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Dec 31, 2023
Sana Q4 2023 Earnings Report
Sana reported financial results and business highlights, advancing clinical programs and achieving IND clearance for autoimmune diseases and B-cell malignancies.
Key Takeaways
Sana Biotechnology reported a net loss of $88.1 million for Q4 2023, with cash, cash equivalents, and marketable securities totaling $205.2 million. The company is advancing four clinical programs and expects to treat 40-60 patients across multiple indications in 2024.
Advanced four clinical programs across seven indications, including allogeneic CAR T programs and a primary islet cell therapy.
SC291 IND cleared for B-cell mediated autoimmune diseases, with initial clinical data expected in 2024.
SC262 IND cleared for relapsed/refractory B-cell malignancies, with initial clinical data expected in 2024.
CTA authorized for investigator-sponsored trial with hypoimmune-modified primary islet cells; potential clinical data in 1H2024.
Sana
Sana
Forward Guidance
Sana anticipates treating 40-60 patients in 2024 across multiple trials and indications, aiming to demonstrate successful allogeneic cell transplantation without immune detection or rejection.
Positive Outlook
- Goal to treat 40-60 patients in 2024 in four trials across seven indications.
- Early SC291 data suggests ability to dose safely, demonstrate desired immune evasion profile, and early clinical efficacy.
- SC291 IND clearance for B-cell mediated autoimmune diseases with goal to report initial clinical data in 2024.
- SC262 IND clearance for relapsed/refractory B-cell malignancies with goal to report initial clinical data in 2024.
- Recent financing supports activities through multiple data readouts.
Challenges Ahead
- Focusing investment on ex vivo platform and reducing investment in fusogen in vivo delivery platform.
- Decrease in cash position due to operating cash burn and purchase of property and equipment.
- Net loss for the quarter was $88.1 million.
- Research and development expenses include non-cash stock-based compensation.
- The value of potential liabilities may fluctuate significantly with changes in Sana’s market capitalization and stock price.