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There must be a bottom here at some point. But who wants to try to catch this falling knife.
Better to wait for a high volume close above the 10 DMA before getting in, imo.
Inhibikase Therapeutics gets FDA clearance for early-stage Parkinson's disease trial
Jul. 26, 2021 By: Aakash Babu, SA News Editor
Inhibikase Therapeutics (NASDAQ:IKT) announces that the U.S. FDA has given the company the greenlight to begin a Phase 1b extension study to evaluate its lead drug candidate IkT-148009 in Parkinson's disease (PD) patients.
Shares up nearly 19% premarket.
The randomized Phase 1 study investigated the safety, tolerability and pharmacokinetics (PK) of IkT-148009 in healthy volunteers aged 45 to 70 years old.
Forty-two patients were dosed with IkT-148009 between 12.5 and 100 mg with no clinically significant adverse events reported.
PD is a progressive neurodegenerative disease, and affects about 1M persons in the United States.
ProfitScout? Do you have any insight on how poorly IKT is acting? Any near term catalyst that would get the attention of investors?
When you sell $45 million worth of shares at $3 and the stock goes to a 15% discount to THAT DISCOUNTED $3 price, you have a huge probability that $3 is the near term resistance.
So, who would buy now with the prospects very poor that a $3 plus price is possible in the near term?
Thanks in advance for any opinion you can advance.
There will be a time that IKT turns up. But I wonder how much damage has been done in the investment world to have a $10 IPO in December. Then do a secondary at a huge discount to the market price--at $3-- within months.
Now IKT is trading BELOW the last secondary.
But--When it turns up, I think it will be quick and fast run to $4. Worthy appreciation potential for the risk.
The RSI is under 30--and it is rare that a stock stays down there for long.
About Inhibikase (www.inhibikase.com)
Inhibikase Therapeutics, Inc. (NASDAQ: IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently completing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.
IKT should get at lot more attention as the company moves forward with its groundbreaking work in the very important bio research sector of neurological diseases including Parkinsons. The clinical stage trials taking place at this time hold a lot of promise.
About Inhibikase (http://www.inhibikase.com)
Inhibikase Therapeutics, Inc. (NASDAQ: IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently performing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.
What happened that explains how IKT did an IPO in December and had to go back to the market at a price of only 30% of the original IPO?
Bought an initial position at $2.90--lower than the recent big investors buying in .
Yes, IKT is putting all needed funding into place so the company can fulfill it current business plans for the very important goal of effectively treating Parkinson's Disease and other serious neurological conditions.
Inhibikase Therapeutics Prices Follow-On Public Offering of Common Stock
ATLANTA, June 15, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (Nasdaq: IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced the pricing of an underwritten public offering of 15 million shares of its common stock at a public offering price of $3.00 per share for total gross proceeds of approximately $45 million (the "Offering) before deducting underwriting discounts and commissions and offering expenses payable by Inhibikase. In addition, Inhibikase has granted the underwriters a 45-day option to purchase up to 2.25 million additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on June 18, 2021, subject to customary closing conditions.
Inhibikase intends to use the net proceeds from the public offering, together with existing funds, to fund the costs of a Phase 1b extension study for IkT-148009 in Parkinson's patients and to validate target engagement markers in the central and peripheral nervous system; to fund production of IkT-148009 for Phase 1b and Phase 2 clinical studies and to fund a Phase 2 efficacy trial of IkT-148009 in Parkinson's patients. This funding will further support the clinical dose calibration study(ies) of IkT-001Pro in healthy subjects to support approval under the Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act and to fund drug product production for IkT-001Pro. The balance will support general research and development activities, medicinal chemistry for additional molecules and IND-enabling studies, team building, and other general corporate activities
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering. JonesTrading Institutional Services LLC is acting as the co-manager for the offering.
The offering is being made pursuant to a registration statement on Form S-1 (File No. 333-257032) that was declared effective by the Securities and Exchange Commission (the "SEC") on June 15, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at prospectus@think-equity.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Inhibikase (http://www.inhibikase.com)
Inhibikase Therapeutics, Inc. (NASDAQ: IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently completing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.
Social Media Disclaimer
Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions and include statements regarding the expected timing of the closing of the offering, the possible offering of additional shares, the intended use of proceeds and the intended treatment Parkinson's disease inside and outside the brain. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those risk factors set forth from time to time in Inhibikase's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 31, 2021, including under the caption "Risk Factors ." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
https://c212.net/c/img/favicon.png?sn=CL12665&sd=2021-06-15 View original content:http://www.prnewswire.com/news-releases/inhibikase-therapeutics-prices-follow-on-public-offering-of-common-stock-301313206.html
SOURCE Inhibikase Therapeutics, Inc.
$IKT News Out! Inhibikase Therapeutics Prices Follow-On Public Offering of Common Stock https://finance.yahoo.com/news/inhibikase-therapeutics-prices-public-offering-234000565.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
Did I miss something today? Why the gap down?
TIA
IKT looks to have quite promising treatments coming for the very serious issue of Parkinson's Disease to actually reverse its debilitating symptoms.
From the company website:
IkT-148009 for Parkinson’s Disease
Our lead small-molecule product candidate, IkT-148009, is an Abelson tyrosine kinase inhibitor (a c-Abl inhibitor) that targets underlying disease mechanisms to halt the progression and reverse functional loss of Parkinson’s disease in the brain and the GI complications of Parkinson’s disease. We believe that IkT-148009 is the only disease-modifying drug in development for Parkinson’s disease that is focused on a clinically validated target and that IkT-148009 has the potential to be the first disease-modifying therapy for Parkinson’s disease that blocks a checkpoint on the pathway that drives Parkinson’s disease progression.
ABOUT IKT-148009
First-in-class Therapy to Reverse the Course of Parkinson’s Disease
Inhibikase Therapeutics’ lead product candidate, IkT-148009, is a highly potent, first-in-class, small-molecule medication designed and engineered as a chronically administered, once-daily oral medication that targets an underlying biological mechanism that leads to Parkinson’s disease, with the goal of halting disease progression and reversing functional loss. IkT-148009 is designed to block the activation of Abl kinase, a clinically validated drug target, to halt and reverse the loss of dopamine-secreting neurons in the brain and GI tract by restoring neuroprotective mechanisms.Having demonstrated that Abl kinase inhibition can protect against disruption of development and progression of Parkinson’s-like syndrome in the brain and GI tract in animal models using IkT-148009, we submitted two Investigational New Drug (IND) applications in February, 2019, to begin clinical development in multiple classes of Parkinson’s patients. Clinical development should proceed through 2024.
Recent PRESS RELEASES
MAY 25, 2021 8:00AM EDT
Inhibikase Therapeutics to Present at Upcoming Jefferies Virtual Healthcare Conference & Others
MAY 17, 2021 4:05PM EDT
Inhibikase Therapeutics Reports First Quarter 2021 Financial Results and Highlights Recent Period Activity
APR 21, 2021 8:00AM EDT
Inhibikase Therapeutics to Present at Sachs 4th Annual Neuroscience Innovation Forum
APR 01, 2021 8:00AM EDT
Inhibikase Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Highlights Recent Period Activity
MAR 02, 2021 8:05AM EST
Inhibikase Therapeutics to Present at H.C. Wainwright & Co. Global Life Sciences Virtual Conference
FEB 22, 2021 8:05AM EST
Inhibikase Therapeutics to Present at the American Society of Experimental Neurotherapeutics (ASENT) Conference
FEB 17, 2021 8:05AM EST
Inhibikase Therapeutics Announces First Patients Dosed in Phase 1 Clinical Trial of IkT-148009 to Treat Parkinson’s Disease and Related Disorders
JAN 04, 2021 8:01AM EST
Inhibikase Therapeutics Announces Partnership with Clintrex Research Corporation; C. Warren Olanow, MD, to Serve as Interim Chief Medical Officer
DEC 28, 2020 10:33AM EST
Inhibikase Therapeutics Announces Closing of Initial Public Offering
Very good to see that there will be another presentation of the IKT neurology advancements coming up this week on Thursday 6/10. Note that you can get the replay at any time afterwards which is much more convenient for investors and researchers to review.
LD Micro Virtual Invitational XI
Date: Thursday, June 10, 2021
Time: 11:30am ET
Dr. Werner will present and discuss the clinical pharmacokinetics and adverse event profile of IkT-148009, the Company's lead asset being developed for the treatment of Parkinson's disease in the brain and gastrointestinal tract.
Webcasts of the presentations will be available for on-demand viewing under "News & Events" in the Investors section of the Company's website, http://www.inhibikase.com. An archived replay of the webcasts will be available for approximately 30 days following each event.
The Company also announced a presentation on JUNE 10 by Dr. Werner at the LD Micro Virtual Invitational XI:
LD Micro Virtual Invitational XI
Date: Thursday, June 10, 2021
Time: 11:30am ET
Dr. Werner will present and discuss the clinical pharmacokinetics and adverse event profile of IkT-148009, the Company's lead asset being developed for the treatment of Parkinson's disease in the brain and gastrointestinal tract.
Webcasts of the presentations will be available for on-demand viewing under "News & Events" in the Investors section of the Company's website, www.inhibikase.com. An archived replay of the webcasts will be available for approximately 30 days following each event.
About Inhibikase (www.inhibikase.com) $IKT
"2020 was a transformative year for Inhibikase, as we successfully completed our IPO and worked diligently to advance our novel programs to treat neurodegenerative diseases towards the clinic," commented Milton Werner, Ph.D., President and Chief Executive Officer of Inhibikase. "Just recently, we were pleased to announce the advancement of our lead candidate, IkT-148009, into a Phase 1 dose escalation study to evaluate the safety, tolerability and pharmacokinetics in elderly volunteers. Early data from this study has been encouraging and we are shortening the timeline to completion by six or more months, with an expectation to move into early patient studies this year. We believe that IKT-148009 could be a transformative therapy for millions of Parkinson's patients worldwide. Simultaneously, we have advanced our oncology clinical candidate, IkT-001Pro, into manufacturing and expect to initiate clinical development early in the third quarter. Our highly dedicated team has exceeded all of our internal expectations to move these clinical programs forward for the benefit of patients." $IKT
Key Business and Clinical Highlights
Completed Initial Public Offering: In December 2020, Inhibikase successfully completed its initial public offering (IPO) of 1,800,000 shares of common stock at a public offering price of $10.00 per share. The Company received aggregate net proceeds of approximately $14.60 million after deducting offering costs, underwriting discounts and commissions.
Commenced Dosing of Patients in Phase 1 Study of IkT-148009 for the treatment of PD and associated GI Disorders: In February 2021, Inhibikase commenced patient dosing in older and elderly healthy volunteers in a Phase 1 randomized single ascending dose and multiple ascending dose study to determine the safety, tolerability and pharmacokinetics of IkT-148009. IkT-148009 is a novel brain penetrant Abelson tyrosine kinase, or c-Abl, inhibitor intended to be used to modify Parkinson's disease and its gastrointestinal complications. $IKT
Inhibikase Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Highlights Recent Period Activity
Published: April 1, 2021 at 8:00 a.m. ET
ATLANTA, April 1, 2021 /PRNewswire via COMTEX/ -- ATLANTA, April 1, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (Nasdaq: IKT), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease (PD) and related disorders inside and outside of the brain, today reported financial results for the fourth quarter and full year ended December 31, 2020 and highlighted recent developments.
Key Business and Clinical Highlights
Completed Initial Public Offering: In December 2020, Inhibikase successfully completed its initial public offering (IPO) of 1,800,000 shares of common stock at a public offering price of $10.00 per share. The Company received aggregate net proceeds of approximately $14.60 million after deducting offering costs, underwriting discounts and commissions.
Commenced Dosing of Patients in Phase 1 Study of IkT-148009 for the treatment of PD and associated GI Disorders: In February 2021, Inhibikase commenced patient dosing in older and elderly healthy volunteers in a Phase 1 randomized single ascending dose and multiple ascending dose study to determine the safety, tolerability and pharmacokinetics of IkT-148009. IkT-148009 is a novel brain penetrant Abelson tyrosine kinase, or c-Abl, inhibitor intended to be used to modify Parkinson's disease and its gastrointestinal complications.
Accelerated timelines for completion of the Phase 1 trial and initiation of dosing in PD patients. Early data from this study have led to a reduction in the timelines for completion of the study by 6 or more months, providing the opportunity to obtain regulatory approval to commence dosing of PD patients much earlier than previously anticipated.
Commenced chronic toxicology studies of IkT-148009 to permit long-term dosing in patients. In January, 2021 Inhibikase commenced 3 month and 6 month long-term toxicology studies of IkT-148009 in rats and 3 month and 9 month long-term toxicology studies of IkT-148009 in monkeys as required to obtain regulatory approval for chronic administration of IkT-148009 in patients. These studies are expected to be completed in the fourth quarter of 2021.
Commenced clinical batch manufacturing and pill formulation of IkT-001Pro in preparation for an Investigational New Drug application filing in the second quarter of 2021. In February, 2021 Inhibikase commenced clinical batch manufacturing and final product formulation of IkT-001Pro as a film-coated tablet in preparation for regulatory filing with the Food and Drug Administration to initiate clinical development. This regulatory filing is anticipated to be completed near the end of the second quarter of 2021, with initiation of clinical development 30 days after the filing, subject to FDA agreement and issuance of a Study May Proceed notification.
"2020 was a transformative year for Inhibikase, as we successfully completed our IPO and worked diligently to advance our novel programs to treat neurodegenerative diseases towards the clinic," commented Milton Werner, Ph.D., President and Chief Executive Officer of Inhibikase. "Just recently, we were pleased to announce the advancement of our lead candidate, IkT-148009, into a Phase 1 dose escalation study to evaluate the safety, tolerability and pharmacokinetics in elderly volunteers. Early data from this study has been encouraging and we are shortening the timeline to completion by six or more months, with an expectation to move into early patient studies this year. We believe that IKT-148009 could be a transformative therapy for millions of Parkinson's patients worldwide. Simultaneously, we have advanced our oncology clinical candidate, IkT-001Pro, into manufacturing and expect to initiate clinical development early in the third quarter. Our highly dedicated team has exceeded all of our internal expectations to move these clinical programs forward for the benefit of patients."
Fourth Quarter and Full Year 2020 Financial Review
Net Loss: Net loss for the fourth quarter ended December 31, 2020, was $1.21 million, or $0.15 per share, compared to a net loss of $0.43 million, or $0.05 per share for the fourth quarter 2019. For the full year ended December 31, 2020, net loss was $2.85 million, or $0.35 per share, compared to a net loss of $5.72 million, or $0.70 per share, for the same period in 2019.
R&D Expenses: Research and development expenses were $0.23 million for the fourth quarter 2020, compared to $0.27 million for the same period in 2019. For the full year 2020, research and development expenses were $0.89 million, compared to $2.55 million for the same period in 2019. The decrease was primarily driven by a decline in grant related research expenditures and non-grant related research.
SG&A Expenses: Selling, general and administrative expenses for the fourth quarter 2020 were $1.14 million compared to $0.39 million for the fourth quarter 2019. For the full year 2020, selling, general and administrative expenses were $2.62 million, compared to $4.27 million for the same period in 2019. The decrease was primarily related to a non-recurring 2019 charge of $1.59 million of deferred IPO costs in connection with the 2018 abandoned IPO effort plus net decrease in all other selling, general and administrative expenses of $0.06 million.
Cash Position: Cash and cash equivalents were $13.95 million as of December 31, 2020.
About Inhibikase (www.inhibikase.com) Inhibikase Therapeutics, Inc. (NASDAQ: IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently performing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.
Social Media Disclaimer
Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.
The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and others interested in our company to review the information we make available through these channels. in addition to following the company's press releases, SEC filings and public conference calls and webcasts. This list may be updated from time to time.
Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth from time to time in Inhibikase's filings with the SEC, including its annual report on Form 10-K filed on March 31, 2021, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Inhibikase Therapeutics to Present at Upcoming Jefferies Virtual Healthcare Conference & Others
News Link:
https://www.otcmarkets.com/stock/IKT/news/story?e&id=1905612
Inhibikase Therapeutics Reports First Quarter 2021 Financial Results and Highlights Recent Period Activity
May 17, 2021
News Link:
https://www.inhibikase.com/news/press-releases/detail/32/inhibikase-therapeutics-reports-first-quarter-2021
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Inhibikase Therapeutics, Inc. (Nasdaq: IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, targets the treatment of Parkinson's disease inside and outside the brain. Its multi-therapeutic pipeline is pursuing Parkinson's-related disorders of the brain and GI tract, orphan indications related to Parkinson's disease such as Multiple System Atrophy, and drug delivery technologies for kinase inhibitors such as IkT-001Pro, a prodrug of the anticancer agent Imatinib that the Company believes will provide a better patient experience with fewer on-dosing side-effects. The Company's RAMP™ medicinal chemistry program has identified a number of follow-on compounds to IkT-148009 to be potentially applied to other cognitive and motor function diseases of the brain. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.
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