SURF - Surface Oncology stock rises with first patient dosed in GSK4381562 Phase 1 study

Surface Oncology (NASDAQ:SURF) shares have climbed ~7% pre-market after the immuno-oncology firm achieved the $30M milestone payment with the first patient dosed by GlaxoSmithKline (NYSE:GSK) in the Phase 1 study of GSK4381562 in patients with solid tumors. In late 2020, Surface signed a licensing agreement with GSK for worldwide development and commercial rights to its preclinical program SRF813 (now known as GSK4381562). GSK4381562 is a fully human IgG1 antibody targeting PVRIG, an inhibitory protein expressed on natural killer cells (NK cells) and T cells. As a result of this Phase 1 initiation, Surface will receive a $30M milestone payment and is eligible to receive an additional $700M in potential future milestone payments, as well as tiered royalties on global net sales.

For further details see:

Surface Oncology stock rises with first patient dosed in GSK4381562 Phase 1 study