Inhibikase Therapeutics Reports $13.7 Million Net Loss and Increased R&D Expenses in Latest 10-Q

Inhibikase Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded a net loss of $13.7 million, a substantial increase from the $4.6 million loss reported in the same period last year. This increase in losses is attributed to a 282% rise in research and development expenses, which totaled $10.5 million, primarily driven by costs associated with the development of its lead product candidate, IKT-001, for Pulmonary Arterial Hypertension (PAH). The company did not generate any revenue during the quarter, consistent with the previous year.

The financial performance reflects a notable shift in operational focus, particularly following the acquisition of CorHepta Pharmaceuticals in February 2025. This acquisition resulted in a one-time charge of $7.4 million related to in-process research and development, contributing to the overall increase in expenses. Additionally, selling, general, and administrative expenses rose by 158% to $5.2 million, driven by higher legal and consulting fees, as well as increased stock-based compensation.

Inhibikase's operational metrics indicate a strategic pivot towards advancing its clinical programs. The company has completed non-human primate safety studies and a bioequivalence clinical trial for IKT-001, with plans to initiate a Phase 2b trial in the second half of 2025. As of March 31, 2025, Inhibikase had cash, cash equivalents, and marketable securities totaling $93.2 million, providing a liquidity cushion to support ongoing research and development activities. The company anticipates that its existing resources will be sufficient to fund operations for at least the next twelve months.

The filing also highlights the company's commitment to expanding its product pipeline and market presence. Inhibikase has discontinued its previous program for risvodetinib, a treatment for Parkinson's disease, and has instead focused on IKT-001, which is positioned as a potential disease-modifying therapy for PAH. The company has secured patent protection for IKT-001 in the U.S. until 2033, with potential extensions for certain treatment methods.

Looking ahead, Inhibikase plans to leverage its recent capital raises, including approximately $99.6 million from an October 2024 offering, to finance the upcoming clinical trials and further development of its product candidates. The company remains aware of the risks associated with drug development and regulatory approval processes, which could impact its financial outlook and operational strategies in the future.