Gain Therapeutics (NASDAQ: GANX) shares are down 6.47% in day trading, currently priced at $1.59, following a previous close of $1.70. During Wednesday’s regular session, the stock traded steadily at $1.59 with a volume of 813,700 shares.
The company announced an underwritten public offering of 4,501,640 common stock shares priced at $3.11 per set, which includes two shares and one warrant. This translates to an effective price of $1.55 per share and $0.01 per warrant. The offering is expected to raise approximately $7 million and is set to close around July 17, 2025.
Proceeds will be used to advance clinical and nonclinical development of its lead candidate GT-02287 for treating neurodegenerative diseases such as GBA1 Parkinson’s disease, along with general corporate purposes.
