Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
OS Therapies Inc, a Delaware-incorporated pharmaceutical company with a market capitalization of $28.25 million, announced the adjournment of its Special Meeting of Stockholders originally scheduled for March 31, 2025, due to the absence of a quorum. The company’s stock has experienced significant pressure, declining 54.3% over the past six months according to InvestingPro data. The meeting, which was to take place at Olshan Frome Wolosky LLP’s New York offices, was adjourned without any business being conducted. The company has rescheduled the meeting for Wednesday, April 9, 2025, at the same location.
The reconvened Special Meeting aims to address proposals outlined in the proxy statement filed with the Securities and Exchange Commission (SEC) on February 28, 2025. The record date for determining stockholders eligible to vote at the reconvened meeting remains February 12, 2025. InvestingPro analysis reveals the company is quickly burning through cash, though it maintains more cash than debt on its balance sheet - two of several key insights available to subscribers.
OS Therapies Inc has urged stockholders who have not yet cast their votes to do so by April 8, 2025, at 11:59 p.m. Eastern Time. Votes received before the adjourned Special Meeting’s closure will be accepted. The company emphasized that stockholders who have already voted and do not wish to change their vote need not take any action. During the adjournment period, the company will continue to solicit votes from its stockholders concerning the Special Meeting’s proposals.
The definitive proxy statement, along with other relevant documents, was previously filed with the SEC and is available on the SEC’s website. Stockholders are encouraged to review these materials, as they contain important information regarding the reconvened Special Meeting. Despite the recent stock decline to $1.33, analyst targets range from $9 to $20, suggesting significant potential upside. For comprehensive financial analysis and additional insights, investors can access detailed metrics and forecasts through InvestingPro.
OS Therapies Inc’s directors, executive officers, and other employees may participate in the solicitation of proxies for the reconvened Special Meeting. The company’s proxy statement and any other filings with the SEC can be accessed free of charge at the SEC’s website.
This news is based on the latest 8-K filing by OS Therapies Inc with the SEC.
In other recent news, OS Therapies has made significant advancements in its clinical and financial endeavors. The company has completed a Phase 2b trial for its lead drug, OST-HER2, which targets osteosarcoma, and is preparing for discussions with the FDA about potential accelerated approval. OS Therapies anticipates submitting a Biologics Licensing Application in 2025, and if approved, could receive a Priority Review Voucher. Additionally, OS Therapies has established a new subsidiary, OS Drug Conjugates, to enhance its focus on antibody drug conjugates and plans to pursue joint ventures with other companies. The company recently concluded a $7.1 million private placement, strengthening its financial position to support ongoing research and development. OS Therapies has also acquired clinical and intellectual property assets from Ayala, expanding its portfolio and potentially reducing costs. These strategic moves reflect the company’s efforts to capitalize on its advanced drug delivery platforms and improve outcomes for osteosarcoma and other solid tumors. As OS Therapies progresses with its regulatory and clinical strategies, investors remain attentive to these developments.
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