(RTTNews) - Shares of Inhibikase Therapeutics, Inc. (IKT) rose 5% after the company announced it has sold 25 million shares of common stock to RA Capital Management through its at-the-market (ATM) facility, raising $50 million in gross proceeds.
The company stated that the new capital, combined with existing reserves, will fund operations through topline data readout in Part B of its ongoing global Phase 3 IMPROVE-PAH study, pending full exercise of outstanding Series A and B warrants.
The financing was executed under a shelf registration statement declared effective by the SEC in June 2025, with a prospectus supplement filed in December 2025.
Inhibikase's lead candidate, IKT-001, is a prodrug of imatinib mesylate being developed for Pulmonary Arterial Hypertension (PAH), a progressive and life-threatening disease affecting about 50,000 Americans. The pivotal Phase 3 IMPROVE-PAH trial is enrolling patients across roughly 180 sites worldwide.
IKT has traded between $1.33 and $2.35 over the past year. The stock closed Tuesday's trading at $2.06, up 5.10%. During after-hours trading session, the stock is at $2.04, down 0.97%.
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