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

Company: Gain Therapeutics, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 25
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 exchange or any other nationally recognized trading system.

Rights as a Stockholder . Except as otherwise provided in the Common Warrants or by virtue of such holder’s ownership of shares of our common stock, the holder of a Common Warrant does not have the rights or privileges of a holder of our common stock, including any voting rights, until the holder exercises the Common Warrant.

Warrant Agent . The Common Warrants will be issued in book-entry form under the Warrant Agency Agreement with the Warrant Agent. The Common Warrants initially will be issued in book-entry

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form and will be represented by one or more global certificates deposited with The Depository Trust Company (“DTC”) and registered in the name of Cede & Co., a nominee of DTC, or as otherwise directed by DTC.

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DILUTION If you invest in our securities, your interest will be diluted to the extent of the difference between the public offering price per share of common stock and Common Warrants offered in this offering and the net tangible book value per share of our common stock immediately after this offering. Our net tangible book value as of March 31, 2025 was $4,458,723, or $0.16 per share. Net tangible book value per share is equal to our total assets (excluding internal-use software, pre-payments and deferred costs), less our total liabilities, divided by the total number of shares outstanding as of March 31, 2025. After giving effect to the sale of shares of common stock and accompanying Common Warrants to purchase shares of common stock at an effective offering price of $ per share and accompanying Common Warrant, and Pre-Funded Warrants to purchase shares of our common stock and accompanying Common Warrants to purchase shares of common stock at an effective offering price of $ per Pre-Funded Warrant and accompanying Common Warrant, assuming the full exercise of the Pre-Funded Warrants and after deducting estimated offering commissions, our net tangible book value as of March 31, 2025 would have been $ , or approximately $ per share of common stock. This represents an immediate increase in net tangible book value of $ per share to our existing stockholders and an immediate dilution in net tangible book value of $ per share to new investors in this offering. The following table illustrates this calculation on a per share basis:

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