Loading...
•
Dec 31, 2025
Sana Q4 2025 Earnings Report
Sana reported fourth quarter 2025 results with reduced operating expenses and a net loss of $58.8 million, while ending the quarter with $138.4 million in cash, cash equivalents, and marketable securities.
Key Takeaways
Sana’s Q4 2025 net loss widened year over year due to fair value adjustments, while research and development and general and administrative expenses declined following portfolio prioritization efforts.
Net loss was 58825000 compared to 49069000 in the prior year period.
Research and development expenses declined to 34924000 from 45145000 year over year.
General and administrative expenses decreased to 12186000 from 17277000.
Cash, cash equivalents, and marketable securities totaled 138382000 at quarter end.
Forward Guidance
Sana expects its existing cash, cash equivalents, and marketable securities to provide runway into late 2026 while advancing SC451 and SG293 toward clinical milestones.
Positive Outlook
- Expected cash runway into late 2026.
- Plans to file IND for SC451 and begin Phase 1 trial as early as this year.
- Expect to generate first-in-human data for SG293 as early as this year.
- Progress across manufacturing, regulatory, and clinical preparedness for SC451.
- Raised 133700000 in gross proceeds during 2025 to support operations.
Challenges Ahead
- Continued significant net losses.
- Ongoing cash burn to fund operations.
- Fair value fluctuations in contingent consideration impacting results.
- Reliance on future clinical and regulatory milestones.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...