Inhibikase Therapeutics(US:IKT) globenewswire.com·2024-05-20 12:01Core Viewpoint - Inhibikase Therapeutics, Inc. has entered into a securities purchase agreement to raise approximately $4.0 million through a registered direct offering and concurrent private placement, aimed at advancing its clinical-stage development of therapeutics for Parkinson's disease and related disorders [1][3]. Group 1: Securities Offering Details - The company will sell 1,672,452 shares of common stock at a combined purchase price of $1.68, along with Series A and Series B warrants, each with an exercise price of $1.68 [1][2]. - The gross proceeds from the offering, including the concurrent private placement and warrant inducement, are estimated to be around $4.0 million before deducting fees and expenses [3]. - The offering is expected to close on or about May 22, 2024, subject to customary closing conditions [3]. Group 2: Warrant Inducement Agreement - Inhibikase has entered into a warrant inducement agreement with an investor to exercise outstanding warrants from January 2023, allowing the purchase of 708,500 shares at an amended exercise price of $1.68 [2]. - The company will also issue Series C and Series D warrants, each with an exercise price of $1.68, in connection with this agreement [2]. Group 3: Company Overview - Inhibikase Therapeutics is focused on developing protein kinase inhibitor therapeutics for Parkinson's disease and related disorders, with a lead program targeting the treatment of Parkinson's disease [6][7]. - The company's pipeline includes various therapeutic approaches for neurodegeneration and aims to improve patient experience with fewer side effects through innovative drug delivery technologies [7].