Stemline Therapeutics Files for IPO (STML)

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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.