Surface Oncology reports Q4 EPS (35c), consensus (33c)

Reports Q4 revenue $0, consensus $2.5M. "Our teams have done an outstanding job advancing SRF388 and SRF114, and we are pleased with the progress of both clinical programs," said Rob Ross, M.D., chief executive officer of Surface. "We believe SRF388 is the first and only anti-IL-27 antibody in clinical development and, based on the encouraging preclinical and clinical data we have generated to date, it holds the potential to become a first-in-class treatment for patients suffering from multiple life-threatening solid tumors. We look forward to sharing additional SRF388 data from our ongoing trials in the first half of 2023. As for SRF114, CCR8 is a very compelling immuno-oncology target. While several leading pharmaceutical and biotech companies have initiated programs in this space, we believe SRF114 is differentiated from many of them based on its high specificity to human CCR8, leading to a potential best-in-class antibody. We expect to have initial safety and efficacy data in 2024."