Inhibikase Therapeutics Reports First Quarter Financial Results and Highlights Recent Period Activity

Core Viewpoint - Inhibikase Therapeutics is advancing its clinical programs, particularly focusing on Risvodetinib for Parkinson's disease and IkT-001Pro for various cancers, with significant milestones expected in 2024 [2][3]. Recent Developments and Upcoming Milestones - The Phase 2 201 trial for Risvodetinib is 83% enrolled, with final patient enrollment anticipated in June 2024, and results expected in the second half of the year [2][6]. - Positive interactions with the FDA regarding IkT-001Pro for gastrointestinal and hematological cancers have been reported, with plans for a 505(b)(2) NDA submission [2][6]. - A Pre-IND meeting for IkT-001Pro in pulmonary arterial hypertension confirmed its classification as a novel chemical entity, with FDA support for the initial Phase 2/3 design [6]. First Quarter Financial Results - The net loss for Q1 2024 was $4.6 million, or $0.73 per share, compared to a net loss of $4.5 million, or $0.98 per share in Q1 2023 [4][16]. - Research and development expenses decreased to $2.8 million from $2.9 million year-over-year, while selling, general, and administrative expenses increased to $2.0 million from $1.9 million [5][7]. - Cash, cash equivalents, and marketable securities totaled $9.7 million as of March 31, 2024, expected to fund operations through November 2024 [8]. Financial Position - Total assets as of March 31, 2024, were $11.1 million, down from $14.5 million at the end of 2023 [14]. - Current liabilities increased to $4.2 million from $3.4 million, with total liabilities at $4.3 million [14]. - Stockholders' equity decreased to $6.8 million from $11.0 million, reflecting an accumulated deficit of $71.6 million [14].