OS Therapies Incorporated (OSTX) AI Stock Analysis

• Market Cap: $48.95M
• Dividend Yield: N/A
• Average Volume (3M): 558.43K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.06
• Revenue Growth: N/A
• EPS Growth: -133.00%
• Country: US
• Employees: 4
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.21
• Shares Outstanding: 35,214,350
• 10 Day Avg. Volume: 497,421
• 30 Day Avg. Volume: 558,427
• PEG Ratio: -0.30
• Price to Book (P/B): 110.07
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.27
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -199.45
• Enterprise Value/Ebitda: -2.65
• 1Y Price Target: $11.50
• Price Target Upside: 698.61% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $1.50 ▲(4.17% Upside)

The score is held down primarily by weak financial performance (no revenue, widening losses, and continued cash burn) and negative-to-neutral technical momentum (below key moving averages with negative MACD). A recent capital raise that reportedly extends runway into 2027 helps mitigate near-term liquidity risk, but valuation remains constrained by ongoing losses and the lack of a dividend.

Positive Factors

Improved capital structure (zero debt)

Zero reported debt reduces fixed financial obligations and bankruptcy risk, giving management structural flexibility to prioritize clinical development and regulatory work. Positive equity after prior deficits signals recapitalization that supports operations over the medium term.

Fresh financing extends runway into 2027

The $7.53M warrant-inducement proceeds materially extend runway, funding OST‑HER2 regulatory filings, commercial preparation and a proposed OS Animal Health spinoff. Securing multi-quarter funding raises the probability of reaching key clinical/regulatory milestones without immediate distress financing.

Focused clinical-stage pipeline in osteosarcoma

A concentrated R&D focus on immunotherapy for osteosarcoma (OST‑HER2) creates specialist expertise, clearer go-to-market strategy and potential first-mover advantages in a niche oncology indication. This structural focus can attract partners and streamline development efforts over months.

Negative Factors

No revenue and deeply negative profitability

Absence of commercial revenue means the business is entirely funding operations through capital markets. Deepening losses erode the modest equity base and increase reliance on future financings, creating persistent financial vulnerability until clinical success or partnering occurs.

Sustained cash burn (~-$13M TTM)

A ~-$13M TTM cash burn implies recurring external funding needs to sustain development programs. Even with recent proceeds, this structural negative cash flow constrains the firm’s optionality and raises the risk that future rounds, asset sales, or program cuts will be required absent milestone-driven inflows.

Dilution risk from warrant restructuring

The warrant inducement lowered exercise prices and issued new long-dated warrants, which, while raising near-term liquidity, structurally increases potential share dilution and investor overhang. This financing profile can pressure existing holders and limit upside per share across future financings.

OS Therapies Incorporated Business Overview & Revenue Model

Company Description

OS Therapies Incorporated, a clinical stage biopharmaceutical company, focuses on the identification, development, and commercialization of treatments for osteosarcoma and other solid tumors in the United States. Its pipeline includes OST-HER2, an off-the-shelf immunotherapy for osteosarcoma patients; and OST-tunable drug conjugate (OST-tADC), an antibody-drug conjugate technology, with a plug-and-play platform that features tunable pH sensitive silicone linkers. OS Therapies Incorporated was incorporated in 2018 and is based in Rockville, Maryland.

How the Company Makes Money

OS Therapies Incorporated generates revenue primarily through the commercialization of its proprietary therapies once they receive regulatory approval. The company engages in strategic partnerships and licensing agreements with larger pharmaceutical companies to co-develop and market its treatments, thereby earning revenue through upfront payments, milestone achievements, and royalties on sales. Additionally, OS Therapies may receive funding through grants and research collaborations with academic institutions and government agencies, which support its ongoing research and development efforts.

OS Therapies Incorporated Financial Statement Overview

Summary

Overall fundamentals are weak: TTM shows no revenue, deeply negative profitability, and significant ongoing cash burn (operating cash flow and free cash flow roughly -$13M). The main offset is an improved capital structure with zero debt and positive equity, but returns on equity are very poor and continued losses imply ongoing financing/dilution risk.

Income Statement

TTM (Trailing-Twelve-Months) shows no revenue and deeply negative profitability (gross profit, EBIT/EBITDA, and net income all materially negative). Losses have expanded versus 2024 (annual), indicating rising operating spend without offsetting commercial traction yet. While this profile is not unusual for early-stage biotechnology, the current scale of losses and lack of revenue materially weaken income-statement quality.

Balance Sheet

Leverage is currently low with total debt at zero in TTM (Trailing-Twelve-Months), and equity is positive ($4.7M) versus negative equity in 2021–2023, pointing to a meaningful recapitalization/improved capital structure. Total assets also increased versus 2024 (annual). The key weakness is very poor returns on equity in TTM (large loss on a modest equity base), which highlights ongoing dilution/financing risk if losses persist.

Cash Flow

Cash generation remains weak: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both significantly negative (roughly -$13M), implying continued cash burn to fund operations. Free cash flow improved versus 2024 (annual) (positive growth), but the business still relies on external funding absent revenue. A mitigating factor is that free cash flow broadly tracks reported losses (free cash flow to net income ~1), suggesting losses are largely reflected in cash usage rather than being masked by non-cash items.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-239.54K	-2.78K	-4.22K	-805.00	-1.16M	-4.25K
EBITDA	-18.04M	-6.83M	-4.34M	-4.45M	-4.84M	-5.65K
Net Income	-18.28M	-8.88M	-7.79M	-6.25M	-7.42M	-6.03K
Balance Sheet
Total Assets	8.95M	5.54M	798.08K	509.11K	325.89K	1.68B
Cash, Cash Equivalents and Short-Term Investments	1.88M	5.53M	38.98K	171.48K	80.79K	1.23B
Total Debt	0.00	0.00	14.61M	10.35M	7.07M	6.77B
Total Liabilities	4.25M	4.73M	24.81M	18.07M	11.78M	8.00B
Stockholders Equity	4.71M	811.49K	-24.02M	-17.56M	-11.45M	-6.33B
Cash Flow
Free Cash Flow	-13.35M	-7.28M	-3.01M	-3.79M	-4.41M	-2.42B
Operating Cash Flow	-12.88M	-7.28M	-3.01M	-3.79M	-4.40M	-2.41B
Investing Cash Flow	-466.42K	0.00	1.15K	230.88K	200.47K	158.29M
Financing Cash Flow	13.37M	12.78M	2.87M	3.65M	3.05M	3.48B

OS Therapies Incorporated Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ANVS	46 Neutral	$71.56M	-1.75	-246.14%	―	―	62.84%
GANX	46 Neutral	$68.46M	-2.83	-261.72%	―	―	42.29%
OSTX	45 Neutral	$48.95M	-1.73	-914.04%	―	―	-133.00%
ATNM	45 Neutral	$38.06M	-1.08	-133.09%	―	11.11%	20.65%

OS Therapies Incorporated Corporate Events

OS Therapies Raises Capital Through Warrant Inducement Agreements

On January 10, 2026, OS Therapies entered into warrant inducement agreements with nine accredited investors holding existing warrants, securing the exercise or pre‑funding of all such warrants at a reduced $1.40 exercise price in exchange for new five‑year warrants on the same pricing terms. The transaction, announced on January 12, 2026 and supported by Ceros Capital Markets as solicitation agent, generated approximately $7.53 million in gross proceeds, extending the company’s cash runway into 2027 and funding regulatory submissions and commercial preparations for OST‑HER2 in metastatic osteosarcoma across the U.S., U.K. and EU, as well as preparations for the proposed spinoff of its OS Animal Health subsidiary and general corporate needs, thereby strengthening its balance sheet and addressing prior market concerns about liquidity while deepening backing from long‑term investors.

The most recent analyst rating on (OSTX) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on OS Therapies Incorporated stock, see the OSTX Stock Forecast page.