VIENNA - Gain Therapeutics, Inc. (NASDAQ: GANX), a clinical-stage biotechnology company, revealed findings from a study presented at the Federation of European Neuroscience Societies (FENS) Forum 2024, indicating potential benefits of its lead drug candidate GT-02287 in a mouse model of GBA1-Parkinson's disease. The study, showcased in Vienna, Austria, demonstrated improvement in cognitive performance and daily living activities associated with GT-02287.
Dr. Joanne Taylor, Senior Vice President of Research at Gain Therapeutics, expressed optimism about the drug's ability to address the progression of Parkinson’s disease, particularly in patients experiencing cognitive decline. The company is currently completing a Phase 1 clinical study with the expectation of advancing the evaluation of GT-02287 in patients.
The poster presented on-site by Dr. Beatriz Calvo-Flores Guzman, titled "GT-02287, a Clinical-Stage GCase Enhancer, Improves Activities of Daily Living and Cognitive Performance in a Preclinical Model of GBA1 Parkinson’s disease," detailed the drug's impact on nest-building and motor performance in mice. Nest building is a behavior in rodents analogous to tasks of daily living and cognitive performance in humans. The study also reported relevant biomarker changes, including reduced plasma neurofilament light chain (NfL) levels, a marker for neurodegeneration.
GT-02287 is an orally administered, brain-penetrant small molecule designed to restore the function of the lysosomal protein enzyme glucocerebrosidase (GCase), which is impaired due to a GBA1 gene mutation commonly associated with Parkinson's disease (PD). In preclinical models, the drug has shown promise in restoring GCase enzymatic function, reducing aggregated alpha-synuclein, neuroinflammation, and neuronal death, while improving motor function and cognitive performance.
FENS, representing over 22,000 scientists, facilitates exchanges and networking within the neuroscience community. Gain Therapeutics' presentation at the forum underscores its commitment to addressing GBA1 Parkinson’s disease through its differentiated approach.
Gain Therapeutics' drug discovery platform, Magellan™, uses AI-supported structural biology and proprietary algorithms to identify novel allosteric binding sites on disease-implicated proteins. The company's efforts focus on developing treatments for neurodegenerative diseases, rare genetic disorders, and oncology.
This news is based on a press release statement from Gain Therapeutics, Inc. The company's forward-looking statements are subject to risks and uncertainties, and there is no guarantee that GT-02287 will prove effective in human trials or receive regulatory approval. Investors are cautioned that actual results may differ materially from those projected.
In other recent news, Gain Therapeutics has announced its intention to offer and sell shares of its common stock in a public offering, with Titan Partners Group acting as the sole bookrunner. This move comes as the company continues to advance its lead product candidate, GT-02287, targeting GBA1 Parkinson’s disease. In addition to this, Gain Therapeutics has reported significant advancements in its Parkinson's disease research, with GT-02287 demonstrating improvements in cognitive performance in a preclinical study.
The company has also released positive results from its Phase 1 clinical trial for GT-02287, which was well tolerated at all dose levels. This trial supports the continuation of GT-02287's development, with the completion of the multiple ascending dose portion anticipated in 2024.
In terms of corporate changes, Gain Therapeutics has recently welcomed Gene Mack as its new Chief Financial Officer and appointed Jonas Hannestad, M.D., Ph.D., as its Chief Medical Officer. Both bring extensive experience in their respective fields. These are the latest developments in Gain Therapeutics' ongoing efforts to advance its research and development of therapies for challenging diseases.
InvestingPro Insights
As Gain Therapeutics, Inc. (NASDAQ: GANX) continues to make strides in the biotechnology sphere with its promising drug candidate GT-02287, investors and industry observers are closely monitoring the company's financial and market performance. According to recent data, GANX holds a market capitalization of $23.47 million, reflecting the current market's valuation of the company's potential and existing assets.
Despite the positive news from the FENS Forum 2024, InvestingPro data presents a challenging financial picture for Gain Therapeutics. The company's P/E ratio, as of the last twelve months leading up to Q1 2024, stands at -1.08, indicating that the company is not currently profitable. This is further corroborated by a significant revenue decline over the same period, with a -100% change, and an operating loss of $21.41 million.
InvestingPro Tips suggest that while analysts anticipate sales growth in the current year, they do not expect the company to achieve profitability within the year. Moreover, the company's stock has been identified as being in the oversold territory according to the Relative Strength Index (RSI), and it is currently trading near its 52-week low. This could potentially signal a buying opportunity for investors who believe in the company's long-term prospects, especially considering that Gain Therapeutics holds more cash than debt, providing a degree of financial flexibility.
For those interested in a deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/GANX. And for a limited time, investors can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights into Gain Therapeutics and other investment opportunities.
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