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Health and Healthcare

Stemline Therapeutics Files for IPO (STML)

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By Jon C. Ogg Updated Published

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Stemline Therapeutics, Inc. has just filed its paperwork with the Securities and Exchange Commission that will allow it to conduct an initial public offering. The company will list is shares under the ticker “STML” on NASDAQ. The company hired Oppenheimer & Co. and JMP Securities to lead its initial public offering.

The filing noted in its own description area:

We are a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing proprietary therapeutics that target both cancer stem cells, or CSCs, and tumor bulk. We believe that we are developing the most clinically advanced pipeline of anti-CSC therapeutics and that we hold a broad portfolio of CSC-focused intellectual property, establishing us as a leader in the CSC field.

No financial terms were disclosed other than this offering will be for up to $50 million. The company has three uses for the proceeds in the offering:

  • It plans to advance SL-401 into a randomized Phase 2b clinical trial to treat adult AML patients as a third-line treatment.
  • It plans to advance SL-701 into a pivotal Phase 2b clinical trial to treat pediatric patients with newly diagnosed BSG. It also plans to initiate a randomized Phase 2b clinical trial of SL-701 in adult second-line GBM.
  • The remaining proceeds will be used to fund working capital, capital expenditures and other general corporate purposes.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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