Sensei Biotherapeutics, Inc. (NASDAQ:SNSE) surged on Wednesday following the company’s announcement of its acquisition of Faeth Therapeutics Inc. and a concurrent $200 million private investment.

The acquisition of Faeth Therapeutics brings its lead asset, PIKTOR, in development across solid tumor settings, into Sensei’s pipeline, which is an investigational all-oral combination targeting the PI3K/AKT/mTOR pathway.

Private Placement

Concurrently, the company has secured a definitive agreement for a private placement financing expected to yield approximately $200 million, aimed at advancing PIKTOR through key clinical milestones, including a Phase 2 trial in advanced endometrial cancer.

Sensei expects to use the proceeds primarily to advance PIKTOR, as well as the initiation of a Phase 1b trial in HR+/HER2- advanced breast cancer, both expected by year-end 2026, with remaining proceeds for general corporate purposes and completion ...