Leap Therapeutics’ shares (LPTX) climbed 25% after the Microcap cancer developer announced a private investment of $ 58.9 million led by Winklevoss Capital to launch a cryptographic cash strategy.
The investment, structured as a private investment, includes common shares and mandates at a price of $ 0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also win two consulting seats in Leap.
Exactly the cryptos that would be purchased were not disclosed.
Leap, known for her therapies by immuno-oncology, said that she would use part of the capital to buy cryptocurrency as part of a longer-term plan to hold the crypto in its balance sheet. The rest will support the clinical development of its drug candidates.
The agreement has leap from a growing list of public enterprises using crypto as a cash reserve. Leap has said that more details on its digital asset strategy will be announced in the near future and do not detail the assets it plans to acquire.
Actions were 25% higher in trade on Monday morning.
