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) announced the presentation of two scientific posters at the SITC 2021 Annual Meeting, sharing preclinical data on its antibody therapies SRF617 and SRF388. SRF617, a CD39 inhibitor, shows potential to enhance tumor-infiltrating CD8+ T cells and reduce immune cell CD39 expression. Additionally, SRF388’s findings suggest that IL-27 plays a key role in treatment-resistant lung cancer, supporting its development across various tumor types. The posters will be available on Surface's website post-presentation.
Surface Oncology (Nasdaq: SURF) has announced that CEO Rob Ross, M.D., will participate in a fireside chat at the Cowen Fifth Annual IO Next Summit on November 15, 2021, at 12:45 p.m. ET. The session will be accessible via a live audio stream and archived webcast on the company's website.
Surface Oncology focuses on next-generation immunotherapies aimed at the tumor microenvironment, featuring clinical-stage programs like SRF617 and SRF388. The company partners with Novartis and GlaxoSmithKline for ongoing collaborations.
Surface Oncology (Nasdaq: SURF) announced a randomized Phase 2 study of SRF388 in combination with Roche’s atezolizumab and bevacizumab for treatment-naïve hepatocellular carcinoma (HCC). The company reported Q3 2021 financial results, with cash and equivalents at $149.7M, down from $175.1M at year-end 2020. R&D expenses rose to $14.0M from $9.5M year-over-year, while net loss increased to $19.9M ($0.44 per share) from $15.8M in Q3 2020. Despite this, Surface projects a cash runway through 2023 due to increased debt capacity of $50M.
Surface Oncology (Nasdaq: SURF) announced the presentation of preclinical data on its clinical-stage antibody therapies, SRF617 and SRF388, at the SITC 2021 Annual Meeting from November 10-14, 2021. Both therapies are under Phase 1 clinical studies, targeting CD39 and IL-27, respectively. Key presentations will include a poster on SRF617's inhibition of CD39 and another on IL-27's role in cancer progression. SRF617 is granted Orphan Drug status for advanced pancreatic cancer, while SRF388 has similar designations for hepatocellular carcinoma.
Surface Oncology (Nasdaq: SURF) has announced the initiation of a randomized Phase 2 clinical study for SRF388, a first-in-class antibody targeting IL-27, in treatment-naïve patients with hepatocellular carcinoma (HCC). The study will evaluate SRF388 in combination with Roche’s atezolizumab and bevacizumab, aiming to enhance clinical benefits. Approximately 100 patients will be enrolled, with primary endpoints focusing on progression-free survival. The company has expanded its debt facility to $50 million, securing a cash runway through 2023.
Surface Oncology (Nasdaq: SURF) reported encouraging Phase 1 study results for SRF388 and SRF617. SRF388 showed a confirmed partial response in a patient with non-small-cell lung cancer, while SRF617 demonstrated good tolerability. The company has cash reserves of $164.3 million as of June 30, 2021, down from $175.1 million at year-end 2020. Operating expenses rose to $19.1 million, resulting in a net loss of $19 million for Q2 2021. Company expects cash to fund operations through 2023.
Surface Oncology (NASDAQ: SURF) announced the appointment of Denice Torres to its board of directors. Torres brings 25 years of strategic leadership experience in healthcare, having held executive roles at Johnson & Johnson and Eli Lilly. CEO Rob Ross expressed excitement about Torres's commitment to cancer treatment innovation. Her track record includes being recognized as Healthcare Businesswomen’s Association Woman of the Year in 2015. Surface is focused on developing next-generation immunotherapies targeting the tumor microenvironment.
Surface Oncology (SURF) reported preliminary results from Phase 1 studies of SRF388 and SRF617, showing good tolerability and partial responses. SRF388 indicated a significant tumor shrinkage, with a 66% reduction in a lung cancer patient. In 6 out of 18 patients, disease stabilization was observed at eight weeks. SRF617 displayed promising potential as a combination therapy, achieving approximately 50% tumor shrinkage in one pancreatic cancer patient. Both compounds are advancing towards monotherapy and combination studies across various tumor types.
Surface Oncology (Nasdaq: SURF) announced a clinical trial collaboration with Roche to evaluate SRF388, their investigational anti-IL-27 antibody, in combination with Roche's atezolizumab and bevacizumab for treatment-naïve hepatocellular carcinoma (HCC). The combination aims to enhance patient outcomes given the existing efficacy of atezolizumab/bevacizumab. SRF388 has shown promise in preclinical studies against IL-27's immunosuppressive effects. It received both Orphan Drug and Fast Track designations from the FDA for HCC in November 2020.
Surface Oncology (Nasdaq: SURF) reported its Q1 2021 financial results and corporate highlights, marking a pivotal transition with new CEO Rob Ross. As of March 31, 2021, the company held $171 million in cash and equivalents. R&D expenses decreased to $10.5 million, while G&A expenses rose to $5.6 million, yielding a net loss of $15.6 million, compared to a net income of $22.6 million in Q1 2020. Upcoming milestones include clinical data presentations in June 2021, showcasing SRF617 and SRF388, both promising cancer immunotherapies.
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