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Stemline prices stock offering; shares down 4% premarket

  • Stemline Therapeutics (NASDAQ:STML) has priced an underwritten public offering of 8,888,889 (upsized from 6.6M) common stock at $9.00 per share, with expected gross proceeds of $80M.
  • Underwriters over-allotment is an additional 1,333,333 shares.
  • The offering is expected to close on January 18.
  • Net proceeds from this offering will be utilized for (i) commercial activities of ELZONRIS (tagraxofusp; SL‑401); (ii) clinical development of SL‑801, SL‑701 and potentially SL-901; (iii) research and development activities; (iv) potential acquisitions and in-licensing; and (v) other general corporate purposes.
  • Previously: Stemline readies 6.6M-share stock offering; shares down 4% after hours (Jan. 14)

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STML--
Stemline Therapeutics, Inc.