Cathie Wood from ARKG owns 10% and keeps adding shares. of the SURF float Eli Lily holds 8.5% through LLV ventures fund. 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 late Pre 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!! Can’t wait for phase 1 data.
Surf recap:Partnership with Novartis worth $525M (For SRF373)Partnership with GSK GlaxoSmithKline worth $730M (For SRF813) Total = 1.15B just for licence worldwide rights.
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.
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