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Inhibikase Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no grant revenue compared to $79,569 in the same quarter the previous year. The company reported a net loss of $5,778,066, compared to $4,595,199 in the previous year.
Research and development expenses increased to $4,189,873 from $3,225,551, largely due to increased expenses in the Pulmonary Arterial Hypertension (PAH) program.
Selling, general, and administrative expenses were $1,637,603, slightly up from $1,622,894 in the previous year.
Interest income decreased to $49,410 from $173,677, driven by reduced interest earned on U.S. Treasuries and money market instruments.
As of September 30, 2024, Inhibikase Therapeutics had cash and cash equivalents of $913,420 and marketable securities of $2,330,226.
The company announced a private placement in October 2024, raising approximately $110 million, with potential aggregate financing of up to $275 million upon full cash exercise of the warrants issued.
Inhibikase continues to focus on its pipeline, including IkT-001Pro for PAH, which has completed bioequivalence studies, and risvodetinib for Parkinson’s disease, with a Phase 2 trial completed.
The company entered a settlement agreement with Pivot Holding LLC, agreeing to pay $500,000 for milestone payments under a collaboration agreement.
Inhibikase does not anticipate cash dividend payments to common stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Inhibikase Therapeutics Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.