Intensity Therapeutics sets terms for $2.35 million offering

SHELTON, Conn. - Intensity Therapeutics, Inc. (NASDAQ: INTS), a biotechnology firm specializing in immune-based cancer therapies, has announced a public offering aiming to raise approximately $2.35 million. The offering includes over 3 million shares of common stock and accompanying warrants, with a combined purchase price of $0.75 per share and warrant. The offering price represents a significant discount to the company’s 52-week high of $5.28, with the stock currently trading at $0.90. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.

The Series B-1 and B-2 common warrants, both with an exercise price of $0.85 per share, are immediately exercisable upon issuance. The Series B-1 warrants are valid for five years, while Series B-2 warrants will expire 18 months post-issuance. The expected closing date for the offering is around April 28, 2025, subject to standard closing conditions. InvestingPro data shows the stock has experienced significant pressure, falling over 77% in the past year, with technical indicators suggesting oversold conditions.

Proceeds from the offering are earmarked for patient enrollment in the INVINCIBLE-4 Study, ongoing treatment for participants in the INVINCIBLE-3 Study, and other corporate purposes. A.G.P./Alliance Global Partners is the lead placement agent, with Brookline Capital Markets acting as co-placement agent.

The offering is pursuant to a registration statement filed with the Securities and Exchange Commission, which became effective on April 24, 2025. Details regarding the prospectus can be found on the SEC’s website.

Intensity Therapeutics is known for its intratumoral injection technology, which saturates tumors with a cytotoxic-containing drug formulation. The company has completed two clinical studies and is currently engaged in Phase 3 trials for soft tissue sarcoma and a Phase 2 study for triple-negative breast cancer in collaboration with SAKK. While the company maintains a healthy balance sheet with more cash than debt and a current ratio of 1.92, InvestingPro analysis indicates challenges ahead, with analysts not expecting profitability this year. Subscribers can access 12 additional ProTips and detailed financial metrics for deeper insight into the company’s prospects.

This news article is based on a press release statement and contains no endorsements of claims. The information provided is intended for factual reporting only.

In other recent news, Intensity Therapeutics reported a net loss of $16.3 million for the year, equating to a loss of $1.17 per share, compared to a net loss of $11.9 million, or $1.38 per share, the previous year. The company’s fourth-quarter results showed a net loss of $3.2 million, or $0.22 per share, with research and development costs reaching $2.0 million. Benchmark analysts maintained a Speculative Buy rating for Intensity Therapeutics, with a price target of $4.00. The company’s lead program, INT230-6, has been advancing, with 25 patients screened for the INVINCIBLE-3 Phase 3 study, which evaluates the drug as a standalone therapy for soft tissue sarcoma subtypes.

The INVINCIBLE-3 trial, focusing on INT230-6, will continue as planned following a six-month review by the Data Monitoring Committee. This Phase 3 study involves approximately 333 participants and is designed to compare INT230-6 against standard chemotherapy for certain soft tissue sarcomas. The trial is authorized in the U.S., Canada, Europe, and Australia and aims to measure overall survival and safety. Additionally, Intensity Therapeutics has expanded its clinical reach in Europe with the activation of eight sites for the INVINCIBLE-4 study, a Phase 2 trial for early-stage triple-negative breast cancer. These developments reflect the company’s ongoing progress in its clinical trials.

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