Company: GANX
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001104659-25-068103
Chunk: 1

Company: Gain Therapeutics, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 1
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 owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding shares of common stock following the consummation of this offering. A holder of Pre-Funded Warrants will not have the right to exercise any portion of its Pre-Funded Warrants if the holder, together with its affiliates and certain related parties, would beneficially own in excess of 4.99% (or, at the election of the holder, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to such exercise. The public offering price for each set of two Pre-Funded Warrants and accompanying Common Warrant to purchase one share of common stock is $ (the combined offering price per share of two shares of common stock and accompanying Common Warrant, less $0.0001), yielding an effective price of $ Pre-Funded Warrant to purchase one share of common stock and $ per Common Warrant. The Pre-Funded Warrants will be exercisable upon issuance at an exercise price of $0.0001 per share of Common Stock and will expire when exercised in full. See “ Description of Securities We Are Offering ” in this prospectus supplement for additional information. The shares of common stock and Pre-Funded Warrants, and the accompanying Common Warrants, can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance. This offering also relates to the shares of common stock issuable upon the exercise of the Pre-Funded Warrants and Common Warrants.

Our common stock is traded on the Nasdaq Global Market under the symbol “GANX.” The last reported sale price of our common stock on July 14, 2025 was $1.86 per share. There is no established public trading market for the Common Warrants or Pre-Funded Warrants, and we do not expect a market to develop. We do not intend to apply for listing of the Common Warrants or Pre-Funded Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Common Warrants and Pre-Funded Warrants will be limited.

Investing in these securities involves a high degree of risk. Before buying shares of our common stock, you should carefully consider the risk factors described in “Risk Factors” beginning on page S-10of this prospectus supplement and in the risks discussed under similar headings in the documents incorporated by reference into this prospectus supplement and the accompanying prospect