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Dec 31, 2022
Sana Q4 2022 Earnings Report
Sana Biotechnology reported financial results and business highlights.
Key Takeaways
Sana Biotechnology reported a Q4 2022 cash position of $434.0 million, with a runway into 2025. The company's first IND for SC291 was cleared, with initial clinical data expected this year. They also anticipate initial clinical data with hypoimmune islet cells in type 1 diabetic patients in 2023 and plan to file two INDs this year for SC262 and SG299.
SC291 IND was cleared, with initial clinical data expected later this year.
An investigator-sponsored trial using primary human hypoimmune-modified islet cells is expected to begin, with initial clinical data anticipated this year.
The company aims to submit two INDs this year for SC262 and SG299.
Sana anticipates multiple additional INDs in 2024.
Sana
Sana
Forward Guidance
Sana Biotechnology expects cash runway into 2025 enabling multiple data readouts across the platforms based on current timelines for lead programs. Sana announced decision to move Sana’s manufacturing plant from Fremont, CA to Bothell, WA, resulting in approximately $100 million in expected cost savings compared to the initial build-out plan.
Positive Outlook
- Cash runway into 2025 enabling multiple data readouts across the platforms based on current timelines for lead programs.
- Moving manufacturing plant from Fremont, CA to Bothell, WA, resulting in approximately $100 million in expected cost savings compared to the initial build-out plan.
- Facility will be designed to support the late-stage clinical and early commercial manufacturing of multiple product candidates across the portfolio.
- Portfolio prioritization and corporate restructuring designed to optimize the development of programs at or nearing clinical development
- Portfolio prioritization and corporate restructuring designed to continue investments in the core research platforms and innovation, and maintain a strong balance sheet.