Leap Therapeutics (LPTX) shares jumped 25% after the microcap cancer drug developer announced a $58.9 million private investment led by Winklevoss Capital to fund a crypto treasury initiative.
The investment, structured as a private placement, includes common shares and warrants at $0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also gain two seats on Leap’s board.
Leap, recognized for its immuno-oncology therapies, said part of the capital will be used to purchase cryptocurrency for its balance sheet, while the remainder will support ongoing clinical development of its drug candidates. The company did not disclose which digital assets it plans to acquire.
The deal places Leap among a growing number of public companies adopting crypto as a treasury reserve. Additional details on its digital asset strategy are expected soon.
Shares were trading up 25% in Monday morning session.
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