Gain Therapeutics Q1 net loss widens to $5.1M; cash $18.8M supports ops into Q3 2024

Gain Therapeutics, Inc.

2023-Q1 EPS reported -$0.43 revenue$55,180

Net loss of $5.1M ($0.43/shr) vs $3.3M ($0.28/shr) YoY; R&D spend rose to $2.8M on pre-IND studies.
Cash and marketable securities $18.8M at March 31, 2023; ATM proceeds in April extend runway into Q3 2024.
Completed GLP toxicology for GT-02287 (GBA1 Parkinson's); Phase 1 application to Australian HREC expected mid-2023.
Secured $2.8M Innosuisse grant for GT-02287 and $1.3M EU consortium grant for AAT program.
Appointed C. Evan Ballantyne as CFO in April 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Gain Therapeutics, Inc. reported first quarter ended March 31, 2023 results: revenue $55,180, net income $5.1 million, EPS $0.43 per share basic and diluted.

Period: first quarter ended March 31, 2023
Revenue: $55,180
Net income: $5.1 million
EPS: $0.43 per share basic and diluted
Result: reported results

Exact text from the filing

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended March 31, 2023 2022 Revenues: Collaboration revenues $ 55,180 $ 37,538 Other income - 7,468 Total revenues 55,180 45,006 Operating expenses: Research and development (2,791,205

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Source: SEC EDGAR

accession 0001558370-23-009508

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