Leap Therapeutics (LPTX) shares surged 25% after announcing a $58.9 million private placement led by Winklevoss Capital to fund a new crypto treasury initiative.
The investment includes common shares and warrants priced at $0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also gain two seats on Leap’s board.
The company, known for its immuno-oncology therapies, said part of the proceeds will be used to acquire cryptocurrency for its balance sheet, while the remainder will support clinical development of its drug candidates. The specific cryptocurrencies to be purchased were not disclosed.
Leap joins a growing number of public companies holding crypto as a treasury reserve. The company plans to provide further details on its digital asset strategy in the near future.
Shares were up 25% in Monday morning trading.
