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SHELTON, Conn. - Intensity Therapeutics, Inc. (Nasdaq: INTS), currently trading at $0.58 per share after experiencing a nearly 90% decline over the past year according to InvestingPro data, announced Wednesday its intention to offer shares of common stock in an underwritten public offering, with ThinkEquity serving as the sole book-running manager.
The clinical-stage biotechnology company, which InvestingPro analysis shows maintains more cash than debt on its balance sheet despite having short-term obligations exceeding liquid assets, plans to use the net proceeds to fund patient enrollment and reach data readout in its INVINCIBLE-4 Study, support treatment of existing patients in the INVINCIBLE-3 Study, and for working capital and general corporate purposes, according to a company press release.
The securities will be offered through a shelf registration statement on Form S-3 that was filed with the SEC on July 3, 2024, and declared effective on July 11, 2024. A preliminary prospectus supplement and accompanying prospectus describing the offering will be filed with the SEC.
Intensity Therapeutics is developing INT230-6, an investigational cancer drug administered via direct intratumoral injection. The company has completed two clinical studies involving over 200 patients and has initiated a Phase 3 trial in soft tissue sarcoma and a Phase 2 study in collaboration with The Swiss Group for Clinical Cancer Research for patients with presurgical triple-negative breast cancer.
The company’s technology is designed to saturate tumors with cytotoxic-containing drug formulations following direct injection, which according to clinical trials has demonstrated the ability to kill tumor cells and elicit an adaptive immune response.
The offering is being conducted pursuant to an effective registration statement, with details available through the SEC website or from ThinkEquity’s offices.
In other recent news, Intensity Therapeutics, Inc. reported financial results for the first quarter of 2025, disclosing a quarterly loss of $3.3 million, or $0.19 per share, marking an improvement from the previous year’s loss of $4.6 million, or $0.34 per share. The company also announced a public offering to raise approximately $2.35 million, aimed at funding patient enrollment in its ongoing clinical studies, including the INVINCIBLE-4 study for triple-negative breast cancer. In clinical developments, Intensity’s experimental cancer drug INT230-6 showed high levels of tumor necrosis in a Phase 2 study, with patients receiving the drug before standard treatment. The European Medicines Agency granted authorization for patient enrollment in France for the INVINCIBLE-4 study, complementing existing sites in Switzerland. Meanwhile, Intensity is conducting a Phase 3 trial for INT230-6 as a monotherapy for advanced soft tissue sarcoma, with patient enrollment expected to complete by the first half of 2026. Analyst firms have weighed in on these developments, with Benchmark maintaining a Speculative Buy rating, citing progress in clinical trials, while Brookline Capital Markets downgraded the stock to Hold due to concerns over the company’s financial runway. As Intensity Therapeutics navigates these financial and clinical milestones, the investment community remains attentive to its ongoing efforts.
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