Leap therapeutics (LPTX) shares up 25% after the Microcap Cancer drug developer announced a $ 58.9 million private investment led by Winklevoss Capital to kick off a crypto treasury approach.
The investment, structured as a private placement, Includes common shares and warrants Already -priced at $ 0.61439 per unit. The Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also get two board seats on Leap.
Exactly which cryptos can be sold will not be disclosed.
The jump, known for immuno-oncology therapies, said it would use a part of the capital to buy cryptocurrency as part of a longer plan to hold the crypto on its balance sheet. The rest will support the clinical development of its drug candidates.
Deal areas jumped into a growing list of public companies that use crypto as a treasury reserve. Leap said more details on the approach to this digital asset will be announced in the near future and does not detail which properties it plans to obtain.
Shares are 25% higher on Monday morning trading in the morning.
