Benzinga | Sep 8, 2021 03:51PM EDT

Why Gain Therapeutics Shares Are Trading Higher Today

Gain Therapeutics Inc (NASDAQ:GANX) are trading higher Wednesday after the company announced positive topline data in a patient-derived iPSC study evaluating STAR compounds as a treatment for Gaucher and Parkinson's disease.

Gain Therapeutics identified the two lead STAR candidates through its proprietary SEE-Tx platform.

The company said the compounds were characterized in assays to potentially help Parkinson's patients with GBA1 gene mutations as well as patients whose glucocerebrosidase protein is misfolded due to ageing cellular processes.

"These data are extremely exciting, as it further demonstrates the potential of GT-02287 and GT-02329 and expands the body of evidence supporting our SEE-Tx drug discovery platform," said Eric Richman, CEO of Gain Therapeutics.

"We plan to fully evaluate the results of this study and present a complete data set on the upcoming Michael J. Fox Foundation's Innovating from Drug Discovery to the Clinic: Novel Approaches to PD Therapeutic Development webinar," he added.

Gain Therapeutics is a development-stage biotechnology company developing novel therapeutics to treat diseases caused by protein misfolding.

GANX Price Action: Gain Therapeutics has traded as high as $17.93 and as low as $7.50 over a 52-week period.

The stock was up 15.10% at $9.08 at time of publication.

Photo: Konstantin Kolosov from Pixabay.