Leap Therapeutics raises $40M in private placement to fund DKN-01 clinical trials

CYPHERPUNK TECHNOLOGIES INC.

Gross proceeds ~$40M from sale of 12.66M shares at $2.82 and pre-funded warrants for 1.52M shares at $2.819.
Financing expected to close April 15, 2024; investors include Gilead Sciences and other institutional investors.
Proceeds to expand DeFianCe colorectal cancer study from 130 to 180 patients and advance DisTinGuish gastric cancer study.
Cash runway extended into Q2 2026; funds also used for Phase 3 readiness manufacturing and working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CYPHERPUNK TECHNOLOGIES INC. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $40 million (effective 2024-04-10).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $40 million
Effective: 2024-04-10

Exact text from the filing

On April 10, 2024, Leap Therapeutics, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with certain institutional investors (collectively, the “Purchasers,” and each, a “Purchaser”) providing for a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company expects to issue and sell to the Purchasers an aggregate of (a) 12,660,993 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a purchase price per Share equal to $2.82, and (b) pre-funded warrants, in the form attached to the Securities Purchase Agreement as Exhibit B (the “Pre-Funded Warrants”), to purchase 1,523,404 shares of Common Stock (such shares of Common Stock issuable upon exercise of the Pre-Funded Warrants, the “Warrant Shares”), at a purchase price per Pre-Funded Warrant equal to (i) $2.819 (which is equal to the price

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Source: SEC EDGAR

accession 0001104659-24-046108

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