Gain Therapeutics falls on equity offering plans

** Shares of Gain Therapeutics GANX.O down ~18% to $1.40 in extended trading on planned equity raise

** Bethesda, Maryland-based firm announces offering of stock and warrants

** It expects to use net offering proceeds to continue clinical/nonclinical development of its lead product candidate GT-02287 for treatment of neurodegenerative diseases, including GBA1 Parkinson’s disease

** Newbridge Securities sole bookrunner for offering

** GANX on Tues closed down 8.6% at $1.70, down 21% YTD

** As of May 31, co had ~30.1 mln shares outstanding, per the prospectus

** All 7 analysts covering GANX are bullish and median PT is $8, latest LSEG data reflects