GT Biopharma Announces Exercise of Warrants

SAN FRANCISCO, CALIFORNIA, Feb. 25, 2025 (GLOBE NEWSWIRE) -- GT Biopharma, Inc. (the “Company”) (NASDAQ: GTBP), a clinical stage immuno-oncology company focused on developing innovative therapeutics based on the Company's proprietary TriKE^® natural killer (“NK”) cell engager platform, today announced that it has entered into definitive agreements for the exercise of certain existing warrants to purchase an aggregate of 302,069 shares of its common stock having an exercise price of $4.35 per share, originally issued in May 2024. The resale of the shares of common stock issuable upon exercise of the existing warrants is registered pursuant to an effective registration statement on Form S-1 (File No. 333-280326). The gross proceeds to the Company from the exercise of the existing warrants are expected to be approximately $0.7 million, prior to deducting placement agent fees and offering expenses payable by the Company.