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OS Therapies Incorporated (OSTX+7.20%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing treatments for Osteosarcoma and other solid tumors. OS Therapies is advancing its lead product candidate, OST-HER2, through clinical development, with a Phase IIb trial completed in 2024.
The company reported a net loss of $8.9 million for the year ended December 31, 2024, compared to a net loss of $7.8 million for the previous year. The increase in net loss is attributed to higher general and administrative expenses.
Research and development expenses decreased to $2.8 million from $3.2 million, primarily due to reduced vendor expenses associated with the OST-tADC product.
General and administrative expenses increased significantly to $4.0 million from $1.1 million, driven by increased consulting, payroll, and legal fees.
OS Therapies raised $12.8 million in net proceeds from financing activities during the year, including $6.4 million from its initial public offering and $7.1 million from a private placement.
The company has cash and cash equivalents of $5.5 million as of December 31, 2024, and anticipates that these funds will support its operations for the next nine to 12 months.
OS Therapies continues to seek additional capital to fund its operations and advance its product candidates through development.
The filing also discusses the company's licensing agreements with Advaxis, Inc. and BlinkBio, Inc., which provide rights to develop and commercialize certain products.
OS Therapies is subject to various risks, including the need for additional capital, regulatory approval challenges, and competition from other companies developing treatments for Osteosarcoma.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the OS Therapies Incorporated annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.