Bio-Path (BPTH) Registration Filing summary

Offering details and pricing

• Up to 13,003,901 shares of common stock, pre-funded warrants, and three series of common warrants are being offered, with each share or pre-funded warrant sold together with Series A, B, and C warrants; all at an assumed combined public offering price of $0.769 per share and accompanying warrants.

• Series A warrants expire five years, Series B in two years, and Series C in nine months from the Warrant Stockholder Approval Date or issuance if pricing conditions are met.

• Placement Agent Warrants to purchase up to 975,293 shares are included, exercisable at 125% of the public offering price.

• No minimum offering amount is required; the offering is on a best efforts basis and may close with less than the maximum amount sold.

• The offering is expected to raise approximately $8.9 million in net proceeds, assuming full subscription at the assumed price.

Company overview and business model

• Focuses on clinical and preclinical development of RNAi nanoparticle drugs for oncology and obesity, using the DNAbilize® platform for systemic delivery of antisense DNA.

• Four drug candidates in development: BP1001 (prexigebersen) for AML, BP1002 for Bcl-2-driven cancers, BP1003 for STAT3-driven solid tumors, and BP1001-A for solid tumors and metabolic diseases.

• Pipeline includes programs for acute myeloid leukemia, lymphoma, pancreatic, ovarian, endometrial, and breast cancers, as well as obesity and Type 2 diabetes.

• Business model includes out-licensing and partnering opportunities for DNAbilize®-based products.

Financial performance and metrics

• As of September 30, 2024, cash balance was $0.6 million; accumulated deficit was $114.7 million.

• Net loss for the nine months ended September 30, 2024 was $7.1 million; net loss for the year ended December 31, 2023 was $16.1 million.

• No significant revenue to date; operations funded primarily through equity offerings and private placements.

• Research and development expenses were $5.5 million for the nine months ended September 30, 2024, and $11.6 million for the year ended December 31, 2023.