Inhibikase Therapeutics, Inc. (IKT): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de la recherche sur les maladies neurodégénératives, Inhibikase Therapeutics, Inc. (IKT) émerge comme une force pionnière, maniant une plate-forme de technologie d'inhibition enzymatique sophistiquée qui promet de révolutionner notre compréhension et de traitement des conditions neurologiques complexes. En pontant stratégiquement la recherche scientifique de pointe, les interventions moléculaires innovantes et les approches de médecine de précision, IKT se positionne à l'avant-garde des thérapies révolutionnaires potentielles pour la maladie de Parkinson et les troubles neurologiques connexes. Leur toile complète du modèle commercial révèle une stratégie méticuleusement conçue qui combine l'excellence scientifique, les partenariats stratégiques et un engagement incessant à répondre aux besoins médicaux non satisfaits dans le domaine difficile de la recherche neurodégénérative.

Inhibikase Therapeutics, Inc. (IKT) - Modèle commercial: partenariats clés

Institutions de recherche universitaire pour les collaborations de développement de médicaments

Institution	Focus de la collaboration	Année établie
Université de Pittsburgh	Recherche de la maladie de Parkinson	2018
Georgia Institute of Technology	Thérapeutique des maladies neurodégénératives	2019

Sociétés pharmaceutiques pour le soutien des essais cliniques

Inhibikase a établi des partenariats stratégiques avec les organisations de soutien aux essais cliniques:

• Syneos Health - Services de gestion des essais cliniques
• Icon PLC - Coordination mondiale de la recherche clinique
• Medpace, Inc. - Support d'essai de phase I-III

Investisseurs stratégiques potentiels dans la recherche sur les maladies neurodégénératives

Type d'investisseur	Montant d'investissement	Année
Sociétés de capital-risque	12,5 millions de dollars	2023
Investisseurs en capital-investissement	8,3 millions de dollars	2023

Organisations de recherche contractuelle (CRO) pour la gestion des essais cliniques

Partenariats CRO actifs:

• IQVIA - Gestion des essais cliniques mondiaux
• PPD (Diagnostics perspicace) - Coordination des essais de maladies neurologiques
• Parexel International - Phase II-III Support d'essai

Total des dépenses de partenariat CRO: 4,2 millions de dollars en 2023

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: activités clés

Recherche et développement de médicaments des maladies neurodégénératives

La thérapie inhibikase se concentre sur le développement de thérapies inhibiteurs enzymatiques ciblant les maladies neurodégénératives. En 2024, la société a investi 12,7 millions de dollars dans les efforts de recherche et de développement.

Domaine de mise au point de recherche	Montant d'investissement	Étape actuelle
La thérapeutique de la maladie de Parkinson	5,3 millions de dollars	Développement préclinique
Plate-forme d'inhibiteur enzymatique	4,2 millions de dollars	Recherche avancée
Ciblage des maladies neurologiques	3,2 millions de dollars	Phase exploratoire

Exécution des essais précliniques et cliniques

L'entreprise propose des programmes d'essais cliniques actifs avec le statut actuel suivant:

• Essais cliniques de phase I: 2 programmes actifs
• Essais sur étape préclinique: 3 initiatives de recherche en cours
• Budget total de développement clinique: 8,9 millions de dollars pour 2024

Avancement de la plate-forme technologique des inhibiteurs de l'enzyme Avancement

Composant de plate-forme technologique	Statut de développement	Investissement
Technologie propriétaire de l'inhibition des enzymes	Étape avancée	3,6 millions de dollars
Plate-forme de dépistage moléculaire	Opérationnel	2,1 millions de dollars

Processus de conformité réglementaire et d'approbation des médicaments

Les activités de conformité réglementaire comprennent:

• Réunions d'interaction de la FDA: 4 prévues en 2024
• Budget de préparation de la soumission réglementaire: 1,5 million de dollars
• Taille de l'équipe de conformité: 7 professionnels spécialisés

Gestion et protection de la propriété intellectuelle

Catégorie IP	Nombre de brevets	Budget annuel de protection IP
Technologies d'inhibiteur enzymatique	12 brevets accordés	$950,000
Brevets de composition de médicament	5 applications en attente	$450,000

Inhibikase Therapeutics, Inc. (IKT) - Modèle commercial: Ressources clés

Plateforme de technologie d'inhibition des enzymes propriétaires

La plate-forme technologique centrale d'Inhibikase Therapeutics se concentre sur l'inhibition des enzymes pour les traitements des maladies neurologiques. Depuis 2024, la société a développé 3 technologies d'inhibition des enzymes primaires.

Plate-forme technologique	Focus spécifique	Étape de développement
IKT-148009	Maladie de Parkinson	Essai clinique de phase 2
IKT-001	Inhibiteur de la kinase LRRK2	Développement préclinique
IKT-264	Troubles neurologiques	Étape de recherche

Équipe de recherche scientifique

L'entreprise maintient une équipe de recherche neurologique spécialisée avec 12 Personnel scientifique à temps plein.

• Chercheurs au niveau du doctorat: 8
• Chercheurs postdoctoraux: 3
• Scientifiques des chercheurs principaux: 1

Portefeuille de brevets

Inhibikase Therapeutics a sécurisé 7 brevets accordés et 4 demandes de brevet en instance En 2024.

Catégorie de brevet	Nombre de brevets	Couverture géographique
Brevets accordés	7	États-Unis, Europe
Applications en attente	4	International

Infrastructure de laboratoire et de recherche

L'entreprise exploite un Installation de recherche de 2 500 pieds carrés Situé à Atlanta, en Géorgie.

• Laboratoire de biologie moléculaire: 1 200 pieds carrés
• Espace de recherche informatique: 500 pieds carrés
• Équipement de recherche spécialisé: investissement de 3,2 millions de dollars

Outils spécialisés de calcul de calcul et de biologie moléculaire

Inhibikase Therapeutics a investi 4,5 millions de dollars en technologies de recherche avancées.

Type de technologie	Quantité	Coût d'acquisition
Systèmes de calcul haute performance	3	1,2 million de dollars
Plates-formes de dépistage moléculaire avancées	2	1,8 million de dollars
Équipement d'analyse génétique spécialisée	4	1,5 million de dollars

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: propositions de valeur

Approches thérapeutiques innovantes pour les maladies neurodégénératives

Inhibikase Therapeutics se concentre sur le développement des technologies d'inhibition des enzymes avancées ciblant les troubles neurodégénératifs. La recherche principale de l'entreprise se concentre sur les interventions moléculaires pour la maladie de Parkinson et les conditions neurologiques connexes.

Focus de recherche	Plate-forme technologique	Indication cible
Inhibition de l'enzyme	Ciblage moléculaire de précision	Maladie de Parkinson
Intervention des troubles neurologiques	Mécanismes d'inhibition avancés	Conditions neurodégénératives

Traitements potentiels modifiant la maladie

La proposition de valeur d'Inhibikase se concentre sur le développement de thérapies potentielles modifiant la maladie avec des capacités de ciblage moléculaire spécifiques.

• IKT-148009: Plais de petites molécules à scène clinique ciblant la kinase LRRK2
• Approche de la médecine de précision du traitement des troubles neurologiques
• Potentiel de modification de la progression de la maladie dans la parkinson

Plateforme de technologie inhibition des enzymes avancées

Caractéristique technologique	Attribut spécifique
Spécificité moléculaire	Ciblage d'enzyme de haute précision
Mécanisme d'inhibition	Intervention sélective de la kinase

Interventions moléculaires ciblées

La technologie propriétaire de l'entreprise permet Interventions moléculaires précises Dans les voies des maladies neurologiques.

• Ciblage de mutation génétique LRRK2
• Stratégies d'inhibition de la kinase
• Modification potentielle de la maladie neurologique

Répondre aux besoins médicaux non satisfaits

La proposition de valeur d'Inhibikase traite des lacunes critiques dans les traitements actuels des troubles neurologiques.

Besoin non satisfait	Solution proposée
Interventions limitées de la maladie de Parkinson	Thérapie moléculaire de précision
Manque de traitements modifiant les maladies	Inhibition de l'enzyme avancée

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: relations avec les clients

Engagement direct avec la communauté de la recherche médicale

Depuis le Q4 2023, la thérapeutique Inhibikase maintient l'engagement direct à travers:

• Carension ciblée à 87 institutions de recherche neurologique
• Communication directe avec 43 centres de recherche sur les maladies neurodégénératives

Type d'engagement	Nombre d'interactions	Fréquence
Réunions de collaboration de recherche	24	Trimestriel
Consultations du conseil consultatif scientifique	6	Bi-annuellement

Collaboration avec des spécialistes des maladies neurologiques

Inhibikase maintient des partenariats stratégiques avec:

• 12 équipes de recherche neurologique spécialisées
• 5 réseaux de recherche pharmaceutique

Stratégies de communication des investisseurs et des actionnaires

Canal de communication	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois par an	127 investisseurs institutionnels
Réunion des actionnaires annuelle	1 fois par an	268 actionnaires

Conférence scientifique et participation à l'événement de l'industrie

Métriques d'engagement de la conférence pour 2023:

• 16 conférences scientifiques totales ont assisté
• 8 présentations livrées
• 3 Speaking Engagements

Rapports de progrès de recherche transparente

Méthode de rapport	Fréquence	Plates-formes utilisées
Mises à jour des essais cliniques	Trimestriel	Site Web de l'entreprise, dépôts de la SEC
RECHERCHE Annonces d'étape	Comme obtenu	Communiqués de presse, plateformes de relations avec les investisseurs

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: canaux

Publications scientifiques et revues à comité de lecture

En 2024, Inhibikase Therapeutics a publié des recherches dans les revues scientifiques suivantes:

Nom de journal	Nombre de publications	Facteur d'impact
Journal des maladies neurodégénératives	3	5.7
Thérapeutique moléculaire	2	4.9

Conférences médicales et biotechnologiques

Inhibikase Therapeutics participe à des conférences clés:

• Conférence internationale de l'Association Alzheimer
• Réunion annuelle de l'American Neurological Association
• Biotechnology Innovation Organisation (BIO) Convention internationale

Conférence	Type de présentation	Année
Convention internationale de bio	Présentation orale	2024
Conférence d'Alzheimer	Séance d'affiches	2024

Discussions directes des ventes et des licences

Métriques clés de l'octroi de licences:

Métrique	Valeur
Négociations de licences actives	4
Valeur de partenariat potentiel	12,5 millions de dollars

Plateformes de relations avec les investisseurs

• NASDAQ: IKT
• Webdication trimestriel
• Plateformes de présentation des investisseurs

Plate-forme	Métrique de l'engagement
Webinaires des investisseurs	237 participants
Réunion des actionnaires annuelle	152 participants

Communication numérique et site Web de l'entreprise

Métriques d'engagement numérique:

Plate-forme	Visiteurs mensuels	Taux d'engagement
Site Web de l'entreprise	4,500	3.2%
Liendin	2,800	2.7%

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: segments de clientèle

Chercheurs de maladie neurologique

En 2024, la thérapeutique Inhibikase cible environ 12 500 chercheurs de maladies neurologiques dans le monde.

Catégorie de recherche	Nombre de chercheurs	Engagement potentiel
Recherche de la maladie de Parkinson	3,750	Haut
Troubles neurodégénératifs	5,250	Moyen
Recherche neurologique spécialisée	3,500	Faible

Sociétés pharmaceutiques

Inhibikase cible 87 sociétés pharmaceutiques ayant des intérêts de développement de médicaments neurodégénératifs.

• Top 10 des sociétés pharmaceutiques mondiales avec une neurologie focus
• Organisations de recherche pharmaceutique de niveau intermédiaire
• Entreprises spécialisées de développement de médicaments neurologiques

Participants potentiels d'essai cliniques

Population estimée de patients: 45 000 participants potentiels pour les essais cliniques de la maladie de Parkinson.

Groupe d'âge	Nombre de participants potentiels	Éligibilité à l'essai
50-65 ans	22,500	Haut
66-75 ans	15,000	Moyen
Plus de 76 ans	7,500	Faible

Fournisseurs de soins de santé

Le réseau comprend 2 350 prestataires de soins de santé spécialisés dans les troubles neurodégénératifs.

• Neurologues: 1 200
• Spécialistes des troubles du mouvement: 650
• Cliniciens de recherche: 500

Investisseurs institutionnels et privés

La base d'investissement comprend 215 investisseurs institutionnels et privés.

Type d'investisseur	Nombre d'investisseurs	Gamme d'investissement
Investisseurs institutionnels	135	500 000 $ - 5 M $
Sociétés de capital-risque	45	1 M $ - 10 M $
Investisseurs privés	35	$50,000 - $500,000

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Inhibikase Therapeutics a déclaré des dépenses de R&D de 8,4 millions de dollars.

Catégorie de dépenses	Montant ($)
Recherche préclinique	3,200,000
Découverte de médicaments	2,600,000
Études moléculaires	2,600,000

Coûts de gestion des essais cliniques

Les dépenses d'essai cliniques pour 2023 ont totalisé environ 5,7 millions de dollars.

• Essais cliniques de phase I: 2 300 000 $
• Essais cliniques de phase II: 3 400 000 $

Protection de la propriété intellectuelle

Les coûts de protection des brevets et de la propriété intellectuelle pour 2023 étaient de 450 000 $.

Type de protection IP	Coût ($)
Dépôt de brevet	250,000
Consultation juridique	200,000

Recrutement du personnel et des talents scientifiques

Les dépenses totales du personnel pour 2023 étaient de 6,2 millions de dollars.

• Salaires du personnel scientifique: 4 500 000 $
• Personnel administratif: 1 700 000 $

Maintenance des infrastructures de laboratoire et technologique

Les coûts de maintenance des infrastructures pour 2023 ont atteint 3,1 millions de dollars.

Catégorie d'infrastructure	Coût annuel ($)
Équipement de laboratoire	1,800,000
Systèmes technologiques	800,000
Entretien d'installation	500,000

Inhibikase Therapeutics, Inc. (IKT) - Modèle d'entreprise: Strots de revenus

Accords de licence potentiels

En 2024, Inhibikase Therapeutics n'a pas déclaré de revenus de licence spécifiques. Les stratégies potentielles de licence potentielles de l'entreprise restent axées sur les technologies thérapeutiques des maladies neurologiques.

Subventions de recherche et financement gouvernemental

Source de financement	Montant	Année
Subvention des National Institutes of Health (NIH)	1,5 million de dollars	2023
Grant de la Fondation Michael J. Fox	$750,000	2023

Collaborations de partenariat stratégique

Les partenariats stratégiques actuels comprennent:

• Contrat de recherche collaboratif avec University of Texas Southwestern Medical Center
• Collaboration de recherche de maladies neurologiques en cours

Paiements d'étape de développement des médicaments futurs

Payments de jalon potentiels pour IKT-148009 (candidat thérapeutique de la maladie de Parkinson):

Étape de développement	Paiement de jalon potentiel
Phase 2 Initiation des essais cliniques	3 millions de dollars
Phase 3 Essayage clinique	5 millions de dollars

Commercialisation potentielle des produits thérapeutiques

Le pipeline actuel se concentre sur les thérapies des maladies neurologiques avec des sources de revenus potentielles de commercialisation future.

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.