Inhibikase Therapeutics, Inc.

For the quarter ended June 30, 2024, Inhibikase reported a net loss of $5.0 million, or $0.66 per share, versus a net loss of $5.8 million, or $0.94 per share in Q2 2023. Research and development expense was $3.1 million, down from $4.5 million, while selling, general and administrative expense was $2.0 million, up from $1.8 million. As of June 30, 2024, cash, cash equivalents and marketable securities totaled $7.9 million. Management said the $4 million gross proceeds raised in May extend the cash runway into December 2024 and should be sufficient to get the company through top-line data from the risvodetinib 201 trial in Parkinson's disease.

Dr. Werner emphasized that the first half of 2024 was marked by strong clinical execution, highlighting completed enrollment in the risvodetinib Phase 2 201 trial and the filing of the IND for IkT-001Pro in PAH. His tone was upbeat and confident about both programs, saying the back half of 2024 should bring catalysts for each. He also stressed that the company believes risvodetinib could be disease-modifying in untreated Parkinson's and that IkT-001Pro could offer improved tolerability versus imatinib, while noting financing will be important for the PAH program.

Garth Lees-Rolfe framed the quarter around capital discipline and said the company raised $4 million in aggregate gross proceeds in May through a registered direct offering and concurrent private placement. He said those funds extend runway into December 2024, with cash, cash equivalents and marketable securities at $7.9 million on June 30. He also broke down the quarter, with R&D down $1.5 million year over year mainly from lower IkT-001Pro spending after completion of the dose-finding study, and SG&A up $0.2 million largely from legal and consulting fees.

Analysts focused heavily on risvodetinib timing and design, asking about the gap between Phase 2 completion and the open-label extension, the expected Phase 3 structure, and what would constitute a convincing November readout. Management said some patients have already had a lag before the extension, that symptomatic treatment use is being tracked, and that the OLE should launch in the coming couple of months once site communication is completed. On Phase 3, Werner said the company expects two global trials, roughly 300 to 400 total patients, with up to 12 months of dosing, and that November data plus biomarker work could support moving directly into Phase 3. Questions on IkT-001Pro centered on IND clearance, trial startup timing, and gating factors; management said the planned Phase 2b is roughly 100 patients, placebo-controlled, and likely takes 9 to 12 months to gear up, with capital being the biggest constraint.