GT Biopharma (GTBP) Registration Filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company developing immuno-oncology products using proprietary TriKE® and Dual Targeting TriKE® fusion protein platforms to harness and enhance natural killer (NK) cell cancer-killing abilities.

• TriKE®s are designed to target a range of tumor antigens in hematologic malignancies and solid tumors, with potential for both monotherapy and combination therapy.

• The pipeline includes GTB-3650 (CD33, AML/MDS, Phase 1), GTB-5550 (B7H3, solid tumors, IND expected H1 2025), GTB-6550 (HER2, solid tumors), GTB-7550 (CD19, B-cell malignancies and autoimmune disorders), and others.

• Second-generation TriKE®s utilize camelid nanobody technology for enhanced potency and stability.

Financial performance and metrics

• As of September 30, 2024, cash and cash equivalents were $6.4 million, with working capital of $2.1 million.

• Net loss for the nine months ended September 30, 2024, was approximately $9.4 million, with $10.4 million used in operations.

• After the offering, pro forma cash and cash equivalents would be $13.5 million, and total stockholders' equity $9.2 million, assuming full subscription.

• Immediate dilution to new investors is estimated at $0.73 per share, with an as-adjusted net tangible book value of $1.65 per share post-offering.

Use of proceeds and capital allocation

• Estimated net proceeds of $7.1 million (assuming full subscription) will be used for working capital, clinical program funding, and general corporate purposes, including advancing clinical and preclinical product candidates.

• Proceeds may vary significantly as there is no minimum offering amount.