Inhibikase Therapeutics, Inc. (IKT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución de la investigación de la enfermedad neurodegenerativa, Inhibikase Therapeutics, Inc. (IKT) emerge como una fuerza pionera, empuñando una plataforma de tecnología de inhibición enzimática sofisticada que promete revolucionar nuestra comprensión y tratamiento de condiciones neurológicas complejas. Al unir estratégicamente la investigación científica de vanguardia, las intervenciones moleculares innovadoras y los enfoques de medicina de precisión, IKT se está posicionando a la vanguardia de posibles terapias innovadoras para la enfermedad de Parkinson y los trastornos neurológicos relacionados. Su lienzo de modelo de negocio integral revela una estrategia meticulosamente elaborada que combina la excelencia científica, las asociaciones estratégicas y un compromiso implacable para abordar las necesidades médicas no satisfechas en el reino desafiante de la investigación neurodegenerativa.

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocios: asociaciones clave

Instituciones de investigación académica para colaboraciones de desarrollo de medicamentos

Institución	Enfoque de colaboración	Año establecido
Universidad de Pittsburgh	Investigación de enfermedades de Parkinson	2018
Instituto de Tecnología de Georgia	Terapéutica de la enfermedad neurodegenerativa	2019

Empresas farmacéuticas para el apoyo de ensayos clínicos

Inhibikase ha establecido asociaciones estratégicas con organizaciones de apoyo de ensayos clínicos:

• Syneos Health - Servicios de gestión de ensayos clínicos
• ICON PLC - Coordinación global de investigación clínica
• Medpace, Inc. - Soporte de prueba de fase I -III

Inversores estratégicos potenciales en investigación de enfermedades neurodegenerativas

Tipo de inversor	Monto de la inversión	Año
Empresas de capital de riesgo	$ 12.5 millones	2023
Inversores de capital privado	$ 8.3 millones	2023

Organizaciones de investigación por contrato (CRO) para gestión de ensayos clínicos

Asociaciones activas de CRO:

• IQVIA - Gestión de ensayos clínicos globales
• PPD (diagnóstico perceptivo) - Coordinación del ensayo de enfermedad neurológica
• Parexel International - Soporte de prueba de fase II -III

Gasto total de asociación CRO: $ 4.2 millones en 2023

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: actividades clave

Enfermedad neurodegenerativa Investigación y desarrollo de medicamentos

La terapéutica de inhibikasa se centra en el desarrollo de terapias inhibidoras de enzimas dirigidas a enfermedades neurodegenerativas. A partir de 2024, la compañía ha invertido $ 12.7 millones en esfuerzos de investigación y desarrollo.

Área de enfoque de investigación	Monto de la inversión	Etapa actual
Terapéutica de la enfermedad de Parkinson	$ 5.3 millones	Desarrollo preclínico
Plataforma de inhibidor de enzimas	$ 4.2 millones	Investigación avanzada
Dirección de enfermedad neurológica	$ 3.2 millones	Fase exploratoria

Ejecución de ensayos preclínicos y clínicos

La Compañía tiene programas de ensayos clínicos activos con el siguiente estado actual:

• Ensayos clínicos de fase I: 2 programas activos
• Ensayos de etapa preclínica: 3 iniciativas de investigación en curso
• Presupuesto total de desarrollo clínico: $ 8.9 millones para 2024

Avance de la plataforma de tecnología de inhibidores de la enzima

Componente de plataforma tecnológica	Estado de desarrollo	Inversión
Tecnología de inhibición de la enzima patentada	Etapa avanzada	$ 3.6 millones
Plataforma de detección molecular	Operacional	$ 2.1 millones

Cumplimiento regulatorio y procesos de aprobación de medicamentos

Las actividades de cumplimiento regulatoria incluyen:

• Reuniones de interacción de la FDA: 4 programados en 2024
• Presupuesto de preparación de presentación regulatoria: $ 1.5 millones
• Tamaño del equipo de cumplimiento: 7 profesionales especializados

Gestión y protección de la propiedad intelectual

Categoría de IP	Número de patentes	Presupuesto anual de protección de IP
Tecnologías de inhibidores enzimáticos	12 patentes otorgadas	$950,000
Patentes de composición de drogas	5 aplicaciones pendientes	$450,000

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: recursos clave

Plataforma de tecnología de inhibición de la enzima patentada

La plataforma de tecnología central de inhibikase Therapeutics se centra en la inhibición enzimática para los tratamientos de enfermedades neurológicas. A partir de 2024, la compañía ha desarrollado 3 tecnologías de inhibición enzimática primaria.

Plataforma tecnológica	Enfoque específico	Etapa de desarrollo
IKT-148009	Enfermedad de Parkinson	Ensayo clínico de fase 2
IKT-001	Inhibidor de quinasa lrrk2	Desarrollo preclínico
IKT-264	Trastornos neurológicos	Etapa de investigación

Equipo de investigación científica

La compañía mantiene un equipo de investigación neurológica especializada con 12 personal científico a tiempo completo.

• Investigadores a nivel de doctorado: 8
• Investigadores postdoctorales: 3
• Científicos de investigación senior: 1

Cartera de patentes

La terapéutica de inhibikase ha asegurado 7 patentes otorgadas y 4 solicitudes de patentes pendientes a partir de 2024.

Categoría de patente	Número de patentes	Cobertura geográfica
Patentes concedidas	7	Estados Unidos, Europa
Aplicaciones pendientes	4	Internacional

Infraestructura de laboratorio e investigación

La compañía opera un Centro de investigación de 2.500 pies cuadrados Ubicado en Atlanta, Georgia.

• Laboratorio de Biología Molecular: 1.200 pies cuadrados
• Espacio de investigación computacional: 500 pies cuadrados
• Equipo de investigación especializado: inversión de $ 3.2 millones

Herramientas especializadas de biología computacional y molecular

La terapéutica de inhibikase ha invertido $ 4.5 millones en tecnologías de investigación avanzadas.

Tipo de tecnología	Cantidad	Costo de adquisición
Sistemas computacionales de alto rendimiento	3	$ 1.2 millones
Plataformas de detección molecular avanzadas	2	$ 1.8 millones
Equipo de análisis genético especializado	4	$ 1.5 millones

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: propuestas de valor

Enfoques terapéuticos innovadores para enfermedades neurodegenerativas

La terapéutica de inhibikasa se centra en el desarrollo de tecnologías avanzadas de inhibición enzimática dirigida a los trastornos neurodegenerativos. La investigación principal de la compañía se concentra en intervenciones moleculares para la enfermedad de Parkinson y las afecciones neurológicas relacionadas.

Enfoque de investigación	Plataforma tecnológica	Indicación objetivo
Inhibición enzimática	Orientación molecular de precisión	Enfermedad de Parkinson
Intervención del trastorno neurológico	Mecanismos de inhibición avanzados	Condiciones neurodegenerativas

Tratamientos potenciales modificadores de la enfermedad

La propuesta de valor de inhibikase se centra en el desarrollo de posibles terapias modificadoras de enfermedades con capacidades de orientación molecular específicas.

• IKT-148009: Molécula pequeña de etapa clínica principal dirigida a LRRK2 quinasa
• Enfoque de medicina de precisión para el tratamiento del trastorno neurológico
• Potencial para modificar la progresión de la enfermedad en Parkinson

Plataforma de tecnología de inhibición enzimática avanzada

Tecnología característica	Atributo específico
Especificidad molecular	Focalización de enzimas de alta precisión
Mecanismo de inhibición	Intervención de quinasa selectiva

Intervenciones moleculares dirigidas

La tecnología patentada de la compañía permite intervenciones moleculares precisas en vías de enfermedad neurológica.

• Mutación genética LRRK2 Funda
• Estrategias de inhibición de la quinasa
• Modificación potencial de la enfermedad neurológica

Abordar las necesidades médicas no satisfechas

La propuesta de valor de inhibikase aborda brechas críticas en los tratamientos de trastorno neurológico actuales.

Necesidad insatisfecha	Solución propuesta
Intervenciones de enfermedad limitadas de Parkinson	Terapia molecular de precisión
Falta de tratamientos modificadores de la enfermedad	Inhibición de la enzima avanzada

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: relaciones con los clientes

Compromiso directo con la comunidad de investigación médica

A partir del cuarto trimestre de 2023, Inhibikase Therapeutics mantiene la participación directa a través de:

• Alcance dirigido a 87 instituciones de investigación neurológica
• Comunicación directa con 43 centros de investigación de enfermedades neurodegenerativas

Tipo de compromiso	Número de interacciones	Frecuencia
Reuniones de colaboración de investigación	24	Trimestral
Consultas de la Junta Asesora Científica	6	By-anualmente

Colaboración con especialistas en enfermedades neurológicas

Inhibikase mantiene asociaciones estratégicas con:

• 12 equipos especializados de investigación neurológica
• 5 redes de investigación farmacéutica

Estrategias de comunicación de inversores y accionistas

Canal de comunicación	Frecuencia	Alcanzar
Llamadas de ganancias trimestrales	4 veces anualmente	127 inversores institucionales
Reunión anual de accionistas	1 vez por año	268 accionistas

Conferencia científica y participación en eventos de la industria

Métricas de compromiso de la conferencia para 2023:

• 16 Conferencias científicas totales asistidas
• 8 presentaciones entregadas
• 3 compromisos de habla clave

Informes de progreso de investigación transparente

Método de informes	Frecuencia	Plataformas utilizadas
Actualizaciones de ensayos clínicos	Trimestral	Sitio web de la empresa, presentaciones de la SEC
Anuncios de hitos de investigación	Como lo logró	Comunicados de prensa, plataformas de relaciones con los inversores

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: canales

Publicaciones científicas y revistas revisadas por pares

A partir de 2024, Inhibikase Therapeutics ha publicado investigaciones en las siguientes revistas científicas:

Nombre del diario	Número de publicaciones	Factor de impacto
Revista de enfermedades neurodegenerativas	3	5.7
Terapéutica molecular	2	4.9

Conferencias médicas y biotecnológicas

La terapéutica de inhibikase participa en conferencias clave:

• Conferencia internacional de la Asociación de Alzheimer
• Reunión anual de la Asociación Neurológica Americana
• Convención Internacional de la Organización de Innovación Biotecnología (BIO)

Conferencia	Tipo de presentación	Año
Convención BiO International	Presentación oral	2024
Conferencia de Alzheimer	Sesión de póster	2024

Discusiones directas de ventas y licencias

Métricas clave de licencias:

Métrico	Valor
Negociaciones de licencias activas	4
Valor de asociación potencial	$ 12.5 millones

Plataformas de relaciones con los inversores

• Nasdaq: ikt
• Transmisión web de ganancias trimestrales
• Plataformas de presentación de inversores

Plataforma	Métrico de compromiso
Seminarios web de inversores	237 participantes
Reunión anual de accionistas	152 asistentes

Sitio web de comunicación digital y empresa

Métricas de compromiso digital:

Plataforma	Visitantes mensuales	Tasa de compromiso
Sitio web de la empresa	4,500	3.2%
LinkedIn	2,800	2.7%

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: segmentos de clientes

Investigadores de enfermedades neurológicas

A partir de 2024, la terapéutica de inhibikasa se dirige a aproximadamente 12.500 investigadores de enfermedades neurológicas a nivel mundial.

Categoría de investigación	Número de investigadores	Compromiso potencial
Investigación de enfermedades de Parkinson	3,750	Alto
Trastornos neurodegenerativos	5,250	Medio
Investigación neurológica especializada	3,500	Bajo

Compañías farmacéuticas

Inhibikase se dirige a 87 compañías farmacéuticas con intereses de desarrollo de fármacos neurodegenerativos.

• Las 10 principales compañías farmacéuticas globales con enfoque neurológico
• Organizaciones de investigación farmacéutica de nivel medio
• Empresas de desarrollo de medicamentos neurológicos especializados

Participantes potenciales de ensayos clínicos

Población de pacientes estimada: 45,000 participantes potenciales para los ensayos clínicos de la enfermedad de Parkinson.

Grupo de edad	Número de posibles participantes	Elegibilidad de prueba
50-65 años	22,500	Alto
66-75 años	15,000	Medio
76+ años	7,500	Bajo

Proveedores de atención médica

La red incluye 2.350 proveedores de atención médica especializados en trastornos neurodegenerativos.

• Neurólogos: 1.200
• Especialistas en trastorno del movimiento: 650
• Clínicos de investigación: 500

Inversores institucionales y privados

La base de inversiones comprende 215 inversores institucionales y privados.

Tipo de inversor	Número de inversores	Rango de inversión
Inversores institucionales	135	$ 500,000 - $ 5M
Empresas de capital de riesgo	45	$ 1M - $ 10M
Inversores privados	35	$50,000 - $500,000

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocio: estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Inhibikase Therapeutics reportó gastos de I + D de $ 8,4 millones.

Categoría de gastos	Monto ($)
Investigación preclínica	3,200,000
Descubrimiento de drogas	2,600,000
Estudios moleculares	2,600,000

Costos de gestión de ensayos clínicos

Los gastos de ensayo clínico para 2023 totalizaron aproximadamente $ 5.7 millones.

• Ensayos clínicos de fase I: $ 2,300,000
• Ensayos clínicos de fase II: $ 3,400,000

Protección de propiedad intelectual

Los costos de protección de patentes y IP para 2023 fueron de $ 450,000.

Tipo de protección de IP	Costo ($)
Presentación de patentes	250,000
Consulta legal	200,000

Personal y reclutamiento de talento científico

Los gastos totales de personal para 2023 fueron de $ 6.2 millones.

• Salarios del personal científico: $ 4,500,000
• Personal administrativo: $ 1,700,000

Mantenimiento de infraestructura de laboratorio y tecnología

Los costos de mantenimiento de la infraestructura para 2023 alcanzaron los $ 3.1 millones.

Categoría de infraestructura	Costo anual ($)
Equipo de laboratorio	1,800,000
Sistemas tecnológicos	800,000
Mantenimiento de la instalación	500,000

Inhibikase Therapeutics, Inc. (IKT) - Modelo de negocios: flujos de ingresos

Posibles acuerdos de licencia

A partir de 2024, la terapéutica de inhibikase no ha informado de ingresos específicos de licencia. Las posibles estrategias de licencia de la compañía se centran en las tecnologías terapéuticas de la enfermedad neurológica.

Subvenciones de investigación y financiación del gobierno

Fuente de financiación	Cantidad	Año
Subvención de los Institutos Nacionales de Salud (NIH)	$ 1.5 millones	2023
Subvención de la Fundación Michael J. Fox	$750,000	2023

Colaboraciones de asociación estratégica

Las asociaciones estratégicas actuales incluyen:

• Acuerdo de investigación colaborativa con el Centro Médico Southwestern de la Universidad de Texas
• Colaboración de investigación de enfermedades neurológicas continuas

Pagos de hitos de desarrollo de medicamentos futuros

Pagos potenciales de hitos para IKT-148009 (candidato terapéutico de la enfermedad de Parkinson):

Etapa de desarrollo	Pago potencial de hito
Iniciación de ensayo clínico de fase 2	$ 3 millones
Fase 3 de finalización del ensayo clínico	$ 5 millones

Comercialización potencial de productos terapéuticos

La tubería actual se centra en la terapéutica de enfermedades neurológicas con posibles flujos de ingresos de comercialización futuros.

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.