TLDR
- Leap Therapeutics announced a $58.9 million private placement led by Winklevoss Capital on October 6, 2025
- The investment will be used to purchase cryptocurrency for the company’s balance sheet and support cancer drug development
- Shares rose 25% on the news, with the stock trading as a penny stock
- Winklevoss Capital will receive two board seats as part of the deal
- The private placement is expected to close around October 8, 2025
Leap Therapeutics saw its stock price climb 25% on Monday after announcing a $58.9 million private investment from Winklevoss Capital. The deal marks the cancer drug developer’s entry into cryptocurrency treasury management.
The private placement was structured with common shares and warrants priced at $0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, led the investment round.
As part of the agreement, Winklevoss Capital will gain two board seats at Leap Therapeutics. The company did not disclose which specific cryptocurrencies it plans to purchase.
Leap said it will use a portion of the capital to buy cryptocurrency as part of a long-term strategy to hold digital assets on its balance sheet. The remaining funds will support the clinical development of its cancer drug candidates.
The company focuses on immuno-oncology therapeutics. Its pipeline includes sirexatamab, a humanized monoclonal antibody targeting the Dickkopf-1 protein, and FL-501, another humanized monoclonal antibody.
Digital Asset Strategy Details
Leap stated that more information about its digital asset strategy will be announced in the near future. The company has not yet revealed which cryptocurrencies or digital assets it intends to acquire.
This move places Leap among a growing list of public companies that use cryptocurrency as a treasury reserve. The strategy aims to build long-term shareholder value through participation in digital assets.
The private placement deal was announced on October 6, 2025. Trading volume reflected investor interest in the crypto treasury announcement.
Leap Therapeutics operates as a biotechnology company with a market capitalization of approximately $22.11 million. The stock trades as a penny stock with an average trading volume of 1.49 million shares.
Investment Structure and Timeline
The investment includes both equity and warrants. This structure gives Winklevoss Capital potential upside through the warrant component.
The closing of the private placement is expected to occur around October 8, 2025. The deal remains subject to customary closing conditions.
Leap will continue developing its therapeutic programs while building its cryptocurrency holdings. The dual approach splits the investment between operational needs and treasury management.
The company’s current analyst rating stands at Hold with a $1.25 price target. TipRanks‘ AI Analyst rates the stock as Underperform due to financial challenges and lack of revenue growth.
Leap has faced persistent losses with no revenue generation. The company’s financial performance score remains low according to analysts.
The technical analysis shows bearish trends with potential for short-term volatility. Valuation metrics are unfavorable due to negative earnings.
The private placement represents a strategic shift for the biotech company. Winklevoss Capital’s board representation will likely influence future cryptocurrency decisions.
Shares were trading higher by 25% in Monday morning trade following the announcement. The stock price reflected positive market reception to the Winklevoss investment and crypto strategy.
