OS Therapies Inc. completed a warrant exercise inducement and exchange offer with nine accredited investors, raising $7.53 million in gross proceeds. The transaction was executed on January 10, 2026 and announced on January 12, 2026, giving the company a fresh capital buffer.
The proceeds extend OS Therapies’ cash runway into 2027, enabling the company to meet its regulatory milestones for OST‑HER2. The company plans to file a Biologics Licensing Application with the U.S. FDA by the end of January 2026 and submit Marketing Authorization Applications in the U.K. and EU shortly thereafter. The financing also supports the planned spin‑off of its animal‑health subsidiary, OS Animal Health, and general corporate purposes.
OS Therapies has been operating on a tight cash position, with a nine‑month burn of $10.5 million. The new capital reduces the immediate funding cliff and provides a buffer for the accelerated development schedule of OST‑HER2, which has recently reported positive Phase 2b data and holds Rare Pediatric Disease, Fast Track, and Orphan Drug designations.
The financing follows a series of prior capital raises, including a $6 million private placement in December 2024, a $7.1 million preferred round in January 2025, and a warrant exercise inducement in June 2025. The current inducement is the largest single warrant exercise to date and reflects continued confidence from long‑term investors.
CEO Paul Romness emphasized that the capital injection “addresses market concerns related to our cash position” and positions the company to announce biomarker data from the Phase 2b trial and to file for regulatory approval in the U.S., U.K., and EU. He also highlighted the upcoming spin‑off of OS Animal Health, which will allow shareholders to participate in a separate public company focused on canine osteosarcoma.
While market reaction data are not available, the financing is expected to reassure investors about the company’s liquidity and its ability to pursue its clinical and commercial strategy without additional debt or equity dilution.
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