Diligence memo · auto-generated · as of July 2, 2026
Leap Therapeutics, Inc.
Leap Therapeutics, Inc. looks over-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Leap Therapeutics, Inc. operates in Pharmaceuticals, based in CAMBRIDGE.
Sub-sector tags: pharma.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Leap Therapeutics, Inc. has raised $105M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $77M on 2023-01-17.
Most recent recorded round closed around 2023-01-17.
Valuation (modeled)modeled
Provath models Leap Therapeutics, Inc. at approximately $1.1B (range $251M–$2.1B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.94× the median modeled value of Series C Pharmaceuticals companies in 2022–2024 (30 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 72 months.
Last raise 3.5 yr ago; this sector typically re-raises about every 13 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 4.3× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 91% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 90% of those peers.
Closest niche peers: Vigil Neuroscience, Inc., Alimera Sciences Inc, VYNE Therapeutics Inc., Lusaris Therapeutics, Inc., Context Therapeutics Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.