OS Therapies, a Phase 2 biotech developing an off-the-shelf immunotherapy for osteosarcoma, raised $6 million by offering 1.6 million shares at the $4 proposed price. At pricing, the company commands a market cap of $81 million.
OS Therapies is developing treatments for osteosarcoma and other solid tumors, focusing on the need for new treatments in cancers of the bone in children and young adults. Its most advanced candidate, OST-HER2, is a genetically engineered strain of Listeria monocytogenes which entered a Phase 2b trial in osteosarcoma in July 2021. The trial is expected to conclude in late 2024, after which the company plans to submit an NDA given that there is sufficiently positive endpoint data.
OS Therapies plans to list on the NYSE American under the symbol OSTX. Brookline Capital Markets acted as sole bookrunner on the deal.
