** Shares of Gain Therapeutics GANX.O down ~18% to $1.40 in extended trading on planned equity raise
** Bethesda, Maryland-based firm announces offering of stock and warrants
** It expects to use net offering proceeds to continue clinical/nonclinical development of its lead product candidate GT-02287 for treatment of neurodegenerative diseases, including GBA1 Parkinson’s disease
** Newbridge Securities sole bookrunner for offering
** GANX on Tues closed down 8.6% at $1.70, down 21% YTD
** As of May 31, co had ~30.1 mln shares outstanding, per the prospectus
** All 7 analysts covering GANX are bullish and median PT is $8, latest LSEG data reflects
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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