Surface drops after deprioritizing lead product

Surface Oncology Inc. (NASDAQ:SURF) was off $3.52 (48%) to $3.89 on Dec. 19 after the company said late Dec. 18 it will deprioritize Phase I candidate SRF231, one of its two clinical programs.

The immunotherapy company said the decision to reduce the scope of its SRF231 program was driven in part by initial data from a Phase I trial to treat cancer in which there were two hematologic dose-limiting toxicities (DLTs) reported at a lower-than-expected dose of the human mAb against CD47. Surface expects to present additional data from the trial in 2H19...