OS Therapies Closes $6.4M Initial Public Offering on NYSE American

Olshan served as counsel to OS Therapies Incorporated, an antibody drug conjugate (ADC) and immunotherapy research and clinical stage biopharmaceutical company, in its initial public offering of 1,600,000 shares of common stock at a public offering price of $4.00 per share, raising gross proceeds of $6.4 million. The Company also granted the underwriters a 45-day option to purchase additional shares of common stock at the public offering price to cover over-allotments. The net proceeds from the offering are expected to be approximately $6.0 million, after deducting underwriting discounts and commissions. The Company intends to use the net proceeds to advance the clinical development of its product candidates – OST-HER2 and OST-tADC – and discover and develop new product candidates. OS Therapies is 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. OS Therapies’ common stock began trading on the NYSE American stock exchange on August 1, 2024, under the symbol “OSTX.” Brookline Capital Markets, a division of Arcadia Securities, LLC acted as sole book-running manager for the public offering. The Olshan team was led by corporate partner Spencer Feldman and associate Dakota Forsyth.