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OS Therapeutics (OSTX), which is developing therapies to treat bone cancer, has applied to raise $10 million through an initial public offering.
The biotech company plans to offer 2 million shares at a price of $5 per share. Subscribers would be given a 45-day option to purchase up to 300,000 additional shares to cover overallotments.
Boustead Securities is serving as the lead underwriter. The company expects to list its shares on NYSE American under the symbol OSTX.
The selling shareholders plan to offer up to an additional 536,000 shares at the same time as the offer, according to the file.
Based in Maryland, OS Therapeutics’ lead drug candidate, OST-HER2, is in Phase 2 trials for the treatment of osteosarcoma, a rare bone cancer that affects children and young adults. 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 $192 million through an expanded initial public offering in February, while Structural Therapeutics (GPCR) raised $161 million in January.
