Gain Therapeutics, Inc.

Listed Company

GANXCIK 0001819411NasdaqEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-20.16M

Total Assets

$22.82M

Equity

$18.56M

Shares Out

42.24M

Op. Cash Flow

$-18.47M

Business

Gain Therapeutics, Inc. is a biotechnology company developing novel small-molecule therapeutics that target protein misfolding across CNS disorders, lysosomal storage disorders, metabolic diseases and oncology. Its main offerings include STAR (structurally targeted allosteric regulator) small molecules, with clinical-stage lead candidate GT-02287 for Parkinson’s disease and discovery-stage programs for GCase-related diseases and other targets. The company operates a computational Magellan™ platform for allosteric site identification and drug discovery and advances programs through internal development, research collaborations, licensing and co-development arrangements. It conducts preclinical and clinical studies globally (including Australia) and pursues international regulatory and partner channels for development and commercialization.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	−10	−11	−12	−8	−7
General and administrative	−8	−10	−11	−10	−7
Total operating expenses	−19	−20	−22	−18	−14
Loss from operations	−19	−20	−22	−18	−14
Interest income, net	244,394	357,096	494,234	—	—
Foreign exchange (loss) gain, net	−833,673	119,120	−429,346	−96,074	−72,920
Loss before income tax	−19	−20	−22	−17	−14
Income tax	−861,118	−536,815	−79,275	−92,976	−4,008
Net loss	−20	−20	−22	−18	−14
Net loss per share attributable to common stockholders - basic	−0.61	−0.89	−1.71	−1.48	−1.37
Net loss per share attributable to common stockholders - diluted	−0.61	−0.89	−1.71	−1.48	−1.37
Weighted average common stock - basic	33	23	13	12	10
Weighted average common stock - diluted	33	23	13	12	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	21	10	12	7	37
Tax credits	179,701	271,079	242,577	103,877	113,586
Prepaid expenses and other current assets	1	945,536	741,638	848,854	727,785
Total current assets	22	12	18	21	38
Property and equipment, net	74,916	103,619	125,962	144,379	105,986
Internal-use software, net	102,837	134,268	193,375	213,967	202,609
Operating lease right-of-use assets	334,090	219,715	459,215	659,933	901,042
Restricted cash	36,296	31,695	34,021	30,818	31,279
Long-term deposits and other noncurrent assets	33,698	32,109	17,890	17,506	22,111
Total noncurrent assets	581,837	521,406	830,463	3	1
Total assets	23	12	19	24	39
Accounts payable	800,000	900,000	1	2	560,479
Operating lease liabilities - current	119,876	160,913	229,693	229,080	219,137
Other current liabilities	2	2	2	2	1
Deferred grant income - current	—	252,211	1	55,180	266,504
Loans - current	100,869	110,177	118,797	108,135	103,826
Total current liabilities	3	4	5	4	3
Defined benefit pension plan	390,509	443,623	307,454	157,580	329,458
Operating lease liabilities - noncurrent	211,238	53,598	229,855	441,784	695,053
Deferred grant income - noncurrent	—	47,441	94,786	—	—
Loans - noncurrent	300,084	328,327	449,053	495,258	590,468
Total noncurrent liabilities	901,831	872,989	1	1	2
Total liabilities	4	5	6	5	4
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; nil shares issued and outstanding as of December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.0001 par value: 100,000,000 shares authorized; 42,073,807 and 27,132,588 shares issued and outstanding as of December 31, 2025 and 2024, respectively	4,209	2,713	1,621	1,189	1,189
Additional paid-in capital	119	89	73	57	56
Accumulated other comprehensive income (loss)	776,869	−247,549	247,241	35,627	−90,645
Accumulated deficit	−81	−61	−39	−21	−7
Loss of the period	−20	−20	−22	−18	−14
Total stockholders' equity	19	7	13	19	35
Total liabilities and stockholders' equity	23	12	19	24	39

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−20	−20	−22	−18	−14
Depreciation and amortization	94,046	84,071	83,579	64,168	15,484
Stock-based compensation expense	2	2	3	2	839,371
Other non-cash items	804,938	143,523	−383,188	−206,861	—
Prepaid expenses and other current assets	−82,119	−356,650	54,378	−114,005	−534,502
Long term deposit and other noncurrent assets	2,852	−21,000	−10,057	−2,901	33,979
Accounts payable and other current liabilities	−468,606	274,889	−693,698	—	—
Defined benefit pension plan	−130,568	−122,915	6,313	—	—
Deferred grant income	−328,071	−854,713	1	−208,343	34,701
Total changes in operating assets and liabilities	−1	−1	442,230	2	−329,784
Cash used in operating activities	−18	−19	−19	−15	−12
Purchase of property and equipment and internal-use software	—	−22,493	−15,358	−118,953	−94,212
Maturities of marketable securities	—	5	12	—	—
Cash provided by investing activities	—	5	10	−15	−94,212
Net proceeds from issuance of shares in 2024 ATM Program (Note 14)	18	3	4	—	—
Net proceeds from issuance of shares in public offering (Note 14)	7	10	9	—	—
Net proceeds from the exercise of warrants (Note 14)	3	113,800	—	—	—
Net proceeds from the exercise of stock options (Note 15)	250,260	57,711	—	—	12,216
Payments of offering costs (Note 14)	−395,478	−280,867	—	—	−853,488
Payments of current portion of long-term debt (Note 12)	−96,501	−90,879	−89,067	−78,774	−21,951
Cash provided by financing activities	28	13	13	−78,774	42
Effect of exchange rate changes	474,032	−527,168	488,404	−23,797	100,778
Net increase (decrease) in cash, cash equivalents and restricted cash	10	−1	4	−30	29
Income taxes paid	47,549	86,309	134,962	2,740	4,469

Filings

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