BUZZ-Senti Bio soars after cancer therapy shows promise in early-stage trial
** 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;))
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