Leap Therapeutics, Inc. announced that it expects to receive $39.998476 million in funding from Samsara BioCapital LLC, 683 Capital Management, LLC, Rock Springs Capital Management LP, Gilead Sciences, Inc., Laurion Capital Management LP
April 09, 2024
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Leap Therapeutics, Inc. announced it has entered into a Securities Purchase Agreement with certain institutional investors to issue 12,660,993 shares at a issue price of $2.82 for gross proceeds of $35,704,000.26 and pre-funded warrants to purchase 1,523,404 shares of Common Stock at a price of $2.819 per share of Common Stock issuable upon exercise of the pre-funded warrants for gross proceeds of $4,295,999.74, resulting aggregate gross proceeds of $40,000,000 on April 10, 2024. The transaction included participation from existing investor Samsara BioCapital LLC and new investors Gilead Sciences, Inc., 683 Capital Partners, LP, Laurion Capital Management, and Rock Springs Capital. The transaction is expected to close on April 15, 2024, subject to satisfaction of customary closing conditions.
Leap Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on developing targeted and immuno-oncology therapeutics. Its advanced clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-related protein 1 (DKK1) protein. DKK1 is also a modulator of CKAP4/PI3K/AKT signaling. DKN-01 is being developed in patients with esophagogastric, gynecologic, and colorectal cancers. Its second clinical-stage program is FL-301, a humanized monoclonal antibody targeting Claudin18.2, being developed in patients with gastric and pancreatic cancer. It also has two preclinical antibody programs, FL-302 and FL-501. FL-302 is a Claudin18.2/CD137 (also known as 4-1BB) bispecific antibody that is in preclinical development. FL-501 is a monoclonal antibody in preclinical development that targets growth and differentiation factor 15 (GDF15), which is a cytokine that is produced at elevated levels in response to various stresses.
Leap Therapeutics, Inc. announced that it expects to receive $39.998476 million in funding from Samsara BioCapital LLC, 683 Capital Management, LLC, Rock Springs Capital Management LP, Gilead Sciences, Inc., Laurion Capital Management LP