Stemline raises $45M in follow-on

Stemline Therapeutics Inc. (NASDAQ:STML) raised $45 million through the sale of 4.5 million shares at $10 in a follow-on underwritten by Jefferies, Cowen, Ladenburg Thalmann, H.C. Wainwright, Roth Capital Partners, Joseph Gunnar and Aegis Capital. The price is a 9.1% discount to the company's close of $11 on Thursday, when Stemline proposed the offering after market hours.

Stemline is conducting a Phase II trial of lead candidate SL-401 to treat blastic plasmacytoid dendritic cell neoplasm (BPDCN), a form of acute myelogenous leukemia (AML). The company hopes to submit a BLA to FDA next half for the IL-3 receptor targeting agent linked to a truncated diphtheria toxin payload...