Stemline Therapeutics Closes $59.6 Million Public Offering of Common Stock

Stemline Therapeutics (Nasdaq:STML), a clinical-stage biopharmaceutical company developing novel oncology therapeutics, today announced the closing of a previously announced underwritten public offering of 4,255,000 shares of its common stock, which included the exercise in full of the option to purchase 555,000 additional shares, at a price of $14.00 per share.
As quoted in the press release:

Stemline intends to use the net proceeds from this offering for (i) clinical, regulatory, manufacturing and, if and when approved, potential commercial activities of SL‑401; (ii) clinical development of SL‑801 and SL‑701; (iii) research and development activities; (iv) potential acquisitions and in-licensing; and (v) other general corporate purposes.

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