Company: GANX
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001104659-25-068103
Chunk: 13

Company: Gain Therapeutics, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 13
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 prospectus supplement or sections titled “Risk Factors” in the documents incorporated by reference in this prospectus supplement for a discussion of factors to consider before deciding to invest in our securities.

#### Lock Ups
Our officers and directors have agreed with the underwriter, subject to certain exceptions, for a period of 90 days from the date of this prospectus, not to sell, transfer or otherwise dispose of, directly or indirectly, any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of capital stock. See “Underwriting” for more information.

#### The Nasdaq Global Market symbol
“GANX.” There is no established trading market for the Pre-Funded Warrants or the Common Warrants, and we do not expect a market to develop. We do not intend to apply for a listing for any Pre-Funded Warrants or Common Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Pre-Funded Warrants and the Common Warrants will be limited.

The number of shares of our common stock that will be outstanding after this offering is based on 30,070,180 shares outstanding as of May 31, 2025, which does not include the following, all as of May 31, 2025:

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5,480,487 shares of common stock issuable upon the exercise of outstanding warrants to purchase shares of common stock with a weighted-average exercise price of $2.44 per share;

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91,149 shares of common stock issuable upon the vesting of outstanding restricted stock units;

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4,234,920 shares issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $3.81 per share;

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1,470,275 shares reserved for future grants, awards, and issuances under our equity compensation plans;

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shares of our common stock issuable upon exercise of the accompanying Common Warrants to be issued in this offering; and

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shares of our common stock issuable upon exercise of the Underwriter Warrants to be issued in this offering.

Except as otherwise noted, all information in this prospectus assumes the exercise in full of all Pre-Funded Warrants sold in this offering, no exercise by the underwriter of its option to purchase additional securities from us, no exercise of outstanding options or warrants to purchase common stock (including the Common Warrants sold in this offering) and no issuance of