Inhibikase Therapeutics Issues Letter to Shareholders and Provides Update on Development Programs

BOSTON and ATLANTA, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Inhibikase Therapeutics, Inc. (Nasdaq: IKT) (Inhibikase or Company), a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of Parkinson's disease ("PD"), Parkinson's-related disorders and other diseases of the Abelson Tyrosine Kinases, today issued a Letter to Shareholders.

Dear Fellow Shareholders of Inhibikase Therapeutics:

What a ride it has been in 2023. The year began with a quick recovery in January from a brief clinical hold for risvodetinib as well as the successful closing of a $10 million equity raise to support the advancement of our neurodegenerative and cancer therapeutics programs. Despite the market volatility experienced this year, we approach the end of the year with our stock price up 68% since its low point of $0.81 on October 9. We have made great strides across our multi-therapeutic pipeline as the year comes to a close.

In neurodegeneration, we continue to advance our 201 trial evaluating risvodetinib in untreated Parkinson’s disease and began actively enrolling patients in the second quarter. As of today, all 32 sites are consenting, screening and enrolling patients with 35 participants enrolled, 50 potential participants scheduling or reviewing informed consent forms and 11 potential participants undergoing medical evaluations necessary to be considered for enrollment. Thus far, only three mild treatment-related adverse events have been reported across all enrolled patients. Based on the current pace of enrollment, we expect to report results from this trial in the second half of 2024. Our approach with Multiple System Atrophy, an aggressive form of Parkinson’s disease, has seen similar success in 2023. We have opened an IND for direct entry into a Phase 2 clinical trial and have received Orphan Drug Designation for risvodetinib as a treatment for MSA from the FDA, although the trial start date is yet to be determined. We plan to submit complementary regulatory documents for risvodetinib to European Union authorities in 2024. Additionally, our internal and external medical chemistry pursuits have identified four second generation molecules that will begin pharmacokinetic and therapeutic animal model studies in early 2024.