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Inhibikase Therapeutics Announces Pricing of $110 Million Private Placement to Advance IkT-001Pro, an Optimized Prodrug of Imatinib, into a Late-Stage Trial in Pulmonary Arterial Hypertension
Inhibikase Therapeutics (Nasdaq: IKT)has announced the pricing of a $110 million private placement to advance IkT-001Pro, an optimized prodrug of Imatinib, into a late-stage trial for Pulmonary Arterial Hypertension (PAH). The financing, led by Soleus Capital, involves selling 58,310,000 shares of common stock and pre-funded warrants for 21,985,000 shares, along with accompanying Series A-1 and B-1 warrants. The purchase price is $1.37 per share.
The company plans to use the proceeds to initiate a Phase 2b trial in PAH. The private placement is expected to close on October 21, 2024. Additionally, four new directors will join the company's board, including Roberto Bellini as Independent Chairperson.
The company plans to use the proceeds to initiate a Phase 2b trial in PAH. The private placement is expected to close on October 21, 2024. Additionally, four new directors will join the company's board, including Roberto Bellini as Independent Chairperson.
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