Business
Gain Therapeutics, Inc. Reports Full Year 2021 Financial Results and Business Update
$36.88 Million in cash as of December 31, 2021, provides runway into second half of 2023 and a strong cash position to transition the Company’s lead program
About this update from Gain Therapeutics, Inc.
[{"type":"text","content":"$36.88 Million in cash as of December 31, 2021, provides runway into second half of 2023 and a strong cash position to transition the Company’s lead program into clinical trials ---Compelling preclinical data presented on lead program GBA1 Parkinson’s Disease at multiple scientific conferences supports transition to clinical stage company with FIH trial by year end --- Entered into multi-target deal with Zentalis Pharmaceuticals to identify novel small molecules for oncology indications BETHESDA, Md., March 24, 2022 (GLOBE NEWSWIRE) -- Gain Therapeutics, Inc. (Nasdaq: GANX) (“Gain”, or the “Company”), a biotechnology company focused on identifying and optimizing allosteric binding sites that have never been targeted in neurodegenerative diseases and lysosomal storage disorders, today announced its financial results for the full year ended December 31, 2021 and highlighted recent corporate accomplishments. “Gain finished an extraordinary year of building value and accelerating its lead program to the clinic to provide a potentially disease modifying treatment for patients suffering from GBA1 Parkinson’s Disease,” commented Eric Richman, Chief Executive Officer of Gain. “This program as well as our other programs in our R&D pipeline provide tangible validation of our strategy to target novel allosteric binding sites with small molecules identified with SEE-Tx, our supercomputer-powered computational target and drug discovery platform.” Recent Developments Hosted Research and Development Day “Neuroscience and Beyond: Harnessing Computational Technology and Allosteric Modulators to Drug the Undruggable” Presented preclinical data on its structurally targeted allosteric regulators in GBA1 Gaucher disease at the 2022 World Symposium held on February 7-11 in San Diego, California. The data generated in GD-iPSC-derived dopaminergic neurons show that the administration of the tested compounds leads to an increase the GCase enzyme levels and enables trafficking of the enzyme to the lysosome, where the enzyme depletes the toxic substrate glucosylceramide as well as phosphorylated alpha-synuclein and increases autophagic flux. Progressed IP portfolio with published patent applications for lead compounds in GBA1 program (Gaucher disease and Parkinson’s disease), GALC program (Krabbe disease), and PCT filing for IDUA program (Mucopolysacchari...