Senti Biosciences Stock Soars 200% on Positive Trial Results

On Monday, Senti Biosciences, Inc. (NASDAQ:SNTI) shares surged 200% following the announcement of positive initial clinical data from its Phase 1 trial of SENTI-202, a research-stage cell therapy for relapsed/resistant hematological malignancies. The company's market capitalization was below $10 million at last Friday's close.

The South San Francisco, California-based clinical-stage biotechnology company reported that two of three acute myeloid leukemia (AML) patients treated with SENTI-202 at the lowest dose level achieved complete remission (CR) without measurable residual disease (MRD) being detected. This encouraging result was observed after the administration of 1.0 billion CAR+ NK cells per dose, and the treatment demonstrated an overall well-tolerated safety profile.

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

Senti Biosciences also announced a private investment in public equity (PIPE) financing agreement, in which it plans to issue and sell approximately 16,713 shares of Series A Convertible Preferred Stock, anticipating gross proceeds of about $37.6 million. This financing is expected to close on or before December 5, 2024, subject to customary conditions. Additionally, the company provided an option for the subsequent purchase of additional Preferred Stock and accompanying warrants until December 27, 2024, which could potentially bring in an extra $10.0 million in gross proceeds.