The stock hit $2.19 late Tuesday morning, extending a rally that has seen the company’s valuation climb 29% over the last three months. This influx of cash serves a specific strategic purpose: funding the company through the upcoming topline data readout for Part B of its global Phase 3 study on pulmonary arterial hypertension. Management indicated that these resources, combined with current cash reserves, provide the necessary runway for the trial, provided that outstanding Series A and B warrants are fully exercised.
In section Market Quotes
Inhibikase Therapeutics Secures $50 Million in Share Sale
A 12% jump in Inhibikase Therapeutics stock followed the company’s announcement of a $50 million capital infusion. By offloading 25 million common shares to RA Capital Management through an at-the-market program, the biotech firm has bolstered its balance sheet ahead of critical clinical milestones.
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