Inhibikase Therapeutics priced an underwritten public offering of 46,091,739 shares of common stock and 22,873,779 pre‑funded warrants, each priced at $1.45 per share and $1.449 per warrant respectively. The transaction is expected to generate approximately $100 million in gross proceeds before underwriting discounts and commissions, with a closing date set for November 24, 2025.
The capital raise will extend Inhibikase’s cash runway by roughly 18 months, providing the liquidity needed to advance its lead program, IKT‑001Pro, into pivotal Phase 3 trials for pulmonary arterial hypertension (PAH). The infusion of funds also signals investor confidence in the company’s strategy and supports future clinical and regulatory milestones.
IKT‑001Pro is a prodrug of imatinib mesylate that has shown an improved safety profile in early studies. A recent FDA‑approved revised study plan allows the company to conduct a single pivotal Phase 3 study, potentially shaving about three years off the timeline to topline data and an NDA filing. The accelerated schedule is a key driver of investor enthusiasm and positions Inhibikase to compete more effectively in the PAH market, which is dominated by symptom‑management therapies.
Prior to this public offering, Inhibikase completed a private placement in October 2024 that raised approximately $110 million, with the potential to reach $275 million if warrants were exercised. The new public offering adds to that capital base, giving the company a stronger balance sheet to support its clinical development pipeline and to meet the capital demands of later‑stage trials.
Investors reacted positively to the announcement, citing the accelerated development timeline for IKT‑001Pro and the substantial capital raise as primary catalysts. The market view reflects confidence that the company can now move its lead candidate closer to regulatory approval and potential commercialization.
The offering is being managed by a syndicate that includes Jefferies, BofA Securities, Cantor, LifeSci Capital, Oppenheimer & Co., H.C. Wainwright & Co., and Ladenburg Thalmann & Co. Inc., and is expected to close on November 24, 2025.
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