Digital Asset Strategy - In October 2025, the company announced a $58.88 million private placement to initiate a digital asset treasury strategy focused on accumulating Zcash (ZEC) [25]. - The company’s digital asset treasury strategy is designed to capitalize on the growing structural demand for financial privacy in the digital economy [55]. - The company has shifted a significant portion of its business strategy towards a digital asset treasury strategy, focusing on investments in ZEC, with no assurance of successful execution or profitability [164]. - The company relies on Gemini Space Sciences LLC for trading execution and custody of ZEC, leading to concentrated risk with a single custodian [171]. - The digital asset treasury strategy subjects the company to enhanced regulatory oversight, with potential classification of ZEC as a "security" impacting operational compliance [161]. - The company has a history of losses and no source of product revenue, necessitating additional capital to fund operations, which may not be available on acceptable terms [161]. - Any decrease in the market value of ZEC holdings could adversely affect the company's ability to meet financial obligations, including debt [161]. - The company faces significant risks related to the custody of ZEC, including potential bankruptcy of custodians like Gemini, which could treat the company as a general unsecured creditor, adversely affecting ownership rights [176]. - Recent high-profile bankruptcies and regulatory actions in the digital asset industry have negatively impacted the adoption rate and use of digital assets, potentially limiting financing options and increasing counterparty risks [176]. - The company expects to hold substantially all of its ZEC in accounts at Gemini, raising concerns about security breaches and cyberattacks that could lead to loss of assets [184]. - The concentration of ZEC holdings enhances risks inherent in the digital asset treasury strategy, as significant declines in ZEC's price would have a pronounced impact on the company's financial condition [207]. - The liquidity of ZEC is less than cash and cash equivalents, and during market instability, the company may not be able to sell ZEC at favorable prices [206]. - The company’s ability to raise capital for its digital asset treasury strategy may be compromised by market conditions and regulatory uncertainties, potentially harming growth prospects [210]. - The market price of the company's common stock may trade at a substantial premium or discount to the value of ZEC held, leading to increased volatility [213]. - The company faces enhanced regulatory oversight due to its ZEC treasury strategy, which may subject it to additional compliance requirements [214]. - The risks associated with ZEC could lead to restrictions on transactions or dealings if the company is found to have acquired ZEC from bad actors [215]. Regulatory Environment - The U.S. Congress is considering the Digital Asset Market Clarity Act of 2025, which may impact digital asset regulations [58]. - By July 1, 2027, the European Union will prohibit transactions involving anonymous wallets and privacy-focused digital assets like ZEC, potentially affecting Zcash's acceptance and value [59]. - Future regulations, such as the Digital Asset Market Clarity Act of 2025, could impose additional regulatory obligations on the company, affecting its operations and financial strategy [200]. - The company may face significant regulatory scrutiny and legal exposure due to potential violations of sanctions laws, which could harm its reputation and financial standing [181]. - ZEC and other digital assets are subject to significant legal, commercial, tax, technical, and regulatory uncertainty, which could adversely affect the financial position and operations of the company [196]. - The legal framework governing digital asset ownership remains uncertain, which could result in unexpected losses and protracted recovery processes during insolvency proceedings [176]. - The SEC has not publicly stated its view on ZEC's classification, leaving uncertainty regarding regulatory implications [222]. - The potential reclassification of ZEC could lead to changes in how the company conducts its business [222]. Competition and Market Position - The company competes with various entities in the privacy technology and digital asset sectors, including traditional financial firms and venture capital strategies focused on privacy technologies [57]. - The company faces significant competition from major pharmaceutical firms and biotechnology companies, impacting its market position and product development timelines [105][106]. - The company must navigate regulatory compliance and potential legal actions related to manufacturing, which could affect product availability [108]. Research and Development - Leap Therapeutics is developing sirexatamab (DKN-01), a monoclonal antibody targeting DKK1, with a Phase 2 study recently completed for colorectal cancer [60]. - Colorectal cancer is projected to have over 2.3 million new cases globally by 2030, with nearly 1.1 million deaths, highlighting a significant market opportunity [62]. - In the DeFianCe study, the experimental arm using sirexatamab showed an overall response rate (ORR) of 44.0% compared to 15.8% in the control arm, with a median progression-free survival (PFS) of 9.36 months versus 5.88 months [73]. - Sirexatamab demonstrated a disease control rate (DCR) of 93% in patients who had never received prior bevacizumab, with a median duration of response (DoR) of 9.92 months [72]. - FL-501, a monoclonal antibody in preclinical development, targets GDF15 and has shown potential to increase body weight and restore muscle mass in cachexia models [78]. - The company holds rights under 26 issued patents and 1 pending patent application related to sirexatamab, with a base term expiring in 2030 [83]. - The FDA granted orphan drug designation to sirexatamab for gastric and gastroesophageal junction cancer, and Fast Track designation for its combination therapy [67]. - Sirexatamab has shown additive activity with 5-fluorouracil (5-FU) chemotherapy, indicating potential for overcoming resistance in colorectal cancer treatment [70]. - The company owns two issued U.S. patents and additional patents in Australia, Japan, Korea, Mexico, and Israel, with expiration dates set for 2037, pending timely maintenance fee payments [84]. - Two additional patent families are directed towards cancer treatment using DKN-01, with applications pending in multiple jurisdictions including the U.S., China, and Europe, set to expire in 2040 [85][86]. - A patent family for colorectal cancer treatment using combination therapy is pending in various jurisdictions, with U.S. patents expected to expire no earlier than 2043 [87]. - An international patent application under the PCT for colorectal cancer treatment is pending, with potential U.S. patents expiring no earlier than 2045 [88]. - A pending U.S. Provisional application for FL-501, a monoclonal antibody, could lead to patents expiring no earlier than 2046 if non-Provisional applications are filed in 2026 [89]. - The company has a license agreement with Lilly, granting exclusive rights for certain compounds, with royalty payments in the low single digits based on net sales [92][93]. - The Adimab collaboration agreement allows the company to develop monoclonal antibodies, with milestone payments and royalties in the low single digits upon commercialization [99]. - The company relies on third-party contract manufacturers for clinical trial material, ensuring compliance with FDA's cGMP regulations [107][108]. Financial Performance - Total research and development expenses were $25.7 million and $57.2 million for the years ended December 31, 2025 and 2024, respectively [153]. - As of December 31, 2025, the company had 6 full-time employees, with no labor union representation [154]. - The company is subject to ongoing FDA regulations, including requirements for manufacturing, recordkeeping, and adverse experience reporting [146]. - The FDA may impose conditions on product approvals that can materially affect market potential and profitability [135]. - The Biologics Price Competition and Innovation Act grants 12 years of exclusivity for reference biologics from the time of first licensure [138]. - The Orphan Drug Act provides financial incentives for developing products for rare diseases affecting less than 200,000 individuals annually in the U.S. [139]. - The FDA has expedited review programs, such as Fast Track and priority review, to accelerate the approval process for serious conditions [140][142]. - Changes to approved products require prior FDA review and approval, including new indications and labeling claims [147]. - Manufacturers must comply with stringent cGMP regulations to maintain product approvals and avoid regulatory actions [148]. - The Drug Quality and Security Act imposes tracking and tracing obligations on manufacturers to ensure product safety and integrity [149]. - The FDA approval process for product candidates typically takes many years and requires substantial time and financial resources [111]. - An Investigational New Drug application (IND) must be submitted to the FDA before human clinical trials can begin, which becomes effective 30 days after receipt unless safety concerns arise [113]. - Clinical trials are conducted in three phases, with Phase 3 trials generally requiring two adequate and well-controlled studies for FDA approval [126]. - The FDA has set a goal to complete its review of 90% of all applications within ten months from the 60-day filing date for initial BLAs [130]. - The approval process for a Biologics License Application (BLA) is lengthy, and the FDA may refuse approval if regulatory criteria are not satisfied [133]. - The company may consider building or acquiring its own sales and marketing team if products receive FDA approval and it aligns with long-term interests [109]. - The FDA may require a risk evaluation and mitigation strategy (REMS) to ensure that the benefits of a biologic outweigh the risks [128]. - The company must comply with extensive government regulations regarding the research, development, and marketing of biopharmaceutical products [110]. - The manufacturing process for investigational biologics must comply with current Good Manufacturing Practices (cGMP) to ensure product quality and safety [118].

Cypherpunk Reports Full Year 2025 Financial Results Exhibit 99.1 "2025 was a transformational year. Following a $58.88 million private placement led by Winklevoss Capital, we rebranded as Cypherpunk to become a privacy technology company with a digital asset treasury strategy focused on Zcash, while advancing sirexatamab for the treatment of patients with colorectal cancer through our Leap Therapeutics subsidiary," said Douglas E. Onsi, President and CEO of Cypherpunk. "Since we began operating as Cypherpun ...

Core Insights - Leap Therapeutics (LPTX) shares surged by 368% on November 12 following the announcement of a crypto treasury strategy focused on ZCash (ZECUSD) [1] - The company secured nearly $59 million in private placement funding, with $50 million immediately allocated to acquire 203,775 ZEC tokens [1] - Leap Therapeutics will officially rebrand as Cypherpunk Technologies on November 13 and will trade under the new ticker symbol CYPH [2] Company Strategy - The announcement positions Leap Therapeutics as a digital asset treasury company, aiming to capitalize on the momentum of ZCash, which has increased over 1,400% in 2025 [3] - ZCash is recognized among crypto enthusiasts as "encrypted Bitcoin," and its price is expected to rise due to its safety features in a digital economy [3] - The ZCash treasury strategy is anticipated to attract crypto-focused investors, potentially driving share prices higher in 2026 [4] Market Context - The transformation into a digital asset treasury company aligns with the growing interest in cryptocurrencies, particularly privacy-focused assets like ZCash [3][4] - The increasing demand for ZCash may enhance its market position, especially as it is viewed as a scarce commodity [3] Regulatory Environment - Privacy-focused cryptocurrencies, including ZCash, face significant regulatory challenges, such as the European Union's planned 2027 ban on privacy coins [5] - Major exchanges have begun delisting privacy assets to comply with regulations, which could impact the liquidity and distribution of ZCash [6]

Group 1: Leap Therapeutics, Inc. (LPTX) - Leap Therapeutics, Inc. experienced a significant stock price surge of approximately 441.49%, closing at $2.36 [1][2] - The company traded an unusually high volume of 610,713,569 shares, indicating strong news flow or shifting expectations around its pipelines and partnerships [2] - The rise in stock price is often associated with developments such as trial readouts, regulatory milestones, or strategic collaborations that can reshape investor outlook [2] Group 2: Quhuo Limited (QH) - Quhuo Limited's stock price increased by 68.01% to $1.39, with a trading volume of 31,416,317 shares [1][3] - The rally may reflect renewed confidence in the company's growth prospects, particularly following a collaboration with the "Better Life No.1 Collective Fund Trust Plan" [3] - The company's wide 52-week price range, from $0.735 to $169.11, highlights the potential for price volatility driven by sentiment shifts in smaller-cap stocks [3] Group 3: Creative Media & Community Trust Corporation (CMCT) - Creative Media & Community Trust Corporation's stock climbed 61.48% to $8.09, with 46,202,384 shares traded [1][4] - Investor enthusiasm is attributed to the company's definitive agreement to sell its lending division, indicating a focus on core real estate operations and potential balance-sheet flexibility [4] Group 4: Spruce Power Holding Corporation (SPRU) - Spruce Power Holding Corporation's stock rose 45.98% to $4.45, supported by a trading volume of 6,006,670 shares [1][5] - The company reported third-quarter 2025 revenue of $30.7 million, a 44% year-over-year increase, and a cash balance of $98.8 million, reflecting improving scale and liquidity [5] Group 5: Market Trends - The sharp advances across biotechnology, real estate, and clean energy sectors highlight the convergence of sector-specific catalysts, capital strategy decisions, and improving fundamentals [6] - Market participants are expected to monitor for follow-through events such as additional clinical data, deal closings, or sustained cash-flow trends to assess the durability of these gains [6]

Core Insights - Leap Therapeutics has transitioned into a crypto treasury firm named Cypherpunk Technologies Inc., focusing on accumulating Zcash's native coin, ZEC [4] - The stock of Leap Therapeutics experienced significant volatility, surging over 550% to an intraday high of $2.48 before trading was halted multiple times [1] - The company secured $58.88 million in a private placement led by Winklevoss Capital, which is associated with the Winklevoss twins, known for their involvement in cryptocurrency [2] Financial Developments - Leap Therapeutics utilized $50 million from the private placement to purchase 203,775.27 ZEC at an average price of $245.37 per coin [5] - Following the investment, the stock resumed trading at $1.85 after the initial volatility [6] Market Context - The involvement of Winklevoss Capital highlights the increasing interest from traditional finance (TradFi) in the cryptocurrency sector [2][4] - The stock's volatility and subsequent trading halts indicate a highly speculative environment surrounding Leap Therapeutics' transformation [1][5]

Core Insights - Leap Therapeutics is rebranding to Cypherpunk Technologies Inc., transitioning from a biotech firm to a crypto treasury firm focused on accumulating Zcash's native coin, ZEC [1] - The company has utilized $50 million from a private placement to acquire 203,775.27 ZEC at an average price of $245.37 per coin [2] - Cypherpunk secured $58.88 million in a private placement led by Winklevoss Capital, resulting in a significant stock price increase of over 100% to $87.55 [4] Company Strategy - Cypherpunk aims to accumulate Zcash, targeting ownership of at least 5% of the total ZEC supply, as stated by CEO Tyler Winklevoss [6] - The company is positioning itself to support privacy-protecting assets and technologies, emphasizing its dedication to privacy and self-sovereignty [6] Market Positioning - Zcash is described as a privacy-focused cryptocurrency, utilizing zero-knowledge proofs (zk-SNARKs) to enhance transaction privacy [5] - Tyler Winklevoss compares Zcash to Bitcoin, suggesting that while Bitcoin serves as digital gold, Zcash functions as encrypted digital cash [7] - The company believes that Zcash could capture a meaningful percentage of Bitcoin's market capitalization as the world enters the AI age [7] Future Outlook - Predictions indicate that Bitcoin could reach a price of $1 million within the next 5-10 years, with Zcash also expected to grow [8]

Market Overview - U.S. stocks showed mixed performance with the Dow increasing by 0.66% to 48,244.96, while the Nasdaq Composite fell by 0.65% to 23,315.77 and the S&P 500 dropped by 0.13% to 6,837.50 [1] - Health care shares rose by 1.1%, while communication services stocks decreased by 1.7% [1] Company Performance - On Holding (NYSE:ONON) shares surged over 18% after reporting third-quarter earnings of 54 cents per share, significantly exceeding the analyst consensus estimate of 20 cents per share. The company also reported quarterly sales of $993.036 million, surpassing the consensus estimate of $939.020 million [2] - Leap Therapeutics, Inc. (NASDAQ:LPTX) saw its shares increase by 145% to $1.0708 following better-than-expected third-quarter EPS results [9] - Creative Media & Community Trust Corporation (NASDAQ:CMCT) shares rose 68% to $8.05 after announcing an agreement to sell its lending division [9] - Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX) shares gained 24% to $1.2200 after pricing a $7 million underwritten public offering [9] - VisionSys AI Inc. (NASDAQ:VSA) shares plummeted 77% to $0.2960 after announcing a $12 million registered direct offering [9] - Leifras Co., Ltd. (NASDAQ:LFS) shares fell 35% to $7.35 after a significant surge of 576.79% to close at $11.37 in regular trading on Tuesday [9] - Energy Vault Holdings, Inc. (NYSE:NRGV) shares decreased by 23% to $3.29, with Goldman Sachs analyst maintaining a Sell rating and raising the price target from $1.5 to $2 [9] Commodity Market - Oil prices dropped by 4.1% to $58.51, while gold prices increased by 2% to $4,199.90. Silver rose by 4.7% to $53.11, and copper saw a 1.1% increase to $5.1220 [5] International Markets - European shares experienced gains, with the eurozone's STOXX 600 rising by 0.71%, Spain's IBEX 35 Index gaining 1.39%, London's FTSE 100 increasing by 0.12%, Germany's DAX 40 climbing by 1.22%, and France's CAC 40 rising by 1.04% [6] - Asian markets closed mostly higher, with Japan's Nikkei 225 gaining 0.43%, Hong Kong's Hang Seng surging 0.85%, China's Shanghai Composite declining by 0.07%, and India's BSE Sensex rising by 0.71% [7] Economic Indicators - The volume of mortgage applications increased by 0.6% from the previous week during the first week of November [10]

Financial Performance - The company reported a net loss of $3,303,000 for the three months ended September 30, 2025, compared to a net loss of $18,176,000 for the same period in 2024, indicating a reduction in losses of about 81.8%[20] - The net loss attributable to common stockholders for the nine months ended September 30, 2025, was $35,381,000, compared to $52,358,000 for the same period in 2024, indicating a reduction of about 32.4%[20] - For the nine months ended September 30, 2025, the company reported a net loss of $35,381, an improvement from a net loss of $52,124 in the same period of 2024, representing a decrease of approximately 32.2%[30] - The loss before income taxes for the three months ended September 30, 2025, was $(3,101) thousand, an improvement of $14,367 thousand compared to $(17,468) thousand in 2024[155] Assets and Equity - As of September 30, 2025, total assets decreased to $11,399,000 from $49,124,000 as of December 31, 2024, representing a decline of approximately 77.8%[17] - The company’s cash and cash equivalents decreased to $9,686,000 as of September 30, 2025, from $47,249,000 as of December 31, 2024, a decline of approximately 79.5%[17] - The total stockholders' equity fell to $2,695,000 as of September 30, 2025, down from $35,048,000 as of December 31, 2024, representing a decrease of about 92.3%[17] - As of September 30, 2025, the company had cash equivalents of $4,213,000, down from $23,299,000 as of December 31, 2024[58] Expenses - Research and development expenses for the three months ended September 30, 2025, were $1,247,000, a significant decrease from $14,915,000 in the same period of 2024, reflecting a reduction of approximately 91.6%[20] - Total operating expenses for the nine months ended September 30, 2025, were $35,964,000, down from $53,932,000 in the same period of 2024, marking a decrease of about 33.3%[20] - General and administrative expenses were $1.9 million for the three months ended September 30, 2025, down from $2.9 million in the same period in 2024[159] - Research and development expenses decreased to $24.7 million for the nine months ended September 30, 2025, from $44.1 million in 2024, a reduction of $19.4 million[166] Funding and Capital Structure - The company completed a private placement on October 8, 2025, raising approximately $58,888 in gross proceeds, which will support its operations and new digital asset strategy[36] - The company plans to seek additional funding through public or private equity financings or collaboration agreements to support its future operations and digital asset strategy[42] - The company plans to increase its authorized shares from 250 million to 500 million, with 490 million designated as Common Stock[120] Digital Asset Strategy - The company renamed itself from "Leap Therapeutics, Inc." to "Cypherpunk Technologies Inc." to reflect its strategic focus on digital assets[125] - The company purchased 203,775 ZEC tokens at a weighted average cost of $245.37 per token, totaling $50,000, as part of its digital asset strategy[119] - The company has not generated any revenue from product sales and has historically funded operations through stock sales and notes payable[129] Risks and Challenges - The shift towards a digital asset treasury strategy may expose the company to significant operational risks and requires substantial changes in day-to-day operations[186] - The company faces risks associated with potential bankruptcy or insolvency of custodians holding ZEC, which could inhibit ownership rights[199] - The pseudonymous nature of blockchain transactions may inadvertently lead to transactions with prohibited persons under U.S. sanctions laws, resulting in compliance risks[201] - The frequency and sophistication of cyberattacks on digital asset systems are increasing, posing significant risks to the company's operations and reputation[208] Research and Development - The company’s clinical stage program includes sirexatamab (DKN-01), a monoclonal antibody targeting DKK1, with ongoing research and development efforts[34] - The company is engaging with regulatory authorities regarding the registrational pathway for sirexatamab in CRC and optimizing the DKK1 biomarker diagnostic test[140] - Research and development expenses included a decrease of $5.3 million in clinical trial costs due to the shutdown of clinical trials[158] Shareholder Information - The weighted average common shares outstanding increased to 41,444,979 for the three months ended September 30, 2025, compared to 41,209,639 for the same period in 2024[20] - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 41,444,979, resulting in a net loss per share of $(0.08)[99] - As of September 30, 2025, there were 5,653,387 shares available for grant under the company's equity incentive plans[92]

Corporate Governance - Leap Therapeutics, Cypherpunk Technologies Inc. has established its registered office as per its certificate of incorporation[12] - The Board has the authority to designate the date and time for the annual meeting where directors will be elected[16] - Special meetings of stockholders can be called by the Board or designated officers, but only specified business may be transacted[17] - Stockholders must provide timely notice for business to be properly brought before an annual meeting, with a notice period of 90 to 120 days prior to the meeting[21] - The Corporation's board may establish additional offices as needed for business operations[13] - Meetings of stockholders can be held remotely as authorized by Delaware law[15] - The bylaws specify that only business specified in the notice may be conducted at special meetings[18] - The Board has the power to remove directors as outlined in the bylaws[16] - The Corporation maintains records and reports as required by its bylaws[21] - The bylaws include provisions for indemnification and advancement of expenses for directors and officers[9] Stockholder Proposals - The stockholder's notice must include the name, address, and share ownership details of the Proposing Person, including any rights to acquire shares in the future[23] - Proposing Persons must provide a brief description of the business to be brought before the annual meeting, including any material interests in such business[25] - Stockholders must represent their intention to appear at the meeting to propose business and whether they intend to solicit proxies from other stockholders[25] - The term "Proposing Person" includes the stockholder, beneficial owners, and any affiliates or associates acting in concert[26] - A stockholder must update their notice to ensure accuracy as of the record date and ten business days prior to the meeting[29] - No business shall be conducted at an annual meeting unless it complies with the specified notice requirements[30] - Timely notice for nominations must be provided in writing and in proper form to the secretary of the Corporation[36] - Stockholders must comply with the notice requirements for special meetings, with specific timelines for submission[36] Voting and Quorum - A quorum for stockholder meetings is established by a majority in voting power of the capital stock issued and outstanding[48] - Stockholders are entitled to one vote for each share of capital stock held[52] - A plurality of votes cast is sufficient to elect a director at stockholder meetings[53] - Actions by stockholders must be taken at a duly called meeting and cannot be executed by written consent[54] - The Board may fix a record date for stockholders entitled to notice of meetings, which cannot be more than 60 days nor less than 10 days before the meeting[55] - If no record date is fixed, the record date for determining stockholders entitled to vote is at the close of business on the day before notice is given[55] - Each stockholder entitled to vote may authorize another person to act for them by proxy, which is valid for up to three years unless stated otherwise[57] - A complete list of stockholders entitled to vote must be prepared at least 10 days before every meeting, showing the address and number of shares for each stockholder[59] Board of Directors - The greater of a majority of directors or one-third of the authorized number constitutes a quorum for Board meetings[79] - The Board may take action without a meeting if all members consent in writing or electronically, which must be filed with the minutes[80] - The Board has the authority to fix the compensation of directors[81] - Directors may be removed only for cause by a two-thirds vote of the outstanding shares entitled to vote[82] - The Board must appoint inspectors of election before any meeting to ensure impartiality in the voting process[61] - The Corporation may designate one or more committees consisting of directors to manage business affairs, with the authority to exercise Board powers as specified in bylaws[89] - Each committee is required to keep regular minutes of its meetings and report them to the Board when necessary[90] - The Board has the authority to appoint officers, including a president, treasurer, and secretary, with the possibility of additional roles as needed[94] - Officers may be removed by the Board at any regular or special meeting, and any officer may resign at any time with written notice[97][98] Financial Matters - The Corporation may declare and pay dividends on shares of capital stock, which can be in cash, property, or additional shares[111] - The fiscal year of the Corporation shall be determined by the Board and may be changed as needed[113] - The Corporation may adopt a corporate seal, which can be altered by the Board[114] - Shares of the Corporation are transferable according to law and these bylaws, requiring proper endorsement and documentation[115] - The Corporation is entitled to recognize the registered owner of shares for dividends and voting rights, and is not bound to recognize claims from others[117] Indemnification - The Corporation shall indemnify each Indemnitee against all expenses, liabilities, losses, and judgments incurred in connection with any action, suit, or proceeding, provided they acted in good faith and in the best interests of the Corporation[126] - Indemnification is not available for claims where the Indemnitee has been adjudged liable to the Corporation unless a court determines that indemnification is appropriate under the circumstances[128] - An Indemnitee who is successful in defending any action shall be indemnified for all expenses incurred[129] - Indemnitees must notify the Corporation in writing of any action or proceeding for which indemnity is sought[131] - The Corporation will advance expenses incurred by Indemnitees in defending actions, provided they agree to repay if it is ultimately determined they are not entitled to indemnification[132] - Indemnification requests must be submitted in writing and will be processed within 60 days unless certain conditions apply[133] - The Corporation shall not indemnify an Indemnitee for proceedings initiated by them unless approved by the Board[136] - Indemnification rights continue for Indemnitees even after they cease to hold office and extend to their estates and heirs[138] - The Corporation may enter into agreements providing different indemnification rights and procedures for officers and directors[138] - Indemnification rights are not exclusive and may be supplemented by other legal rights or agreements[138] - The Corporation is entitled to indemnification for expenses, liabilities, and losses incurred in connection with legal actions, including attorneys' fees[139] - The Corporation may purchase insurance to protect itself and its directors, officers, and employees against incurred expenses and liabilities[140] - If any part of Article IX is invalidated, the Corporation will still indemnify Indemnitees to the fullest extent permitted by applicable law[141] Bylaws - The Board has the power to adopt, amend, or repeal the bylaws, with specific requirements during the Special Governance Term[144]

Core Insights - Leap Therapeutics Inc. is currently trading at $0.69, reflecting a 9.15% decline in pre-market trading [1] - The company has announced a private placement led by Winklevoss Capital, raising $58.88 million through the issuance of common shares and warrants [2][5] - Leap is initiating a digital asset treasury strategy with the support of Winklevoss Capital, which will also fund the development of its therapeutic programs [3] Financial Performance - Leap reported a loss of $0.40 per share in Q2, which was worse than the analyst estimate of a $0.29 loss, with zero revenue reported [6] - The company has a market capitalization of $31.86 million and a yearly trading range between $0.22 and $4.79 [6] Stock Performance - Leap's stock has increased by 163.34% over the past six months, despite a significant decline of 73.48% since the beginning of the year [7] - The stock closed at $0.76 on Monday, marking a 43.15% increase for that day [7] Strategic Developments - As part of the private placement agreement, Leap will expand its board of directors to 12 members, with Winklevoss Capital nominating two directors [5] - The private placement is expected to close on Wednesday, pending customary closing conditions [5] Clinical Developments - Leap's therapeutic program, sirexatamab, recently completed a Phase 2 trial in colorectal cancer patients, with results to be presented at the ESMO Congress 2025 [4]