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Stemline Therapeutics plans common stock offering

Stemline Therapeutics Inc. plans to sell common stock in an underwritten public offering.

The net proceeds will go toward development of SL-401, which is currently being tested in a phase 2 clinical trial to treat blastic plasmacytoid dendritic cell neoplasm, a form of blood cancer. The funds will go toward clinical, regulatory, manufacturing and potential commercial activities of the drug, for which the company expects to file a biologics license application with the FDA in the second half.

It will also use the proceeds for clinical development of SL-801 and SL-701, two drugs in development to treat blood cancer, as well as research and development activities and other general corporate purposes.

Stemline will grant underwriters an option to purchase up to an additional 15% of the shares offered.

Jefferies LLC is acting as book-running manager for the offering.