Nasdaq: STML is developing oncology therapeutics that target both cancer stem cells (CSCs) and tumor bulk
STML closed its <previously announced> IPO of 3,815,291 shares of common stock, including the exercise in full of the over-allotment option covering 497,647 shares, at a public offering price of $10.00 per share.
The gross proceeds to Stemline from the offering, including the exercise of the over-allotment option, were $38,152,910, before deducting underwriting discounts and commissions and other offering expenses payable by Stemline.
Aegis Capital Corp. acted as sole book-running manager for the offering. Feltl and Company, Inc. and Sunrise Securities Corp. acted as co-managers for the offering.
The Bottom Line: STML's multi-center P 1/2 trial in patients with advanced hematologic cancer, SL-401 demonstrated single agent activity in multiple indications, including durable complete responses (CRs) in relapsed or refractory acute myeloid leukemia (AML) and blastic plasmacytoid dendritic cell neoplasm (BPDCN), and an overall survival (OS) improvement relative to historical data in the most heavily pre-treated patients. In addition, SL-401 was well-tolerated and was not toxic to the bone marrow. SL-401 is being advanced into a pivotal Phase 2b trial in patients with BPDCN and a registration-directed P2b study in patients with advanced AML. In P1/2 trials, Stemline's 2nd clinical stage therapeutic, SL-701, has demonstrated single agent activity including durable CRs and partial responses (PRs) in adult patients with refractory or recurrent glioblastoma and pediatric patients with malignant glioma, as well as an OS benefit in adult patients with refractory or recurrent glioblastoma compared with historical data. SL-701 is now poised for later stage trials in pediatric and adult patients with advanced brain cancer. Stemline is also developing a broad portfolio of preclinical small molecules and antibodies for a variety of solid and hematological cancer types.
STML closed <1/30/13> at $10.98 following Wednesday's <1/29/13>$10.98 with 167.5 K share traded post the IPO <1/28/13> of 1.1525 M shares trading at $11.80
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.