Company: GANX
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001104659-25-068103
Chunk: 26

Company: Gain Therapeutics, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 26
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 price per share and accompanying Common Warrant         | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ |   | ​ | ​ |
| ​ | Net tangible book value per share as of March 31, 2025                            | ​ | ​ | ​ | $ | 0.16 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
| ​ | Increase in net tangible book value per share attributable to the offering        | ​ | ​ | ​ | $ |      | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
| ​ | As adjusted net tangible book value per share after giving effect to the offering | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ |   | ​ | ​ |
| ​ | Dilution in net tangible book value per share to new investors                    | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ | ​ | ​ | ​ |

If the underwriter exercises in full its option to purchase additional securities in this offering, our net tangible book value after the offering would be $ million, or approximately $ per share, the increase in the net tangible book value to existing stockholders would be $ per share, and the dilution to new investors purchasing securities in this offering would be $ per share. The number of shares of our common stock to be outstanding immediately after this offering is based on 28,746,041 shares of our common stock outstanding as of March 31, 2025, and excludes the following, in each case as of such date: • 5,680,487 shares of common stock issuable upon the exercise of outstanding warrants to purchase shares of common stock with a weighted-average exercise price of $2.84 per share; • 91,149 shares of common stock issuable upon the vesting of outstanding restricted stock units; • 4,236,420 shares issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $3.81 per share; • 1,468,775 shares reserved for future issuances under our equity compensation plans; • shares of our common stock issuable upon exercise of the Common Warrants to be issued in this offering; and • shares of our common stock issuable upon exercise of the Underwriter Warrants to be issued in this offering. To the extent that any options are exercised, new options are issued