Inhibikase Therapeutics reported its full‑year 2025 results, posting a net loss of $48.3 million, or $0.49 per share, for the year ended December 31 2025. The company’s cash, cash equivalents and marketable securities rose to $178.8 million from $97.5 million at the end of 2024, giving it a pro‑forma cash balance of $177 million after a $115 million public offering completed in November 2025.
The loss reflects a $7.4 million write‑off of in‑process R&D from the February 2025 acquisition of CorHepta and $2.5 million in stock‑based compensation. Research and development expenses increased to $29.8 million, while selling, general and administrative costs climbed to $23.6 million, including $1.0 million in severance expenses related to senior executive transitions.
The company’s cash position, bolstered by the capital raise, provides a runway to fund the global Phase 3 IMPROVE‑PAH study of its lead candidate IKT‑001. The study, a pivotal trial in pulmonary arterial hypertension, is a key milestone that could lead to regulatory approval and commercial traction for the drug.
CEO Mark Iwicki said, “The fourth quarter of 2025 was a transformational quarter for the Company as we transitioned to a global pivotal Phase 3 clinical study in Pulmonary Arterial Hypertension following receipt of a Written Response from a Type C interaction from the United States Food and Drug Administration. With regulatory submissions in over 20 countries already filed and our first sites initiated, we are well‑placed to advance enrollment in our global pivotal study, called IMPROVE‑PAH, in PAH.”
The results underscore Inhibikase’s focus on clinical development rather than revenue generation, typical for a clinical‑stage biopharma. The increased cash reserves and ongoing Phase 3 trial position the company to potentially secure regulatory approval for IKT‑001, while the net loss highlights the high upfront costs of drug development and the impact of one‑time write‑offs.
Compared to 2024, cash rose 83%, R&D expenses grew 22%, and SG&A increased 15%, reflecting the company’s investment in the Phase 3 trial and the CorHepta acquisition.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.