IKT Inhibikase Therapeutics Inc.

2.16
-0.04  -2%
Previous Close 2.2
Open 2.23
52 Week Low 2.03
52 Week High 11.8
Market Cap $54,288,025
Shares 25,133,345
Float 19,844,264
Enterprise Value $48,686,762
Volume 475,398
Av. Daily Volume 952,153
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Drug Pipeline

Drug Stage Notes
IkT-148009
Parkinson’s disease
Phase 1
Phase 1
Phase 1 initiation of dosing announced February 17, 2021.

Latest News

  1. ATLANTA, July 26, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) ("Inhibikase" or "Company"), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders, today announced that, after a review of safety, tolerability and pharmacokinetic data from the Company's Phase 1 clinical trial of IkT-148009 in healthy volunteers, the United States Food and Drug Administration (FDA) has given the Company clearance to begin a Phase 1b extension study to evaluate its lead drug candidate IkT-148009 in Parkinson's patients.

    The randomized Phase 1 study investigated the safety, tolerability and pharmacokinetics (PK) of IkT-148009 in healthy volunteers aged 45 to 70 years…

    ATLANTA, July 26, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) ("Inhibikase" or "Company"), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders, today announced that, after a review of safety, tolerability and pharmacokinetic data from the Company's Phase 1 clinical trial of IkT-148009 in healthy volunteers, the United States Food and Drug Administration (FDA) has given the Company clearance to begin a Phase 1b extension study to evaluate its lead drug candidate IkT-148009 in Parkinson's patients.

    The randomized Phase 1 study investigated the safety, tolerability and pharmacokinetics (PK) of IkT-148009 in healthy volunteers aged 45 to 70 years old, with the objective of evaluating the safety, tolerability and the PK profile of IkT-148009 in single and multiple ascending dose settings. Forty-two patients were dosed with IkT-148009 between 12.5 and 100 mg with no clinically significant adverse events reported. High drug exposures were achieved in this dose range and were consistent with exposures observed in animal efficacy studies of inherited and sporadic progressive Parkinson's disease. Following the review, the Agency met with the Company on July 22, 2021, and granted the company permission to begin evaluation of IkT-148009 in Parkinson's patients.

    "The extension of our Phase 1 study of IkT-148009 for the treatment of Parkinson's disease into patients is an important milestone for Inhibikase. IkT-148009 is a highly selective, potent inhibitor of the Abelson Tyrosine Kinase, or c-Abl, which plays a critical role in driving neurodegeneration and neuroinflammation in Parkinson's disease," stated Milton Werner, Ph.D., President and Chief Executive Officer of Inhibikase Therapeutics. "In validated preclinical animal models, IkT-148009 was able to drive functional recovery in the brain and gastrointestinal tract, clear pathologic alpha-synuclein aggregates, and block neurodegeneration and neuroinflammation. With the initiation of our Phase 1b extension study in Parkinson's patients, we are excited that we may be closer to finally impacting this devastating disease that affects millions of people worldwide."

    About IkT-148009

    IkT-148009 is a selective c-Abl kinase inhibitor that uniquely inhibits c-Abl and the closely related Abl2/Arg enzyme without inhibition of other members of the Abl-kinase family, namely c-Kit or PDGFRa/b. It has nearly 20x the potency of the anticancer agent Imatinib against c-Abl in enzyme inhibition assays. The extension of the Company's Phase 1 study into the patient population, a Phase 1b, will focus on safety, tolerability and pharmacokinetics measured over 7 to 14 days. The Company is completing 13-week pivotal toxicology studies that will be submitted to the U.S. FDA for review in August, 2021. Following Agency review and agreement, the Company may be able to dose patients out to 3 months. Cognitive, motor function and gut motility tests will all be assessed as exploratory endpoints in this Phase 1b study, to include measures of alpha-synuclein aggregate clearance in multiple compartments as a consequence of treatment.

    About Parkinson's Disease

    Parkinson's disease (PD) is the second most prevalent neurodegenerative disorder, affecting approximately 1,000,000 persons in the United States, with 60,000 new cases and 38,000 deaths annually. PD is a progressive neurodegenerative disease that initiates with misfolding of a small, non-essential protein known as alpha-synuclein inside and outside of the brain. The common features of PD include tremors at a resting state, slowing or lack of control of movement and postural instability. These features of the disease arise from degeneration of neurons that secrete dopamine to transmit neurological signals. The degeneration of these dopaminergic neurons in nigrostriatal area of the brain near the brainstem, coupled with the accumulation of alpha-synuclein protein aggregates in cell bodies and terminals known as Lewy bodies, have long been thought to be the cause of the disease. Less well known are the features of this disease can affect serotonin levels, cholinergic, and norepinephrine neurons and nerve cells in the olfactory system, cerebral hemisphere, brain stem, spinal cord, and peripheral autonomic nervous system such as in the GI tract. Currently, these non-dopaminergic features are not properly controlled with dopamine-replacement or levodopa therapy.

    About Inhibikase (www.inhibikase.com)

    Inhibikase Therapeutics, Inc. (NASDAQ:IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, targets the treatment of Parkinson's disease inside and outside the brain. Inhibikase is currently evaluating the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects and Parkinson's patients. Its multi-therapeutic pipeline is pursuing Parkinson's-related disorders of the brain and GI tract, orphan indications related to Parkinson's disease such as Multiple System Atrophy, or MSA, and drug delivery technologies for kinase inhibitors such as IkT-001Pro, a prodrug of the anticancer agent Imatinib that the Company believes will provide a better patient experience with fewer on-dosing side-effects. The Company's RAMPTM medicinal chemistry program has identified a number of follow-on compounds to IkT-148009 to be applied to other cognitive and motor function diseases of the brain. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.

    Social Media Disclaimer

    Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Inhibikase's filings with the SEC, including its registration statement on Form S-1, as amended (File No. 333-240036), including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

    Cision View original content:https://www.prnewswire.com/news-releases/inhibikase-therapeutics-receives-fda-clearance-to-begin-evaluation-of-ikt-148009-in-parkinsons-patients-301340976.html

    SOURCE Inhibikase Therapeutics, Inc.

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  2. ATLANTA, June 18, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced the closing of its previously announced underwritten public offering of 15 million shares of its common stock at a price to the public of $3.00 per share. The gross proceeds to Inhibikase from the public offering, before deducting underwriting discounts and commissions and offering expenses payable by Inhibikase, were $45 million.  Inhibikase has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 shares of common stock, at the public offering…

    ATLANTA, June 18, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced the closing of its previously announced underwritten public offering of 15 million shares of its common stock at a price to the public of $3.00 per share. The gross proceeds to Inhibikase from the public offering, before deducting underwriting discounts and commissions and offering expenses payable by Inhibikase, were $45 million.  Inhibikase has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 shares of common stock, at the public offering price less discounts and commissions.

    Inhibikase intends to use the net proceeds from the public offering, together with existing funds, to fund the costs of a Phase 1b extension study for IkT-148009 in Parkinson's patients and to validate target engagement markers in the central and peripheral nervous system; to fund production of IkT-148009 for Phase 1b and Phase 2 clinical studies and to fund a Phase 2 efficacy trial of IkT-148009 in Parkinson's patients.  This funding will further support the clinical dose calibration study(ies) of IkT-001Pro in healthy subjects to support approval under the Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act and to fund drug product production for IkT-001Pro.  The balance will support general research and development activities, medicinal chemistry for additional molecules and IND-enabling studies, team building, and other general corporate activities.

    ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering.  JonesTrading Institutional Services LLC acted as the co-manager for the offering.

    The offering was made pursuant to a registration statement on Form S-1 (File No. 333-257032) that was declared effective by the Securities and Exchange Commission (the "SEC") on June 15, 2021. A final prospectus related to the offering has been filed with the SEC and is available on the SEC's website, located at www.sec.gov.  Copies of the final prospectus relating to this offering may be obtained from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at .

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

    About Inhibikase (www.inhibikase.com)

    Inhibikase Therapeutics, Inc. (NASDAQ:IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently completing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease.  Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.

    Social Media Disclaimer

    Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions and include statements regarding  the possible offering of additional shares pursuant to the underwriters' over-allotment option, should it be exercised, the intended use of proceeds and Inhibikase's ability to later raise additional capital, if required, and the intended treatment of Parkinson's disease inside and outside the brain. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to,  those risk factors set forth from time to time in Inhibikase's filings with the Securities and Exchange Commission (SEC), including its registration statement on Form S-1 related to this offering and its annual report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2021, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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    SOURCE Inhibikase Therapeutics, Inc.

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  3. ATLANTA, June 15, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced the pricing of an underwritten public offering of 15 million shares of its common stock at a public offering price of $3.00 per share for total gross proceeds of approximately $45 million (the "Offering) before deducting underwriting discounts and commissions and offering expenses payable by Inhibikase. In addition, Inhibikase has granted the underwriters a 45-day option to purchase up to 2.25 million additional shares of common stock at the public offering price, less underwriting…

    ATLANTA, June 15, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced the pricing of an underwritten public offering of 15 million shares of its common stock at a public offering price of $3.00 per share for total gross proceeds of approximately $45 million (the "Offering) before deducting underwriting discounts and commissions and offering expenses payable by Inhibikase. In addition, Inhibikase has granted the underwriters a 45-day option to purchase up to 2.25 million additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on June 18, 2021, subject to customary closing conditions.

    Inhibikase intends to use the net proceeds from the public offering, together with existing funds, to fund the costs of a Phase 1b extension study for IkT-148009 in Parkinson's patients and to validate target engagement markers in the central and peripheral nervous system; to fund production of IkT-148009 for Phase 1b and Phase 2 clinical studies and to fund a Phase 2 efficacy trial of IkT-148009 in Parkinson's patients.  This funding will further support the clinical dose calibration study(ies) of IkT-001Pro in healthy subjects to support approval under the Section 505(b)(2) of the Federal Food, Drug and Cosmetic Act and to fund drug product production for IkT-001Pro.  The balance will support general research and development activities, medicinal chemistry for additional molecules and IND-enabling studies, team building, and other general corporate activities

    ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.  JonesTrading Institutional Services LLC is acting as the co-manager for the offering.

    The offering is being made pursuant to a registration statement on Form S-1 (File No. 333-257032) that was declared effective by the Securities and Exchange Commission (the "SEC") on June 15, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at .

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

    About Inhibikase (www.inhibikase.com)

    Inhibikase Therapeutics, Inc. (NASDAQ:IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently completing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.

    Social Media Disclaimer

    Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions and include statements regarding the expected timing of the closing of the offering, the possible offering of additional shares, the intended use of proceeds and the intended treatment Parkinson's disease inside and outside the brain. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those risk factors set forth from time to time in Inhibikase's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 31, 2021, including under the caption "Risk Factors ." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

    Cision View original content:http://www.prnewswire.com/news-releases/inhibikase-therapeutics-prices-follow-on-public-offering-of-common-stock-301313206.html

    SOURCE Inhibikase Therapeutics, Inc.

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  4. ATLANTA, May 17, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today reported financial results for the first quarter ended March 31, 2021 and highlighted recent developments.

    Key Business and Clinical Highlights

    • Accelerated timelines for Phase 1 Study of IkT-148009 for the treatment of PD and associated GI Disorders: In February, 2021 Inhibikase commenced patient dosing in its Phase 1 study evaluating the safety, tolerability and pharmacokinetics of IkT-148009, the Company's novel brain penetrant Abelson tyrosine kinase (c-Abl) inhibitor with the potential to modify Parkinson's disease and its gastrointestinal complications. In April, 2021, the Company announced that it had accelerated the timeline for completion of the study based on early data that provided the opportunity to seek regulatory approval to commence dosing of PD patients in the third quarter of 2021, much earlier than previously anticipated.
    • Advancing chronic toxicology studies of IkT-148009 to permit long-term dosing in patients: In January, 2021 Inhibikase initiated 3- and 6-month long-term toxicology studies of IkT-148009 in mice and 3- and 9-month long-term toxicology studies of IkT-148009 in primates as required to obtain regulatory approval for chronic administration of IkT-148009 in patients. The Company has completed 3-month toxicology studies and is presently completing its histopathology analysis in preparation for submission of the data for regulatory review early in the third quarter of 2021. The Company expects to complete 6- and 9-month toxicology studies in the fourth quarter of 2021.
    • Initiated clinical batch manufacturing and pill formulation of IkT-001Pro. In February, 2021, Inhibikase initiated clinical batch manufacturing and final product formulation of IkT-001Pro, the Company's prodrug formulation of Imatinib, designed as a potentially safer, better tolerated treatment for Imatinib-sensitive cancers such as stable-phase Chronic Myeloid Leukemia (CML). Inhibikase expects to file an Investigational New Drug (IND) application in the third quarter of 2021, with initiation of clinical development as soon as practicable after the filing, subject to FDA acceptance of the IND.

    "We are proud of the milestones we have achieved in the first quarter of 2021. The acceleration of our Phase 1 study for our lead candidate, IkT-148009 should allow us to move into evaluation of the safety, tolerability and pharmacokinetics in Parkinson's patients early in the third quarter of 2021. Concurrently, we are advancing two long term toxicology studies in animals, which will allow for chronic administration of IKT-148009 in patients following FDA review and acceptance," commented Milton Werner, Ph.D., President and Chief Executive Officer of Inhibikase. "In the third quarter of 2021, we plan to file our IND application for IKT-001Pro, which holds the potential to be a safer and better tolerated treatment for cancers such as CML, and expect to initiate clinical development as soon as practicable following the submission of the IND application. We look forward to making 2021 a success as we work to advance our early stage programs forward."

    First Quarter Financial Review

    Net Loss: Net loss for the quarter ended March 31, 2021, was $2.6 million, or $0.26 per share, compared to a net loss of $0.5 million, or $0.07 per share for the first quarter in 2020.

    R&D Expenses: Research and development expenses were $2.4 million for the quarter ended March 31, 2021 compared to $0.3 million for the first quarter in 2020. The increase was driven by an increase in grant related research expenditures and non-grant related research. The non-grant related research was expended primarily in connection with the Company's Phase 1 clinical trials.

    SG&A Expenses: Selling, general and administrative expenses for the quarter ended March 31, 2021 were $1.6 million compared to $0.5 million for the first quarter in 2020. The increase was primarily the result of increased non-cash stock compensation expense, increased directors and officer's liability insurance related to the Company's initial public offering in December 2020, increased legal fees, board fees, investor relations and consulting fees relating to operating as a public company registrant since December 2020, and an increase in other normal operating expenses.

    Cash Position: Cash and cash equivalents were $9.6 million as of March 31, 2021.

    About Inhibikase (www.inhibikase.com)

    Inhibikase Therapeutics, Inc. (NASDAQ:IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently performing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.

    Social Media Disclaimer

    Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth from time to time in Inhibikase's filings with the SEC, including its annual report on Form 10-K filed on March 31, 2021, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

    Inhibikase Therapeutics, Inc.

    Condensed Balance Sheets







    March 31,

    2021





    December 31,

    2020







    (unaudited)









    Assets















    Current assets:















    Cash



    $

    9,609,631





    $

    13,953,513



    Accounts receivable





    332,774









    Prepaid research and development





    712,674







    774,356



    Prepaid expenses and other current assets





    1,216,173







    54,837



    Total





    11,871,252







    14,782,706



    Deferred offering costs





    2,783









    Total assets



    $

    11,874,035





    $

    14,782,706



    Liabilities and stockholders' equity













    Current liabilities:













    Accounts payable



    $

    715,016





    $

    1,720,680



    Accrued expenses and other current liabilities





    627,399







    632,934



    Deferred revenue





    1,251,349







    2,325,741



    Notes payable





    994,789







    42,534



    Total





    3,588,553







    4,721,889



    Notes payable, net of current portion





    248,911







    276,461



    Total liabilities





    3,837,464







    4,998,350



    Commitments and contingencies













    Stockholders' equity:













    Preferred stock, $0.001 par value; 10,000,000 shares authorized at

    March 31, 2021 and December 31, 2020; 0 shares issued and

    outstanding at March 31, 2021 and December 31, 2020.













    Common stock, $0.001 par value; 100,000,000 and 30,000,000

    shares authorized; 10,059,849 and 10,050,849 shares issued and

    outstanding at March 31, 2021 and December 31, 2020, respectively.





    10,060







    10,051



    Additional paid-in capital





    25,695,203







    24,805,929



    Accumulated deficit





    (17,668,692)







    (15,031,624)



    Total





    8,036,571







    9,784,356



    Total liabilities and stockholders' equity



    $

    11,874,035





    $

    14,782,706



     

    Inhibikase Therapeutics, Inc.

    Condensed Statements of Operations

    (Unaudited)







    Three Months Ended March 31,







    2021





    2020



    Revenue:

















    Grant revenue



    $

    1,407,165





    $

    270,787



    Total revenue





    1,407,165







    270,787



    Costs and expenses:

















    Research and development





    2,431,860







    283,114



    Selling, general and administrative





    1,600,576







    527,688



    Total costs and expenses





    4,032,436







    810,802



    Loss from operations





    (2,625,271)







    (540,015)



    Interest expense





    (11,797)







    (7,425)



    Net loss



    $

    (2,637,068)





    $

    (547,440)



    Net loss per share – basic and diluted



    $

    (0.26)





    $

    (0.07)



    Weighted-average number of common shares – basic and diluted





    10,053,949







    8,181,734



     

     

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/inhibikase-therapeutics-reports-first-quarter-2021-financial-results-and-highlights-recent-period-activity-301292776.html

    SOURCE Inhibikase Therapeutics, Inc.

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  5. ATLANTA, April 21, 2021 /PRNewswire/ -- Inhibikase Therapeutics, Inc. (NASDAQ:IKT) (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson's disease and related disorders inside and outside of the brain, today announced that Milton Werner, Ph.D., President and Chief Executive Officer, will provide an update on clinical measures of dosing pharmacokinetics and elaborate on IKT-148009's mechanism of action at the Sachs 4th Annual Neuroscience Innovation Forum being held virtually on April 28-30, 2021.

    Dr. Werner will provide a corporate presentation, as well as participate in the Parkinson's & Movement Disorders panel discussion on Wednesday, April 28th, at 1:20 p.m. ET. In addition, Dr. Werner will separately present a corporate overview of Inhibikase.

    About Inhibikase (www.inhibikase.com)

    Inhibikase Therapeutics, Inc. (NASDAQ:IKT) is a clinical-stage pharmaceutical company developing therapeutics for Parkinson's disease and related disorders. Inhibikase's multi-therapeutic pipeline focuses on neurodegeneration and its lead program for IkT-148009, an Abelson Tyrosine Kinase (c-Abl) inhibitor, intends to treat Parkinson's disease inside and outside the brain. Inhibikase is currently performing its Phase I, randomized single ascending dose and multiple ascending dose, study to determine the safety, tolerability and pharmacokinetics of IkT-148009 in older and healthy subjects. The Company is also advancing a novel drug delivery platform to treat certain forms of cancer at the same time as it is developing novel drugs for the treatment of neurodegenerative disease. Inhibikase is headquartered in Atlanta, Georgia with offices in Boston, Massachusetts.

    Social Media Disclaimer

    Investors and others should note that we announce material financial information to our investors using our investor relations website, press releases, SEC filings and public conference calls and webcasts. The company intends to also use Twitter, Facebook, LinkedIn and YouTube as a means of disclosing information about the company, its services and other matters and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Inhibikase's current expectations and assumptions. Such statements are subject to certain risks and uncertainties, which could cause Inhibikase's actual results to differ materially from those anticipated by the forward-looking statements. One such uncertainty is that positive results from early clinical studies of our product candidates are not necessarily predictive of the results of later clinical studies and any current and future clinical trials of our product candidates. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth from time to time in Inhibikase's filings with the SEC, including its annual report on Form 10-K filed on March 31, 2021, including under the caption "Risk Factors." Any forward-looking statement in this release speaks only as of the date of this release. Inhibikase undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

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    SOURCE Inhibikase Therapeutics, Inc.

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