An investigation on behalf of investors of Surface Oncology, Inc. (NASDAQ: SURF) shares over potential securities laws violations by Surface Oncology, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Surface Oncology, Inc. (NASDAQ: SURF) concerning whether a series of statements by Surface Oncology, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cambridge, MA based Surface Oncology, Inc., a clinical-stage immuno-oncology company, engages in the development of cancer therapies. Surface Oncology, Inc completed its initial public offering (IPO) on April 23, 2018, offering shares at $15.00. Surface Oncology, Inc. reported that its annual Total Revenue rose from $12.82 million in 2017 to $59.41 million in 2018 and that its Net Loss declined from $445.37 million in 2017 to $6.59 million in 2018.

Shares of Surface Oncology, Inc. (NASDAQ: SURF) declined from $17.22 per share on July 2, 2018 to as low as $1.95 per share on August 7, 2019.