Sensei Biotherapeutics, Inc. (SNSE) jumped more than 150% after the company announced the acquisition of Faeth Therapeutics alongside a $200 million concurrent private placement designed to advance its oncology pipeline.
The deal brings Faeth's lead asset, PIKTOR- an investigational all-oral, multi-node inhibitor of the PI3K/AKT/mTOR pathway- into Sensei's portfolio, expanding its development focus across endometrial and breast cancer.
PIKTOR, a proprietary combination of Serabelisib and Sapanisertib, is being evaluated in solid tumor settings and has shown encouraging activity in a completed Phase 1b trial, including multiple complete responses in heavily pretreated endometrial cancer patients.
Sensei said the acquisition and financing position the combined company to progress PIKTOR through key clinical milestones, including topline Phase 2 data in second-line advanced endometrial cancer and the initiation of a Phase 1b study in HR+/HER2-advanced breast cancer by year-end 2026.
As part of the transaction, Sensei also completed a private placement of Series B non-voting convertible preferred stock, expected to generate approximately $200 million in gross proceeds. The financing included participation from multiple leading life sciences investors.
Sensei plans to use the funds to advance PIKTOR, support general corporate purposes, and complete its ongoing Phase 1/2 trial of Solnerstotug, its VISTA inhibitor for advanced solid tumors.
The acquisition was approved by the boards of both companies and did not require a shareholder vote from Sensei. Following the transactions, former Faeth equityholders and new investors from the private placement will collectively hold the majority of Sensei's common stock on an as-converted basis.
SENSE has traded between $5.00 and $31.94 over the past year. The stock is currently trading at $23.47 up 157.06%.
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