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Gain Therapeutics Inc. (GANX-7.94%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The company, which focuses on developing novel small molecule therapeutics, reported no revenue for the year, compared to $55,180 in collaboration revenues in the prior year.
Research and development expenses totaled $10.8 million, a decrease from $11.5 million in the previous year, primarily due to higher recognition of research grant income.
General and administrative expenses decreased to $9.6 million from $10.8 million in the prior year, attributed mainly to lower personnel and stock-based compensation costs.
Gain Therapeutics reported a net loss of $20.4 million for the year, compared to a net loss of $22.3 million in 2023. The decrease in net loss was primarily due to reduced operating expenses.
The company ended the year with $10.4 million in cash and cash equivalents, down from $16.8 million in cash, cash equivalents, and marketable securities at the end of 2023.
Gain Therapeutics continues to focus on the development of its lead product candidate, GT-02287, for the treatment of Parkinson’s disease and other neurodegenerative diseases.
The company anticipates the need for additional funding to support its operations and the development of its product pipeline, and it plans to seek financing through a combination of equity offerings, debt financings, and strategic partnerships.
Gain Therapeutics acknowledges the impact of global macroeconomic conditions, including geopolitical tensions and market volatility, on its ability to secure financing and continue operations.
The company has highlighted its reliance on third-party manufacturers and collaborators for the development and potential commercialization of its product candidates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Gain Therapeutics Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.