Winklevoss-Led $59M Crypto Investment Boosts Leap Therapeutics Shares

Shares of Leap Therapeutics (LPTX) jumped 25% after the microcap cancer drug developer announced a $58.9 million private investment led by Winklevoss Capital to launch a crypto treasury strategy.

The private placement includes common shares and warrants priced at $0.61439 per unit. Winklevoss Capital, founded by Cameron and Tyler Winklevoss, will also gain two seats on Leap’s board as part of the deal.

Leap, known for its immuno-oncology therapies, said a portion of the proceeds will be used to purchase cryptocurrency for its balance sheet, while the remainder will fund clinical development of its drug candidates. The company did not specify which cryptocurrencies it plans to acquire.

This move places Leap among a growing list of public companies holding crypto as a treasury reserve. Additional details on its digital asset strategy are expected soon.

Shares traded up 25% in Monday morning session.