Leap Therapeutics Inc. (NASDAQ:LPTX) is trading at $0.69 in pre-market, down 9.15% on Tuesday.Check out the current price of LPTX stock here.Winklevoss Capital Leads $58.9 Million Private PlacementThe Cambridge, Massachusetts-based biotechnology company announced $58.88 million in cash commitments for a private investment in public equity offering led by Winklevoss Capital. According to an Oct. 6 press release, the deal involves 95,849,353 common shares or pre-funded warrants, along with warrants to purchas ...

Shares of Leap Therapeutics (LPTX) climbed 25% after the microcap cancer drug developer announced a $58.9 million private investment led by Winklevoss Capital to kickstart a crypto treasury strategy. The investment, structured as a private placement, includes common shares and warrants priced at $0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also gain two board seats at Leap. Exactly which cryptos would be purchased was not disclosed. Leap, known for its immuno-onco ...

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, /PRNewswire/ -- Leap Therapeutics (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, today announced $58,888,888 in cash commitments for a private investment in public equity ("PIPE") offering led by Winklevoss Capital to initiate a digital asset treasury strategy. Leap has entered into a securities purchase agreement for the purchase and sale of (i) 95,849,353 shares of common stock (the "Purchased Shares") or pre-funded warrants in lieu thereof (the ...

Core Insights - Leap Therapeutics, Inc. announced the presentation of final clinical results from Part B of the DeFianCe study, focusing on the efficacy of sirexatamab (DKN-01) in combination with bevacizumab and chemotherapy for advanced microsatellite stable colorectal cancer [1][2] Company Overview - Leap Therapeutics is a biotechnology company specializing in targeted and immuno-oncology therapeutics, with a pipeline that includes sirexatamab (DKN-01) and FL-501, both humanized monoclonal antibodies targeting specific proteins [2] Clinical Study Details - The DeFianCe study is a Phase 2 trial comparing the Sirexatamab Arm (sirexatamab plus bevacizumab and chemotherapy) to the Control Arm (bevacizumab and chemotherapy) in patients who have received one prior systemic therapy for advanced disease [1][2] - The final results will be presented at the European Society for Medical Oncology (ESMO) Congress 2025, scheduled for October 17-21 in Berlin, Germany [1]

Cambridge, MA – August 14, 2025 – Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, today reported financial results for the second quarter of 2025. Leap Highlights: DKN-01 Development Update · Reported updated clinical data from Part B of the DeFianCe study of sirexatamab plus bevacizumab and chemotherapy in CRC patients. In the updated analysis as of May 22, 2025, sirexatamab demonstrated a statistically significant benefit on o ...

Core Insights - Leap Therapeutics, Inc. reported a strategic realignment focusing on corporate development opportunities for its products sirexatamab and FL-501, alongside a reduction in internal expenses and a review of strategic alternatives to maximize shareholder value [2][11]. Financial Performance - The net loss for the second quarter of 2025 was $16.6 million, a decrease from $20.4 million in the same quarter of 2024, primarily due to reduced research and development and general administrative expenses [5][6]. - Research and development expenses were $10.5 million for Q2 2025, down from $17.9 million in Q2 2024, reflecting a decrease of $7.4 million attributed to lower clinical trial costs and other related expenses [6]. - General and administrative expenses decreased to $1.8 million in Q2 2025 from $3.4 million in Q2 2024, mainly due to reductions in payroll and incentive-based compensation [7]. - The company incurred $4.5 million in restructuring charges related to workforce reduction during the second quarter [8]. Clinical Development - Updated clinical data from the DeFianCe study indicated that sirexatamab showed a statistically significant benefit in overall response rate and progression-free survival in colorectal cancer patients with specific characteristics [3]. Strategic Initiatives - The Board of Directors initiated a process to explore strategic alternatives, including potential sales or partnerships for sirexatamab and FL-501, and engaged Raymond James & Associates, Inc. as an exclusive financial advisor [11]. - The company implemented a workforce reduction of approximately 75% to further reduce spending and preserve capital [11]. Cash Position - As of June 30, 2025, cash and cash equivalents totaled $18.1 million, a decrease from $47.2 million at the end of 2024 [15].

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 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, 2025 47 Thorndike St, Suite B1-1, Cambridge, MA Address of Principal Executive Offices 27-4412575 (I.R.S. Employer Identification No.) (617) 714-0360 For the transition period from ...

Core Viewpoint - Leap Therapeutics is exploring strategic alternatives to maximize shareholder value following updated positive results from the DeFianCe study, which demonstrated significant benefits of sirexatamab in specific patient subgroups with advanced colorectal cancer [1][2][7]. Study Results - The DeFianCe study (NCT05480306) showed that sirexatamab, in combination with bevacizumab and chemotherapy, provided statistically significant improvements in progression-free survival (PFS) and overall response rate (ORR) among patients with high DKK1 levels, no prior anti-VEGF therapy, or liver metastasis [1][3]. - In the intent-to-treat population (n=188), the median PFS for the sirexatamab arm was 9.2 months compared to 8.31 months for the control arm, with a hazard ratio (HR) of 0.84 [3]. - For patients with high DKK1 levels (n=44), the median PFS was 9.36 months for the sirexatamab arm versus 5.88 months for the control arm, with a significant p-value of 0.0237 [4]. - In patients who had not received prior anti-VEGF therapy (n=95), the median PFS was 11.2 months for the sirexatamab arm compared to 8.34 months for the control arm, with a p-value of 0.0383 [5]. Corporate Actions - Due to current market conditions, Leap Therapeutics has decided to wind down the DeFianCe clinical trial and implement a workforce reduction of approximately 75%, with estimated costs of $3.2 million related to severance payments [2][6]. - The company has engaged Raymond James & Associates, Inc. as an exclusive financial advisor to assist in exploring strategic alternatives, including potential sales or partnerships for sirexatamab and FL-501 [7]. - As of March 31, 2025, Leap's cash and cash equivalents totaled $32.7 million, indicating a need for strategic financial management [6].

Financial Performance - Leap Therapeutics reported a net loss of $15.4 million for Q1 2025, an increase from $13.8 million in Q1 2024, primarily due to higher research and development expenses [10]. - Leap's total operating expenses for Q1 2025 were $15.9 million, compared to $14.8 million in Q1 2024 [20]. - Leap's accumulated deficit increased to $482.8 million as of March 31, 2025, compared to $467.4 million at the end of 2024 [22]. Research and Development - Research and development expenses rose to $12.9 million in Q1 2025, up from $11.3 million in the same period of 2024, driven by increased clinical trial costs [11]. - The company announced a strategic restructuring, resulting in an approximately 50% reduction in workforce to focus on the clinical development of sirexatamab and FL-501 [6]. - The company plans to advance sirexatamab into a registrational Phase 3 clinical trial, indicating a significant potential market opportunity [13]. Clinical Trial Results - Sirexatamab demonstrated a statistically significant 32% higher overall response rate (ORR) and 3.5 months longer progression-free survival (PFS) in patients with high DKK1 levels compared to the control arm [7]. - In patients who had not received prior anti-VEGF therapy, the Sirexatamab arm showed a statistically significant 22% higher ORR and 2.6 months longer PFS compared to the control arm [7]. - Leap hosted a virtual key opinion leader event to discuss the positive data from the DeFianCe study, highlighting the unmet need in advanced MSS CRC patients [13]. Cash and Cash Equivalents - The company has approximately $32.7 million in cash and cash equivalents as of March 31, 2025, down from $47.2 million at the end of 2024 [14]. - Cash and cash equivalents at the end of Q1 2025 were $32,713 thousand, down from $54,921 thousand at the end of Q1 2024, representing a decrease of 40.4% [24]. - Cash used in operating activities decreased to $(14,480) thousand in Q1 2025 from $(15,516) thousand in Q1 2024, showing an improvement of 6.7% [24]. - Net decrease in cash and cash equivalents for Q1 2025 was $(14,536) thousand compared to $(15,722) thousand in Q1 2024, indicating a 7.5% improvement [24]. - Cash provided by (used in) financing activities shifted from $29 thousand in Q1 2024 to $(61) thousand in Q1 2025, reflecting a change of 310.3% [24]. - The effect of exchange rate changes on cash and cash equivalents improved to $5 thousand in Q1 2025 from $(235) thousand in Q1 2024, marking a significant recovery [24]. - Cash and cash equivalents at the beginning of Q1 2025 were $47,249 thousand, down from $70,643 thousand at the beginning of Q1 2024, a decrease of 33.2% [24].