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Stemline Therapeutics Prices $60 Million Public Offering of Common Stock

NEW YORK, May 16, 2013 (GLOBE NEWSWIRE) -- Stemline Therapeutics, Inc. (Nasdaq:STML), a clinical-stage biopharmaceutical company developing oncology therapeutics that target both cancer stem cells (CSCs) and tumor bulk, today announced the pricing of an underwritten public offering of 4,137,931 shares of its common stock at a public offering price of $14.50 per share. Stemline has granted the underwriters a 30-day option to purchase up to 620,689 additional shares of common stock from Stemline. The gross proceeds to Stemline from the public offering are expected to be $60.0 million, before underwriting discounts and commissions and other estimated offering expenses. Stemline intends to use the net proceeds from the public offering to fund the clinical development of SL-401 and SL-701 and other general corporate purposes.

Jefferies LLC and Aegis Capital Corp. are acting as joint book-running managers for the offering. Roth Capital Partners is acting as co-lead manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 16, 2013.

This offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY, 10022, or by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com or Aegis Capital Corp., Attention: Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, or by telephone at 212-813-1010, or by email at prospectus@aegiscap.com. Investors may also obtain these documents for no charge by visiting the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Stemline:

Stemline Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel oncology therapeutics that target both cancer stem cells (CSCs) as well as the tumor bulk. Among Stemline's drug candidates are SL-401 and SL-701, both of which have demonstrated clinical activity, including durable complete responses (CRs), and an overall survival (OS) benefit versus historical controls in Phase 1/2 studies of patients with advanced hematological and brain cancer, respectively. For more information about Stemline Therapeutics, visit www.stemline.com.

CONTACT: Stemline Contact: Mark Jacobson Director, Corporate Development Stemline Therapeutics, Inc. 750 Lexington Avenue Sixth Floor New York, NY 10022 Tel: 646-502-2307 Email: mjacobson@stemline.comSource:Stemline Therapeutics, Inc.