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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 that CEO Jeff Goater and CMO Robert Ross will participate in the H.C. Wainwright Global Healthcare Conference on September 14-15, 2020. They will discuss the company's lead programs, SRF617 (targeting CD39) and SRF388 (targeting IL-27), along with their emerging pre-clinical pipeline, including SRF813 (targeting CD112R, aka PVRIG). Surface is focused on developing next-generation immunotherapies that target the tumor microenvironment, aiming to achieve sustained anti-tumor responses.
Surface Oncology (Nasdaq: SURF) announced a presentation at the Robert W. Baird Global Healthcare Conference on September 10, 2020. CEO Jeff Goater and CMO Robert Ross will discuss their lead immunotherapy programs, SRF617, targeting CD39, and SRF388, targeting IL-27, along with the preclinical pipeline, including SRF813, which targets CD112R (PVRIG).
The fireside chat is set for 1:25 pm EDT and will highlight Surface's innovative approach to cancer treatment via next-generation immunotherapies aimed at the tumor microenvironment.
Surface Oncology (Nasdaq: SURF) reported strong advancements in its clinical pipeline during Q2 2020, including the initiation of a Phase 1 trial for SRF388 and a collaboration with Merck to study SRF617 with KEYTRUDA. The company raised approximately $39 million through funding sources and maintained cash reserves of $112.5 million. R&D expenses decreased to $9.5 million, while G&A expenses dropped to $5.0 million, reflecting cost management efforts. The net loss for the quarter was $14.8 million, an improvement from $17.8 million in Q2 2019. Surface projects sufficient resources to operate into 2022.
Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company, announced that CEO Jeff Goater will present at the Wedbush PacGrow Healthcare Virtual Conference on August 11, 2020, at 10:55 a.m. EDT. The presentation will cover Surface's lead programs, SRF617 targeting CD39, and SRF388 targeting IL-27, along with the emerging preclinical pipeline including SRF813 targeting CD112R (PVRIG). Live audio and archived webcasts will be available on the company's investor relations website.
Surface is focused on developing next-generation immunotherapies aimed at achieving sustained anti-tumor responses.
Surface Oncology (NASDAQ: SURF) has announced that its 2020 Annual Meeting of Stockholders will be held virtually due to ongoing COVID-19 concerns. The meeting is scheduled for June 10, 2020, at 11:00 a.m. EDT. Only stockholders who were on record as of April 15, 2020, can participate. Registration is required before June 8, 2020, to access the virtual meeting. All stockholders are encouraged to submit their votes in advance or vote online during the meeting. This decision prioritizes health and safety amidst the pandemic.
Surface Oncology (Nasdaq: SURF) has successfully raised approximately $28.9 million through its At-the-Market facility, selling around 10.9 million shares at $2.66 each. The capital will enhance Surface's balance sheet, supporting the clinical development of its key projects: SRF617 (targeting CD39), SRF388 (targeting IL-27), and SRF813 (targeting CD112R). This transaction exhausts the balance on the previous $30 million ATM facility, with JonesTrading acting as the sales agent.
Surface Oncology (Nasdaq: SURF) announced a clinical trial collaboration with Merck (NYSE: MRK) to evaluate the safety and efficacy of its investigational antibody therapy, SRF617, in combination with Merck's KEYTRUDA® in solid tumors, particularly gastric cancer. The Phase 1/1b study aims to address high unmet needs, specifically in patients resistant to checkpoint inhibition. Preclinical studies suggest SRF617 may enhance the immune response when paired with KEYTRUDA®. This collaboration aims to accelerate SRF617's clinical development, with positive implications for cancer treatment.
Surface Oncology (Nasdaq: SURF) announced updated preclinical data at the AACR 2020 Annual Meeting. The presentations focus on two lead antibody therapies: SRF617 (CD39 target) and SRF388 (IL-27 target), highlighting their effectiveness in enhancing chemotherapy and immunotherapy. Additional data on SRF813 (CD112R) and SRF231 (CD47) show significant preclinical anti-tumor activity and potential in combination treatments. Full posters will be available on Surface Oncology’s website following the event.
Surface Oncology (Nasdaq: SURF) announced that data from the Phase 1 study of SRF231, a high-affinity anti-CD47 antibody, will be presented at the ASCO 2020 Annual Meeting, occurring virtually from May 29-31. The presentation type is an e-poster with the abstract number 3064. The lead author is Amita Patnaik, and the session will focus on Developmental Therapeutics - Immunotherapy. Although the SRF231 clinical program was deprioritized in 2018, the Phase 1 study is now concluding. For full details, the poster will be available on Surface Oncology’s website after the presentation.
Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company, announced that CEO Jeff Goater will present at the UBS Virtual Global Healthcare Conference on May 20, 2020, at 10 a.m. EDT. The presentation will cover Surface's lead programs, SRF617 targeting CD39 and SRF388 targeting IL-27. Live audio and archived webcasts will be available on the company's investor relations website. Surface Oncology focuses on developing next-generation immunotherapies aimed at achieving sustained anti-tumor responses through innovative antibody therapies.
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