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OSTX

OS Therapies Incorporated

OSTX

OS Therapies Incorporated • NYSE
$1.79 ▼ -3.24% (-0.06)
Market Cap $63.03 M
52w High $7.00
52w Low $1.12
Dividend Yield 0%
P/E -2.21
Volume 62.44K
Outstanding Shares 35.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $6.755M ▲ $-6.88M ▼ 0% $-0.21 ▼ $-6.755M ▼
Q2-2025 $0 $4.726M ▼ $-4.537M ▼ 0% $-0.18 $-4.424M ▼
Q1-2025 $0 $4.999M ▲ $-3.877M ▼ 0% $-0.18 ▼ $-3.876M ▼
Q4-2024 $0 $2.965M ▲ $-2.991M ▼ 0% $-0.04 ▲ $-2.982M ▼
Q3-2024 $0 $2.437M $-2.875M 0% $-0.18 $-2.437M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.877M ▼ $8.953M ▼ $4.245M ▲ $4.708M ▼
Q2-2025 $2.802M ▼ $10.31M ▲ $3.558M ▼ $6.752M ▲
Q1-2025 $2.971M ▼ $4.25M ▼ $3.636M ▼ $613.666K ▼
Q4-2024 $5.534M ▲ $5.539M ▲ $4.727M ▲ $811.487K ▲
Q3-2024 $1.858M $1.977M $2.684M $-707.127K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.88M ▼ $-4.706M ▼ $0 ▲ $3.781M ▲ $-925.387K ▼ $-4.706M ▼
Q2-2025 $-4.537M ▼ $-2.36M ▲ $-292.787K ▼ $2.484M ▲ $-168.994K ▲ $-2.677M ▲
Q1-2025 $-3.877M ▼ $-3.442M ▼ $-173.636K ▼ $1.053M ▼ $-2.563M ▼ $-3.592M ▼
Q4-2024 $-2.991M ▼ $-2.375M ▲ $0 $6.05M ▲ $3.675M ▲ $-2.375M ▲
Q3-2024 $-2.875M $-3.385M $0 $5.148M $1.763M $-3.385M

Five-Year Company Overview

Income Statement

Income Statement OS Therapies is still a pure research-stage biotech: it has essentially no product sales yet and runs at a loss, which is typical for a young drug developer. The pattern over recent years shows steady, recurring losses rather than any sign of commercial scale-up. The step-up in operating costs in the most recent period suggests growing spending on clinical trials and corporate build‑out post-listing. Overall, this is a story of R&D and overhead outlays without offsetting revenue so far, so the path to future profitability depends almost entirely on successful drug approvals or partnerships.

Balance Sheet

Balance Sheet The balance sheet is extremely light, with minimal assets, very limited cash, and a small but persistent layer of debt. Equity is negative, which signals that accumulated losses already exceed the capital invested so far. This structure is common in micro‑cap, pre‑revenue biotechs, but it also means there is little balance‑sheet cushion if trials are delayed or costs rise. In practice, the company appears highly dependent on continued access to outside funding, whether from equity raises, debt, grants, or potential future deal payments.

Cash Flow

Cash Flow Cash flows mirror the income statement: money is flowing out to fund operations and R&D, with no offsetting inflows from product sales. Operating cash burn is small in absolute terms but large relative to the tiny asset base, and there is effectively no investment in physical assets, which is in line with an R&D‑heavy, lab‑based model. The key question is not past cash use, but how quickly cash burn could rise as trials expand, and how reliably the company can raise new funds to cover that burn.

Competitive Edge

Competitive Edge OS Therapies targets a very specific and underserved cancer niche—osteosarcoma—where there have been few new treatments for decades. That narrow focus, together with rare disease and pediatric regulatory designations, gives it a clearer path and less direct competition than in big, crowded cancer markets. Its Listeria‑based immunotherapy and tunable ADC platform are differentiated technologies with patent protection stretching well into the future, and early dog osteosarcoma approval adds a real‑world proof point. At the same time, the company is small and up against much larger oncology players in the broader HER2 and ADC arenas, so execution, trial outcomes, and partnering will be critical to maintaining any edge.

Innovation and R&D

Innovation and R&D Innovation is the core of the OS Therapies story. The company is built around two proprietary platforms: a modified Listeria bacterium used to train the immune system to attack HER2‑positive tumors, and a flexible ADC linker system designed to release cancer‑killing drugs more precisely inside tumors. The lead program, OST‑HER2, has encouraging Phase 2 data in osteosarcoma and a supportive regulatory dialogue, including multiple special designations and a path that may allow for faster approval. The early tADC work and canine osteosarcoma program add diversification and potential future revenue or partnering options. However, all of this remains in the clinical and preclinical stage, so scientific, safety, and regulatory risks are still high.

Summary

OS Therapies is a very early‑stage, oncology‑focused biotech that is rich in scientific ambition but thin in financial resources. The company has no commercial revenue, a very small and leveraged balance sheet, and ongoing cash burn to fund R&D—meaning its business outlook is tightly tied to its ability to raise capital and to move its lead programs successfully through the clinic. On the opportunity side, it operates in an area of high unmet medical need with favorable regulatory tailwinds, strong intellectual property, and a pair of distinctive technology platforms that could be relevant beyond a single cancer. On the risk side, it faces the usual binary uncertainties of drug development, size disadvantages versus larger competitors, and a need for repeated financing until a product is approved or partnered. The overall picture is of a high‑risk, high‑uncertainty biotech story whose future will largely be determined by upcoming clinical and regulatory milestones for OST‑HER2 and the progress of its ADC platform.

NEWS

November 25, 2025 · 9:21 AM UTC

OS Therapies Receives Non-Proprietary Name 'daznelimgene lisbac' for OST-HER2 from World Health Organization

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November 21, 2025 · 4:15 PM UTC

Stonegate Capital Partners Updates Coverage on OS Therapies Inc. (OSTX) 3Q25

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November 20, 2025 · 7:40 AM UTC

OS Therapies to Spinoff OS Animal Health into Standalone Public Company

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November 17, 2025 · 6:00 AM UTC

OS Therapies Reports Third Quarter 2025 Financial Results and Provides Business Update

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October 22, 2025 · 9:15 AM UTC

OS Therapies Announces Overall and Event Free Survival Key Subgroup Data for OST-HER2 in Recurrent, Fully Resected, Pulmonary Metastatic Osteosarcoma

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