Core Viewpoint - OS Therapies reported significant clinical and regulatory progress in the second quarter of 2025, particularly regarding its lead asset OST-HER2 for treating osteosarcoma, with plans for a Biologics Licensing Application (BLA) submission by the end of 2025 [4][12]. Financial Results - The company recorded a net operating loss of $4.537 million in Q2 2025, compared to a loss of $1.557 million in Q2 2024, primarily due to regulatory expenses related to the OST-HER2 program [8]. - Net loss per share was $0.19 on 25.114 million weighted average shares outstanding in Q2 2025, compared to a loss of $0.26 per share on 5.991 million shares in Q2 2024 [8]. Clinical and Regulatory Updates - Updated interim data from the Phase 2b trial showed a statistically significant overall survival rate of 66.6% for OST-HER2 treated patients compared to 40% for controls (p = 0.0046) [7]. - The final 12-month Event Free Survival (EFS) data indicated a benefit of 35% for OST-HER2 treated patients versus 20% for historical controls (p = 0.0197) [7]. - The FDA confirmed that OST-HER2 meets the biological definition of Regenerative Medicine Advanced Therapy (RMAT) and issued a BLA number in preparation for the Accelerated Approval submission [5][6]. Strategic Partnerships and Market Position - The company has established a U.S. commercial partnership with Eversana, positioning OST-HER2 for a potential launch in the first half of 2026 [5][6]. - OS Therapies raised $4.2 million through a warrant exercise inducement and exchange offering, extending its cash runway into mid-2026 [5][6]. International Expansion - The company submitted an Innovative Licensing and Access Pathway (ILAP) request to the UK's MHRA and plans to synchronize the approval process with the FDA via Project Orbis [4][6]. - A rapporteur meeting with the European Medicines Agency (EMA) is scheduled for October 2025 to initiate the regulatory approval process in Europe [6][12]. Pipeline and Future Prospects - OS Therapies completed the acquisition of a listeria cancer immunotherapy platform, expanding its pipeline with four clinical-stage and eight preclinical-stage candidates [7]. - The company is also advancing its next-generation Antibody Drug Conjugate (ADC) platform, known as tunable ADC (tADC) [10].