Biopharma Mover: OS Therapies (OSTX) Announces Q2 Earnings
Today the clinical-stage biopharmaceutical company OS Therapies (OSTX) announced Q2 earnings after its recent successful IPO that raised $6.4M on July 31, 2024. After IPO and preferred shares and debt conversion share issuances, there are 20.85 million common shares outstanding, with 1.86 million common shares available to be traded. As of the date of the IPO the company had no debt with a cash runway into mid-2025 for its lead program OST-HER2.
The company’s sufficient capital will provide OS Therapies to meet another key objective that will allow for the completion of a pivotal safety study that would allow for the conditional approval already received by the US Department of Agriculture for OST-HER2 in canine osteosarcoma to be converted into a full approval, paving the way for commercialization nationwide. There are approximately 1,000 new human osteosarcoma diagnoses over 10,000 canine osteosarcoma diagnoses reported annually in the United States.
OS Therapies’ pipeline lead OST-HER2 is a Lm vector-based off-the-shelf Immunotherapy intended to prevent metastasis, delay recurrence, and increase overall survival. The Company has screened/enrolled 54 and dosed 41 patients per protocol of its AOST-2121 Phase 2b clinical trial in recurred, resected osteosarcoma testing OST-HER2 (Listeria monocytogenes). OST-HER2 has completed a Phase 1 clinical trial, primarily in breast cancer patients, in addition to strong preclinical data demonstrating efficacy on a standalone basis and in combination with HER2-targeting therapeutic antibodies such as Herceptin®. The Company intends to pursue therapeutic development of OST-HER2 in breast cancer following FDA approval for OST-HER2 in osteosarcoma.
The Company is a pre-revenue biotechnology company. The Company anticipates beginning to generate revenue through the sale of licensing rights to its products and product candidates as they achieve upcoming de-risking clinical and regulatory milestones.
About OS Therapies
OS Therapies is a clinical stage oncology company focused on the identification, development and commercialization of treatments for Osteosarcoma (OS) and other solid tumors. OST-HER2, the Company’s lead asset, is an immunotherapy leveraging the immune-stimulatory effects of Listeria bacteria to initiate a strong immune response targeting the HER2 protein. The Company has completed enrollment for a 41-patient Phase 2b clinical trial of OST-HER2 in resected, recurrent osteosarcoma, with results expected in the fourth quarter of 2024. OST-HER2 has completed a Phase 1 clinical study primarily in breast cancer patients, in addition to showing strong preclinical efficacy data in various models of breast cancer. In addition, OS Therapies is advancing its next generation Antibody Drug Conjugate (ADC) platform, known as tunable ADC (tADC), which features tunable, tailored antibody-linker-payload candidates. This platform leverages the Company’s proprietary silicone linker technology, enabling the delivery of multiple payloads per linker. For more information, please visit www.ostherapies.com.
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