Proceeds from the 25M share offering will fund operations through topline data from a Phase 3 clinical study.
Inhibikase Therapeutics sold 25M shares of common stock to RA Capital Management for $50M in gross proceeds. The transaction was executed through an at-the-market facility, bolstering the company’s cash position.
The financing follows a pre-market share price decline of over 9%. Existing cash reserves, combined with the new capital, are expected to support operations until topline data from Part B of its Phase 3 IMPROVE-PAH study is released.
Shares of IKT reacted negatively in early trading, reflecting investor sentiment ahead of the clinical trial readout.