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In a recent transaction, Shalom Auerbach, a principal shareholder of OS Therapies Inc (NASDAQ:OSTX), executed a significant sale of the company’s common stock. According to the SEC filing, Auerbach, through Einodmil LLC, sold 100,000 shares at a weighted average price of $2.843 per share, totaling approximately $284,300. The sale was conducted over multiple transactions with prices ranging from $2.67 to $3.036 per share. The stock, which has shown high price volatility according to InvestingPro analysis, is currently trading at $1.97, significantly below the insider’s sale price. Analyst price targets range from $9 to $20, suggesting potential upside from current levels.
Following this transaction, Auerbach, who holds voting and dispositive power over the shares through Einodmil LLC, retains ownership of 2,431,211 shares indirectly and 23,371 shares directly. Auerbach has disclaimed beneficial ownership of the securities, except for his pecuniary interest. The stock has declined over 50% in the past six months, with InvestingPro offering 6 additional key insights about the company’s financial health and market performance.
In other recent news, OS Therapies, Inc. has made significant strides in its cancer treatment research and development. The firm recently completed its Phase 2b trial for OST-HER2, a drug designed to prevent the recurrence of lung metastatic osteosarcoma. The trial’s positive results, involving 41 patients, positions the company to pursue a Biologics Licensing Application with the FDA in 2025.
In addition to its clinical trials, OS Therapies has also completed a private placement, raising approximately $7.1 million. These funds are set to be used for finalizing the OST-HER2 osteosarcoma trial payments, manufacturing for FDA approval, and other operational costs.
The company’s strategic acquisition of clinical and intellectual property assets from Ayala, which includes two Listeria-based immunotherapy candidates for lung and prostate cancer, has expanded its clinical portfolio. Furthermore, OS Therapies is developing a next-generation Antibody Drug Conjugate platform known as tunable ADC, which could potentially enhance the efficacy of cancer treatments.
The company’s recent progress, particularly in securing funding and advancing regulatory milestones, positions OS Therapies favorably in a challenging biotech funding environment. This is all part of recent developments that investors and the healthcare community are closely watching.
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