Domo signs strategic collaboration agreement with AWS for AI solutions
Investing.com - BTIG has lowered its price target on Gain Therapeutics (NASDAQ:GANX) to $9.00 from $10.00 while maintaining a Buy rating as the company progresses through clinical trials. With analyst targets ranging from $5 to $12 and a market capitalization of $68 million, InvestingPro data shows the stock currently trading above its Fair Value.
The company has enrolled 16 patients and plans to release cerebrospinal fluid (CSF) data on key biomarkers including alpha-Syn and Nf-L in the fourth quarter of this year. Patient genotyping is ongoing, with expectations that some GCase-deficient patients will be included in the data set. InvestingPro analysis indicates the company holds more cash than debt, though it’s quickly burning through available funds.
Gain Therapeutics has generated toxicity data allowing for extended patient dosing of up to 9 months and expects to enroll consenting patients into this longer treatment arm. Previous healthy volunteer studies showed increased GCase expression levels by 14 days, with increases of approximately 50%.
The company will measure several biomarkers, including sphingolipids, alpha-synuclein levels, and ER stress biomarkers such as IRE1 and BiP. According to BTIG, CSF data is what potential partners are most interested in, with focus on how much of the drug can safely reach the cerebrospinal fluid.
The 90-day safety readout also represents an important milestone for the company’s GT-02287 treatment, which has already demonstrated the ability to increase GCase activity in the lysosome. The stock has shown strong momentum with an 11.3% return over the past week, though investors should note that InvestingPro identifies several additional risk factors in its comprehensive research report, available to subscribers.
In other recent news, Gain Therapeutics announced plans for an underwritten public offering of common stock and warrants to purchase common stock. The proceeds from this offering are intended to support the development of its lead product candidate, GT-02287, aimed at treating neurodegenerative diseases such as GBA1 Parkinson’s disease. In a positive development, Gain Therapeutics reported accelerated enrollment in its Phase 1b clinical study of GT-02287, reaching 16 participants by the end of June, which is ahead of its original timeline. This faster enrollment allows for earlier biomarker analysis, now expected by the fourth quarter of 2025. Additionally, Gain Therapeutics has increased its authorized common shares to 100 million, following a stockholder vote and amendment to its certificate of incorporation. This change was approved during the company’s annual meeting, where eight directors were also elected to serve one-year terms. These developments reflect Gain Therapeutics’ ongoing efforts to advance its clinical programs and corporate initiatives.
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