Prompted by a potential safety signal in a Phase 1 trial and a crowded field in CD47 inhibitors, Surface Oncology (NASDAQ:SURF) will significantly reduce its investment in candidate SRF231 while it identifies a better dosing regimen. It plans to release additional data in H2 2019.
The company will now deploy resources to advance two preclinical programs, SRF617 and SRF388, into the clinic. It expects to file an IND for the latter by late 2019. The Phase 1 study of NZV930, in collaboration with Novartis, will continue. Its CD39 and IL-27 programs will remain priorities as well.
The changes should extend its cash runway through 2021.
Shares are down 16% after hours.
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