Shares of Sensei Biotherapeutics, Inc. (SNSE) surged sharply on Wednesday morning after the company announced the acquisition of Faeth Therapeutics alongside a $200 million private placement to fund pipeline development.
The stock is currently trading at $23.47, up $14.34 or 157.06%, on the Nasdaq. The stock opened at $27.91 after closing Tuesday at $9.13. The stock has traded between $5.00 and $31.94 in the past 52-week period.
Sensei said it will acquire Faeth Therapeutics, adding lead asset PIKTOR, an investigational oral therapy targeting the PI3K/AKT/mTOR pathway for solid tumors, including endometrial and breast cancer. The deal positions the combined company to advance multiple clinical milestones through 2026.
Further, the company said it secured $200 million in proceeds through a private placement backed by several major life sciences investors. The funding is expected to support Phase 2 and Phase 1b trials and general corporate purposes.
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