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OS Therapeutics (OSTX), which is developing therapies to treat bone cancer, has filed to raise $10M through an initial public offering.
The biotech company plans to offer 2M shares priced at $5 per share. Underwriters would be granted a 45-day option to buy up to 300K additional shares to cover over-allotments.
Boustead Securities is serving as lead underwriter. The company hopes to list its shares on NYSE American under the symbol OSTX.
Selling shareholders plan to offer up to 536K additional shares concurrent to the offering, according to the filing.
Based in Maryland, OS Therapeutics’ lead drug candidate, OST-HER2, is in Phase 2 testing for the treatment of osteosarcoma, a rare bone cancer that strikes children and younger adults. The immunotherapy has received orphan drug status from the US Food and Drug Administration.
OS Therapeutics is the latest biotech to seek a listing. Mineralys (MLYS) raised $192M through an upsized IPO in February, while Structural Therapeutics (GPCR) raised $161M in January.
Image and article originally from seekingalpha.com. Read the original article here.