Stemline Therapeutics, Inc. Announces Exercise of Over-Allotment Option
NEW YORK, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Stemline Therapeutics, Inc. (Nasdaq: STML), a clinical-stage biopharmaceutical company developing oncology therapeutics that target both cancer stem cells (CSCs) and tumor bulk, today announced the exercise in full of the over-allotment option granted to the representative of the underwriters by Stemline with respect to the purchase of 497,647 shares of common stock at a public offering price of $10.00 per share, less underwriting discounts and commissions. The over-allotment option is being exercised in connection with Stemline's previously announced initial public offering of 3,317,644 shares of common stock. As a result of the exercise of the over-allotment option, the total gross proceeds to Stemline from the offering will be $38,152,910, before deducting underwriting discounts and commissions and other offering expenses.
Aegis Capital Corp. is acting as sole book-running manager for the offering.
Feltl and Company, Inc. and Sunrise Securities Corp. are acting as co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 28, 2013.
This offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Stemline Therapeutics, Inc. is a clinical stage biopharmaceutical company developing novel oncology therapeutics that target both cancer stem cells (CSCs) as well as the tumor bulk. Among Stemline's drug candidates are SL-401 and SL-701, both of which have demonstrated clinical activity, including durable complete responses (CRs), and an overall survival (OS) benefit versus historical controls in Phase 1/2 studies of advanced cancer patients.