration for the acquisition of CorHepta Pharmaceuticals, Inc. Of those shares, 9,544 vested immediately on closing and 28,632 are scheduled to vest on the first anniversary of the closing. The remaining 19,089 shares are subject to a milestone-based vesting condition: 25% of that portion vests if a specified milestone is achieved and 75% vests on the first anniversary of closing, provided the reporting person continues service; if the milestone is not achieved by the first anniversary, all 19,089 shares are forfeited. The Form also discloses Mr. Munshi beneficially owns 365,000 shares indirectly through the Amit Munshi Revocable Trust. The filing is signed by an attorney-in-fact on 08/28/2025.

ADAR1 entities and manager Daniel Schneeberger report collectively holding 7,682,503 to 7,737,694 shares of Inhibikase Therapeutics, Inc. (IKT), representing 9.9% of the outstanding common stock as of June 30, 2025. The filing breaks down holdings across ADAR1 Partners, LP; Spearhead Insurance Solutions IDF, LLC; and ADAR1 SPV I, LP, and includes both issued shares and shares underlying milestone warrants. The filing also discloses that additional milestone warrants (several million shares) are excluded from beneficial ownership calculations because their exercise or exchange is subject to a 9.99% ownership limitation. The report is filed under Schedule 13G/A and is signed by Daniel Schneeberger as manager and in his individual capacity.