Leap Therapeutics Inc. (NASDAQ:LPTX) is trading at $0.69 in pre-market, down 9.15% on Tuesday.
Check out the current price of LPTX stock here.
Winklevoss Capital Leads $58.9 Million Private Placement
The Cambridge, Massachusetts-based biotechnology company announced $58.88 million in cash commitments for a private investment in public equity offering led by Winklevoss Capital.
According to an Oct. 6 press release, the deal involves 95,849,353 common shares or pre-funded warrants, along with warrants to purchase an additional 71,887,008 shares for $0.5335 each. The total combined price per unit is $0.61439.
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Digital Asset Treasury Strategy Initiated
Leap entered the agreement as part of its plan to launch a digital asset treasury strategy, with Winklevoss Capital providing both funding and strategic guidance. A portion of the capital will also support the development of its therapeutic programs, FL-501 and sirexatamab.
The latter recently completed a Phase 2 trial in colorectal cancer patients, with results set to be presented at the ESMO Congress 2025 on Oct. 19 in Berlin.
Board Expansion, Transaction Details
Leap will also expand its board of directors to 12 members as part of the agreement. Winklevoss Capital will nominate two directors, one of whom will serve as board chair.
The private placement is expected to close on Wednesday, pending customary closing conditions.
Stock Performance, Trading Metrics
Leap reported a loss of $0.40 per share in its second quarter, compared with analyst estimates of a $0.29 loss. The company reported zero revenue, in line with estimates. The next earnings report is scheduled for Nov. 12.
Leap Therapeutics has a yearly trading range between $0.22 and $4.79, a market capitalization of $31.86 million, and an average daily trading volume of 1.61 million shares.
The biotech has gained 163.34% over the past six months, despite a 73.48% decline since the start of the year.
Price Action: According to Benzinga Pro data, LPTX closed Monday at $0.76, marking a 43.15% increase for the day.
Benzinga’s Edge Stock Rankings show that LPTX is experiencing short- and mid-term upward momentum, while undergoing long-term consolidation. See how its performance compares to other well-known stocks.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
