Shares of Leap Therapeutics (LPTX) climbed 25% after the microcap most cancers drug developer introduced a $58.9 million non-public funding led by Winklevoss Capital to kickstart a crypto treasury technique.
The funding, structured as a non-public placement, consists of widespread shares and warrants priced at $0.61439 per unit. Winklevoss Capital, based by Cameron and Tyler Winklevoss, may even achieve two board seats at Leap.
Precisely which cryptos could be bought was not disclosed.
Leap, recognized for its immuno-oncology therapies, stated it’ll use a portion of the capital to buy cryptocurrency as a part of a longer-term plan to carry crypto on its stability sheet. The remainder will assist medical growth of its drug candidates.
The deal locations Leap amongst a rising record of public corporations utilizing crypto as a treasury reserve. Leap stated extra particulars on its digital asset technique will likely be introduced within the close to future and didn’t element which belongings it plans on buying.
Shares had been increased by 25% in Monday morning commerce.
