Welcome to our dedicated page for Surface Oncology news (Ticker: SURF), a resource for investors and traders seeking the latest updates and insights on Surface Oncology stock.
Surface Oncology, Inc. (NASDAQ: SURF) is a clinical-stage immuno-oncology company pioneering the development of next-generation cancer immunotherapies. Founded on cutting-edge research from world-renowned immunologists and cancer researchers from institutions like Memorial Sloan Kettering and Harvard, Surface Oncology aims to harness the power of the immune system to fight cancer more effectively.
The company's innovative pipeline is focused on the tumor microenvironment, featuring two wholly-owned antibody programs: SRF388 and SRF114. SRF388 targets IL-27, an immunosuppressive cytokine, and is currently in Phase 2 clinical trials. It has shown promise as both a monotherapy and in combination with checkpoint inhibitors, and has been granted Orphan Drug and Fast Track designations by the FDA for refractory hepatocellular carcinoma. SRF114, in Phase 1 trials, specifically depletes CCR8+ regulatory T cells within the tumor microenvironment, aiming to drive anti-tumor immunity.
Surface Oncology has also established significant partnerships with major pharmaceutical companies, including Novartis and GlaxoSmithKline, to advance additional pipeline programs. Their collaboration with Novartis targets CD73 (NZV930), currently in Phase 1, while their partnership with GlaxoSmithKline focuses on PVRIG (GSK4381562), also in Phase 1.
Recently, Surface Oncology completed a $35 million Series A financing round, bolstered by A-list investors such as Atlas Venture, New Enterprise Associates, Fidelity Biosciences, Lilly Ventures, Amgen Ventures, Novartis Institute for Biomedical Research, and former Bristol-Myers Squibb R&D head Elliott Sigal. The company has used these funds to advance its clinical programs and explore new therapeutic avenues.
In a significant development, Surface Oncology has announced a proposed merger with Coherus BioSciences. This merger aims to combine resources to advance SRF388 and SRF114 through clinical trials and eventually to market. The merger is expected to provide Surface with net cash of $20 million to $25 million at closing, although the outcome is contingent on shareholder approval.
Financially, Surface Oncology reported a net loss of $28.2 million for the second quarter of 2023. The company anticipates that its cash reserves will sustain operations through the end of 2023. Amidst these developments, Surface continues to focus on its core mission: to develop innovative, next-generation cancer treatments that offer meaningful and sustained anti-tumor responses.
Surface Oncology (Nasdaq: SURF) reported promising data for SRF388, showing two confirmed partial responses in squamous NSCLC and durable disease stabilization in a third patient lasting over a year. The company plans to focus resources on advancing SRF388 and SRF114, extending its cash runway into Q2 2024. Financial results for Q3 2022 indicate cash and equivalents totaled $146.4 million, with a net loss of $23.2 million. Surface has paused development of SRF617 and is restructuring to streamline efforts. A conference call will discuss these developments.
Surface Oncology (Nasdaq: SURF) and VIB announced the publication of a study in Cell Reports, exploring the structural basis of IL-27 receptor activation. The study reveals how the anti-IL-27 antibody SRF388 inhibits IL-27 cytokine signaling by competing with its receptor, potentially enhancing treatment for tumors influenced by IL-27. Key findings indicate the unique structure of the IL-27 heterodimer and its receptor interaction, supporting ongoing clinical investigations of SRF388 in cancers such as liver and kidney.
Surface Oncology (SURF) announced new preclinical data indicating that IL-27 induces a gene expression signature linked to therapy resistance. This data will be presented at the 10th Annual Cytokines Meeting on September 20-23, 2022. The findings support the ongoing clinical investigation of SRF388, a first-in-class anti-IL-27 monoclonal antibody. Key data highlights include the role of IL-27 in reducing immune response and its association with resistance to treatments like chemotherapy and PD-(L)1 blockade. SRF388 has shown promise in inhibiting tumor growth in mouse models and early clinical trials.
Surface Oncology (Nasdaq: SURF) will have its CEO, Rob Ross, participate in a fireside chat at the Baird 2022 Global Healthcare Conference on September 14, 2022, at 10:15 a.m. ET. This event will provide insights into the company’s development of next-generation immunotherapies targeting the tumor microenvironment. Interested attendees can access a live webcast on Surface Oncology’s Investor Relations page, with a replay available afterward. The company is advancing several clinical-stage programs and collaborations aimed at enhancing cancer treatment.
Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company, announced that CEO Rob Ross will participate in a fireside chat at the Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 2:30 p.m. ET. The event will be available via a live webcast on the Surface Oncology website, with a replay accessible afterward. Surface is focused on developing next-generation therapies targeting the tumor microenvironment, with clinical-stage programs for CD39 and IL-27, and partnerships with Novartis and GlaxoSmithKline.
Surface Oncology (SURF) reported clinical advancements and financial results for Q2 2022. The company showcased promising SRF388 data at the ASCO Annual Meeting, indicating monotherapy responses in solid tumors. SRF617 interim results are expected in Q4 2022. With $156.6 million in cash, operations are funded through 2024. However, net loss rose to $25.2 million, reflecting increased R&D expenses of $18.2 million, driven by ongoing trials. Upcoming milestones include multiple clinical updates in 1H 2023, particularly regarding SRF388 in HCC.
Surface Oncology (Nasdaq: SURF) announced that CEO Rob Ross, M.D., will speak at the 2022 Wedbush PacGrow Healthcare Conference on August 9, 2022, at 8:00 am ET. The panel discussion, titled “IOs Wide Open - Opportunity and Challenges in Immuno-Oncology,” is a significant opportunity for the company to discuss advancements in immunotherapy targeting the tumor microenvironment. Interested parties can access a live webcast via the company’s website, with a replay available afterwards.
Surface is focused on developing innovative cancer immunotherapies, including its clinical-stage programs SRF617 and SRF388.
Surface Oncology (Nasdaq: SURF) has announced the appointment of Dr. Carsten Brunn to its board of directors. With over 25 years of senior leadership experience in the biotech and pharmaceutical sectors, Dr. Brunn has held prominent roles in companies such as Selecta Biosciences and Bayer. His expertise in driving innovation is expected to enhance Surface's mission in developing next-generation immunotherapies targeting the tumor microenvironment. The company operates several clinical-stage programs and partnerships aimed at delivering effective cancer treatments.
Surface Oncology (SURF) announced non-clinical findings supporting SRF388's potential in treating liver cancer, as published in Cancer Discovery. The study, conducted with Cedars-Sinai and Fox Chase Cancer Center, revealed that IL-27 promotes hepatocellular carcinoma (HCC) development and that targeting this pathway with SRF388 enhances immune response. The antibody is being evaluated in a Phase 2 trial in combination with atezolizumab and bevacizumab for advanced HCC. SRF388 has already received Orphan Drug and Fast Track designations from the FDA.
Surface Oncology, Inc. (Nasdaq: SURF) announced the granting of non-qualified stock options to two new employees to purchase 23,600 shares of common stock at an exercise price of $1.72, based on the June 1, 2022 closing price. These options, covered under the 2021 Inducement Plan, have a 10-year term and vest over four years. Surface Oncology focuses on developing innovative immunotherapies targeting the tumor microenvironment, with multiple clinical-stage programs and partnerships with major pharmaceutical companies.
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