(760) 846-9256
GAIN THERAPEUTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended Nine Months Ended September
September 30, 30,
-------------------------- ------------------------------
2024 2023 2024 2023
------------ ------------ ------------- ---------------
Revenues:
Collaboration
revenues $ -- $ -- $ -- $ 55,180
Other income -- -- -- --
---------- ---------- ----------- -----------
Total revenues $ -- $ -- $ -- $ 55,180
---------- ---------- ----------- -----------
Operating
expenses:
Research and
development (2,621,722) (2,367,482) (9,566,259) (9,146,630)
General and
administrative (1,837,242) (2,517,523) (7,453,229) (8,754,453)
---------- ---------- ----------- -----------
Total operating
expenses (4,458,964) (4,885,005) (17,019,488) (17,901,083)
---------- ---------- ----------- -----------
Loss from
operations $(4,458,964) $(4,885,005) $(17,019,488) $(17,845,903)
---------- ---------- ----------- -----------
Other
income/(expense):
Interest income,
net 105,405 106,000 305,239 387,964
Foreign exchange
gain/(loss),
net (121,139) 82,198 103,362 (20,839)
---------- ---------- ----------- -----------
Loss before income
tax $(4,474,698) $(4,696,807) $(16,610,887) $(17,478,778)
---------- ---------- ----------- -----------
Income tax (10,994) (21,456) (32,077) (64,773)
Net loss $(4,485,692) $(4,718,263) $(16,642,964) $(17,543,551)
========== ========== =========== ===========
Net loss per
shares:
Net loss per share
attributable to
common
stockholders -
basic and diluted $ (0.17) $ (0.37) $ (0.78) $ (1.42)
Weighted average
common shares -
basic and diluted 26,531,747 12,701,401 21,273,422 12,342,031
GAIN THERAPEUTICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
September 30, December 31,
2024 2023
------------- ---------------
Assets
Current assets:
Cash and cash equivalents $ 12,049,522 $ 11,794,949
Marketable securities - current -- 4,999,704
Tax credits 373,726 242,577
Prepaid expenses and other current
assets 1,318,092 741,638
----------- -----------
Total current assets $ 13,741,340 $ 17,778,868
----------- -----------
Non-current assets:
Property and equipment, net $ 119,610 $ 125,962
Internal-use software 156,256 193,375
Operating lease - right of use
assets 281,578 459,215
Restricted cash 33,873 34,021
Long-term deposits and other
non-current assets 33,007 17,890
----------- -----------
Total non-current assets 624,324 830,463
----------- -----------
Total assets $ 14,365,664 $ 18,609,331
----------- -----------
Liabilities and stockholders'
equity
Current liabilities:
Accounts payable $ 1,098,453 $ 1,318,965
Operating lease liability -
current 178,781 229,693
Other current liabilities 2,491,254 2,160,366
Deferred income - current 708,027 1,122,138
Loans - current 118,280 118,797
----------- -----------
Total current liabilities $ 4,594,795 $ 4,949,959
----------- -----------
Non-current liabilities:
Defined benefit pension plan $ 323,266 $ 307,454
Operating lease liability -
non-current 96,222 229,855
Deferred income - non-current 65,869 94,786
Loans - non-current 376,130 449,053
----------- -----------
Total non-current liabilities 861,487 1,081,148
----------- -----------
Total liabilities $ 5,456,282 $ 6,031,107
----------- -----------
Stockholders' equity
Preferred stock, $0.0001 par
value; 10,000,000 shares
authorized; nil shares issued and
outstanding as of September 30,
2024 and December 31, 2023. -- --
Common stock, $0.0001 par value:
50,000,000 shares authorized;
25,962,246 issued and outstanding
as of September 30, 2024;
16,206,680 issued and outstanding
as of December 31, 2023. 2,596 1,621
Additional paid-in capital 86,090,657 73,113,079
Accumulated other comprehensive
income 242,810 247,241
Accumulated deficit (60,783,717) (38,516,197)
Loss for the period (16,642,964) (22,267,520)
----------- -----------
Total stockholders' equity 8,909,382 12,578,224
----------- -----------
Total liabilities and stockholders'
equity $ 14,365,664 $ 18,609,331
=========== ===========
(END) Dow Jones Newswires
November 14, 2024 16:05 ET (21:05 GMT)