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Gain Therapeutics

GANX Rare disease Lead: Phase 1 ★ Read the deep dive → 13 Biotech Distilled articles ↓ 29 filings & releases ↓ Cash $13.1M (Jun 30, 2026) ↓ 13 verdicts ↓ 2 timing quotes ↓
MetabolicNeurology Small Molecule

Market cap $45.0M 43.6M shares (10-Q, Jul 31, 2026) × $1.03 close Nov 6, 2026

Most recent annual filing: 2026-03-15

Catalyst timeline

2 trackedQuarter catalyst calendar →
  1. GT-02287 Ph2 start1Q 2027GT-02287 Ph2 start, 1Q 2027, material
  2. Cash runway corporate update2Q 2027Cash runway corporate update, 2Q 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (5 active programs)

Technology platforms

Magellan · Minoryx Therapeutics

Computational target and drug discovery platform using AI-driven structure-based virtual screening to identify novel allosteric binding sites on disease-implicated proteins and discover proprietary small molecule structurally targeted allosteric regulators (STARs). Disease focus areas include CNS disorders, lysosomal storage disorders, metabolic disorders, and oncology.

Magellan

Proprietary allosteric drug discovery platform enabling identification of novel small molecule modulators that restore or disrupt protein function; disease focus includes neurodegenerative diseases, rare genetic disorders (lysosomal storage disorders), and oncology

Targets: GCase, β-galactosidase

Capital (as filed)

Cash
$13.1M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$4.7M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$13.1M cash, runway 2Q27 per the update of Oct 1, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (13)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (13 calls)

Every verdict Biotech Distilled has published on Gain Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2025-12-19 Watch Gain Therapeutics (GANX): Scientific Due Diligence for Lead and Pipeline Products Biomarker data is encouraging but dilution overhang and omission of functional scores warrant waiting for the dust to settle before entering.
  2. 2025-12-22 Speculative buy speculative UPDATE: Gain Therapeutics (GANX) – Explaining The Rebound After The CEO's Defense CEO's embargo explanation for missing UPDRS data is credible and CDA mentions imply active Big Pharma interest, reducing corporate risk enough to move off the watch list.
  3. 2026-02-07 Speculative buy speculative UPDATE: Gain Therapeutics (GANX) - The "Missing" Data Has Been Found (And It Looks Pretty Good) Smoking-gun stratification slide shows statistically significant motor improvement in high-GluSph patients, significantly de-risking the science while financial/corporate risk remains.
  4. 2026-03-14 Hold UPDATE: Gain Therapeutics (GANX) - The FDA Taps the Brakes FDA request for additional preclinical data re-elevates regulatory and corporate risk, making aggressive buying imprudent ahead of a potential clinical hold on a cash-strapped biotech.
  5. 2026-03-21 Hold UPDATE: Gain Therapeutics (GANX) - The Update That Spooked the Market Biological thesis intact but FDA IND overhang, cash void, and backup compound spotlight make the stock uninvestable until Phase 2 IND clears.
  6. 2026-03-27 Hold UPDATE: Gain Therapeutics (GANX) - The 10-K Unveils the Dilution Engine... 10-K confirms massive ATM dilution funded the runway, FDA IND clearance slipped to Q2, and a new CEO lawsuit add corporate risk too high to aggressively buy.
  7. 2026-05-12 Hold UPDATE: Gain Therapeutics (GANX) — The Dilution Engine Hums On, The Clock Keeps Ticking Biology remains real but accelerating ATM dilution, renewed going-concern language, and unresolved lawsuit make waiting for IND clearance the right posture.
  8. 2026-05-26 Hold UPDATE: Gain Therapeutics (GANX) - The Stratification Gap Just Narrowed Stratification gap narrowed from 6.7 to 4.8 points softening the precision-medicine thesis, while FDA IND, cash, and corporate issues remain unresolved.
  9. 2026-06-29 Buy core UPDATE: Gain Therapeutics (GANX) - The FDA Clears the IND FDA IND clearance without a clinical hold is the single biggest de-risking event since the smoking-gun slide, putting a tradeable catalyst path back on the calendar.
  10. 2026-07-16 Buy core UPDATE: Gain Therapeutics (GANX) - The Shareholder Letter, The Rebrand, and the CMO Exit FDA clearance de-risking still intact despite CMO exit and absence of partnership; corporate problems unchanged but not worsened.
  11. 2026-08-12 Buy core UPDATE: Gain Therapeutics (GANX) - Day 360 Durability, and a $13.1M Problem High-GluSph durability signal extended to Day 270/360 without collapsing, but tightening cash and accelerating ATM dilution shift risk/reward toward patience over enthusiasm ahead of October readout.
  12. 2026-09-29 Hold UPDATE: Gain Therapeutics (GANX) - The CEO Takes the Checkbook Two senior exits in 10 weeks with CEO now doubling as interim CFO while named in fraud lawsuit raises corporate risk enough to downgrade ahead of the October Korea readout.
  13. 2026-10-01 Avoid UPDATE: Gain Therapeutics (GANX) - Stable Scores, Vanishing Gap, Slipped Start The high-GluSph responder edge faded to 'everyone is stable,' Phase 2 slipped two quarters requiring a new protocol, and runway doesn't fund the trial it was supposed to start.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (2 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (29)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Apr 24, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

1 more filing (13G holder notices, S-8, proxy material, SEC correspondence …)