Senti Biosciences stock soars 200% on positive trial data

© Reuters.

On Monday, shares of Senti Biosciences, Inc. (NASDAQ:SNTI) surged by 200% following the release of encouraging initial clinical data from its Phase 1 trial of SENTI-202, an investigational cell therapy for relapsed/refractory hematologic malignancies, including acute myeloid leukemia (AML). The company's market capitalization was under $10 million as of the previous Friday's close.

The clinical-stage biotechnology company, based in South San Francisco, California, reported that two out of three AML patients treated with SENTI-202 at the lowest dose level achieved complete remission (CR) with no measurable residual disease (MRD) detected. This promising result was observed after administering 1.0 billion CAR+ NK cells per dose, with the treatment maintaining a generally well-tolerated safety profile.

The trial's early and deep responses are seen as a positive indicator, particularly since relapsed/refractory AML is a rapidly progressing disease with limited treatment options after the failure of first-line therapies. The company has cleared the lowest dose cohort and is continuing dose escalation, with additional response and durability data expected in 2025.

Senti Biosciences also announced a private investment in public equity (PIPE) financing agreement, through which it will issue and sell approximately 16,713 shares of Series A Convertible Preferred Stock, expecting to generate gross proceeds of about $37.6 million. This financing is set to close on or before December 5, 2024, subject to customary conditions. Moreover, the company has granted an option for a subsequent purchase of additional Preferred Stock and accompanying warrants, potentially bringing in another $10.0 million in gross proceeds by December 27, 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.