LPTX Profile
Leap Therapeutics Inc. (LPTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, USA. The company is primarily focused on developing novel immuno-oncology therapies designed to treat patients with cancer.
Leap's lead product candidate is DKN-01, a humanized monoclonal antibody that targets the Dickkopf-1 (DKK1) protein. DKN-01 is being evaluated in multiple clinical trials for the treatment of various solid tumor cancers, including biliary tract, esophageal, and gastroesophageal junction cancers. Leap is also developing other product candidates, including TRX518, a humanized monoclonal antibody that targets the glucocorticoid-induced tumor necrosis factor receptor (GITR).
In May 2021, Leap announced that it had entered into a collaboration agreement with Merck KGaA, Darmstadt, Germany, and Pfizer Inc. to evaluate the combination of DKN-01 and avelumab, a checkpoint inhibitor, in patients with advanced biliary tract cancer. Under the terms of the agreement, Leap will receive an upfront payment and is eligible to receive additional milestone payments and royalties based on the achievement of certain development, regulatory, and commercial milestones.
As of September 30, 2021, Leap had cash, cash equivalents, and marketable securities of $56.9 million. The company has a history of incurring losses and expects to continue to do so for the foreseeable future.
Leap's stock is listed on the NASDAQ stock exchange and has a market capitalization of approximately $96 million as of February 21, 2023. The stock has experienced significant volatility in recent years and investors should carefully consider the risks associated with investing in a clinical-stage biopharmaceutical company.
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