Inhibikase Therapeutics, Inc. IKT
We are a clinical-stage pharmaceutical company developing therapeutics to modify the course of cardiopulmonary diseases, namely, Pulmonary Arterial Hypertension ("PAH"), in which aberrant signaling through type III receptor tyrosine kinases, including platelet derived growth factor receptors and a stem cell factor receptor, known as "c-Kit", has been implicated. Our lead product candidate is IKT-001, a prodrug of imatinib mesylate ("imatinib"), for PAH which is an orphan indication. Imatinib was first approved in the United States in 2001 for various cancers and blood disorders and, following more than 20 years of clinical use, has a well-characterized safety profile with the first reported use of imatinib in PAH occurring in 2005. PAH is a progressive, life-threatening disease characterized by pulmonary vascular remodeling and elevated pulmonary vascular resistance that affects approximately 50,000 Americans. We have completed a non-human primate safety study and a bioequivalence clinical study in healthy volunteers to determine the doses of IKT-001 that are equivalent to imatinib. Our Phase 3 clinical study, named IMPROVE-PAH (IKT-001 for Measuring Pulmonary Vascular Resistance and Outcome Variables in a Phase 3 Evaluation of PAH), has been initiated with the activation of a small number of sites and the recent commencement of patient pre-screening activities at those sites.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $260.5K | $123.4K | $3.1M | $698.5K | — |
| R&D | $29.8M | $17.2M | $13.6M | $12.0M | $11.4M | $893.8K | — |
| SG&A | $23.6M | $11.4M | $6.7M | $6.2M | $6.5M | $2.6M | — |
| Total operating expenses | $52.0M | $28.6M | $20.4M | $18.3M | $17.9M | $3.5M | — |
| Operating income | -$52.0M | -$28.6M | -$20.1M | -$18.1M | -$14.8M | -$2.8M | — |
| Interest expense | $3.7M | $1.1M | $1.1M | $74.5K | $19.9K | $29.4K | — |
| Pre-tax income | -$48.3K | -$27.5K | — | — | — | — | — |
| Income tax | $0 | $0 | — | — | — | — | — |
| Net income | -$48.3M | -$27.5M | -$19.0M | -$18.1M | -$14.8M | -$2.8M | — |
| EPS, basic | -0.49 | -1.16 | -3.16 | -4.28 | -0.81 | — | — |
| EPS, diluted | -0.49 | -1.16 | -3.16 | -4.28 | -0.81 | -0.35 | — |
| Shares, diluted (wtd. avg.) | $98.3M | $23.7M | $6.0M | $4.2M | $18.2M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $178.8M | $97.5M | $9.2M | $7.2M | $40.8M | $14.0M | $18.5K |
| Short-term investments | $39.5M | $41.1M | $4.1M | $15.9M | $0 | — | — |
| Total current assets | $180.1M | $98.5M | $14.2M | $24.4M | $42.5M | — | — |
| Property, plant and equipment | $0 | $47.1K | $73.4K | $236.5K | $0 | — | — |
| Total assets | $181.2M | $98.6M | $14.5M | $24.9M | $42.5M | $14.8M | — |
| Accounts payable | $1.2M | $943.0K | $646.8K | $1.2M | $1.1M | $1.7M | — |
| Total current liabilities | $8.3M | $3.7M | $3.4M | $3.7M | $4.1M | $4.7M | — |
| Long-term debt | — | — | $381.8K | — | $248.9K | — | — |
| Total liabilities | $8.3M | $3.7M | $3.5M | $3.9M | $4.1M | $5.0M | — |
| Retained earnings | -$142.7M | -$94.4M | -$66.9M | -$47.9M | -$29.8M | $15.0M | — |
| Total equity | $172.9M | $94.9M | $11.0M | $21.0M | $38.4M | $9.8M | -$4.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$27.8M | -$19.1M | -$18.1M | -$17.4M | -$14.3M | -$1.1M | — |
| Depreciation and amortisation | $60.5K | $26.3K | $177.4K | $6.7K | $0 | — | — |
| Stock-based compensation | $15.3M | $8.1M | $500.1K | $458.1K | $1.5M | $573.7K | — |
| Capital expenditure | $13.4K | $0 | $14.2K | $243.3K | $0 | — | — |
| Investing cash flow | $2.1M | -$37.0M | $11.7M | -$16.0M | $0 | — | — |
| Financing cash flow | $108.5M | $103.5M | $8.4M | -$204.8K | $41.1M | $15.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197177.
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