Gain Therapeutics(US:GANX)2026-03-26 20:05Financial Performance - Net loss for the year ended December 31, 2025, was $20.2 million, or $0.61 per share, compared to a net loss of $20.4 million, or $0.89 per share, for 2024[10]. - The company reported a loss of $20.16 million for the period in 2025, slightly improved from a loss of $20.41 million in 2024[25]. - The company’s accumulated deficit widened to $81.19 billion in 2025 from $60.78 billion in 2024[25]. Expenses - Research and development (R&D) expenses decreased by $0.6 million to $10.2 million for the year ended December 31, 2025, compared to $10.8 million for 2024, primarily due to pipeline cost optimization[8]. - General and administrative (G&A) expenses decreased by $1.1 million to $8.5 million for the year ended December 31, 2025, from $9.6 million for 2024, mainly due to lower stock-based compensation and legal fees[9]. Cash and Assets - Cash, cash equivalents, and marketable securities were $20.8 million as of December 31, 2025, up from $10.4 million as of December 31, 2024[10]. - Total assets increased to $22.82 billion in 2025 from $12.12 billion in 2024, representing an 88% growth[25]. - Current assets rose to $22.24 billion in 2025, up from $11.60 billion in 2024, marking a 91% increase[25]. - Cash and cash equivalents more than doubled, reaching $20.84 billion in 2025, up from $10.39 billion in 2024[25]. - Operating lease right-of-use assets increased to $334.09 million in 2025 from $219.72 million in 2024, a rise of 52%[25]. Liabilities and Equity - Total liabilities decreased to $4.25 billion in 2025 from $4.78 billion in 2024, a reduction of 11%[25]. - Stockholders' equity surged to $18.56 billion in 2025, compared to $7.34 billion in 2024, reflecting a 153% increase[25]. - Additional paid-in capital increased to $119.14 billion in 2025 from $88.78 billion in 2024, a growth of 34%[25]. - Accounts payable decreased to $825.03 million in 2025 from $946.26 million in 2024, a decline of 13%[25]. Clinical Development - In participants with elevated baseline levels of glucosylsphingosine (GluSph) in cerebrospinal fluid (CSF), GluSph decreased by an average of 81% after 90 days of treatment with GT-02287[4]. - MDS-UPDRS scores remained stable over 150 days of dosing in the Phase 1b study, indicating durable effects of GT-02287[3]. - The Phase 1b nine-month extension study for GT-02287 is expected to complete in September 2026, with results anticipated in Q4 2026[3][13]. - GT-04686, a novel glucocerebrosidase (GCase) allosteric modulator, is ready for IND-enabling studies for the treatment of Parkinson's disease and other neurological disorders[6]. - The company expects to begin a Phase 2 clinical trial of GT-02287 in people with Parkinson's disease in Q3 2026[13]. - Gain Therapeutics has received funding support from The Michael J. Fox Foundation and other organizations for the development of its lead program in Parkinson's disease[17].