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Inhibikase Therapeutics, Inc. (IKT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Inhibikase Therapeutics, Inc.

CIK: 1750149 Ticker: IKT

Exhibit 99.1

 

LOGO

Inhibikase Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Highlights Recent Period Activity

ATLANTA, April 1, 2021— Inhibikase Therapeutics, Inc. (Nasdaq: IKT), a clinical-stage pharmaceutical company developing therapeutics to modify the course of Parkinson’s disease (PD) and related disorders inside and outside of the brain, today reported financial results for the fourth quarter and full year ended December 31, 2020 and highlighted recent developments.

Key Business and Clinical Highlights

 

   

Completed Initial Public Offering: In December 2020, Inhibikase successfully completed its initial public offering (IPO) of 1,800,000 shares of common stock at a public offering price of $10.00 per share. The Company received aggregate net proceeds of approximately $14.60 million after deducting offering costs, underwriting discounts and commissions.

 

   

Commenced Dosing of Patients in Phase 1 Study of IkT-148009 for the treatment of PD and associated GI Disorders: In February 2021, Inhibikase commenced patient dosing in older and elderly healthy volunteers in a Phase 1 randomized single ascending dose and multiple ascending dose study to determine the safety, tolerability and pharmacokinetics of IkT-148009. IkT-148009 is a novel brain penetrant Abelson tyrosine kinase, or c-Abl, inhibitor intended to be used to modify Parkinson’s disease and its gastrointestinal complications.

 

   

Accelerated timelines for completion of the Phase 1 trial and initiation of dosing in PD patients. Early data from this study have led to a reduction in the timelines for completion of the study by 6 or more months, providing the opportunity to obtain regulatory approval to commence dosing of PD patients much earlier than previously anticipated.

 

   

Commenced chronic toxicology studies of IkT-148009 to permit long-term dosing in patients. In January, 2021 Inhibikase commenced 3 month and 6 month long-term toxicology studies of IkT-148009 in rats and 3 month and 9 month long-term toxicology studies of IkT-148009 in monkeys as required to obtain regulatory approval for chronic administration of IkT-148009 in patients. These studies are expected to be completed in the fourth quarter of 2021.

 

   

Commenced clinical batch manufacturing and pill formulation of IkT-001Pro in preparation for an Investigational New Drug application filing in the second quarter of 2021. In February, 2021 Inhibikase commenced clinical batch manufacturing and final product formulation of IkT-001Pro as a film-coated tablet in preparation for regulatory filing with the Food and Drug Administration to initiate clinical development. This regulatory filing is anticipated to be completed near the end of the second quarter of 2021, with initiation of clinical development 30 days after the filing, subject to FDA agreement and issuance of a Study May Proceed notification.

“2020 was a transformative year for Inhibikase, as we successfully completed our IPO and worked diligently to advance our novel programs to treat neurodegenerative diseases towards the clinic,” commented Milton Werner, Ph.D., President and Chief Executive Officer of Inhibikase. “Just recently, we were pleased to announce the advancement of our lead candidate, IkT-148009, into a Phase 1 dose escalation study to

 

Inhibikase Therapeutics, Inc.       Page 1 of 6

3350 Riverwood Parkway, Suite 1900

     

Atlanta, GA 30339

   www.inhibikase.com   


The following information was filed by Inhibikase Therapeutics, Inc. (IKT) on Thursday, April 1, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Inhibikase Therapeutics, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Condensed Statements Of Cash Flows
Condensed Statements Of Operations
Condensed Statements Of Stockholders' Equity (Deficit)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies - Additional Information (Detail)
Commitments And Contingencies
Income Taxes
Income Taxes - Additional Information (Details)
Liquidity And Going Concern
Liquidity And Going Concern - Additional Information (Details)
Nature Of Business
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Summary Of Calculation Of Basic And Diluted Net Loss Per Share Applicable To Common Stockholders (Details)
Net Loss Per Share - Summary Of Shares Excluded From Calculation Of Diluted Net Loss Per Share Applicable To Common Stockholders (Details)
Notes Payable
Notes Payable (Tables)
Notes Payable - Additional Information (Details)
Notes Payable - Summary Of Future Principal Payments On Notes Payable (Details)
Notes Payable - Summary Of Notes Payable Outstanding (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Stock-Based Compensation Expense For Stock Options Granted To Employees And Non-Employees (Detail)
Stockholders' Deficit
Stockholders' Deficit - Additional Information (Details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Tables)
Supplemental Balance Sheet Information - Schedule Of Accrued Expenses And Other Current Liabilities (Detail)
Warrants
Warrants - Additional Information (Details)

Material Contracts, Statements, Certifications & more

Inhibikase Therapeutics, Inc. provided additional information to their SEC Filing as exhibits

Ticker: IKT
CIK: 1750149
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-21-044637
Submitted to the SEC: Mon Aug 16 2021 4:16:02 PM EST
Accepted by the SEC: Mon Aug 16 2021
Period: Wednesday, June 30, 2021
Industry: Biological Products No Disgnostic Substances

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