Leap Therapeutics Surges 58% on Winklevoss-Backed $58.9M Crypto-Biotech Pivot

Leap Therapeutics (LPTX) skyrocketed 58% to $0.8429 in early trading after announcing a $58.9 million PIPE financing led by Cameron and Tyler Winklevoss' investment firm. The deal marks a strategic shift as the biotech firm allocates capital toward both clinical programs and digital asset treasury management.

Winklevoss Capital will provide advisory services for Leap's crypto strategy implementation. The offering includes 95 million common shares or pre-funded warrants priced at $0.61439, with additional warrants exercisable at $0.5335 - structured to comply with Nasdaq listing requirements.

The transaction represents one of the first major crossovers between biotechnology and cryptocurrency treasury management. Market participants interpreted the involvement of crypto-native investors as validation of digital assets' role in corporate finance strategies.