Gain Therapeutics, Inc. (GANX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 150.65% of current shares
Recent Dilution: 95.11% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
42M
Potential Supply
64M
Additional shares possible
Splits
None
Past 2 years

Summary

GANX currently has 42.2M outstanding shares. with significant dilution risk as 63.6M authorized shares could dilute existing holders by 150.6%. The company has significantly diluted shareholders by 95.11% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 42.2M shares outstanding

42M 64M
Mar 26, 2026

10-K filing | 42.1M shares outstanding

42M 64M
Nov 12, 2025

10-Q filing | 35.0M shares outstanding

35M 64M
Nov 07, 2025

S-3/A filing: This is an S-3/A filing for Gain Therapeutics, Inc., registering securities for sale.

30M 64M
Aug 12, 2025

10-Q filing | 30.3M shares outstanding

30M 11M
Jul 17, 2025

8-K filing: Gain Therapeutics, Inc. entered into an underwriting agreement to offer 4,501,640 shares of common stock and warrants to purchase 2,250,820 shares for gross proceeds of approximately $7.0 million. ($7.0M proceeds)

29M 11M
May 28, 2025

S-3 filing: This is an S-3 filing for a shelf registration of common and preferred stock by Gain Therapeutics, Inc.

29M 11M
May 14, 2025

10-Q filing | 28.7M shares outstanding

29M 85M
Mar 27, 2025

10-K filing | 27.1M shares outstanding

27M 85M
Nov 14, 2024

10-Q filing | 26.5M shares outstanding

27M 85M
Aug 08, 2024

10-Q filing | 25.2M shares outstanding

25M 85M
Jun 14, 2024

8-K filing: Gain Therapeutics, Inc. entered into an underwriting agreement to sell 7,116,547 shares of common stock and pre-funded warrants exercisable for up to 1,031,602 shares of common stock at $1.35 per share and $1.3499 per pre-funded warrant, respectively, with net proceeds expected to be approximately $10.1 million. ($11.0M proceeds)

18M 85M
May 14, 2024

10-Q filing | 18.0M shares outstanding

18M 85M
Mar 26, 2024

10-K filing | 16.2M shares outstanding

16M 85M
Dec 19, 2023

S-1 filing: This S-1 filing details the resale of common stock and shares issuable upon exercise of warrants, including private placements and public offerings.

13M 85M
Nov 22, 2023

8-K filing: Gain Therapeutics, Inc. entered into an underwriting agreement for a public offering of 2,213,044 shares of common stock and warrants to purchase 1,106,522 shares, and a concurrent private offering of 744,026 shares of common stock, pre-funded warrants for 1,756,062 shares, and warrants to purchase 2,500,088 shares. ($9.4M proceeds)

13M 79M
Nov 14, 2023

10-Q filing | 12.7M shares outstanding

13M 79M
Aug 10, 2023

10-Q filing | 12.4M shares outstanding

12M 79M
May 12, 2023

10-Q filing | 11.9M shares outstanding

12M 79M
Mar 23, 2023

10-K filing | 11.9M shares outstanding

12M 79M
Nov 10, 2022

10-Q filing | 11.9M shares outstanding

12M 79M
Aug 08, 2022

10-Q filing | 11.9M shares outstanding

12M 79M
May 23, 2022

S-3/A filing: Consent to reference to Ernst & Young AG as experts in the Registration Statement (Form S-3) for the registration of up to $100,000,000 of Common Stock, Preferred Stock, Debt Securities and Warrants.

12M 79M
May 18, 2022

S-3 filing: Registration statement for the offering, issuance and sale by the registrant of up to a maximum aggregate offering price of $100.0 million of our common stock, preferred stock, debt securities and/or warrants from time to time in one or more offerings; and a sales agreement prospectus supplement that covers the offering, issuance and sale by us of up to a maximum aggregate offering price of $16.0 million of our common stock that may be issued and sold under a Controlled Equity OfferingSM Sales Agreement with Cantor Fitzgerald & Co.

12M 79M
May 16, 2022

10-Q filing | 11.9M shares outstanding

12M 4.2M
Mar 25, 2022

10-K filing | 11.9M shares outstanding

12M 4.2M
Nov 12, 2021

10-Q filing | 11.9M shares outstanding

12M 4.2M
Oct 20, 2021

8-K filing: Matthias Alder was appointed Chief Operating Officer of Gain Therapeutics, Inc. effective October 15, 2021, and will receive a stock option grant of 200,000 shares and restricted stock unit grants of 200,000 shares.

12M 4.2M
Aug 12, 2021

10-Q filing | 11.9M shares outstanding

12M 4.2M
May 10, 2021

10-Q filing | 11.9M shares outstanding

12M 4.2M
Mar 22, 2021

8-K filing: Gain Therapeutics, Inc. closed its initial public offering of 3,636,364 shares of its common stock at $11.00 per share on March 22, 2021, and also amended and restated its Certificate of Incorporation and Bylaws effective as of March 17, 2021. ($40.0M proceeds)

11M 4.2M
Mar 15, 2021

S-1/A filing: The filing relates to an offering of common stock by Gain Therapeutics, Inc. with 3,636,364 shares offered and an additional 545,454 shares available under the underwriter's option. The company intends to use the net proceeds from this offering to advance its lead programs in preclinical studies and into clinical trials, to advance our discovery and candidate selection stage programs and for general corporate purposes.

11M 4.2M
Mar 10, 2021

S-1/A filing: The company is offering 3,636,364 shares of common stock at an assumed initial public offering price of $11.00 per share. The underwriters have the option to purchase an additional 545,454 shares of common stock. The company intends to use the net proceeds from this offering to advance its lead programs in preclinical studies and into clinical trials, to advance its discovery and candidate selection stage programs and for general corporate purposes.

11M 4.2M
Feb 19, 2021

S-1 filing: This is an S-1 filing for an initial public offering of common stock, with an underwriter option to purchase additional shares, and includes information regarding a previous private placement of Series B Preferred Stock.

N/A 0
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