Gain Therapeutics falls on pricing stock-and-warrants offering

Gain Therapeutics

16/07/2025 14:19

** Shares of Gain Therapeutics GANX.O down 8.8% premarket to $1.55 after follow-on prices

** Bethesda, Maryland-based firm announces offering of ~4.5 mln shares and warrants to buy up to ~2.3 mln shares for gross proceeds of $7 mln

** Effective price of $1.55/sh compares to stock's last sale of $1.70 on Tues

** 5-yr warrants are exerciseable immediately and have exercise price of $1.65

** Co intends to use net offering proceeds to continue clinical/nonclinical development of its lead product candidate GT-02287 for treatment of neurodegenerative diseases, including GBA1 Parkinson’s disease

** As of May 31, co had ~30.1 mln shares outstanding, per the prospectus

** Newbridge Securities sole bookrunner for offering

** GANX on Tues closed down 8.6%, down 21% YTD

** All 7 analysts covering GANX are bullish and median PT is $8, according to LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))