Jul. 14 at 5:20 PM
OS Therapies (NYSE-A:
$OSTX) announced that it has closed its previously announced warrant-exercise inducement and exchange offer, raising
$4.2 million in gross proceeds and extending its cash runway through 2026, beyond the September 2026 sunset of the Rare Pediatric Disease Priority Review Voucher program.
OS Therapies is a B2i Digital Featured Company. View their comprehensive profile at https://b2idigital.com/os-therapies-1.
Highlights from today’s news release include:
- Successful warrant-exercise inducement and exchange offer raised
$4.2 million, securing operating capital through 2026.
- Net proceeds will support U.S. and international regulatory work to obtain accelerated approval for lead immunotherapy OST-HER2 in metastatic osteosarcoma, positioning the company to earn a saleable Priority Review Voucher.
- Additional funds will enable evaluation of strategic alternatives for the OS Animal Health subsidiary, completion of the OST-504 prostate-cancer study, and initiation of AI-driven tunable ADC candidate modeling that leverages the SiLinkers™ platform.
Paul Romness, noted, “The success of this warrant exercise inducement and exchange offer provides us with capital runway through 2026. In the next 18 months, we intend to pursue a Biologics Licensing Authorization under the Accelerated Approval Program for OST-HER2 in human osteosarcoma that we anticipate yielding a highly valuable and saleable Priority Review Voucher (“PRV”). We plan to complete evaluation of strategic alternatives for our OST-HER2 canine osteosarcoma program under our wholly owned OS Animal Health subsidiary, and report a final data readout for our OST-504 prostate cancer program. We also intend to initiate an AI-driven product candidate modeling exercise for our tunable ADC program to create new classes of next generation therapeutic candidates that address multiple complementary mechanisms across solid tumors leveraging our unique SiLinkers™ platform. We remain focused on our regulatory plan: End of Phase 2 Meeting with the FDA in the United States and our Scientific Advice Meetings in the United Kingdom and Europe. This delivers on our core mission of improving the treatment landscape for metastatic osteosarcoma patients. We are cognizant that we have significant value in our pipeline programs that we can now begin to evaluate more thoroughly while minimizing cash spend. With the breadth of the technologies we have assembled, we are poised to begin improving the cancer therapeutic landscape in the years ahead.”
Read the full release at: https://ir.ostherapies.com/news-events/press-releases/detail/70/os-therapies-closes-4-2-million-in-warrant-exercise.
Led by CEO Paul Romness and an experienced executive team that includes Christopher Acevedo, Robert Petit, John Doll, and Gerald Commissiong, OS Therapies is focused on driving its pipeline forward to deliver potentially transformative treatments for osteosarcoma and other hard-to-treat cancers.
Disclosure: The management of B2i Digital owns unrestricted shares of OSTX stock purchased in the open market. This post is not intended to solicit the sale of OSTX or any security, and it is not intended to offer any opinion on OSTX as an investment. Conduct your own research and consult with your own professional advisors prior to making any investment decisions. See the full disclosure in the Risks and Disclosures section of https://b2idigital.com/os-therapies-1.
