Gain Therapeutics Inc

NASDAQ:GANXUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

tax $(8,141,869) $(7,661,380) $(12,136,189) $(12,781,971) ---------- ---------- ----------- ----------- Income tax (1,209) (26,589) (21,083) (43,317) Net loss $(8,143,078) $(7,687,969) $(12,157,272) $(12,825,288) ========== ========== =========== =========== Net loss per shares: Net loss per share attributable to common stockholders - basic and diluted $ (0.42) $ (0.62) $ (0.65) $ (1.05) Weighted average common shares - basic and diluted 19,215,582 12,387,089 18,600,683 12,157,969 GAIN THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) June 30, December 31, 2024 2023 ------------- --------------- Assets Current assets: Cash and cash equivalents $ 16,936,315 $ 11,794,949 Marketable securities - current -- 4,999,704 Tax credits 313,248 242,577 Prepaid expenses and other current assets 1,289,316 741,638 ----------- ----------- Total current assets $ 18,538,879 $ 17,778,868 ----------- ----------- Non-current assets: Property and equipment, net $ 123,930 $ 125,962 Internal-use software 158,149 193,375 Operating lease - right of use assets 325,879 459,215 Restricted cash 31,803 34,021 Long-term deposits and other non-current assets 17,547 17,890 ----------- ----------- Total non-current assets 657,308 830,463 ----------- ----------- Total assets $ 19,196,187 $ 18,609,331 ----------- ----------- Liabilities and stockholders' equity Current liabilities: Accounts payable $ 2,046,832 $ 1,318,965 Operating lease liability - current 186,846 229,693 Other current liabilities 3,468,254 2,160,366 Deferred income - current 710,001 1,122,138 Loans - current 111,051 118,797 ----------- ----------- Total current liabilities $ 6,522,984 $ 4,949,959 ----------- ----------- Non-current liabilities: Defined benefit pension plan $ 298,428 $ 307,454 Operating lease liability - non-current 134,321 229,855 Deferred income - non-current 80,364 94,786 Loans - non-current 375,352 449,053 ----------- ----------- Total non-current liabilities 888,465 1,081,148 ----------- ----------- Total liabilities $ 7,411,449 $ 6,031,107 ----------- ----------- Stockholders' equity Preferred stock, $0.0001 par value; 10,000,000 shares authorized; nil shares issued and outstanding as of June 30, 2024 and December 31, 2023. -- -- Common stock, $0.0001 par value: 50,000,000 shares authorized; 25,172,573 issued and outstanding as of June 30, 2024; 16,206,680 issued and outstanding as of December 31, 2023. 2,518 1,621 Additional paid-in capital 84,710,747 73,113,079 Accumulated other comprehensive income 12,462 247,241 Accumulated deficit (60,783,717) (38,516,197) Loss for the period (12,157,272) (22,267,520) ----------- ----------- Total stockholders' equity 11,784,738 12,578,224 ----------- ----------- Total liabilities and stockholders' equity $ 19,196,187 $ 18,609,331 =========== ===========