Gain Therapeutics, Inc. ( (GANX) ) has released its Q4 earnings. Here is a breakdown of the information Gain Therapeutics, Inc. presented to its investors.
Gain Therapeutics, Inc. is a clinical-stage biotechnology company pioneering the development of next-generation allosteric small molecule therapies, with a primary focus on treating neurodegenerative diseases such as Parkinson’s disease. The company has recently reported its financial results for the fourth quarter and year-end 2024, highlighting significant progress in its lead drug candidate, GT-02287, which is currently in clinical trials for Parkinson’s disease.
In 2024, Gain Therapeutics made notable advancements in the clinical development of GT-02287, including the initiation of a Phase 1b trial and the presentation of promising preclinical and clinical data. The company also appointed Gene Mack as President and CEO and formed a Clinical Advisory Board to support the late-stage development of GT-02287. Financially, the company reported a decrease in research and development expenses and general and administrative expenses, resulting in a reduced net loss compared to the previous year.
Key financial metrics for 2024 include a net loss of $20.4 million, or $0.89 per share, compared to a net loss of $22.3 million, or $1.71 per share, in 2023. The company’s cash, cash equivalents, and marketable securities totaled $10.4 million at the end of 2024, down from $16.8 million at the end of 2023. The decrease in expenses was primarily due to higher recognition of research grant income and lower personnel and stock-based compensation costs.
Looking ahead, Gain Therapeutics is focused on achieving several milestones in 2025, including the first analysis from the Phase 1b trial of GT-02287 expected in the second quarter and an IND submission to the FDA by year-end. The company remains committed to advancing its clinical programs and expanding the development of GT-02287 in the U.S., with ongoing discussions with the FDA.