Shares in Leap Therapeutics (LPTX) rose 25% after MicroCap Cancer Drug Developer announced a $58.9 million private investment led by Winklevoss Capital to launch its Crypto Treasury strategy.
The investments, which are constructed as privately owned arrangements, include common stock and priced at $0.61439 per copy. Founded by Cameron and Tyler Winklevoss, Winclevos Capital will also win two board seats at LEAP.
It has not been revealed exactly which code will be purchased.
LEAP, known for immunotumor therapy, said it would buy cryptocurrency to use some of its capital as part of its long-term plan to retain crypto on its balance sheet. The rest will support the clinical development of that drug candidate.
The transaction jumps to an increasing list of public companies using Crypto as a Treasury Reserve. Leap said details of its digital asset strategy will be announced in the near future and did not detail which assets are planning to acquire.
Stocks were 25% higher in trade on Monday morning.
