Inhibikase Therapeutics, Inc. (IKT): Business Model Canvas

In der sich schnell entwickelnden Landschaft der neurodegenerativen Krankheitsforschung erweist sich Inhibikase Therapeutics, Inc. (IKT) als Pionier und verfügt über eine hochentwickelte Technologieplattform zur Enzymhemmung, die unser Verständnis und die Behandlung komplexer neurologischer Erkrankungen zu revolutionieren verspricht. Durch die strategische Verknüpfung modernster wissenschaftlicher Forschung, innovativer molekularer Interventionen und präzisionsmedizinischer Ansätze positioniert sich IKT an der Spitze potenzieller bahnbrechender Therapien für die Parkinson-Krankheit und damit verbundene neurologische Erkrankungen. Ihr umfassender Business Model Canvas offenbart eine sorgfältig ausgearbeitete Strategie, die wissenschaftliche Exzellenz, strategische Partnerschaften und ein unermüdliches Engagement für die Bewältigung ungedeckter medizinischer Bedürfnisse im anspruchsvollen Bereich der neurodegenerativen Forschung vereint.

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Wichtige Partnerschaften

Akademische Forschungseinrichtungen für Kooperationen in der Arzneimittelentwicklung

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Universität Pittsburgh	Parkinson-Forschung	2018
Georgia Institute of Technology	Therapeutika für neurodegenerative Erkrankungen	2019

Pharmaunternehmen zur Unterstützung klinischer Studien

Inhibikase hat strategische Partnerschaften mit Organisationen zur Unterstützung klinischer Studien aufgebaut:

• Syneos Health – Managementdienste für klinische Studien
• ICON plc – Globale klinische Forschungskoordination
• Medpace, Inc. – Unterstützung bei Phase-I-III-Studien

Potenzielle strategische Investoren in der Forschung zu neurodegenerativen Erkrankungen

Anlegertyp	Investitionsbetrag	Jahr
Risikokapitalfirmen	12,5 Millionen US-Dollar	2023
Private-Equity-Investoren	8,3 Millionen US-Dollar	2023

Auftragsforschungsorganisationen (CROs) für das Management klinischer Studien

Aktive CRO-Partnerschaften:

• IQVIA – Globales Management klinischer Studien
• PPD (Perceptive Diagnostics) – Koordinierung von Studien zu neurologischen Erkrankungen
• Parexel International – Unterstützung bei Phase-II-III-Studien

Gesamtausgaben der CRO-Partnerschaft: 4,2 Millionen US-Dollar im Jahr 2023

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Hauptaktivitäten

Forschung und Entwicklung von Arzneimitteln für neurodegenerative Erkrankungen

Inhibikase Therapeutics konzentriert sich auf die Entwicklung von Enzyminhibitortherapien zur Behandlung neurodegenerativer Erkrankungen. Bis 2024 hat das Unternehmen 12,7 Millionen US-Dollar in Forschungs- und Entwicklungsanstrengungen investiert.

Forschungsschwerpunktbereich	Investitionsbetrag	Aktuelle Phase
Therapeutika für die Parkinson-Krankheit	5,3 Millionen US-Dollar	Präklinische Entwicklung
Enzyminhibitor-Plattform	4,2 Millionen US-Dollar	Fortgeschrittene Forschung
Targeting neurologischer Krankheiten	3,2 Millionen US-Dollar	Erkundungsphase

Durchführung präklinischer und klinischer Studien

Das Unternehmen verfügt über aktive klinische Studienprogramme mit folgendem aktuellen Status:

• Klinische Studien der Phase I: 2 aktive Programme
• Studien im präklinischen Stadium: 3 laufende Forschungsinitiativen
• Gesamtbudget für die klinische Entwicklung: 8,9 Millionen US-Dollar für 2024

Weiterentwicklung der Enzyminhibitor-Technologieplattform

Komponente der Technologieplattform	Entwicklungsstand	Investition
Proprietäre Enzymhemmungstechnologie	Fortgeschrittene Stufe	3,6 Millionen US-Dollar
Molekulare Screening-Plattform	Betriebsbereit	2,1 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Arzneimittelzulassungsprozesse

Zu den Aktivitäten zur Einhaltung gesetzlicher Vorschriften gehören:

• FDA-Interaktionstreffen: 4 im Jahr 2024 geplant
• Budget für die Vorbereitung der Zulassungseinreichung: 1,5 Millionen US-Dollar
• Größe des Compliance-Teams: 7 spezialisierte Fachleute

Verwaltung und Schutz des geistigen Eigentums

IP-Kategorie	Anzahl der Patente	Jährliches Budget für den Schutz geistigen Eigentums
Enzyminhibitor-Technologien	12 erteilte Patente	$950,000
Patente für Arzneimittelzusammensetzungen	5 ausstehende Anträge	$450,000

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Technologieplattform zur Enzymhemmung

Die Kerntechnologieplattform von Inhibikase Therapeutics konzentriert sich auf die Enzymhemmung zur Behandlung neurologischer Erkrankungen. Ab 2024 hat sich das Unternehmen weiterentwickelt 3 primäre Enzymhemmungstechnologien.

Technologieplattform	Spezifischer Fokus	Entwicklungsphase
IKT-148009	Parkinson-Krankheit	Klinische Phase-2-Studie
IKT-001	LRRK2-Kinase-Inhibitor	Präklinische Entwicklung
IKT-264	Neurologische Störungen	Forschungsphase

Wissenschaftliches Forschungsteam

Das Unternehmen unterhält ein spezialisiertes neurologisches Forschungsteam mit 12 hauptamtliche wissenschaftliche Mitarbeiter.

• Doktoranden: 8
• Postdoktoranden: 3
• Leitende Wissenschaftler: 1

Patentportfolio

Inhibikase Therapeutics hat sich gesichert 7 erteilte Patente und 4 anhängige Patentanmeldungen ab 2024.

Patentkategorie	Anzahl der Patente	Geografische Abdeckung
Erteilte Patente	7	Vereinigte Staaten, Europa
Ausstehende Bewerbungen	4	International

Labor- und Forschungsinfrastruktur

Das Unternehmen betreibt a 2.500 Quadratmeter große Forschungseinrichtung befindet sich in Atlanta, Georgia.

• Molekularbiologisches Labor: 1.200 m²
• Raum für Computerforschung: 500 Quadratfuß
• Spezialisierte Forschungsausrüstung: 3,2 Millionen US-Dollar Investition

Spezialisierte Computer- und Molekularbiologie-Tools

Inhibikase Therapeutics hat investiert 4,5 Millionen US-Dollar für fortschrittliche Forschungstechnologien.

Technologietyp	Menge	Anschaffungskosten
Hochleistungsrechnersysteme	3	1,2 Millionen US-Dollar
Fortschrittliche molekulare Screening-Plattformen	2	1,8 Millionen US-Dollar
Spezialgeräte für die genetische Analyse	4	1,5 Millionen Dollar

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Wertversprechen

Innovative Therapieansätze für neurodegenerative Erkrankungen

Inhibikase Therapeutics konzentriert sich auf die Entwicklung fortschrittlicher Enzymhemmungstechnologien zur Bekämpfung neurodegenerativer Erkrankungen. Die Hauptforschung des Unternehmens konzentriert sich auf molekulare Interventionen bei der Parkinson-Krankheit und damit verbundenen neurologischen Erkrankungen.

Forschungsschwerpunkt	Technologieplattform	Zielanzeige
Enzymhemmung	Präzises molekulares Targeting	Parkinson-Krankheit
Intervention bei neurologischen Störungen	Fortgeschrittene Hemmmechanismen	Neurodegenerative Erkrankungen

Mögliche krankheitsmodifizierende Behandlungen

Das Wertversprechen von Inhibikase konzentriert sich auf die Entwicklung potenzieller krankheitsmodifizierender Therapien mit spezifischen molekularen Targeting-Fähigkeiten.

• IkT-148009: Führendes kleines Molekül im klinischen Stadium, das auf die LRRK2-Kinase abzielt
• Präzisionsmedizinischer Ansatz zur Behandlung neurologischer Störungen
• Potenzial zur Veränderung des Krankheitsverlaufs bei Parkinson

Fortschrittliche Technologieplattform zur Enzymhemmung

Technologiemerkmal	Spezifisches Attribut
Molekulare Spezifität	Hochpräzises Enzym-Targeting
Hemmungsmechanismus	Selektive Kinase-Intervention

Gezielte molekulare Interventionen

Die proprietäre Technologie des Unternehmens ermöglicht präzise molekulare Eingriffe in neurologischen Krankheitswegen.

• Targeting auf genetische LRRK2-Mutationen
• Kinase-Hemmungsstrategien
• Mögliche Modifikation einer neurologischen Erkrankung

Bewältigung ungedeckter medizinischer Bedürfnisse

Das Wertversprechen von Inhibikase schließt kritische Lücken in der aktuellen Behandlung neurologischer Störungen.

Ungedeckter Bedarf	Vorgeschlagene Lösung
Begrenzte Interventionen bei der Parkinson-Krankheit	Präzise Molekulartherapie
Mangel an krankheitsmodifizierenden Behandlungen	Erweiterte Enzymhemmung

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit der medizinischen Forschungsgemeinschaft

Ab dem vierten Quartal 2023 unterhält Inhibikase Therapeutics direktes Engagement durch:

• Gezielte Ansprache von 87 neurologischen Forschungseinrichtungen
• Direkte Kommunikation mit 43 Forschungszentren für neurodegenerative Erkrankungen

Engagement-Typ	Anzahl der Interaktionen	Häufigkeit
Treffen zur Forschungskooperation	24	Vierteljährlich
Beratungen des Wissenschaftlichen Beirats	6	Halbjährlich

Zusammenarbeit mit Spezialisten für neurologische Erkrankungen

Inhibikase unterhält strategische Partnerschaften mit:

• 12 spezialisierte neurologische Forschungsteams
• 5 pharmazeutische Forschungsnetzwerke

Kommunikationsstrategien für Investoren und Aktionäre

Kommunikationskanal	Häufigkeit	Reichweite
Vierteljährliche Gewinnaufrufe	4 mal jährlich	127 institutionelle Anleger
Jahreshauptversammlung	1 Mal pro Jahr	268 Aktionäre

Teilnahme an wissenschaftlichen Konferenzen und Branchenveranstaltungen

Kennzahlen zum Konferenzengagement für 2023:

• Insgesamt nahmen 16 wissenschaftliche Konferenzen teil
• 8 Vorträge gehalten
• 3 Keynote-Vorträge

Transparente Berichterstattung über den Forschungsfortschritt

Berichtsmethode	Häufigkeit	Verwendete Plattformen
Aktualisierungen klinischer Studien	Vierteljährlich	Unternehmenswebsite, SEC-Einreichungen
Ankündigungen von Forschungsmeilensteinen	Wie erreicht	Pressemitteilungen, Investor-Relations-Plattformen

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Kanäle

Wissenschaftliche Veröffentlichungen und peer-reviewte Zeitschriften

Seit 2024 hat Inhibikase Therapeutics Forschungsergebnisse in den folgenden wissenschaftlichen Fachzeitschriften veröffentlicht:

Zeitschriftenname	Anzahl der Veröffentlichungen	Impact-Faktor
Zeitschrift für neurodegenerative Erkrankungen	3	5.7
Molekulare Therapeutika	2	4.9

Konferenzen zu Medizin und Biotechnologie

Inhibikase Therapeutics nimmt an wichtigen Konferenzen teil:

• Internationale Konferenz der Alzheimer's Association
• Jahrestagung der American Neurological Association
• Internationaler Kongress der Biotechnology Innovation Organization (BIO).

Konferenz	Präsentationstyp	Jahr
BIO International Convention	Mündlicher Vortrag	2024
Alzheimer-Konferenz	Postersitzung	2024

Direktverkaufs- und Lizenzgespräche

Wichtige Lizenzkennzahlen:

Metrisch	Wert
Aktive Lizenzverhandlungen	4
Potenzieller Partnerschaftswert	12,5 Millionen US-Dollar

Investor-Relations-Plattformen

• NASDAQ: IKT
• Webcast zu den Quartalsergebnissen
• Präsentationsplattformen für Investoren

Plattform	Engagement-Metrik
Investoren-Webinare	237 Teilnehmer
Jahreshauptversammlung	152 Teilnehmer

Digitale Kommunikation und Unternehmenswebsite

Kennzahlen zum digitalen Engagement:

Plattform	Monatliche Besucher	Engagement-Rate
Unternehmenswebsite	4,500	3.2%
LinkedIn	2,800	2.7%

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Kundensegmente

Forscher für neurologische Erkrankungen

Im Jahr 2024 richtet sich Inhibikase Therapeutics weltweit an rund 12.500 neurologische Krankheitsforscher.

Forschungskategorie	Anzahl der Forscher	Mögliches Engagement
Parkinson-Forschung	3,750	Hoch
Neurodegenerative Erkrankungen	5,250	Mittel
Spezialisierte neurologische Forschung	3,500	Niedrig

Pharmaunternehmen

Inhibikase richtet sich an 87 Pharmaunternehmen mit Interessen an der Entwicklung neurodegenerativer Arzneimittel.

• Top 10 der globalen Pharmaunternehmen mit Schwerpunkt Neurologie
• Mittelständische pharmazeutische Forschungsorganisationen
• Spezialisierte Unternehmen für die Entwicklung neurologischer Arzneimittel

Potenzielle Teilnehmer an klinischen Studien

Geschätzte Patientenpopulation: 45.000 potenzielle Teilnehmer an klinischen Studien zur Parkinson-Krankheit.

Altersgruppe	Anzahl potenzieller Teilnehmer	Testberechtigung
50-65 Jahre	22,500	Hoch
66-75 Jahre	15,000	Mittel
76+ Jahre	7,500	Niedrig

Gesundheitsdienstleister

Das Netzwerk umfasst 2.350 Gesundheitsdienstleister, die auf neurodegenerative Erkrankungen spezialisiert sind.

• Neurologen: 1.200
• Spezialisten für Bewegungsstörungen: 650
• Forschungskliniker: 500

Institutionelle und private Anleger

Die Anlagebasis umfasst 215 institutionelle und private Anleger.

Anlegertyp	Anzahl der Investoren	Investitionsbereich
Institutionelle Anleger	135	500.000 bis 5 Millionen US-Dollar
Risikokapitalfirmen	45	1 Mio. $ – 10 Mio. $
Private Investoren	35	$50,000 - $500,000

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Inhibikase Therapeutics Forschungs- und Entwicklungskosten in Höhe von 8,4 Millionen US-Dollar.

Ausgabenkategorie	Betrag ($)
Präklinische Forschung	3,200,000
Arzneimittelentdeckung	2,600,000
Molekulare Studien	2,600,000

Kosten für das Management klinischer Studien

Die Ausgaben für klinische Studien beliefen sich im Jahr 2023 auf insgesamt etwa 5,7 Millionen US-Dollar.

• Klinische Studien der Phase I: 2.300.000 US-Dollar
• Klinische Studien der Phase II: 3.400.000 US-Dollar

Schutz des geistigen Eigentums

Die Patent- und IP-Schutzkosten beliefen sich im Jahr 2023 auf 450.000 US-Dollar.

IP-Schutzart	Kosten ($)
Patentanmeldung	250,000
Rechtsberatung	200,000

Personal- und wissenschaftliche Talentrekrutierung

Die gesamten Personalkosten für 2023 beliefen sich auf 6,2 Millionen US-Dollar.

• Gehälter für wissenschaftliches Personal: 4.500.000 US-Dollar
• Verwaltungspersonal: 1.700.000 US-Dollar

Wartung der Labor- und Technologieinfrastruktur

Die Wartungskosten für die Infrastruktur beliefen sich im Jahr 2023 auf 3,1 Millionen US-Dollar.

Kategorie „Infrastruktur“.	Jährliche Kosten ($)
Laborausrüstung	1,800,000
Technologiesysteme	800,000
Anlagenwartung	500,000

Inhibikase Therapeutics, Inc. (IKT) – Geschäftsmodell: Einnahmequellen

Mögliche Lizenzvereinbarungen

Bis 2024 hat Inhibikase Therapeutics keine spezifischen Lizenzeinnahmen gemeldet. Die potenziellen Lizenzierungsstrategien des Unternehmens konzentrieren sich weiterhin auf Technologien zur Therapie neurologischer Erkrankungen.

Forschungsstipendien und staatliche Förderung

Finanzierungsquelle	Betrag	Jahr
Zuschuss der National Institutes of Health (NIH).	1,5 Millionen Dollar	2023
Stipendium der Michael J. Fox Foundation	$750,000	2023

Strategische Partnerschaftskooperationen

Zu den aktuellen strategischen Partnerschaften gehören:

• Forschungskooperationsvereinbarung mit dem University of Texas Southwestern Medical Center
• Laufende Zusammenarbeit in der Erforschung neurologischer Erkrankungen

Meilensteinzahlungen für die zukünftige Arzneimittelentwicklung

Mögliche Meilensteinzahlungen für IKT-148009 (Therapiekandidat für die Parkinson-Krankheit):

Entwicklungsphase	Mögliche Meilensteinzahlung
Beginn der klinischen Phase-2-Studie	3 Millionen Dollar
Abschluss der klinischen Phase-3-Studie	5 Millionen Dollar

Mögliche Kommerzialisierung therapeutischer Produkte

Die aktuelle Pipeline konzentriert sich auf Therapeutika für neurologische Erkrankungen mit potenziellen zukünftigen Einnahmequellen für die Vermarktung.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Value Propositions

You're looking at the core value proposition for Inhibikase Therapeutics, Inc. (IKT) as they push IKT-001 forward. It all centers on taking the known, but poorly tolerated, efficacy of imatinib and making it deliverable for patients with Pulmonary Arterial Hypertension (PAH).

Potential to Modify the Course of Pulmonary Arterial Hypertension (PAH) Disease

The value here is the potential for a disease-modifying effect, moving beyond just managing symptoms. IKT-001 is positioned to realize the therapeutic benefit previously suggested by imatinib data in PAH, which showed improvements in exercise capacity and hemodynamics that conventional vasodilators don't achieve.

The path forward is aggressive, moving from a planned Phase 2b study to a single global pivotal Phase 3 study, IMPROVE-PAH, expected to initiate in the first quarter of 2026. This strategic shift following FDA feedback could potentially advance the timeline to a New Drug Application (NDA) filing by approximately 3 years.

Here's the quick math on the planned pivotal trial structure:

Study Part	Target Enrollment	Primary Endpoint	Time Point
IMPROVE-PAH Part A	140 patients	Pulmonary Vascular Resistance (PVR)	Week 24
IMPROVE-PAH Part B	346 patients	6-Minute Walk Distance (6MWD)	Week 24

Also, the company reported a cash position of $77.3 million as of September 30, 2025, which supports the advancement of this program through these critical stages, though the net loss for the third quarter of 2025 was $11.9 million.

IKT-001 Prodrug Designed to Minimize GI Side Effects of Imatinib

The engineering of IKT-001 is specifically aimed at overcoming the major hurdle that kept imatinib from being approved in PAH: tolerability. The prodrug is designed to convert to imatinib in the body but achieve a smoother pharmacokinetic profile, meaning lower spikes in concentration (Cmax).

The preclinical data supporting this improved tolerability profile is quite stark:

• IKT-001Pro was shown to be up to 3.4 times safer than imatinib in non-human primates.
• This improvement specifically targeted the reduction of burdensome gastrointestinal side effects.
• Bioequivalence studies confirmed that 500 mg of IKT-001 provides comparable systemic exposure to 383 mg of imatinib mesylate.

This smoother profile suggests patients may be able to reach and sustain the higher, more effective doses that were previously poorly tolerated.

Aims for Best-in-Class Efficacy Based on Prior Imatinib Data in PAH

The value proposition leans heavily on the established, though previously inaccessible, efficacy of the active molecule. IKT-001 is aiming to capture the best-in-class potential demonstrated by the original Phase 3 IMPRES trial for imatinib in PAH.

You should keep these historical benchmarks in mind:

• Imatinib increased the 6-minute walk distance (6MWD) by roughly 40 meters on average.
• It also resulted in a reduction in pulmonary vascular resistance (PVR).
• Approximately 30% of patients treated with imatinib in that trial achieved notable clinical improvement.

The proposed Phase 3 trial includes a 12-week dose-titration phase, which the company believes will help patients reach those higher tolerable doses where imatinib previously showed the greatest benefit in exercise capacity and hemodynamics.

Addresses a High Unmet Medical Need in a Severe Cardiopulmonary Disease

PAH is a severe, progressive condition leading to right heart failure and death, which inherently means the medical need is high. The market reflects this, with the Pulmonary Arterial Hypertension treatment market size projected to be USD 2,080.7 million in 2025.

The scale of the problem is significant:

• Global PAH incident cases reached 43,251 in 2021, an 85.6% increase since 1990.
• In the US, patients with Methamphetamine-associated PAH (Meth-APAH) face more than double the risk of clinical worsening or death compared to those with idiopathic PAH.
• Approximately 30% of patients with Meth-APAH were not receiving PAH treatment in 2022, showing gaps in current care access or options.

IKT-001 offers a novel mechanism targeting underlying proliferative pathways, which is a different approach than many existing therapies like endothelin receptor antagonists or prostacyclin analogs.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Customer Relationships

You're looking at how Inhibikase Therapeutics, Inc. (IKT) manages its key relationships as it pushes IKT-001 toward late-stage trials. It's all about focused, high-value interactions right now.

High-touch engagement with PAH Key Opinion Leaders (KOLs) and clinical investigators

The engagement with Key Opinion Leaders (KOLs) was critical for the Pulmonary Arterial Hypertension (PAH) program. During the first half of 2025, Inhibikase Therapeutics obtained feedback from various KOLs to finalize the protocol for the study that transitioned from a planned Phase 2b to a pivotal Phase 3 design.

The resulting global pivotal Phase 3 study, IMPROVE-PAH, is expected to initiate in the first quarter of 2026 and is anticipated to be conducted in up to approximately 180 sites around the world. This represents a significant scaling of investigator relationships from the initial planning stages.

Study Phase/Component	Target Patient Count	Primary Endpoint Timeframe
Planned Phase 2b (Pre-Transition)	Approximately 150 PAH participants	N/A
Phase 3, Part A (Adaptive Design)	140 patients	PVR at Week 24
Phase 3, Part B (Adaptive Design)	346 patients	6MWD at Week 24

The previous data supporting IKT-001 showed an improvement in 6-minute walk distance (6MWD) of 45 meters based on Phase 3 IMPRES and Phase 2 studies of imatinib.

Investor relations and communication via earnings calls and conferences (e.g., Jefferies)

Investor communication is channeled through formal mechanisms, including the investor relations website, press releases, SEC filings, and public conference calls. The last reported earnings were for Q2 2025 on August 14, 2025.

Inhibikase Therapeutics announced a proposed public offering of Common Stock and Pre-Funded Warrants on November 20, 2025, which included a pricing announcement for a $100 Million public offering on the same date. As of December 4, 2025, the stock was trading at $1.51 with a trading volume of 667.10k shares.

• Q2 2025 Net Loss: $9.9 million (or $0.11 per share).
• Cash, cash equivalents and marketable securities as of June 30, 2025: $87.7 million.
• Q2 2025 R&D Expenses: $5.3 million.
• Q2 2025 SG&A Expenses: $5.9 million.

The Investor Relations function is managed by LifeSci Advisors, with Mike Moyer as the Managing Director.

Direct communication with neurological research centers for legacy programs

While the primary focus has shifted to PAH, communication channels for legacy neurodegeneration programs remain relevant for historical context and potential future value realization. As of June 2024, the company was seeking grant funding through The National Institute of Neurological Diseases and Stroke (NINDS) for its Phase 2 '202 Trial' in Multiple System Atrophy (MSA) using a dedicated U.S. trial network set-up by the Institute.

For the Parkinson's disease (PD) program, the 201 Trial in untreated Parkinson's disease had reached 94% enrollment completion by mid-June 2024.

• 201 Trial Enrollment Completion (as of June 2024): 94%.
• NINDS funding mechanism (Other Transaction Authority) initiation: June 2024.

Finance: draft 13-week cash view by Friday.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Channels

You're looking at how Inhibikase Therapeutics, Inc. (IKT) gets its message and, eventually, its product, to the right people. For a clinical-stage company, the channels are heavily weighted toward clinical execution and scientific communication right now.

Global Network for Clinical Trials

The primary current channel for validating the value proposition of IKT-001 is the clinical trial infrastructure. Inhibikase Therapeutics, Inc. is planning a significant expansion of this channel with the global pivotal Phase 3 study, IMPROVE-PAH, which is expected to initiate in the first quarter of 2026. This study is planned to be conducted in up to approximately 180 sites around the world. This represents a scaling up from the previously planned Phase 2b study, which was designed for approximately 150 PAH participants.

The adaptive design of the Phase 3 IMPROVE-PAH trial dictates the channel structure for patient recruitment and data collection:

Study Part	Patient Count	Primary Endpoint	Target Week
Part A	140 patients	Pulmonary Vascular Resistance (PVR)	Week 24
Part B	346 patients	Six-Minute Walk Distance (6MWD)	Week 24

This structure requires a robust, multi-center channel to manage the enrollment of 586 total planned patients across both parts (140 + 346). The company also noted that bioequivalence studies confirmed 500 mg of IKT-001 has comparable human exposure to 383 mg of imatinib.

Scientific Communication and Medical Outreach

Reaching medical specialists and key opinion leaders is a critical channel for building credibility and driving future adoption. Inhibikase Therapeutics, Inc. uses formal scientific dissemination to communicate progress. For instance, the Company expected to present at the Jefferies Global Healthcare Conference in London on Monday, November 17th, 2025. This type of conference presentation serves as a direct channel to the investment and medical communities.

The broader scientific communication strategy relies on:

• Scientific publications in peer-reviewed journals.
• Presentations at major medical conferences.
• Public conference calls and webcasts following financial results.

Future Pharmaceutical Distribution

Upon regulatory approval, the channel shifts to commercial distribution. While specific agreements or infrastructure build-out numbers for late 2025 aren't public, the company has taken steps to prepare its commercial leadership. Inhibikase Therapeutics, Inc. appointed veteran biopharma executive Timothy Pigot as the Company's Chief Commercial and Strategy Officer. The future channel will involve established pharmaceutical supply chains, including wholesalers, specialty pharmacies, and direct sales force engagement with PAH treatment centers.

Capital Markets Access

Access to capital markets is a vital channel for funding operations, especially given the clinical burn rate. Inhibikase Therapeutics, Inc. maintains its listing on the Nasdaq under the ticker IKT. Financial data from late 2025 illustrates the market's current view and the company's cash position:

The company reported a market capitalization of $112.76 million as of December 2, 2025. The stock traded within a 52-week range of $1.33 to $4.20. For the third quarter ended September 30, 2025, the net loss was $11.9 million, or $0.13 per share. The cash position, which funds these channels, stood at $77.3 million as of September 30, 2025, down from $97.5 million at the end of 2024. On the financing front, Inhibikase Therapeutics, Inc. terminated its at-the-market offering prospectus with Jefferies, having made no stock sales under that program.

Key financial metrics related to capital access as of late 2025:

Metric	Value (as of Q3 2025 or latest reported)	Date/Period
Cash, Cash Equivalents, Marketable Securities	$77.3 million	September 30, 2025
Market Capitalization	$112.76 million	December 2, 2025
Net Loss Per Share	($0.13)	Quarter Ended September 30, 2025
52-Week Stock Low	$1.33	Latest 52-Week Period

The company also uses its investor relations website, press releases, and SEC filings as primary channels for material financial information disclosure, and it intends to use LinkedIn and YouTube as well.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Customer Segments

You're looking at the distinct groups Inhibikase Therapeutics, Inc. (IKT) needs to serve to get IKT-001, their pro-drug of imatinib mesylate, to market for Pulmonary Arterial Hypertension (PAH). These segments range from the patients who need the drug to the companies that might buy the whole program.

Patients with Pulmonary Arterial Hypertension (PAH) in need of disease-modifying therapy.

This segment is defined by a serious, progressive, life-threatening disease characterized by elevated pulmonary vascular resistance. IKT-001 is being developed for PAH, which is classified as an orphan indication. The potential patient pool is relatively small but highly concentrated in specialized centers. The clinical goal for IKT-001, based on prior imatinib data, is to achieve a 45 meter improvement in the 6-minute walk distance (6MWD).

Here's a look at the scale of the population IKT is targeting:

Metric	Value (Late 2025 Context)	Source Year/Context
Americans Affected by PAH	Approximately 50,000	2025 Data
Estimated Global Prevalent Cases	Approximately 192,000	2021 Estimate (Global Burden of Disease Study)
Global Prevalence - Female Share	62%	2021 Estimate
Global Prevalence - Male Share	38%	2021 Estimate
Global PAH Market Valuation	$8.11 billion to $8.7 billion	2025 Estimates
US PAH Market Valuation	$4 billion	2024 Data

The Phase 3 IMPROVE-PAH study design reflects the need to enroll a specific patient cohort, with Part A enrolling 140 patients and Part B enrolling 346 patients, for a total of 486 planned subjects across the adaptive design.

PAH-treating specialists, including pulmonologists and cardiologists.

These specialists are the gatekeepers who diagnose PAH and manage the complex, often multi-drug regimens. They are focused on agents that can modify the disease course, as evidenced by the market's reaction to new mechanisms like activin-signaling inhibitors. Inhibikase Therapeutics appointed Timothy Pigot as Chief Commercial and Strategy Officer in February 2025, signaling a build-out toward commercial readiness for this segment.

• Targeting specialists who manage patients on stable background PAH therapy.
• Focus on demonstrating superior efficacy in endpoints like pulmonary vascular resistance (PVR).
• The Phase 3 trial is planned to be conducted at up to approximately 180 sites globally.
• Specialists are increasingly adopting dual or triple oral regimens upfront for non-high-risk patients.

Future payers and health systems who will reimburse the drug.

Payers and health systems evaluate the cost-effectiveness and budget impact of a new therapy, especially for an orphan indication where existing therapies are costly. Inhibikase Therapeutics, Inc. is currently pre-revenue, reporting a net loss of $11.9 million for Q3 2025 and a year-to-date net loss of $35.5 million for the nine months ended September 30, 2025. The company's liquidity position is a key factor for payers assessing long-term viability.

Key financial metrics relevant to payer confidence in late 2025 include:

• Cash, cash equivalents, and marketable securities as of September 30, 2025: $77.3 million.
• Debt-to-equity ratio: 0, indicating no debt on the balance sheet.
• Market Capitalization as of November 20, 2025: $115.02 million.
• Selling, general and administrative (SG&A) expenses for the nine months ended September 30, 2025: $16.8 million.

Generous reimbursement in North America is noted as a factor driving that region's market share, which was 41% or 45% of the global market in 2024.

Biopharma companies seeking to license or acquire clinical-stage assets.

This segment evaluates the asset's clinical progress, intellectual property, and the financial runway of the developing company. Inhibikase Therapeutics is advancing IKT-001 directly into a pivotal Phase 3 study, which is expected to begin in the first quarter of 2026, potentially accelerating the FDA approval timeline by approximately 3 years compared to the previously planned Phase 2b. This move is a significant value inflection point for potential partners or acquirers. The company's recent corporate activity, including the CorHepta acquisition in February 2025, shows a willingness to execute strategic transactions. Furthermore, the company terminated its at-the-market offering prospectus with Jefferies after making no sales under that program, suggesting reliance on internal capital or strategic financing rather than public equity issuance at that moment.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Cost Structure

You're looking at the major expenditures driving Inhibikase Therapeutics, Inc. as they push IKT-001 toward late-stage trials. For a clinical-stage biotech, the cost structure is almost entirely weighted toward R&D and the necessary infrastructure to support it. Honestly, the numbers from Q3 2025 show a significant step-up in operating intensity.

The primary cost drivers are clearly R&D and SG&A, both of which saw material increases compared to the prior year, reflecting the CorHepta integration and scaling for the PAH program. Here's a quick look at the top-line operating expenses for the third quarter and the year-to-date period ending September 30, 2025.

Expense Category	Q3 2025 Amount	Nine Months Ended Sept 30, 2025 Amount
Research and Development (R&D) Expenses	$7.6 million	$23.4 million
Selling, General, and Administrative (SG&A) Expenses	$5.6 million	$16.8 million

The R&D spend for the nine months ending September 30, 2025, at $23.4 million, is more than double the $10.0 million reported for the same period in 2024. That jump isn't just from lab work; it's heavily influenced by one-time, non-cash charges related to the February 2025 CorHepta acquisition.

Specifically, you need to account for the non-cash impairment charge related to the acquired assets. That one-time hit was a $7.4 million write-off of in-process research and development (IPR&D). Also embedded in that nine-month R&D figure is $1.8 million in stock-based compensation expense tied to that same acquisition.

SG&A costs are also up significantly, hitting $5.6 million in the third quarter alone, compared to just $1.6 million in Q3 2024. The nine-month total reached $16.8 million versus $5.6 million in the prior year. This increase reflects the costs associated with building out the necessary commercial and operational infrastructure for the PAH program.

The leadership build-out is a tangible part of that SG&A increase. You can see direct costs related to executive transitions, including approximately $1.0 million in severance expenses recorded in the nine-month period ending September 30, 2025, following the transition of senior executives and the appointment of Timothy Pigot as Chief Commercial & Strategy Officer.

Clinical trial costs are a major future commitment, even if the spend is just starting to hit the books. Inhibikase Therapeutics, Inc. is scaling up for the pivotal study, which they are now calling the global Phase 3 IMPROVE-PAH trial, expected to start in Q1 2026 after transitioning from the planned Phase 2b design based on FDA feedback. You should note these specific commitments:

• Entered a clinical trial supply agreement on July 1, 2025, for the PAH study, committing approximately $6.5 million.
• The remaining contract costs as of September 30, 2025, stood at approximately $6.3 million with the supply organization.
• The Phase 3 IMPROVE-PAH study is designed to enroll up to approximately 480 patients across up to approximately 180 sites around the world.

These clinical costs are being funded by their current liquidity, which stood at $77.3 million in cash, cash equivalents, and marketable securities as of September 30, 2025. Finance: draft 13-week cash view by Friday.

Inhibikase Therapeutics, Inc. (IKT) - Canvas Business Model: Revenue Streams

You're looking at a clinical-stage company, so the revenue profile is entirely focused on non-product sources right now, primarily funding from capital markets to push IKT-001 through trials. Honestly, for a company like Inhibikase Therapeutics, Inc., the current revenue stream is almost entirely external funding.

Currently, Inhibikase Therapeutics, Inc. reports $0 in product revenue, consistent with its pre-revenue biotech status as of late 2025. For instance, the consensus revenue forecast from analysts for the full year 2025 was $0, and the actual reported revenue for the first quarter of 2025 was also $0.

The main source of operational funding is clearly capital raises. You saw a significant infusion in November 2025, where the company priced an underwritten public offering expecting to raise approximately $100 million in gross proceeds. After accounting for fees and costs associated with that November 2025 offering, the expected net proceeds were around $93.6 million. This follows a substantial financing event in October 2024, which brought in approximately $110 million in a private placement, with a potential aggregate financing of up to approximately $275 million upon the full cash exercise of accompanying warrants.

Here's a quick look at the recent cash position to show where that funding sits:

Metric	Amount	Date
Cash, Cash Equivalents, and Marketable Securities	$77.3 million	September 30, 2025
Gross Proceeds Expected from Nov 2025 Offering	Approximately $100 million	November 2025
Net Proceeds from Oct 2024 Private Placement	Approximately $110 million	October 2024

The company is actively using this capital to advance IKT-001, with the Phase 2b IMPROVE-PAH trial expected to initiate in the fourth quarter of 2025, involving approximately 150 PAH participants randomized to receive 300 mg IKT-001, 500 mg IKT-001, or placebo once daily for 26 weeks.

Regarding the out-licensed risvodetinib asset, which the company has paused its development on, there are potential future non-product revenues tied to it. For one specific collaboration agreement, the total potential milestone payments owed were listed as $5,625,000. To be fair, there was also a legal dispute where Pivot alleged breach of contract seeking damages of $1.625 million in milestone payments plus interest related to risvodetinib. Any tiered royalty payments from this out-licensed asset are not explicitly quantified in the latest public disclosures.

The ultimate, high-value revenue stream depends entirely on IKT-001's success. If IKT-001 achieves regulatory approval for Pulmonary Arterial Hypertension (PAH), Inhibikase Therapeutics, Inc. would then begin recognizing future product sales revenue. This is the long-term goal that the current capital raises are designed to fund.

The potential non-product revenue streams that could materialize are:

• Potential milestone payments from the out-licensed risvodetinib asset, with one agreement showing a total potential of $5,625,000.
• Potential tiered royalty payments on future net sales of the out-licensed asset, terms undisclosed.
• Future product sales revenue from IKT-001 upon regulatory approval and commercial launch.

Finance: draft 13-week cash view by Friday.