Stemline Therapeutics, Inc. Announces Exercise of Option to Purchase Additional Shares

Published: May 23, 2013

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NEW YORK, May 23, 2013 (GLOBE NEWSWIRE) -- Stemline Therapeutics, Inc. (Nasdaq:STML), a clinical-stage biopharmaceutical company developing oncology therapeutics that target both cancer stem cells (CSCs) and tumor bulk, today announced that the underwriters have exercised in full their option to purchase an additional 620,689 shares of common stock. The option to purchase additional shares is being exercised in connection with Stemline's previously announced public offering of 4,137,931 shares of common stock at a public offering price of $14.50 per share. As a result of the exercise of the option, the total gross proceeds to Stemline from the offering are expected to be approximately $69,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. The closing of the option to purchase additional shares is expected to occur on or about May 28, 2013.

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