Biotech IPO: Stemline Therapeutics, an emerging biotech company, successfully completed its biotech IPO yesterday with shares rising 18% on opening.
Stemline increased the number of shares in the initial public offering, or IPO, by about one million, bringing the offering's value to $33 million, or $6 million more than the top estimate previously outlined in documents filed with the Securities and Exchange Commission.
Stemline Therapeutics, an emerging biotech company, is a clinical stage biopharmaceutical company developing novel oncology therapeutics that target both cancer stem cells (CSCs) as well as the tumor bulk. Among Stemline's drug candidates are SL-401 and SL-701, both of which have demonstrated single agent clinical activity in Phase 1/2 studies of advanced cancer patients.
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