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

Core Viewpoint - Inhibikase Therapeutics, Inc. has announced a private placement financing of approximately $110 million to support the initiation of a Phase 2b trial in pulmonary arterial hypertension and for general corporate purposes [1][5]. Group 1: Financing Details - The private placement is led by Soleus Capital and includes participation from several new investors such as Sands Capital, Fairmount, and Blackstone Multi-Asset Investing [2]. - The company is selling a total of 58,310,000 shares of common stock and pre-funded warrants to purchase up to 21,985,000 shares, along with Series A-1 and Series B-1 warrants [4]. - The purchase price for each share of common stock and accompanying warrants is set at$1.37, while the pre-funded warrants are priced at $1.369 [4]. Group 2: Board Changes - Two current board members, Ms. Gisele Dion and Dr. Paul Grint, will resign, and four new directors will join the board, including Roberto Bellini and Amit Munshi [3]. - Roberto Bellini will serve as the Independent Chairperson of the Board of Directors [3]. Group 3: Company Overview - Inhibikase Therapeutics is a clinical-stage pharmaceutical company focused on developing Abelson Tyrosine Kinase inhibitor therapeutics for cardiopulmonary and neurodegenerative diseases [9]. - The company's pipeline includes IkT-001Pro for pulmonary arterial hypertension and risvodetinib for neurodegenerative diseases such as Parkinson's disease [9].