Stemline Therapeutics (NASDAQ: STML) recently announced the closing of an underwritten public offering of 4,255,000 shares of its common stock, which includes the sale of an additional 555,000 shares of common stock pursuant to the full exercise of the over-allotment option granted to the underwriters. The shares were sold at a price of $14.00 per share, bringing the company’s total gross proceeds to $59,570,000 before deducting underwriting discounts, commissions and other offering expenses. Stemline intends to use the net proceeds from this offering for clinical development, regulatory, manufacturing and potentially commercial activities regarding its clinical candidates as well as other general corporate purposes.
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About Stemline Therapeutics
Stemline Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel oncology therapeutics. Stemline is developing three clinical stage product candidates, SL-401, SL-801, and SL-701. SL-401 is a targeted therapy directed to the interleukin-3 receptor (CD123) present on a wide range of malignancies. SL-401 has completed a pivotal trial in blastic plasmacytoid dendritic cell neoplasm (BPDCN), for which it was granted breakthrough therapy designation (BTD). SL-801 is a novel oral small molecule reversible inhibitor of XPO1 that is currently in a Phase 1 trial of patients with advanced solid tumors. SL-701, an immunotherapeutic, has completed a Phase 2 trial in patients with second-line glioblastoma and patients are being followed for long-term outcomes. For more information, visit the company’s website at www.Stemline.com.
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