3Q 2022 | BUSINESS PRESENTATION Clinical Development of Disease-Modifying Therapeutics for Neurodegenerative Disease & Cancer Inhibikase.com : IKT DISCLAIMER This presentation shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of such 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. This pre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) ( State or other jurisdiction of incorp ...

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Q1 2022 Earnings Conference Call May 17, 2022 8:00 AM ET Company Participants Alex Lobo - Stern Investor Relations Milton Werner - Chief Executive Officer Joseph Frattaroli - Chief Financial Officer Conference Call Participants Operator Greetings, welcome to Inhibikase Therapeutics’ First Quarter 2022 Financial Results Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operato ...

PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements, including the balance sheets, statements of operations, stockholders' equity, and cash flows, along with detailed notes explaining the company's business, liquidity, accounting policies, and specific financial line items for the three months ended March 31, 2022, and 2021 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The condensed consolidated balance sheets show the company's financial position as of March 31, 2022, compared to December 31, 2021, indicating a decrease in total assets and stockholders' equity over the period | Metric | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Cash | $36,611,167 | $40,750,133 | | Total assets | $38,389,516 | $42,469,999 | | Total liabilities | $4,380,197 | $4,054,450 | | Total stockholders' equity | $34,009,319 | $38,415,549 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The condensed consolidated statements of operations highlight the company's financial performance for the three months ended March 31, 2022, and 2021, showing a significant increase in net loss and a sharp decline in grant revenue | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Grant revenue | $46,031 | $1,407,165 | | Research and development | $3,016,991 | $2,431,860 | | Selling, general and administrative | $1,669,636 | $1,600,576 | | Loss from operations | $(4,640,596) | $(2,625,271) | | Net loss | $(4,640,601) | $(2,637,068) | | Net loss per share – basic and diluted | $(0.18) | $(0.26) | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This statement outlines the changes in stockholders' equity for the three months ended March 31, 2022, and 2021, reflecting the impact of net loss, stock-based compensation, and common stock issuances | Metric | Balance at Dec 31, 2021 | Stock-based compensation expense | Issuance of common stock for services | Issuance of common stock, stock options exercised | Net loss | Balance at Mar 31, 2022 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Common Stock (Amount) | $25,155 | $— | $50 | $22 | $— | $25,227 | | Additional Paid-In Capital | $68,208,081 | $123,229 | $66,950 | $44,120 | $— | $68,442,380 | | Accumulated Deficit | $(29,817,687) | $— | $— | $— | $(4,640,601) | $(34,458,288) | | Total Stockholders' Equity | $38,415,549 | $123,229 | $67,000 | $44,142 | $(4,640,601) | $34,009,319 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The condensed consolidated statements of cash flows present the cash inflows and outflows from operating, investing, and financing activities for the three months ended March 31, 2022, and 2021, showing a net decrease in cash for both periods | Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(3,934,197) | $(3,934,220) | | Net cash used in financing activities | $(204,769) | $(409,662) | | Net decrease in cash | $(4,138,966) | $(4,343,882) | | Cash at end of period | $36,611,167 | $9,609,631 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and additional information regarding the company's financial statements, covering its business, liquidity, accounting policies, and specific financial line items [1. Nature of Business](index=7&type=section&id=1.%20Nature%20of%20Business) Inhibikase Therapeutics is a clinical-stage pharmaceutical company focused on developing therapeutics for Parkinson's Disease (PD) and related disorders, including Multiple System Atrophy (MSA) and an oncology asset. The lead candidate, IkT-148009, is in Phase 1b for PD and plans to initiate Phase 2 studies for PD and MSA in 2022, subject to regulatory agreements and successful animal model outcomes - Clinical-stage pharmaceutical company developing therapeutics for Parkinson's Disease (PD) and related disorders. Lead candidate IkT-148009 is a small molecule Abelson Tyrosine Kinase inhibitor[22](index=22&type=chunk)[26](index=26&type=chunk) - IkT-148009 Phase 1 study in healthy volunteers showed a half-life >24 hours and 25mg daily dose achieved therapeutic efficacy in animal models of progressive PD[22](index=22&type=chunk) - Phase 1b study in Parkinson's patients commenced October 2021, with one cohort completed. Phase 2 studies for PD anticipated in Q2 2022[22](index=22&type=chunk)[25](index=25&type=chunk) - Pursuing IkT-148009 for Multiple Systems Atrophy (MSA), with animal studies underway and Phase 2a clinical study planned for Q4 2022, contingent on positive animal model outcomes and regulatory approvals[22](index=22&type=chunk)[23](index=23&type=chunk)[25](index=25&type=chunk) - Oncology asset IkT-001Pro's IND filing and clinical development anticipated in Q2 2022[22](index=22&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk) [2. Liquidity](index=8&type=section&id=2.%20Liquidity) The Company has incurred recurring losses and had working capital of $34.0 million and cash of $36.6 million as of March 31, 2022. It estimates current working capital is sufficient to fund operations into Q3 2023 but will require additional funding for future success, subject to risks inherent in early-stage life science companies | Metric | Amount (March 31, 2022) | | :--- | :--- | | Working Capital | $34,009,319 | | Accumulated Deficit | $(34,458,288) | | Cash | $36,611,167 | | Accounts Payable & Accrued Expenses | $4,380,197 | | Active Grants (remaining available) | $314,228 | - Company estimates current working capital is sufficient to fund normal operations into the third quarter of 2023[32](index=32&type=chunk)[98](index=98&type=chunk) - Future success is dependent on obtaining additional working capital, regulatory approval, and successful commercialization of product candidates[29](index=29&type=chunk)[31](index=31&type=chunk)[94](index=94&type=chunk) [3. Basis of Presentation and Significant Accounting Policies](index=8&type=section&id=3.%20Basis%20of%20Presentation%20and%20Significant%20Accounting%20Policies) The unaudited condensed consolidated financial statements are prepared in conformity with US GAAP for interim reporting, including all normal adjustments. The company operates as an "emerging growth company" and has elected the extended transition period for new accounting standards. Revenue is primarily from non-exchange research and development grants, recognized as qualifying expenses are incurred - Financial statements prepared in conformity with US GAAP for interim periods, with certain disclosures condensed or omitted per SEC rules[34](index=34&type=chunk) - Company qualifies as an "emerging growth company" and has elected the extended transition period for new or revised accounting standards[37](index=37&type=chunk) - Over 90% of total revenue for the three months ended March 31, 2022 and 2021, was derived from federal research grants (United States Government)[39](index=39&type=chunk) - Grant revenue is recognized as qualifying expenses are incurred, not under ASC Topic 606[40](index=40&type=chunk) [4. Supplemental Balance Sheet Information](index=9&type=section&id=4.%20Supplemental%20Balance%20Sheet%20Information) This section details the composition of accrued expenses and other current liabilities, showing an increase from December 31, 2021, to March 31, 2022, primarily driven by accrued research and development costs | Category | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Accrued consulting | $254,047 | $210,000 | | Accrued compensation | $200,213 | $421,734 | | Accrued legal and professional fees | $237,293 | $— | | Accrued research and development | $2,864,711 | $2,077,932 | | Accrued interest | $— | $968 | | Accrued other | $17,737 | $5,127 | | **Total** | **$3,574,001** | **$2,715,761** | [5. Notes Payable](index=10&type=section&id=5.%20Notes%20Payable) The company had no notes payable outstanding as of March 31, 2022, down from $248,911 at December 31, 2021, due to the full settlement of the CEO Note in January 2022. The Paycheck Protection Program (PPP) loan was forgiven in 2021 | Date | Amount | | :--- | :--- | | March 31, 2022 | $0 | | December 31, 2021 | $248,911 | - The CEO Note, with a principal balance of **$248,911** at December 31, 2021, was settled in full in cash on January 3, 2022[48](index=48&type=chunk) - The Paycheck Protection Program (PPP) loan of **$27,550** was forgiven in 2021[49](index=49&type=chunk) [6. Stockholders' Equity](index=11&type=section&id=6.%20Stockholders'%20Equity) This section details common stock issuances during the period, including 21,853 shares from stock option exercises in January 2022 and 50,000 shares for consulting services in February 2022. As of March 31, 2022, 5,409,313 shares were reserved for stock options and warrants - As of March 31, 2022, **5,409,313 shares** of common stock were reserved for issuance upon the exercise of outstanding stock options and warrants[51](index=51&type=chunk) - In January 2022, **21,853 shares** of common stock were issued from the exercise of non-qualified stock options at **$2.02 per share**[53](index=53&type=chunk) - In February 2022, **50,000 shares** were issued for consulting services, valued at **$67,000**[54](index=54&type=chunk) [7. Stock-Based Compensation](index=11&type=section&id=7.%20Stock-Based%20Compensation) The company granted 209,887 stock options in Q1 2022 with a weighted average strike price of $1.08, vesting over three years. Total stock-based compensation expense decreased significantly to $123,229 for the three months ended March 31, 2022, from $591,124 in the prior year - Granted **209,887 options** in Q1 2022 with a weighted average strike price of **$1.08**, vesting annually over 3 years[56](index=56&type=chunk) | Category | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Research and development | $28,820 | $368,495 | | Selling, general and administrative | $94,409 | $222,629 | | **Total** | **$123,229** | **$591,124** | [8. Warrants](index=11&type=section&id=8.%20Warrants) The company recognized $237,768 in warrant expense for the three months ended March 31, 2021, with no such expense in the comparable 2022 period - Recognized **$237,768** in warrant expense for the three months ended March 31, 2021, included in selling, general and administration expense[59](index=59&type=chunk) [9. Net Loss Per Share](index=12&type=section&id=9.%20Net%20Loss%20Per%20Share) Basic and diluted net loss per share was $(0.18) for the three months ended March 31, 2022, an improvement from $(0.26) in the prior year, despite a higher net loss, due to a significant increase in weighted-average common shares outstanding | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net loss | $(4,640,601) | $(2,637,068) | | Weighted-average common shares | 25,205,454 | 10,053,949 | | Net loss per share (basic and diluted) | $(0.18) | $(0.26) | - **5,409,313 shares** (options and warrants) were excluded from diluted EPS calculation for Q1 2022 due to their anti-dilutive effect[60](index=60&type=chunk) [10. Income Taxes](index=12&type=section&id=10.%20Income%20Taxes) No provision for income taxes was recorded for the three months ended March 31, 2022, and 2021, as the company incurred losses. A full valuation allowance was recorded against deferred tax assets - No provision for income taxes due to incurred losses in both periods[61](index=61&type=chunk) - A full valuation allowance was recorded against deferred tax assets, indicating uncertainty of realization[61](index=61&type=chunk) [11. Commitments and Contingencies](index=12&type=section&id=11.%20Commitments%20and%20Contingencies) The company discusses the potential impact of the COVID-19 pandemic on its clinical trials and operations, noting industry-wide delays and risks to data integrity, though no material impact was experienced in Q1 2022. It also mentions involvement in various lawsuits in the ordinary course of business - COVID-19 pandemic has caused significant, industry-wide delays in clinical trials, potentially impacting enrollment, patient participation, and data integrity[62](index=62&type=chunk)[63](index=63&type=chunk) - No material impact on operations from COVID-19 during the three months ended March 31, 2022 and 2021, but future adverse financial impact is difficult to determine[64](index=64&type=chunk) - The company may become involved in various lawsuits and legal proceedings in the ordinary course of business[65](index=65&type=chunk) [12. Subsequent Events](index=13&type=section&id=12.%20Subsequent%20Events) On April 18, 2022, the company entered into a new operating lease agreement for office space in Lexington, Massachusetts, effective June 1, 2022, through July 31, 2025, with escalating payments - Entered into a new operating lease for office space in Lexington, MA, on April 18, 2022, for June 1, 2022 - July 31, 2025[67](index=67&type=chunk) - The company will adopt ASU No. 2018-10, Leases (Topic 842) in the quarter ending June 30, 2022[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial condition and results of operations for the three months ended March 31, 2022, discussing business overview, key financial components, liquidity, and critical accounting policies. It also includes forward-looking statements and the potential impact of geopolitical events [Overview](index=14&type=section&id=Overview) Inhibikase Therapeutics is a clinical-stage pharmaceutical company developing treatments for Parkinson's Disease (PD) and related disorders, including Multiple System Atrophy (MSA) and an oncology asset. The lead candidate, IkT-148009, is progressing through clinical trials for PD and MSA, with Phase 2 studies anticipated in 2022, contingent on regulatory and animal model outcomes - Clinical-stage pharmaceutical company focused on Parkinson's Disease (PD) and related disorders, including Multiple Systems Atrophy (MSA) and an oncology asset (IkT-001Pro)[71](index=71&type=chunk) - Lead candidate IkT-148009 is a c-Abl inhibitor, showing disease-modifying potential in animal models for PD by halting progression and reversing functional loss[71](index=71&type=chunk)[76](index=76&type=chunk) - Phase 1b study for IkT-148009 in Parkinson's patients commenced in October 2021, with Phase 2 studies anticipated in Q2 2022[71](index=71&type=chunk)[75](index=75&type=chunk) - Planning Phase 2a clinical study for IkT-148009 in MSA in Q4 2022, subject to successful animal model outcomes and regulatory approvals[71](index=71&type=chunk)[72](index=72&type=chunk)[75](index=75&type=chunk) - IND filing for oncology asset IkT-001Pro and initiation of clinical development anticipated in Q2 2022[71](index=71&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk) [Impact of the ongoing military conflict between Russia and Ukraine](index=15&type=section&id=Impact%20of%20the%20ongoing%20military%20conflict%20between%20Russia%20and%20Ukraine) The ongoing military conflict between Russia and Ukraine has led to significant geopolitical tensions, financial market volatility, and economic sanctions. While the extent and duration are unpredictable, these events could adversely affect the company's business, financial condition, and ability to obtain additional funds - Russia-Ukraine conflict has caused financial market volatility, capital markets disruption, and broad economic sanctions[77](index=77&type=chunk)[78](index=78&type=chunk) - The conflict's impact could make it more difficult for the company to obtain additional funds and increase stock price volatility[78](index=78&type=chunk) - The extent and duration of the military action and sanctions are unpredictable but could be substantial[77](index=77&type=chunk) [Components of Operating Results](index=16&type=section&id=Components%20of%20Operating%20Results) Operating expenses are primarily driven by research and development (R&D) activities, which are expected to increase as product candidates advance. Selling, general, and administrative (SG&A) expenses are also increasing due to public company compliance and administrative headcount growth [Research and Development](index=16&type=section&id=Research%20and%20Development) R&D expenses are a significant portion of operating costs, recorded as incurred, and include external expenses for clinical/preclinical studies, manufacturing, and personnel. These costs are expected to increase as the company advances its programs and seeks regulatory approvals, with later-stage trials incurring higher costs - R&D expenses are a significant portion of operating expenses, recorded as incurred, and include external costs for CROs, CMOs, and personnel[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk) - R&D expenses are expected to increase in the coming years as the company advances programs, expands efforts, and seeks regulatory approvals[84](index=84&type=chunk) - The nature, timing, and costs of completing product candidate development and obtaining regulatory approval are uncertain[82](index=82&type=chunk) [Selling, General and Administrative](index=17&type=section&id=Selling,%20General%20and%20Administrative) SG&A expenses include personnel costs, professional services (legal, accounting, investor relations), and allocated office expenses. These costs are increasing due to public company compliance requirements and growth in administrative headcount - SG&A expenses include personnel, professional services (legal, accounting, investor relations), and allocated office rent[85](index=85&type=chunk) - Additional expenses are being incurred due to public company compliance (SEC, Nasdaq) and increased administrative headcount[86](index=86&type=chunk) [Results of Operations](index=17&type=section&id=Results%20of%20Operations) For the three months ended March 31, 2022, the company experienced a significant increase in net loss, primarily driven by a sharp decrease in grant revenue and increased research and development expenses, partially offset by a decrease in interest expense [Grant Revenue](index=17&type=section&id=Grant%20Revenue) Grant revenue decreased by 97% to $46,031 for the three months ended March 31, 2022, from $1,407,165 in the prior year, as the company shifted focus to its Phase I clinical trial | Period | Amount | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | | Q1 2022 | $46,031 | $(1,361,134) | (96.7)% | | Q1 2021 | $1,407,165 | | | - Decrease in grant revenue is due to a shift in focus towards advancing the Phase I clinical trial[88](index=88&type=chunk) [Research and Development](index=18&type=section&id=Research%20and%20Development) R&D expenses increased by 24% to $3,016,991 for the three months ended March 31, 2022, primarily due to a $2.1 million increase in non-grant related research for the Phase I PD clinical trial, partially offset by decreases in grant-related research and non-cash stock compensation | Period | Amount | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | | Q1 2022 | $3,016,991 | $585,131 | 24.1% | | Q1 2021 | $2,431,860 | | | - Increase driven by **$2.1 million** in non-grant related research for the Phase I PD clinical trial[89](index=89&type=chunk) [Selling, General and Administrative](index=18&type=section&id=Selling,%20General%20and%20Administrative) SG&A expenses increased by 4% to $1,669,636 for the three months ended March 31, 2022, mainly due to increased compensation, legal, board, investor relations, and consulting fees, partially offset by decreased non-cash stock-based compensation | Period | Amount | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | | Q1 2022 | $1,669,636 | $69,060 | 4.3% | | Q1 2021 | $1,600,576 | | | - Increase primarily from increased headcount compensation (**$0.2M**), legal/board/IR/consulting fees (**$0.1M**), and other operating expenses (**$0.17M**), offset by decreased non-cash stock-based compensation (**$0.37M**)[90](index=90&type=chunk) [Interest Expense](index=18&type=section&id=Interest%20Expense) Interest expense decreased by 100% to $5 for the three months ended March 31, 2022, from $11,797 in the prior year, due to the full settlement of the CEO Note in January 2022 | Period | Amount | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | | Q1 2022 | $5 | $11,792 | (100.0)% | | Q1 2021 | $11,797 | | | - Decrease driven by the full settlement of the CEO Note on January 3, 2022[91](index=91&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) The company has historically funded operations through grants and public offerings, holding $36.6 million in cash and $34.0 million in working capital as of March 31, 2022, sufficient to fund operations into Q3 2023. Significant future funding will be required to support ongoing R&D and potential commercialization, which may involve equity, debt, or collaboration agreements [Sources of Liquidity](index=18&type=section&id=Sources%20of%20Liquidity) The company's primary sources of liquidity have been private, state, and federal grants ($23.5 million since inception) and proceeds from public offerings in December 2020 ($14.6 million) and June 2021 ($41.1 million). As of March 31, 2022, it held $36.6 million in cash and $34.0 million in working capital - Raised approximately **$41.1 million** from June 2021 public offering and **$14.6 million** from December 2020 IPO[92](index=92&type=chunk) | Metric | Amount (March 31, 2022) | | :--- | :--- | | Working Capital | $34,009,319 | | Cash | $36,611,167 | [Future Funding Requirements](index=18&type=section&id=Future%20Funding%20Requirements) The company expects to incur significant losses and require substantial additional funding beyond Q3 2023 to continue product development and seek regulatory approvals. Future funding may come from equity, debt, or collaboration agreements, with risks of dilution or unfavorable terms. Operating expenditures depend on clinical trial progress, regulatory approvals, and intellectual property costs - Expects to incur significant losses and require substantial additional funding beyond Q3 2023[94](index=94&type=chunk)[98](index=98&type=chunk) - Future funding may be sought through public/private equity, debt financings, or collaboration agreements[95](index=95&type=chunk)[97](index=97&type=chunk) - Failure to raise capital could negatively impact business, operations, and product candidate development[95](index=95&type=chunk)[97](index=97&type=chunk) - Operating expenditures are highly dependent on the timing and progress of preclinical/clinical development, regulatory approvals, and intellectual property costs[100](index=100&type=chunk) [Cash Flows](index=20&type=section&id=Cash%20Flows) The company experienced a net decrease in cash of $4.1 million for the three months ended March 31, 2022, primarily due to cash used in operating activities ($3.9 million) and financing activities ($0.2 million) [Net Cash Flows Used in Operating Activities](index=20&type=section&id=Net%20Cash%20Flows%20Used%20in%20Operating%20Activities) Net cash used in operating activities was $3.93 million for both Q1 2022 and Q1 2021. In Q1 2022, this was primarily driven by a net loss of $4.64 million, adjusted for non-cash items and changes in working capital | Period | Amount | | :--- | :--- | | Q1 2022 | $(3,934,197) | | Q1 2021 | $(3,934,220) | - Q1 2022 operating cash outflow primarily due to net loss (**$4.64 million**), partially offset by non-cash adjustments and changes in working capital[102](index=102&type=chunk) [Cash Provided by Financing Activities](index=20&type=section&id=Cash%20Provided%20by%20Financing%20Activities) Net cash used in financing activities was $204,769 for Q1 2022, mainly from the full settlement of the CEO Note, partially offset by proceeds from stock option exercises. This compares to $409,662 used in Q1 2021 for note payable repayments | Period | Amount | | :--- | :--- | | Q1 2022 | $(204,769) | | Q1 2021 | $(409,662) | - Q1 2022 financing cash outflow primarily from full settlement of CEO Note, offset by stock option exercise proceeds[104](index=104&type=chunk) [Off-Balance Sheet Arrangements](index=20&type=section&id=Off-Balance%20Sheet%20Arrangements) The company has not entered into any off-balance sheet arrangements - No off-balance sheet arrangements have been entered into[105](index=105&type=chunk) [Contractual Obligations and Commitments](index=20&type=section&id=Contractual%20Obligations%20and%20Commitments) The company entered into a new operating lease for office space in Lexington, Massachusetts, on April 18, 2022, with total lease obligations of $447,090 through July 2025, replacing a previous Boston lease - New operating lease for office space in Lexington, MA, from June 1, 2022, to July 31, 2025[106](index=106&type=chunk) | Fiscal Year | Amount | | :--- | :--- | | 2022 | $60,322 | | 2023 | $146,546 | | 2024 | $150,804 | | 2025 | $89,418 | | **Total** | **$447,090** | [Critical Accounting Policies and Significant Judgments and Estimates](index=20&type=section&id=Critical%20Accounting%20Policies%20and%20Significant%20Judgments%20and%20Estimates) This section highlights accounting policies critical to understanding the company's financial performance, particularly those requiring significant management judgment and estimates, such as research and development expenses [Research and Development Expenses](index=21&type=section&id=Research%20and%20Development%20Expenses) R&D expenses are recorded as incurred and include employee-related costs, external service provider fees (CROs, CMOs), and technology acquisition costs. The company makes significant judgments and estimates in accruing these expenses, especially for third-party services, and adjustments may occur as actual costs become known - R&D expenses are recorded as incurred and include employee costs, external service provider fees (CROs, clinical testing, CMOs), and technology acquisition costs[109](index=109&type=chunk) - Significant judgments and estimates are made in determining accrued R&D balances, particularly for third-party services[110](index=110&type=chunk)[111](index=111&type=chunk) - Estimates are based on historical experience and other relevant assumptions, but actual results may differ[108](index=108&type=chunk)[111](index=111&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=22&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Inhibikase Therapeutics is not required to provide quantitative and qualitative disclosures about market risk - Not required to provide market risk disclosures as a smaller reporting company[113](index=113&type=chunk) [Item 4. Controls and Procedures](index=22&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the effectiveness of disclosure controls and procedures as of March 31, 2022, and concluded they were effective at a reasonable assurance level. There were no material changes in internal control over financial reporting during the quarter [Evaluation of Disclosure Controls and Procedures](index=22&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) The CEO and CFO concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of March 31, 2022 - Disclosure controls and procedures were evaluated and deemed effective at a reasonable assurance level as of March 31, 2022[114](index=114&type=chunk) [Changes in Internal Control over Financial Reporting](index=22&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) There were no material changes in internal control over financial reporting during the three months ended March 31, 2022 - No material changes in internal control over financial reporting during Q1 2022[115](index=115&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=23&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings - No legal proceedings to report[118](index=118&type=chunk) [Item 1A. Risk Factors](index=23&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, the company is not required to provide a discussion of risk factors - Not applicable as the company is a smaller reporting company[119](index=119&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=23&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 2022, the company issued 21,853 common shares from stock option exercises and 50,000 common shares for consulting services, both exempt from registration under Section 4(a)(2) of the Securities Act - Issued **21,853 common shares** in January 2022 from stock option exercises[120](index=120&type=chunk) - Issued **50,000 common shares** in February 2022 for consulting services, valued at **$67,000**[121](index=121&type=chunk) - Both issuances were exempt from registration under Section 4(a)(2) of the Securities Act[120](index=120&type=chunk)[121](index=121&type=chunk) [Item 3. Defaults Upon Senior Securities](index=23&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - No defaults upon senior securities[122](index=122&type=chunk) [Item 4. Mine Safety Disclosures](index=23&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[123](index=123&type=chunk) [Item 5. Other Information](index=23&type=section&id=Item%205.%20Other%20Information) The company reported no other information - No other information to report[124](index=124&type=chunk) [Item 6. Exhibits](index=24&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the Form 10-Q, including organizational documents, employment agreement amendments, stock option grant notices, and certifications - Includes Amended and Restated Certificate of Incorporation and Bylaws, employment agreement amendments, and certifications (31.1*, 31.2*, 32.1**, 32.2**)[126](index=126&type=chunk) - Exhibits 32.1 and 32.2 are furnished, not filed, and not subject to Section 18 liability of the Exchange Act[127](index=127&type=chunk) [Signatures](index=25&type=section&id=Signatures) The report is signed by Milton H. Werner, Ph.D., Chief Executive Officer, and Joseph Frattaroli, Chief Financial Officer, on May 16, 2022 - Report signed by CEO Milton H. Werner, Ph.D., and CFO Joseph Frattaroli on May 16, 2022[129](index=129&type=chunk)

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Q4 2021 Results Conference Call April 1, 2022 8:00 AM ET Company Participants Alexander Lobo - Stern Investor Relations Dr. Milton Werner - Chief Executive Officer Joseph Frattaroli - Chief Financial Officer Operator Greetings, welcome to Inhibikase Therapeutics’ Fourth Quarter Full Year 2021 Financial Results. At this time, all participants are in listen only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact name of Registrant as specified in its Charter) Delaware 26-3407249 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) ( State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 26-3407249 ( State or other ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 26-3407249 ( State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39676 INHIBIKASE THERAPEUTICS, INC. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorpora ...