Tuesday, February 16, 2021 9:05:46 AM
Surface Oncology hires bankers to explore sale - StreetInsider
The company received a takeover approach from GlaxoSmithKline (GSK)
and has hired an investment bank, StreetInsider reports.
Surface Oncology wants bankers to look for any other possible M&A interest beyond GSK, StreetInsider says.
https://www.streetinsider.com/Hot+M+and+A/Surface+Oncology+%28SURF%29+Explores+Potential+Sale+After+GSK+Takeover+Approach+-+Source/17458243.html
FDA Fast tracks SRF388 (Surface Oncology), a fully human anti-interleukin-27 antibody, for treatment of patients with hepatocellular carcinoma
Cathie Wood from ARKG owns 10% and keeps adding shares. of the SURF float Eli Lily holds 8.5% through LLV ventures fund. Novartis just disclosed a roughly 10% stake after hours via Form SC 13G. institutions own 67% of the 40 million shares outstanding
Cash runway through 2023 ($102.5M in cash as of Sept 30th; received $85Million from GSK GlaxoSmithKline in December.
Two strategic partnerships (Novartis & GSK GlaxoSmithKline) validate strong IO drug discovery capabilities.
GSK GlaxoSmithKline Partnership SRF813
cumulative milestones up to $730 million
• Tiered royalties on annual net sales
(high single-digit to mid-teens %
Novartis Partnership: NZV930
• Upfront payment of $70M, total
cumulative milestones up to $525 million
• Tiered royalties on annual net sales
(high single-digit to mid-teens %)
Detailed clinical update for both SRF617 & SRF388 to be presented in the first half of 2021.
SRF388 is the ONLY anti IL-27 targeted agent in clinical development. Shows antimetastatic tumour activity and increased the production of key inflammatory cytokines.
SRF388 is a blockbuster in the making, the Il-27 targeting antibody. There is compelling evidence clinically to understand IL-27s role in tumour types. This is the next one that will get huge partnership deal!!
Total = $1.2B Billion just for licence worldwide rights with Novartis & GSK plus double digit tiered royalties.
Surface Oncology Announces FDA Fast Track Designation Granted by U.S. Food and Drug Administration for SRF388 to Treat Liver Cancer.
https://investors.surfaceoncology.com/news-releases/news-release-details/surface-oncology-announces-fda-fast-track-designation-granted-us
SURF has 4 other VERY promising targets. SRF617,SRF388, SRF114,SRF231 More partnership deals to come.
undervalued and the chart is bullish 1 year is amazing building & looking for continuation to the upside.
SURF Chart cup and handle on the weekly!!
https://stockcharts.com/h-sc/ui?s=SURF
Outstanding team of experienced company builders & oncology drug developers.
In the "Lightning Round" segment of Mad Money Friday night, Jim Cramer was bullish on Surface Oncology (SURF) , an immuno-onocolgy company developing next-generation antibody therapies.
https://realmoney.thestreet.com/investing/surface-oncology-is-set-for-further-gains-how-to-buy-it-15542979
SURF Feb 2021 Biz presentation:
https://investors.surfaceoncology.com/static-files/9a6d888d-dae2-419d-a0fc-c96058f9aa7c
Surf Website:
https://www.surfaceoncology.com/
Surf Pipeline & Programs:
https://www.surfaceoncology.com/pipeline-programs/
$SURF
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