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Dec 31, 2020
Sana Q4 2020 Earnings Report
Sana Biotechnology reported financial results for the fourth quarter and year ended December 31, 2020.
Key Takeaways
Sana Biotechnology reported a net loss of $113.2 million for the quarter ended December 31, 2020. The company's cash, cash equivalents, and marketable securities totaled $412.0 million as of December 31, 2020. Research and development expenses for the quarter were $104.1 million.
Cash, cash equivalents, and marketable securities totaled $412.0 million as of December 31, 2020.
Research and development expenses for the quarter were $104.1 million.
Net loss for the quarter was $113.2 million, or $7.40 per share.
General and administrative expenses for the quarter were $9.2 million.
Sana
Sana
Forward Guidance
This press release contains forward-looking statements about Sana Biotechnology, Inc. (the “Company,” “we,” “us,” or “our”) within the meaning of the federal securities laws, including those related to the Company’s vision, progress, and business plans; expectations for its development programs, product candidates and technology platforms, including its pre-clinical and clinical and regulatory development plans and timing expectations; updates at scientific conferences; and the potential use of intellectual property and technology licensed or acquired from Washington University, Oscine Corp., and FCDI.
Positive Outlook
- The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs.
- Sana Biotechnology is focused on creating and delivering engineered cells as medicines for patients.
- Sana Biotechnology share a vision of repairing and controlling genes, replacing missing or damaged cells, and making our therapies broadly available to patients.
- Sana Biotechnology are more than 250 people working together to create an enduring company that changes how the world treats disease.
- Sana Biotechnology has operations in Seattle, Cambridge, and South San Francisco.
Challenges Ahead
- In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events.
- These statements are subject to risks and uncertainties that could cause the actual results to vary materially, including, among others, the risks inherent in drug development such as those associated with the initiation, cost, timing, progress and results of the Company’s current and future research and development programs, preclinical and clinical trials, as well as the economic, market and social disruptions due to the ongoing COVID-19 public health crisis.
- For a detailed discussion of the risk factors that could affect the Company’s actual results, please refer to the risk factors identified in the Company’s SEC reports, including but not limited to its prospectus dated February 3, 2021.
- Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason.
- The Company’s actual results could vary materially.