The shares of Leap Therapeutics (LPTX) rose 25% after the Microcap cancer developer announced a private investment of $ 58.9 million led by Winklevos Capital to start a cryptographic treasury strategy.
The investment, structured as a private placement, includes common shares and warrants with a price of $ 0.61439 per unit. Winklevos Capital, founded by Cameron and Tyler Winklevos, will also get two board seats in Leap.
It was not revealed exactly what crypts would be bought.
Leap, known for his immuno-oncological therapies, said he will use a capital part to buy cryptocurrencies as part of a longer term plan to maintain cryptography in his balance sheet. The rest will support the clinical development of its candidates for medicines.
The agreement places between a growing list of public companies that use cryptography as a treasure reserve. Leap said more details will be announced about their digital asset strategy in the near future and did not detail what assets he plans to acquire.
The shares were higher in 25% in the Monday morning trade.
