Shares of nano-cap company Senti Biosciences, Inc. (SNTI) surged over 85% on Monday morning after the California Institute for Regenerative Medicines (CIRM) awarded an $8 million grant to the company.
SNTI is currently trading at $0.5148, up $0.2388 or 85.9611%, on the Nasdaq. The stock opened its trading at $0.3575 after closing Friday at $0.2760. The stock has traded between $0.2110 and $1.0900 in the past 52-week period.
The CIRM grant will support the ongoing clinical development of SENTI-202, a potential first-in-class Logic Gated off-the-shelf chimeric antigen receptor natural killer investigational cell therapy, for the treatment of relapsed/refractory hematologic malignancies including acute myeloid leukemia.
The Phase 1 clinical trial of SENTI-202 is ongoing, with initial efficacy data anticipated by year-end 2024 and initial durability data following in 2025.
"On behalf of the Senti Bio team, I'd like to express our sincere gratitude to CIRM for its support of our Phase 1 trial of SENTI-202 and for recognizing SENTI-202's potential to improve the lives of people living with AML," said Timothy Lu, M.D., Ph.D., Chief Executive Officer and Co-Founder of Senti Bio. "We are proud of the clinical development progress to date as the Phase 1 trial continues to enroll and will remain steadfast in our mission to provide potentially lifesaving treatments for people living with cancer."
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