Senti Biosciences(SNTI) - 2024 Q2 - Quarterly Results

Financial Performance - Senti Bio reported a net loss of $11.2 million for Q2 2024, compared to$18.7 million in the same period in 2023[4][10] - Cash and cash equivalents stood at $15.9 million as of June 30, 2024, down from$35.9 million at the end of 2023[4][9] - Total assets decreased to $86.9 million as of June 30, 2024, from$119.5 million at the end of 2023[9] Research and Development (R&D) - R&D expenses increased to $9.2 million in Q2 2024, up from$6.9 million in Q2 2023, primarily due to manufacturing costs for wholly-owned programs[4][10] - Senti Bio received an 8 million grant from CIRM to support the clinical development of SENTI-202 for relapsed/refractory hematologic malignancies[2] - Patient dosing has commenced in the Phase 1 clinical trial of SENTI-202 for AML, with initial efficacy data expected by year-end 2024[3] - Senti Bio plans to initiate a pilot trial of SENTI-301A for hepatocellular carcinoma in China through a partnership with Celest, with first patient dosing expected in Q4 2024[3] General and Administrative (G&A) Expenses - G&A expenses decreased to 4.2 million in Q2 2024, down from $9.2 million in Q2 2023, mainly due to a reduction in headcount[4][10] Corporate Actions - The company effected a 1-for-10 reverse stock split in July 2024 to comply with Nasdaq's minimum bid price requirement[3] Receivables and Transactions - Senti Bio anticipates$18.9 million in receivables from the GeneFab transaction upon satisfaction of certain conditions[4]