Inhibikase Therapeutics Announces 2024 Financial Results and Highlights Recent Activity

Core Viewpoint - Inhibikase Therapeutics, Inc. is advancing its clinical development of IkT-001 for pulmonary arterial hypertension (PAH) and has reported a net loss for 2024 while enhancing its management team to support growth [2][4][7]. Financial Results - The net loss for the year ended December 31, 2024, was $27.5 million, or$1.16 per share, compared to a net loss of $19.1 million, or$3.16 per share in 2023 [4][15]. - Research and development expenses increased to $17.2 million in 2024 from$13.6 million in 2023 [4][14]. - Selling, general and administrative expenses rose to $11.4 million in 2024 from$6.7 million in 2023 [5][14]. - As of December 31, 2024, the company had cash, cash equivalents, and marketable securities totaling $97.5 million [5]. Recent Developments - The company closed a private placement in October 2024, raising approximately$110 million to support the late-stage clinical trial of IkT-001, with potential total gross proceeds of up to $275 million if warrants are exercised [7]. - The company received a "Study May Proceed" letter for the Phase 2b trial of IkT-001 in September 2024, indicating progress in its clinical development [7]. - The management team was strengthened with the appointments of Chris Cabell and John Adams, who are expected to accelerate the development of IkT-001 [2][7].