Core Viewpoint - Inhibikase Therapeutics, Inc. has reported its financial results for Q2 2024, highlighting advancements in its clinical pipeline, particularly for risvodetinib and IkT-001Pro, while also showing a reduction in net loss compared to the previous year [1][4]. Recent Developments and Upcoming Milestones - The company completed enrollment in the Phase 2 '201' trial for risvodetinib, with 126 patients enrolled and the last patient expected to exit the trial in September 2024, with topline data anticipated in November 2024 [2][3]. - IkT-001Pro has progressed as a potential treatment for Pulmonary Arterial Hypertension (PAH), with an IND filed and plans to ramp up the Phase 2 '702' trial following FDA clearance [2][3]. - The FDA acknowledged the company's bridging study between imatinib's use in cancers and PAH, deeming the Phase 2 design reasonable [3]. - The active ingredient in IkT-001Pro, imatinib, has shown potential as a disease-modifying agent for PAH, with a market value of 4 million in May 2024 to support the advancement of risvodetinib and IkT-001Pro [3]. Financial Results - The net loss for Q2 2024 was 0.66 per share, an improvement from a net loss of 0.94 per share in Q2 2023 [4]. - Research and development expenses decreased to 4.5 million in Q2 2023, primarily due to the completion of a dose-finding study [5]. - Selling, general and administrative expenses increased to 1.8 million in Q2 2023, driven by higher legal and consulting fees [6]. - As of June 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $7.9 million, expected to fund operations into December 2024 [7].
Inhibikase Therapeutics Reports Second Quarter Financial Results and Highlights Recent Period Activity