Gain Therapeutics Inc. (GANX) has announced its intention to offer and sell shares of its common stock through an underwritten public offering. Additionally, Gain Therapeutics anticipates granting the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock and pre-funded warrants included in the offering.
The company has indicated that the net proceeds from this offering will be allocated towards the ongoing clinical and preclinical development of its lead product candidate, GT-02287, aimed at treating neurodegenerative diseases such as GBA1 Parkinson's disease. Funds will also be used for general corporate purposes.
The final terms of the offering will be determined based on market conditions and other variables at the time of pricing. There is no certainty regarding the completion of the offering, nor the precise size or terms that will ultimately be set.
