OS Therapies, a Phase 2 biotech developing immunotherapies for osteosarcoma and other solid tumors, filed on Friday with the SEC to raise up to $10 million in an initial public offering.
The Rockville, MD-based company plans to raise $10 million by offering 2 million shares at $5. At the proposed price, OS Therapies would command a market value of $116 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 was founded in 2018 and plans to list on the NYSE American under the symbol OSTX. The company filed confidentially on November 23, 2022. Boustead Securities is the sole bookrunner on the deal.
