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Mar 31, 2024
Sana Q1 2024 Earnings Report
Sana Biotechnology reported financial results for the first quarter of 2024 and provided business updates.
Key Takeaways
Sana Biotechnology reported a net loss of $107.5 million for Q1 2024. The company completed a financing round of $189.8 million and has a cash position of $311.1 million. They are advancing four clinical programs and expect to share initial data from these studies in 2024.
Advancing four clinical programs across seven indications.
Completed financing of $189.8 million in gross proceeds.
Cash position of $311.1 million as of March 31, 2024.
Expect initial clinical data in 1H2024 for investigator-sponsored trial with hypoimmune-modified primary islet cells.
Sana
Sana
Forward Guidance
Sana Biotechnology aims to treat 40-60 patients in 2024 across four trials and seven indications, with multiple data readouts expected.
Positive Outlook
- Goal to treat 40-60 patients in 2024 in four trials across seven indications.
- Expect to report additional data in 2024 from the ARDENT trial for SC291 in B-cell malignancies.
- Expect to report initial clinical data in 2024 from the GLEAM trial for SC291 in B-cell mediated autoimmune diseases.
- Expect to report initial clinical data in 2024 from the VIVID trial for SC262 in relapsed/refractory B-cell malignancies.
- Expect initial clinical data in 1H2024 for investigator-sponsored trial with hypoimmune-modified primary islet cells.
Challenges Ahead
- Risks inherent in drug development, including initiation, cost, timing, progress, and results of research and development programs.
- Economic, market, and social disruptions could affect actual results.
- Uncertainties related to preclinical and clinical trials.
- Reliance on current expectations, estimates, forecasts and projections about future events and financial trends.
- Potential variability in actual results due to inherent uncertainties in forward-looking statements.