Gt Biopharma Inc Stock Price, News & Analysis

GT Biopharma, Inc. (NASDAQ: GTBP) has successfully closed an underwritten public offering of 4,300,000 Units at $5.50 per Unit, raising approximately $23.6M in gross proceeds. The offering includes a 45-day over-allotment option for underwriters to purchase an additional 645,000 Units. Following the offering, GT Biopharma's cash position is about $30M, extending its runway through 2022, and successfully extinguishing over $25M in debt. This financing supports ongoing clinical trials for its TriKE™ platform targeting cancer therapies, particularly for Acute Myeloid Leukemia and Myelodysplastic syndromes.

GT Biopharma announced an underwritten public offering of 4,300,000 Units at $5.50 each, expected to close on February 16, 2021. The offering aims to raise approximately $23.6 million before expenses. An over-allotment option allows underwriters to purchase an additional 645,000 Units. Following a 1-for-17 reverse stock split, GT Biopharma's common stock will begin trading on The Nasdaq Capital Market under the ticker symbol GTBP on February 11, 2021. The offering is facilitated by Roth Capital Partners and Dawson James Securities.

GT Biopharma has appointed Dr. Greg Berk, M.D. to its Board of Directors. Dr. Berk brings extensive experience in oncology drug development, having previously held senior positions at Verastem, Sideris Pharmaceuticals, and BIND Therapeutics. He is expected to contribute significantly to the advancement of the company's proprietary NK cell engager (TriKE™) technology, particularly in developing its lead candidate, GTB-3550, for treating acute myeloid leukemia (AML). GT Biopharma aims to harness the immune system to combat cancer effectively.

GT Biopharma has appointed Michael Handelman, CPA, as its new Chief Financial Officer. Mr. Handelman has an extensive background, previously serving as CFO for Iovance Biotherapeutics and Clickstream Corporation. His expertise in financial management within the biotech sector is expected to enhance GT Biopharma's operational and clinical development of its NK cell engager technology, TriKE™. The company focuses on innovative cancer therapies, particularly its GTB-3550 candidate aimed at treating acute myeloid leukemia (AML) and related conditions.

GT Biopharma has announced that its abstract, titled "GTB-3550 TriKE™ for the Treatment of High-Risk Myelodysplastic Syndromes (MDS) and Refractory/Relapsed Acute Myeloid Leukemia (AML) Safely Drives Natural Killer (NK) Cell Proliferation At Initial Dose Cohorts", has been selected for oral presentation at the 62nd ASH Annual Meeting on December 5, 2020. Interim data from 7 enrolled patients showed promising NK cell activity without serious adverse events. The drug aims to offer therapy for patients lacking actionable mutations, with plans for further clinical evaluation to demonstrate potential efficacy.

GT Biopharma, Inc. (OTCQB:GTBP) announced that its abstract regarding GTB-3550 TriKE for treating high-risk myelodysplastic syndromes (MDS) and acute myeloid leukemia (AML) has been selected for oral presentation at the 62nd American Society of Hematology (ASH) Annual Meeting on December 5, 2020. The abstract highlights NK cell proliferation at initial dose cohorts. The results will also be published in the November supplemental issue of the journal Blood. GTB-3550 is currently under evaluation in a Phase I/II clinical trial targeting CD33 positive leukemias.

GT Biopharma announced the addition of Dr. Samir Taneja and Dr. Philip Werthman to its Scientific and Medical Advisory Board. Dr. Taneja, a urologic oncology expert from NYU, brings extensive knowledge in cancer treatment. Dr. Werthman, noted for his contributions in reproductive medicine, offers valuable experience in translating research into commercial success. CEO Anthony Cataldo expressed optimism about how their expertise will enhance GT Biopharma's mission to expand its TriKE technology applications.

GT Biopharma has entered a partnership with Cytovance Biologics for exclusive GMP manufacturing of three TriKE^TM therapeutic candidates. The deal allows for a $6 million payment in cash or shares, contingent on milestone achievements within 12 months. Cytovance's Keystone^TM systems promise enhanced production yields. GT Biopharma's TriKE^TM platform targets NK cell engagement to treat cancers, with its first product candidate, GTB-3550, in Phase I/II trials for AML. This partnership highlights GT Biopharma's commitment to expanding clinical opportunities.

GT Biopharma announced the treatment completion of its first patient in the GTB-3550 TriKE Phase I/II clinical trial, achieving a reduction in acute myeloid leukemia (AML) blast levels from 18% to 12%. The patient displayed enhanced NK cell activity, attributed to the IL-15 component, without adverse reactions. This trial aims to evaluate the safety, tolerability, and efficacy of GTB-3550 in high-risk hematologic malignancies. The company expresses hope for continued positive outcomes as it escalates dosing in future treatments.