Leap Therapeutics stocks increased by 25%.

Leap Therapeutics (LPTX) shares rose by 25% following the announcement of a $58.9 million private investment led by Winklevoss Capital. This investment is intended to support Leap's cryptocurrency purchases and also to aid in the clinical development of cancer drug candidates.

Structured as a private placement, this investment includes stock and convertible options at a price of $0.61439 per unit. Cameron and Tyler Winklevoss, who founded Winklevoss Capital, will also gain two seats on Leap's board of directors.

While the company has not disclosed details on which cryptocurrencies it will purchase, it stated that part of the raised capital will be used for cryptocurrency acquisitions. The remainder will support the clinical development process of its drug candidates. Leap is among the public companies that use cryptocurrencies as a treasury reserve. The company announced that further details regarding its digital asset strategy would be revealed soon.