Intensity Therapeutics, Inc. (NASDAQ: INTS), a late-stage clinical biotechnology company, announced on April 25, 2025, the pricing of a $2.35 million public offering to support its ongoing clinical trials for novel cancer immunotherapies. The Shelton, Connecticut-based company is advancing its lead candidate INT230-6, an innovative intratumoral treatment designed to directly kill cancer cells while stimulating immune system recognition of tumors.
The "reasonable best efforts" public offering includes 3,133,333 shares of common stock (or common stock equivalents) along with accompanying Series B-1 and Series B-2 common warrants, each to purchase up to 3,133,333 shares of common stock. The combined purchase price is set at $0.75 per share and accompanying warrants.
Financing Details and Strategic Allocation
The Series B-1 warrants will be immediately exercisable at $0.85 per share with a 5-year expiration period, while the Series B-2 warrants will have the same exercise price but expire after 18 months. The offering is expected to close around April 28, 2025, pending customary closing conditions.
A.G.P./Alliance Global Partners is serving as the lead placement agent, with Brookline Capital Markets, a division of Arcadia Securities, LLC, acting as co-placement agent for the transaction.
"The proceeds from this offering will directly support our most advanced clinical programs," said a company representative. "We're particularly focused on enrolling patients in our INVINCIBLE-4 Study and continuing treatment for existing patients in our Phase 3 INVINCIBLE-3 Study."
The company intends to allocate the net proceeds primarily toward:
- Patient enrollment in the INVINCIBLE-4 Study, a Phase 2 trial evaluating INT230-6 in presurgical triple-negative breast cancer
- Treatment of existing patients in the INVINCIBLE-3 Study, a Phase 3 trial testing INT230-6 as second or third-line monotherapy for soft tissue sarcoma
- Working capital and general corporate purposes
INT230-6: A Novel Approach to Cancer Treatment
Intensity's flagship product, INT230-6, represents a potentially transformative approach to cancer therapy. The drug's engineered chemistry enables aqueous cytotoxic-containing formulations to penetrate and saturate a tumor's dense, high-fat, pressurized environment following direct intratumoral injection.
Clinical trials have demonstrated INT230-6's ability to kill tumors and elicit adaptive immune responses within days of injection. This mechanism of action differs significantly from conventional immunotherapies and could potentially convert deadly cancers into manageable chronic diseases, even for malignancies that don't respond to standard immunotherapy approaches.
The company has already completed two clinical studies involving over 200 patients treated with INT230-6:
- A Phase 1/2 dose escalation study in metastatic cancers including sarcomas
- A Phase 2 randomized control trial (INVINCIBLE-2) in locally advanced breast cancer in women prior to surgery
Advancing Clinical Pipeline
Intensity's current clinical development program includes two active trials:
The INVINCIBLE-3 Study is a Phase 3 trial evaluating INT230-6 as second or third-line monotherapy compared to standard of care in soft tissue sarcoma, with overall survival as the primary endpoint.
The INVINCIBLE-4 Study, conducted in collaboration with The Swiss Group for Clinical Cancer Research (SAKK), is part of a Phase 2/3 program comparing INT230-6 followed by standard immunochemotherapy versus standard therapy alone in patients with presurgical triple-negative breast cancer. The primary endpoint is pathological complete response (pCR).
Dr. Lewis Bender, CEO of Intensity Therapeutics, has previously stated, "Our approach represents a fundamentally different way to treat cancer. By directly attacking the tumor and simultaneously engaging the immune system, we're seeing promising results even in traditionally difficult-to-treat cancers."
Market Context and Industry Impact
The financing comes at a critical time for Intensity as it advances its late-stage clinical programs. The intratumoral therapy space has gained significant attention in recent years as researchers seek alternatives to systemic treatments that often come with substantial side effects.
INT230-6's mechanism—directly killing tumor cells while triggering immune responses—positions it uniquely in the cancer treatment landscape. If successful in late-stage trials, the therapy could offer new options for patients with limited treatment alternatives, particularly those with solid tumors that haven't responded to conventional approaches.
The company's stock is traded on the NASDAQ under the ticker symbol INTS. While the offering price of $0.75 per share represents a discount to recent trading prices, the financing provides essential capital to advance the company's clinical programs through critical development milestones.
Looking Forward
With two active late-stage clinical trials and a novel therapeutic approach, Intensity Therapeutics is positioned at an important juncture in its development. The successful completion of this financing round provides the company with resources to continue advancing its clinical programs while potentially reshaping treatment paradigms for multiple cancer types.
As the INVINCIBLE-3 and INVINCIBLE-4 studies progress, oncologists and industry observers will be watching closely to see if INT230-6 can deliver on its promise of transforming deadly cancers into manageable conditions through its innovative direct-to-tumor approach.
