OS Therapies adds Craig Eagle to board, signs $10 million convertible note deal

OS Therapies, Inc. (NYSE American: OSTX) announced on July 2, 2026 that it appointed Dr. Craig Eagle to its board of directors, filling a vacancy left by Karim Galzahr, who notified the Company of his resignation from the board effective immediately on June 1, 2026¹. Eagle, who has served as Chief Medical Officer of Guardant Health, Inc. since May 2021¹, also continues in his role as the company's Chief Medical Advisor.

Separately, on June 30, 2026, OS Therapies, together with subsidiaries OS Animal Health Inc. and OS Therapies UK Ltd, entered into a securities purchase agreement with Leonite Fund I, LP, under which the company agreed to issue a senior secured convertible promissory note in an aggregate principal amount of up to $10,000,000¹. The company also agreed to issue the investor 275,000 shares of common stock and a five-year warrant to purchase up to 1,750,000 shares¹.

Terms include an original issue discount of 7.5% per funded tranche, with the first tranche of $1,600,000 (less $35,000 in retained legal fees) expected to fund on July 2, 2026¹. The note bears interest at 9.0% per annum, payable monthly, with each tranche maturing nine months after funding, though no tranche may mature later than 24 months after issuance¹. The note converts into common stock at an initial price of $2.05 per share¹, while the warrant carries an initial exercise price of $2.85 per share, exercisable through June 30, 2031¹.

The note is secured by a first-priority security interest in substantially all company and subsidiary assets, excluding intellectual property¹. The company said proceeds will fund clinical development and regulatory activities, as well as working capital and other general corporate purposes¹.