In connection with his appointment, the Company has granted Dr. Hannestad an option to acquire 200,000 shares of the Company’s common stock in a restructuring in value equivalent to $4. 06 per share, the final value of the Company’s common stock on March 22, 2024. the newest market value. The day before Dr. Hannestad’s start date and assignment date. This award was approved through the Compensation Committee of Gain’s Board of Directors and awarded as a component of Gain Therapeutics, Inc. ‘s 2021 Incentive Stock Incentive Plan, as an incentive for Dr. Hannestad to enter employment with Gain, pursuant to Nasdaq Board Rule 5635(c)(4).
The Stock Option is reserved for a period of four years, with one-quarter (1/4) of the Shares subject to the Option being acquired on the first anniversary of Dr. Hannestad’s employment graduation date (the “Initial Acquisition Date”) and the remainder three-quarters (3/4) of the Shares conferred in a series of thirty-six (36) successive monthly equivalent installments on each of the following monthly anniversaries of the Stock of the Stock of the Stock of the Stock of the Stock of Initial date of acquisition of rights, provided that Dr. Hannestad is frequently engaged through the Company as such acquisition dates.
The Company provides this data in accordance with Nasdaq Listing Rule 5635(c)(4).
About GT-02287
Gain’s main Parkinson’s program has earned money from Michael J. Fox for Parkinson’s Research (MJFF) and the Silverstein Foundation for Parkinson’s Disease with GBA, as well as the Eurostars-2 joint programme with co-funding from the European Union. Research Union Horizon 2020 and Innosuisse – Swiss Innovation Agency.
About GBA1 Parkinson’s Disease
Parkinson’s disease GBA1 is caused by mutations in the GBA1 gene, which are discovered in up to 15% of Parkinson’s patients, making it the main genetic threat factor. The mutation causes dysfunctional and incorrect folding of the lysosomal glucocerebrosidase (GCase) enzyme, which reduces its activity in the brain and leads to the subsequent accumulation of α-synuclein and the degeneration of dopamine-containing nerve cells. Patients with GBA1-PD have a tendency to have earlier onset and faster progression of symptoms than those with sporadic PD, a progressive neurodegenerative disease. characterized by a motor syndrome consisting of bradykinesia (slowness of movement), rigidity, tremors at rest, and postural instability. Since existing treatments treat only the symptoms of Parkinson’s disease without affecting the underlying progression of the disease, there is an unmet need to expand new disease-modifying treatments, such as GT-02287, that have the potential to slow or prevent disease progression and care outcomes in this patient population.
About Gain Therapeutics, Inc.
Gain’s unique technique enables the discovery of novel small molecule allosteric modulators capable of restoring or altering protein function. By deploying its highly complex platform, Gain accelerates drug discovery and unlocks new disease-modifying treatments for incurable or hard-to-treat disorders. adding neurodegenerative diseases, rare genetic diseases, and oncology. For more information, visit GainTherapeutics. com and follow us on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release comprises “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements involved in this press release other than statements of past fact are “forward-looking statements. ” In some cases, you can identify those statements through forward-looking words such as “may,” “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate. ” . Array”, “predict”, “target”, “intend”, “seek”, “prospective” or “continue”, the negatives of those terms and the diversifications of those words or similar expressions that are intended to identify forward – forward-looking statements, although not all forward-looking statements involve those words. Forward-looking statements involved in this press release include, but are not limited to, statements relating to: the progression of the Company’s existing or long-term product candidates, adding GT-02287 expectations regarding the timing of effects of a Phase 1 clinical examination for GT-02287 and the potential clinical and curative benefits of the Company’s product candidates. These forward-looking statements are based on the Company’s expectations and assumptions the date of this press release. Each such forward-looking statement involves dangers and uncertainties that may cause the Company’s preclinical and long-term clinical progression programs, long-term effects or functionality to differ materially from those expressed or implied by the forward-looking statements. . These statements are not past facts but rather constitute the Company’s views regarding long-term effects, many of which, by their nature, are inherently doubtful and beyond the Company’s control. Many points may simply cause existing expectations to differ from actual effects, adding the effects of the post-COVID-19 environment and other global and macroeconomic situations on the Company’s business; clinical trials and monetary situation; unforeseen knowledge of protection or efficacy observed in preclinical studies or clinical trials, activation of clinical trial sites or decrease in expected recruitment rates; adjustments in expected or existing competition; adjustments in the regulatory environment; doubts and timeliness of the regulatory approval process; and litigation or other unforeseen disputes. Other points that may cause the Company’s actual effects to differ from those expressed or implied by the forward-looking statements involved in this press release are known in the segment titled “Risk Factors” in the Company’s Annual Report in the Form 10-K filed. with the Securities and Exchange Commission on March 26, 2024 and its other documents subsequently filed or furnished to the Securities and Exchange Commission from time to time. Any forward-looking statements included in this press release speak only as of the date on which they are made. The Company undertakes no legal responsibility to update such statements to reflect occasions occurring or cases existing after the date they were made, unless required by law.
Investor Contact:
Media Contacts:
Russo PartnersNic Johnson and Elio Ambrosionic. johnson@russopartnersllc. comelio. ambrosio@russopartnersllc. com(212) 845-4242