Gain Therapeutics Prices $11 Million Public Offering

Gain Therapeutics, Inc. (Nasdaq: GANX), a clinical-stage biotechnology firm, announced the pricing of a public offering involving 7,116,547 shares of common stock at a price of $1.35 per share. Additionally, the offering includes pre-funded warrants for the purchase of 1,031,602 shares of common stock for select investors, which are exercisable immediately with a purchase price per warrant set at $0.0001 less than the common stock price. The exercise price per share for the pre-funded warrants is $0.0001.

As part of the transaction, the company has granted the underwriter a 30-day option to purchase up to an additional 1,222,222 shares of common stock at the public offering price, excluding underwriting discounts and commissions. Titan Partners Group, a division of American Capital Partners, is serving as the sole bookrunner for this offering.

Gain anticipates gross proceeds of approximately $11.0 million from this transaction, not accounting for any potential additional shares purchased through the underwriter's option or other offering-related expenses. The closing of the offering is expected around June 17, 2024, pending standard closing conditions.

The proceeds from this offering will be directed towards advancing the clinical and nonclinical development of Gain’s leading product candidate, GT-02287. This candidate targets neurodegenerative diseases, specifically GBA1 Parkinson’s disease. Remaining funds will be used for general corporate purposes.

The securities are offered through a prospectus supplement and a base prospectus as part of a shelf registration statement (File No. 333-265061) previously filed with and made effective by the Securities and Exchange Commission (SEC) on June 1, 2022. Both the preliminary prospectus supplement and accompanying base prospectus were filed with the SEC and are accessible via the SEC’s website. The final prospectus supplement will also be available on the SEC’s website upon filing.

Gain Therapeutics, Inc. specializes in discovering and developing next-generation allosteric therapies. Their advanced drug candidate, GT-02287, is undergoing Phase 1 clinical trials for GBA1 Parkinson’s disease. Gain uses its proprietary Magellan™ platform, which combines AI-supported structural biology, advanced algorithms, and supercomputer-powered models to identify novel allosteric binding sites on protein targets. This technology enables the discovery of pockets on disease-linked proteins that are overlooked by current methods. Their AI and machine-learning tools, combined with virtual screening capabilities, sift through vast compound libraries to identify potential small molecule hits for experimental validation.

Gain’s innovative approach aims to discover new allosteric small molecule modulators capable of restoring or altering protein functions. This platform accelerates drug discovery and opens the door to novel treatments for complex diseases such as neurodegenerative conditions, rare genetic disorders, and cancer.

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