The NYSE Welcomes OS Therapies (OSTX) After Successful Pricing of Its Initial Public Offering

The clinical stage biopharmaceutical company OS Therapies (OSTX) has announced the pricing of its initial public offering (IPO) of 1.6M shares of common stock at a public offering price of $4.00 per share and has raised gross proceeds of $6.4M.

After underwriting discounts and commissions and before estimated expenses of the offering payable by OS Therapies, net proceeds are estimated at $6M. These proceeds will be intended for use to advance the clinical development of its product candidates (OST-HER2 and OST-tADC), to discover and develop new product candidates, as well as for working capital and other general corporate purposes.

OS Therapies’ began trading today on the NYSE American stock exchange, under the symbol “OSTX.” The public offering is expected to close on Friday, August 2, 2024, subject to customary closing conditions.

Brookline Capital Markets, a division of Arcadia Securities, LLC is acting as sole book-running manager for the offering. Olshan Frome Wolosky LLP is serving as counsel to the Company and Sichenzia Ross Ference Carmel LLP is serving as counsel to the underwriters in the offering.

OS Therapies is taking action to address unmet needs in children and adults by developing groundbreaking treatments aimed at fighting cancer.

Lead Clinical Program 

The Company’s leading product, OST-HER2, is a unique immunotherapy that uses a specially engineered form of bacteria (Listeria monocytogenes) to trigger a powerful immune response against HER2-expressing cancer cells. This off-the-shelf treatment aims to prevent metastasis, delay recurrence, eliminate primary tumors, and improve overall survival. The company has fully enrolled a Phase 2b clinical trial in recurrent osteosarcoma, with topline data expected in Q4 2024 following interim data in June 2024. OST-HER2 has received Rare Pediatric Disease Designation (RPDD) from the FDA, along with Fast Track and Orphan Drug Designations from the FDA and EMA. OS Therapies is also pursuing Breakthrough Therapy Designation for OST-HER2 based on Phase 2b trial data.

OST-HER2 has also shown promise in a Phase 1 clinical trial in breast cancer patients and demonstrated strong preclinical efficacy alone and in combination with HER2-targeting antibodies like Herceptin®.

Next-Generation Antibody Drug Conjugate

In addition to OST-HER2, OS Therapies is developing OST-tADC, a proprietary next-generation Antibody Drug Conjugate (ADC) platform featuring pH-sensitive silicon-based linkers, called SiLinkers™, which release therapeutic agents specifically within the acidic tumor microenvironment. This targeted approach maximizes the treatment’s effectiveness while minimizing damage to healthy cells. Initial safety and efficacy have been demonstrated in various mouse cancer models.

The addressable market for human osteosarcoma is estimated at $1.72 billion, while the global market for ADCs is projected to reach $19.8 billion by 2028, according to MarketsandMarkets.

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.