OS Therapies closes first tranche of warrant inducement offer for $7.2 million

OS Therapies Inc. (NYSE American: OSTX) said on October 19, 2026 that it completed an initial closing of a warrant exercise inducement and exchange offer extended to nine accredited investors. The offer let holders exercise or pre-fund existing common stock purchase warrants for cash at a reduced price of $1.30 per share, or $1.299 per share for a pre-funding.¹

Seven holders took part in the initial closing, exercising or pre-funding warrants for 5,517,253 shares, which brought the company $7.2 million in gross proceeds before fees and expenses.¹ Most of the warrants exercised carried an original strike price of $1.40 per share.¹ In exchange, the company gave participating holders new warrants to buy the same number of shares, 5,517,253, at an exercise price of $1.40 per share.¹ The overall offer is set to expire at 11:59 p.m. Eastern time on October 30, 2026, unless extended or ended early.¹

The company also pointed to $7 million in refundable U.K. research and development tax credits that it expects to file for with His Majesty's Revenue and Customs in the fourth quarter of 2026, with the refund expected in early 2027.¹ It said proceeds would go toward regulatory filings and commercial preparation for Herlystic, also known as OST-HER2 or daznelimgene lisbac, in osteosarcoma patients across the U.S., U.K., EU and Australia.¹

OS Therapies reiterated plans to submit a Biologics License Application to the FDA under the Accelerated Approval Program, along with Conditional Marketing Authorisation Applications to the U.K. MHRA, the EMA and Australia's TGA, in the fourth quarter of 2026.¹ The company also said it completed resubmission of a Regenerative Medicine Advanced Therapy designation request and that FDA has accepted its Commissioner's National Priority Voucher letter of intent.¹