Business
Gain Therapeutics, Inc. Reports Third Quarter 2022 Financial Results and Business Update
Presented New Preclinical Data at Recent Medical Meetings Showing Disease-Modifying Potential of Brain Penetrant Small Molecule Parkinson’s Disease
About this update from Gain Therapeutics, Inc.
[{"type":"text","content":"Presented New Preclinical Data at Recent Medical Meetings Showing Disease-Modifying Potential of Brain Penetrant Small Molecule Parkinson’s Disease Therapeutic, GT-02287 Promoted Matthias Alder to Chief Executive Officer and Appointed him to the Board of Directors $25.7 Million in Cash and Cash Equivalents and Marketable Securities as of September 30, 2022 Provides Strong Financial Foundation and Extends Cash Runway into Q2 2024 BETHESDA, Md., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Gain Therapeutics, Inc. (Nasdaq: GANX) (“Gain”, or the “Company”), a biotechnology company transforming drug discovery with its proprietary computational discovery platform identifying novel allosteric binding sites and creating small molecule treatments, today announced its financial results for the third quarter ended September 30, 2022, and highlighted recent corporate progress. “During the third quarter, we presented further compelling preclinical data at medical meetings highlighting the novel attributes of our lead Parkinson’s disease candidate, GT-02287,” said Matthias Alder, Chief Executive Officer. “The latest preclinical data provide further validation of the potential utility of our approach and mechanism of action of GT-02287. Notably, these data demonstrated that GT-02287 protected against neuronal and lysosomal pathology, and more importantly, prevented or reduced fine motor skill impairment in mice, key pathophysiological and behavioral hallmarks of Parkinson’s disease. If these results are supported in our upcoming clinical trials, we believe that GT-02287 could become a potential first-in-class disease-modifying therapy for Parkinson’s disease. Accordingly, we look forward to commencing the Phase 1 clinical program of GT-02287, expected in mid-2023.” Business Update and Recent Developments Strong cash position to advance the Company’s programs. As of September 30, 2022, the Company’s cash position was $25.7 million, compared to $36.8 million as of December 31, 2021, positioning Gain with what the Company believes is sufficient runway to reach value generating milestones. At this time, the Company anticipates that its existing cash, cash equivalents and marketable securities will enable it to fund its operating expenses and capital expenditure requirements into Q2 2024.Presented new preclinical data for GT-02287, Gain’s lead compound for Pa...