Inhibikase Therapeutics Announces CMO Departure, Interim Appointment

TL;DR

CMO out, interim CMO in at Inhibikase. More to come on other deals.

AI Summary

On October 9, 2024, Inhibikase Therapeutics, Inc. announced the departure of Dr. Jonathan P. S. Walsh as Chief Medical Officer and the appointment of Dr. Michael J. O'Neill as interim Chief Medical Officer. The company also reported on unregistered sales of equity securities and entered into a material definitive agreement, details of which are pending further disclosure.

Why It Matters

Changes in key executive positions can signal shifts in company strategy or operational focus, potentially impacting future development and financial performance.

Risk Assessment

Risk Level: medium — Executive departures and undisclosed material agreements introduce uncertainty regarding the company's leadership and strategic direction.

Key Players & Entities

• Inhibikase Therapeutics, Inc. (company) — Registrant
• Dr. Jonathan P. S. Walsh (person) — Departing Chief Medical Officer
• Dr. Michael J. O'Neill (person) — Appointed interim Chief Medical Officer
• October 9, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value IKT The Nasdaq Stock Mark
• $1.37 — t is being sold at an offering price of $1.37 and each Pre-Funded Warrant and accompa
• $1.369 — t is being sold at an offering price of $1.369 (equal to the purchase price per Share
• $1.49 — es B-1 Warrant has an exercise price of $1.49 per share, is exercisable on the Initia
• $110 million — ayable by the Company, of approximately $110 million. The Offering is expected to close on
• $160 million — om November 2021, where he oversaw over $160 million in a private financing in 2022, $350+ m
• $350 — million in a private financing in 2022, $350+ million IPO in 2023 and $4.1B in the c
• $4.1B — in 2022, $350+ million IPO in 2023 and $4.1B in the company's acquisition by Bristol
• $60,000 — ill receive annual cash compensation of $60,000 (pro-rated for the current year) as pay
• $2,000,000 — estment in the Company of approximately $2,000,000 and will receive (i) 1,460,000 shares o
• $500,000 — estment in the Company of approximately $500,000 and will receive (i) 365,000 shares of
• $200,000 — estment in the Company of approximately $200,000 and will receive (i) 145,000 shares of
• $21,500,000 — estment in the Company of approximately $21,500,000 and will receive (i) 6,325,000 shares o

Filing Documents

• d882121d8k.htm (8-K) — 77KB
• d882121dex41.htm (EX-4.1) — 85KB
• d882121dex42.htm (EX-4.2) — 105KB
• d882121dex43.htm (EX-4.3) — 105KB
• d882121dex101.htm (EX-10.1) — 219KB
• d882121dex102.htm (EX-10.2) — 130KB
• d882121dex103.htm (EX-10.3) — 48KB
• d882121dex104.htm (EX-10.4) — 23KB
• d882121dex105.htm (EX-10.5) — 31KB
• d882121dex991.htm (EX-99.1) — 14KB
• g882121g1009165635519.jpg (GRAPHIC) — 3KB
• g882121g1009205115412.jpg (GRAPHIC) — 13KB
• 0001193125-24-236039.txt ( ) — 1214KB
• ikt-20241009.xsd (EX-101.SCH) — 3KB
• ikt-20241009_lab.xml (EX-101.LAB) — 18KB
• ikt-20241009_pre.xml (EX-101.PRE) — 11KB
• d882121d8k_htm.xml (XML) — 4KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 9, 2024 INHIBIKASE THERAPEUTICS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 001-39676 26-3407249 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 3350 Riverwood Parkway SE , Suite 1900 Atlanta , Georgia 30339 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (678) 392-3419 N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value IKT The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item1.01 Entry into a Material Definitive Agreement. Private Placement Transaction On October 9, 2024, Inhibikase Therapeutics, Inc. (the " Company ") entered into a securities purchase agreement (the " Purchase Agreement ") in connection with a private placement (the " Private Placement ") with certain institutional and other accredited investors (the " Purchasers "). The Company and the Purchasers are expected to enter into a registration rights agreement (the " Registration Rights Agreement ") in connection with the Private Placement. Pursuant to the Purchase Agreement, the Company agreed to sell in the Private Placement (i) 58,310,000 shares (" Shares ") of the Company's common stock, par value $0.001 per share (" Common Stock "), or, in lieu thereof, pre-funded warrants (" Pre-Funded Warrants ") to purchase up to 21,985,000 shares of Common Stock, (ii) Series A-1 Warrants (" Series A-1 Warrants ") to purchase up to 40,139,474 shares of Common Stock or, in lieu thereof, pre-funded warrants (" A-1 Pre-Funded Warrants ") to purchase the same number of shares of Common Stock and (iii) Series B-1 Warrants (" Series B-1 Warrants ", and together with the Series A-1 Warrants, the " Series Warrants ") to purchase up to 73,813,529 shares of Common Stock, or, in lieu thereof, pre-funded warrants (" B-1 Pre-Funded Warrants ", and, with the Pre-Funded Warrants, the Series A-1 Warrants, the A-1 Pre-Funded Warrants, the Series B-1 Warrants, the " Warrants ") to purchase the same number of shares of Common Stock. The Pre-Funded Warrants, A-1 Pre-Funded Warrants and B-1 Pre-Funded Warrants have an exercise price of $0.001 per share, are immediately exercisable upon issuance and can be exercised at any time after their original issuance until such Pre-Funded Warrants are exercised in full. Each Series Warrant will be exercisable for 1 share of common stock. Each Share and accompanying Series A-1 Warrant and Series B-1 Warrant is being sold at an offering price of $1.37 and each Pre-Funded Warrant and accompanying Series A-1 Warrant and Series B-1 Warrant is being sold at an offering price of $1.369 (equal to the purchase price per Share minus the exercise price of the Pre-Funded Warrant). Each Series A-1 Warrant has an exercise price of $1.37 per share, is exercisable on the Initial Exercise Date (as defined in the Series A-1 Warrant), and will expire at 5:00 p.m. (New York City time) on the 30 th day following the later of (A) the Company's public announcement (including by filing with the Securities and Exchange Commission (the " SEC ") a Current Report on Form 8-K) announcing the Phase 2b 12 week safety readout for IkT-001Pro with respect to pulmonary arterial hypertension and (B) the Company both obtaining the approval of the stockholders of the Company at a meeting of the Company's stockholders (the " Stockholder Meeting ") of an amendment to the Certificate of Incorporatio

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