Gain Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
GANX$1.08-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, | ||||||
| · 2024 · 2023 | ||||||
| · · · · | ||||||
| Operating activities: · · | ||||||
| Net loss | | $(16,642,964) | | $(17,543,551) | ||
| | | | | | | |
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | |||
| Depreciation and amortization | | 62,764 | | 59,990 | ||
| Stock-based compensation expense | | 2,030,830 | | 2,703,967 | ||
| Other non-cash items | | | (410,461) | | | (247,491) |
| | | | | | | |
| | | | | | | |
| Changes in operating assets and liabilities: | | | | |||
| Prepaid expenses and other assets | | | (741,103) | | | 25,018 |
| Accounts payable and other liabilities | | 332,959 | | 333,622 | ||
| Defined benefit pension plan | | | (93,069) | | | (762) |
| Deferred income | | 41,853 | | 1,463,713 | ||
| Total changes in operating assets and liabilities | | (459,360) | | 1,821,591 | ||
| Cash used in operating activities | | | (15,419,191) | | | (13,205,494) |
| | | | | | | |
| Cash flows from investing activities: | | | | |||
| Purchase of property and equipment and internal use of software | | (21,548) | | (15,339) | ||
| Purchases of marketable securities | | | — | | | (1,956,350) |
| Maturity of marketable securities | | | 5,042,502 | | | 9,052,500 |
| Cash provided by/(used in) investing activities | | | 5,020,954 | | | 7,080,811 |
| | | | | | | |
| Cash flows from financing activities: | | | | |||
| Net proceeds from issuance of shares in at-the-market (ATM) offering (Note 13) | | | 615,515 | | | 3,147,233 |
| Net proceeds from issuance of shares and warrants in public offering (Note 13) | | | 10,261,177 | | | — |
| Net proceeds from the exercise of Warrants (Note 13) | | | 113,801 | | | — |
| Net proceeds from the exercise of Stock Options (Note 14) | | | 57,711 | | | — |
| Payments of deferred offering costs (Note 13) | | | (280,867) | | | — |
| Payments of current portion of long-term debt (Note 11) | | | (68,099) | | | (66,488) |
| Cash provided by/(used in) financing activities | | $10,699,238 | | $3,080,745 | ||
| Effect of exchange rate changes | | (46,576) | | 5,155 | ||
| Net increase/(decrease) in cash, cash equivalents and restricted cash | | $254,425 | | $(3,038,783) | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 11,828,970 | | 7,342,429 | ||
| Cash, cash equivalents and restricted cash at end of period | | $12,083,395 | | $4,303,646 | ||
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