Senti Bio soars after cancer therapy shows promise in early-stage trial

Senti Biosciences Holdings

02/12/2024 13:38

** Shares of Senti Biosciences  SNTI.O  more than double to
$5.23; last up 139.5%
    ** Co says its cell therapy for cancer that has either come
back or stop responding to treatment caused a complete remission
in 2 of 3 patients in an early-stage trial 
    ** Complete remission is the disappearance of all signs of
cancer in response to treatment
    ** SNTI says additional safety and efficacy data, including
initial durability data on the therapy SENTI-202, are expected
to follow in 2025
    ** Co says it has also entered into a securities purchase
agreement with some investors to issue and sell about 16,713
Series A preferred stock through a private investment in public
equity or PIPE financing 
    ** SNTI expects gross proceeds from financing to be about
$37.6 mln, plans to use them along with existing cash towards
SENTI-202 development and manufacturing, other R&D activities,
and for general corporate purposes
    ** Up to last close, stock down 67.3% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))