Leap Therapeutics, Inc. (NASDAQ: LPTX) announced on October 6, 2025 that it has secured $58,888,888 in cash commitments through a private investment in public equity (PIPE) offering led by Winklevoss Capital. The transaction involves the sale of 95,849,353 shares of common stock (or pre‑funded warrants) and warrants to purchase an additional 71,887,008 shares at an exercise price of $0.5335 per share, with an aggregate exercise price per unit of $0.61439.
The PIPE will provide Leap with the capital to continue development of its lead antibody programs, sirexatamab (DKN‑01) and FL‑501, and to support a newly initiated digital asset treasury strategy. As part of the deal, Leap will expand its board to 12 members, and Winklevoss Capital will nominate two directors, one of whom will serve as board chair. The closing of the private placement is expected on or about October 8, 2025, subject to customary closing conditions.
This financing represents a significant capital infusion for Leap, which had previously faced a “going concern” warning and a severely limited cash position. By securing nearly $59 million in equity, Leap aims to extend its runway, maintain its clinical pipeline, and pursue its digital asset strategy, thereby addressing immediate liquidity needs and positioning the company for future strategic options.
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