05:34 PM EDT, 06/13/2024 (MT Newswires) -- Gain Therapeutics ( GANX ) said late on Thursday that it proposes to sell shares (or pre-funded warrants) in an underwritten offering of common stock.
The company expects to grant the underwriter a 30-day option to purchase up to 15% additional shares and pre-funded warrants in the offering.
The company will offer all the securities in the planned sale.
Apart from general corporate purposes, Gain intends to use the net proceeds to continue clinical and nonclinical development of its lead product candidate GT-02287 for neurodegenerative disorders such as GBA1 Parkinson's disease.
Shares of the company sank 11% in after-hours activity.
Price: 1.6500, Change: -0.24, Percent Change: -12.70