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Sep 30, 2023
Sana Q3 2023 Earnings Report
Sana reported financial results and business highlights.
Key Takeaways
Sana Biotechnology reported a net income of $1.0 million for Q3 2023, with a cash position of $268.6 million expected to last into 2025. The company is focused on developing its hypoimmune technology and anticipates data from multiple clinical settings in 2023 and 2024.
Enrollment continues in the ARDENT Phase 1 study, with initial clinical data expected in 2023 and more robust data in 2024.
A CTA was submitted for an investigator-sponsored trial evaluating HIP-modified primary islet cells in patients with type 1 diabetes, with initial proof of concept data expected in 2023 and 2024.
An IND was submitted for SC291 for the treatment of multiple B-cell-mediated autoimmune diseases, with preliminary clinical data expected in 2024.
The IND is on track for submission in 4Q 2023 for SC262 for the treatment of B-cell lymphomas and leukemias in patients who have failed CD19-directed CAR T therapies, with preliminary clinical data expected in 2024.
Sana
Sana
Forward Guidance
Sana Biotechnology expects 2024 operating cash burn to be below $200 million, enabling multiple clinical data readouts with its current balance sheet and a cash runway into 2025.
Positive Outlook
- Initial clinical data from the ARDENT Phase 1 study expected in 2023, with more robust data expected in 2024.
- Initial HIP proof of concept data from the IST evaluating HIP-modified primary islet cells in patients with type 1 diabetes expected in 2023 and 2024.
- Preliminary clinical data from SC291 for the treatment of multiple B-cell-mediated autoimmune diseases expected in 2024.
- Preliminary clinical data from SC262 for the treatment of B-cell lymphomas and leukemias expected in 2024.
- Cash position of $268.6 million expected to last into 2025, supporting activities through multiple data readouts.