GANX

MKT CAP:$85M

Gain Therapeutics, Inc.

Market Cap

$85M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.89-$1.29 (-40.57%)

Apr 23, 2026

Company Details

Gain Therapeutics, Inc., a biotechnology company, engages in developing various therapies to treat diseases caused by protein misfolding. It focuses on rare genetic diseases and neurological disorders. The company uses its Site-Directed Enz...

CEO

Khalid Islam

IPO Date

Mar 19, 2021

Website

www.gaintherapeutics.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$20M

EPS (Diluted)

-$0.61

Free Cash Flow

-$18M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 26, 2026

$0EPS -$0.61

Q4 2025

Mar 26, 2026

$0EPS -$0.11

Q3 2025

Nov 12, 2025

$0EPS -$0.15

Q2 2025

Aug 12, 2025

$0EPS -$0.19

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$37.5K	-$2M	-$3M
Q2 22	$95.1K	-$2M	-$5M
Q3 22	$0	-$2M	-$5M
Q4 22	$0	-$18.1K	-$5M
Q1 23	$55.2K	-$3M	-$5M
Q2 23	$0	-$244.4K	-$8M
Q3 23	$0	-$250.5K	-$5M
Q4 23	$0	-$23.6K	-$4M
Q1 24	$0	-$2M	-$4M
Q2 24	$0	-$4M	-$8M
Q3 24	$0	-$275.4K	-$4M
Q4 24	$0	-$21.3K	-$3M
Q1 25	$0	-$2M	-$4M
Q2 25	$0	-$3M	-$5M
Q3 25	$0	-$22.8K	-$5M
Q4 25	$0	$5M	-$4M

Valuation

Quarter	P/S	P/E
Q1 22	274.4x	—
Q2 22	268.6x	—
Q3 22	235.6x	—
Q4 22	293.3x	—
Q1 23	400.6x	—
Q2 23	1049.6x	—
Q3 23	960.4x	—
Q4 23	1151.3x	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$2M	-$2M
Q2 22	-$5M	-$5M
Q3 22	-$3M	-$3M
Q4 22	-$4M	-$4M
Q1 23	-$4M	-$4M
Q2 23	-$5M	-$5M
Q3 23	-$4M	-$4M
Q4 23	-$6M	-$6M
Q1 24	-$4M	-$4M
Q2 24	-$6M	-$6M
Q3 24	-$6M	-$6M
Q4 24	-$3M	-$3M
Q1 25	-$4M	-$4M
Q2 25	-$5M	-$5M
Q3 25	-$5M	-$5M
Q4 25	-$5M	-$5M

Capital Expenditures

Quarter	CapEx
Q1 22	$7.8K
Q2 22	$44.6K
Q3 22	$57.2K
Q4 22	$9.4K
Q1 23	$11.0K
Q2 23	$3.6K
Q3 23	$650
Q4 23	$19
Q1 24	$3
Q2 24	$21.5K
Q3 24	$1
Q4 24	$945
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$3

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+612.4%	+34.5%
Q2 22	+16.5%	+46.6%
Q3 22	-100.0%	+2.1%
Q4 22	-100.0%	+40.6%
Q1 23	+47.0%	+58.9%
Q2 23	-100.0%	+46.7%
Q3 23	—	+2.8%
Q4 23	—	-3.4%
Q1 24	-100.0%	-17.2%
Q2 24	—	+5.8%
Q3 24	—	-8.7%
Q4 24	—	-24.4%
Q1 25	—	-0.2%
Q2 25	—	-37.8%
Q3 25	—	+7.3%
Q4 25	—	+34.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$306.5K	816.6%
Q2 22	$305.6K	321.3%
Q3 22	$355.6K	—
Q4 22	$558.7K	—
Q1 23	$565.4K	1024.7%
Q2 23	$1M	—
Q3 23	$907.3K	—
Q4 23	$555.1K	—
Q1 24	$190.4K	—
Q2 24	$1M	—
Q3 24	$357.5K	—
Q4 24	$359.3K	—
Q1 25	$419.5K	—
Q2 25	$522.0K	—
Q3 25	$460.0K	—
Q4 25	$401.7K	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$2M	$2M	—	—
Q2 22	$3M	$3M	—	—
Q3 22	$2M	$3M	—	—
Q4 22	$2M	—	—	$2M
Q1 23	$3M	$2M	$60.6K	—
Q2 23	$4M	$4M	—	—
Q3 23	$3M	$3M	—	—
Q4 23	$2M	—	—	$2M
Q1 24	$3M	$2M	$64.7K	—
Q2 24	$5M	$4M	$63.2K	—
Q3 24	$3M	$2M	—	—
Q4 24	$1M	—	—	$2M
Q1 25	$2M	$2M	$47.5K	—
Q2 25	$3M	$2M	$51.4K	—
Q3 25	$3M	—	—	$2M
Q4 25	$2M	$2M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$34M	$0	$34M
Q2 22	$14M	$10M	$24M
Q3 22	$11M	$12M	$23M
Q4 22	$7M	$13M	$20M
Q1 23	$6M	$12M	$18M
Q2 23	$6M	$10M	$16M
Q3 23	$4M	$8M	$12M
Q4 23	$12M	$5M	$17M
Q1 24	$11M	$2M	$13M
Q2 24	$17M	$0	$17M
Q3 24	$12M	$0	$12M
Q4 24	$10M	$0	$10M
Q1 25	$9M	$0	$9M
Q2 25	$7M	$0	$7M
Q3 25	$9M	$0	$9M
Q4 25	$21M	$0	$21M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	12M	+16.9%	+2.4%
Q2 22	12M	0.0%	+0.1%
Q3 22	12M	0.0%	+0.1%
Q4 22	12M	0.0%	+16.9%
Q1 23	12M	+0.4%	+0.4%
Q2 23	12M	+3.8%	+4.2%
Q3 23	13M	+2.5%	+6.9%
Q4 23	16M	+27.6%	+36.4%
Q1 24	18M	+10.9%	+50.6%
Q2 24	19M	+6.9%	+55.1%
Q3 24	27M	+38.1%	+108.9%
Q4 24	27M	+2.3%	+67.4%
Q1 25	29M	+5.7%	+59.6%
Q2 25	30M	+5.8%	+57.9%
Q3 25	35M	+15.3%	+31.9%
Q4 25	33M	-5.8%	+21.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$1.5K	25
Q2 22	$3.8K	25
Q3 22	$0	25
Q4 22	$0	28
Q1 23	$2.0K	28
Q2 23	$0	28
Q3 23	$0	28
Q4 23	$0	29
Q1 24	$0	29
Q2 24	$0	29
Q3 24	$0	29
Q4 24	$0	23
Q1 25	$0	23
Q2 25	$0	23
Q3 25	$0	23
Q4 25	$0	20

Revenue / Employee