Live Chat on The Biotech Forum has been dominated by discussion of lucrative buy-write or covered call opportunities on selected biotech stocks over the past several months. To see what I and the other season biotech investors are targeting as trading ideas real-time, just join our community at The Biotech Forum by clicking HERE .We are putting Sana Biotechnology, Inc. (NASDAQ: SANA ) in the spotlight for the first time since mid-March of this year. We concluded that the article stated the stock had rallied ...

The price trend for Sana Biotechnology (SANA) has been bearish lately and the stock has lost 16.2% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street a ...

A downtrend has been apparent in Sana Biotechnology (SANA) lately with too much selling pressure. The stock has declined 24.7% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicato ...

Financial Performance - Research and development expenses for the three months ended September 30, 2024, were $53.2 million, a decrease from $65.6 million in the same period in 2023[8] - Total operating expenses for the three months ended September 30, 2024, were $61.8 million, compared to $2.2 million in the same period in 2023[8] - Net loss for the three months ended September 30, 2024, was $59.9 million, compared to a net income of $984,000 in the same period in 2023[8] - Net loss per common share (basic and diluted) for the three months ended September 30, 2024, was $0.25, compared to $0.00 in the same period in 2023[8] - Net loss for the nine months ended September 30, 2024, was $217.7 million, compared to $195.1 million for the same period in 2023[16] - Net loss attributable to common stockholders for the three months ended September 30, 2024 was $59.9 million, compared to a net income of $984 thousand in the same period last year[73] - Basic and diluted loss per common share for the three months ended September 30, 2024 was $0.25, compared to $0.00 in the same period last year[73] - Net loss attributable to common stockholders for the nine months ended September 30, 2024 was $217.7 million, compared to $195.1 million in the same period last year[73] - Basic and diluted loss per common share for the nine months ended September 30, 2024 was $0.95, compared to $1.01 in the same period last year[73] Cash and Marketable Securities - Cash, cash equivalents, and restricted cash decreased by $6.5 million to $130.8 million as of September 30, 2024[16] - As of September 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $199.0 million[22] - The company's cash equivalents totaled $103.1 million, and short-term marketable securities were valued at $72.0 million as of September 30, 2024[41] - The company had cash, cash equivalents, and restricted cash of $130.8 million and marketable securities of $72.0 million as of September 30, 2024[146] - Total cash equivalents as of December 31, 2023 were $104,468 thousand, with gross unrealized holding gains of $3 thousand, resulting in an estimated fair value of $104,471 thousand[43] - Total short-term marketable securities as of December 31, 2023 were $71,741 thousand, with gross unrealized holding gains of $16 thousand and losses of $79 thousand, resulting in an estimated fair value of $71,678 thousand[43] Stockholders' Equity and Accumulated Deficit - Total stockholders' equity as of September 30, 2024, was $292.5 million, a decrease from $287.5 million as of December 31, 2023[11] - Accumulated deficit as of September 30, 2024, was $1.56 billion, an increase from $1.34 billion as of December 31, 2023[11] - Accumulated deficit as of September 30, 2024, was $1.6 billion, including non-cash charges related to success payment liabilities and contingent consideration[22] Stock-Based Compensation and Equity - Stock-based compensation expense for the nine months ended September 30, 2024, was $31.2 million[16] - Stock-based compensation expense for the three months ended September 30, 2024, was $10.770 million, with $6.481 million allocated to research and development and $4.289 million to general and administrative expenses[64] - The fair value of RSUs that vested during the nine months ended September 30, 2024, was $5.0 million[69] - The company had 28,483 stock options outstanding as of September 30, 2024, with a weighted-average exercise price of $7.26 per share and a weighted-average remaining contractual life of 7.8 years[66] Contingent Consideration and Success Payments - The Company may pay up to $500.0 million in contingent consideration and $500.0 million in success payments to former Cobalt stockholders, contingent on development milestones and market capitalization thresholds[32] - As of September 30, 2024, the estimated fair value of the Cobalt Success Payment liability was $13.5 million, and the Cobalt Contingent Consideration was $111.9 million[33][34] - The Company paid $12.0 million to Harvard College in March 2019 and may pay up to $175.0 million in success payments based on stock value increases[36][37] - As of September 30, 2024, the estimated fair value of the Harvard Success Payment liability was $1.6 million[39] - The estimated aggregate fair value of the success payment liabilities was $15.1 million as of September 30, 2024[148] - The fair value of the Cobalt Contingent Consideration as of September 30, 2024 was calculated using a discount rate range of 10.7% to 11.7% (weighted average of 11.3%) and a probability of milestone achievement range of 5.0% to 55.0% (weighted average of 25.7%)[48] - The fair value of the Cobalt Success Payments and Harvard Success Payments as of September 30, 2024 was calculated using expected stock price volatility of 75.0% and expected terms of 14.4 years and 6.5 years, respectively[50] Acquisitions and Licensing Agreements - The Company acquired Cobalt Biomedicine, Inc. in February 2019, recording an intangible asset of $59.2 million and goodwill of $140.6 million[29][30][31] - The Company entered into a license agreement with Beam Therapeutics in October 2021, paying $50.0 million upfront and potentially up to $65.0 million in milestone payments[35] Leases and Property - The company leased 79,565 square feet of office, laboratory, and manufacturing space in Bothell, Washington, with a base rent obligation of approximately $68.8 million over the initial term expiring in February 2039[55] - The company derecognized $6.4 million in right-of-use assets and $6.2 million in lease liabilities related to vivarium spaces in Cambridge, Massachusetts, and South San Francisco, California[56] - Total lease costs for the three months ended September 30, 2024, were $8.031 million, including $4.728 million in operating lease costs and $2.195 million in variable lease costs[58] - The present value of the company's operating lease liabilities as of September 30, 2024, was $96.084 million, with a weighted-average remaining lease term of 9.7 years and a weighted-average incremental borrowing rate of 11.4%[59] - Total property and equipment, net as of September 30, 2024 was $82,826 thousand, an increase from $70,689 thousand as of December 31, 2023, primarily due to construction in progress increasing from $26,332 thousand to $40,229 thousand[52] Workforce Reduction and Strategic Repositioning - The company announced a strategic repositioning in November 2024, resulting in a workforce reduction of approximately 45% and expected cash-based expenses of $6.4 million related to employee severance and benefits[76] Financial Assets and Liabilities - The Company's total financial assets were valued at $175.1 million, and total financial liabilities were $127.0 million as of September 30, 2024[41] - Total financial assets as of December 31, 2023 amounted to $176,568 thousand, with gross unrealized holding gains of $19 thousand and losses of $79 thousand, resulting in an estimated fair value of $176,508 thousand[43] - Total long-term financial liabilities as of December 31, 2023 were $122,405 thousand, primarily consisting of contingent consideration of $109,606 thousand and success payment liabilities of $12,799 thousand[43] Marketable Securities Transactions - Purchases of marketable securities for the nine months ended September 30, 2024, totaled $213.0 million[16] - Proceeds from maturities of marketable securities for the nine months ended September 30, 2024, were $216.3 million[16] Public Offerings and ATM Facility - The company completed a public offering in February 2024, raising net proceeds of approximately $180.0 million[20] - The company completed a public offering in February 2024, selling 21.8 million shares of common stock and pre-funded warrants for net proceeds of approximately $180.0 million[61] - As of September 30, 2024, the company had sold 4.9 million shares under its ATM facility for net proceeds of $28.6 million[62] Tax and Valuation Allowance - The company recorded a full valuation allowance against its net deferred tax assets due to uncertainty surrounding the realization of favorable tax attributes in future tax returns[70] Foreign Currency Sensitivity - The company does not believe it will experience material impacts from foreign currency sensitivity, despite contracting with vendors located outside the United States[150] Hypothetical Market Scenarios - A hypothetical 20% increase in market capitalization from $0.9 billion to $1.1 billion would have decreased the gain recorded in the three months ended September 30, 2024 by $3.4 million to $1.5 million[149] - A hypothetical 20% decrease in the common stock price from $4.16 per share to $3.33 per share would have increased the gain recorded in the three months ended September 30, 2024 by $0.5 million to $1.3 million[149] Comprehensive Loss - Total comprehensive loss for the three months ended September 30, 2024, was $59.9 million, compared to a comprehensive income of $1.6 million in the same period in 2023[10] Weighted-Average Shares - Weighted-average number of common shares (basic) for the three months ended September 30, 2024, was 235.4 million, an increase from 197.0 million in the same period in 2023[8] Accrued Expenses and Liabilities - Total accrued compensation as of September 30, 2024 was $18,050 thousand, a decrease from $23,722 thousand as of December 31, 2023, primarily due to a decrease in accrued bonuses from $14,379 thousand to $8,813 thousand[53] - Total accrued expenses and other current liabilities as of September 30, 2024 were $15,362 thousand, a decrease from $23,462 thousand as of December 31, 2023, primarily due to a decrease in accrued property and equipment from $9,200 thousand to $199 thousand[53] Net Cash Used in Operating Activities - Net cash used in operating activities for the nine months ended September 30, 2024, was $176.0 million[16]

Exhibit 99.1 Sana Biotechnology Reports Third Quarter 2024 Financial Results and Business Updates Continue to advance hypoimmune technology in three trials across five indications in type 1 diabetes, B-cell mediated autoimmune diseases, and oncology Enrolling patients in the investigator-sponsored trial with hypoimmune-modified primary islet cells, GLEAM trial for SC291 in B-cell mediated autoimmune diseases, and VIVID trial for SC262 in relapsed/refractory B-cell malignancies; expect data from these studie ...

Continue to advance hypoimmune technology in three trials across five indications in type 1 diabetes, B-cell mediated autoimmune diseases, and oncology Enrolling patients in the investigator-sponsored trial with hypoimmune-modified primary islet cells, GLEAM trial for SC291 in B-cell mediated autoimmune diseases, and VIVID trial for SC262 in relapsed/refractory B-cell malignancies; expect data from these studies in 2024 and/or 2025Announced increased focus on type 1 diabetes and B-cell mediated autoimmune d ...

Strategic Focus and Development Priorities - The company prioritizes clinical and preclinical development on type 1 diabetes (UP421 and SC451), B-cell mediated autoimmune diseases (SC291), refractory B-cell malignancies (SC262), and the fusogen platform for generating in vivo CAR T cells [1] - The modified strategy extends the expected cash runway into 2026, with potential for multiple data readouts in 2024 and 2025 [1] - The company will suspend development of SC291 in oncology and SC379 (glial progenitor cell program) while seeking partnerships for these programs [1] - Increased investment in the type 1 diabetes program is planned, utilizing cash savings from the strategic changes [1] Clinical Data and Therapeutic Potential - Early clinical data with the hypoimmune platform (HIP) suggest that HIP-modified cells evade immune detection, indicating potential across multiple therapeutic areas [2] - The company expects to present robust clinical data for type 1 diabetes, SC291 in autoimmune diseases, and SC262 in refractory blood cancers over the next 12 to 18 months [2] - SC291 in B-cell mediated autoimmune diseases shows early clinical data indicating deep B cell depletion, which may drive an immune "reset" and significant clinical benefit in conditions like lupus [3] Program Updates and Expectations - UP421 (HIP-modified primary pancreatic islet cells) in type 1 diabetes: An investigator-sponsored trial is active, with proof of concept data expected in 2024 and/or 2025 [3] - SC291 (HIP-modified CD19-directed allogeneic CAR T) in autoimmune diseases: Enrollment continues in the Phase 1 GLEAM trial, with clinical data expected in 2024 and/or 2025 [4] - SC262 (HIP-modified CD22-directed allogeneic CAR T) in oncology: Enrollment continues in the Phase 1 VIVID study, with data expected in 2025 [4] - SC451 (HIP-modified stem cell-derived pancreatic islet cells) in type 1 diabetes: Preclinical development continues [5] - SG299 (in vivo CAR T with CD8-targeted fusogen delivery of a CD19-directed CAR): Preclinical development continues, with potential in both autoimmune diseases and oncology [5] Pipeline Adjustments and Partnerships - SC291 in oncology: Enrollment and further internal investment in the Phase 1 ARDENT trial are halted due to alternative opportunities and increased competition in blood cancers The company is seeking a licensing partner [6] - SC379 (stem-cell derived glial progenitor cells) in CNS diseases: The company is actively seeking a partner or opportunity to spin out this program into a new company [7] Financial and Operational Impact - The modified strategy extends the expected cash runway into 2026, though 2024 operating cash burn may exceed prior guidance of less than $200 million due to ongoing activities and workforce reductions [2]

SEATTLE, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on changing the possible for patients through engineered cells, today announced that it will webcast its panel at the Goldman Sachs Cell Therapy Day Conference at 1:00 p.m. ET on Tuesday, October 1, 2024. The presentation will feature a business overview and update by Steve Harr, Sana's President and Chief Executive Officer. The webcast will be accessible on the Investor Relations page of Sana's website at ...

SEATTLE, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on changing the possible for patients through engineered cells, today announced that it will webcast its presentations at three investor conferences in September. The presentations will feature a business overview and update. Sana will present at the Morgan Stanley 22nd Annual Global Healthcare Conference at 11:30 a.m. ET on Wednesday, September 4, 2024. Sana will present at the 2024 Wells Fargo Healthcare ...

Core Insights - Sana Biotechnology, Inc. has appointed Dr. Dhaval Patel as Executive Vice President and Chief Scientific Officer, bringing extensive experience in research and drug development [1][2] - Dr. Patel has a proven track record, having contributed to the advancement of 10 FDA-approved treatments and has expertise in immunology and autoimmune diseases, which aligns with Sana's clinical pipeline focus [2][3] - The company is currently conducting four clinical trials across seven indications, including B-cell mediated autoimmune diseases and type 1 diabetes, indicating a strong commitment to innovative therapies [3] Company Overview - Sana Biotechnology is dedicated to creating engineered cells as medicines, aiming to repair and control genes and replace missing or damaged cells [4] - The company operates in multiple locations including Seattle, WA, Cambridge, MA, South San Francisco, CA, Bothell, WA, and Rochester, NY [4]