Senti Biosciences(SNTI) - 2025 Q2 - Quarterly Results

Management Commentary The CEO highlighted significant progress in the SENTI-202 clinical trial, including the completion of dose finding and confirmation of the recommended Phase 2 dose (RP2D), with additional efficacy and durability data anticipated by the end of 2025 - Completed dose finding and confirmed the recommended Phase 2 dose (RP2D) for the SENTI-202 Phase 1 study[2] - Currently enrolling additional relapsed/refractory AML patients in the dose expansion phase at the RP2D[2] - Expects to release additional efficacy and durability data from the ongoing Phase 1 study in Q4 2025[1][2] Recent Pipeline and Corporate Updates Senti Bio has made notable progress with its lead program, SENTI-202, securing FDA Orphan Drug Designation and additional grant funding, while strengthening leadership and increasing market awareness SENTI-202 Program Highlights - The dose finding phase for the Phase 1 clinical trial of SENTI-202 (NCT06325748) for hematologic malignancies including AML is complete, and the recommended Phase 2 dose (RP2D) has been confirmed[5] - The U.S. FDA granted Orphan Drug Designation for the use of SENTI-202 to treat Acute Myeloid Leukemia (AML)[5] - Received an additional $1.0 million tranche from a California Institute for Regenerative Medicines (CIRM) grant to advance the clinical development of SENTI-202[5] Corporate Developments and Market Awareness - Strengthened leadership with the appointment of Bryan Baum to the Board of Directors and Dr. James B. Trager to the Scientific Advisory Board[5] - Increased visibility through participation in various events, including Nasdaq's Amplify Spotlight Series, the 2025 SEED Conference, and virtual investor webinars hosted by Chardan and Webull[5][9] Second Quarter 2025 Financial Results For the second quarter of 2025, Senti Bio reported a net loss of $14.7 million and held $21.6 million in cash and cash equivalents, with operating expenses increasing due to higher R&D and G&A costs Key Financial Metrics (Q2 2025 vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | R&D Expenses | $10.0 million | $9.2 million | +$0.8 million | | G&A Expenses | $6.8 million | $4.2 million | +$2.6 million | | Net Loss | $14.7 million | $11.2 million (from table) | +$3.5 million | | Net Loss per Share | $0.56 | $2.45 (from table) | N/A (share count changed) | Cash Position | Date | Cash and Cash Equivalents | | :--- | :--- | | June 30, 2025 | $21.6 million | | December 31, 2024 | $48.3 million | - The increase in R&D expenses was primarily due to a $0.8 million rise in external services and supplies costs[9] - The increase in G&A expenses was mainly driven by a $2.5 million increase in personnel-related expenses[9] Financial Statements The unaudited financial statements provide a detailed view of Senti Bio's financial position as of June 30, 2025, and its operational results for the three and six months then ended, showing a decrease in cash and total assets since year-end 2024 Unaudited Selected Consolidated Balance Sheet Data Consolidated Balance Sheet Data (in thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $21,576 | $48,277 | | Total assets | $68,540 | $97,841 | | Total liabilities | $43,888 | $47,086 | | Accumulated deficit | $(325,979) | $(297,134) | | Total stockholders' equity | $24,652 | $25,649 | Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss Condensed Consolidated Statements of Operations (in thousands, except per share data) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | 2025 | 2024 | 2025 | 2024 | | Operating Expenses | | | | | | Research and development | $10,029 | $9,151 | $19,310 | $17,929 | | General and administrative | $6,769 | $4,205 | $13,885 | $11,728 | | Total operating expenses | $16,798 | $13,356 | $33,195 | $29,657 | | Loss from operations | $(16,798) | $(13,356) | $(33,195) | $(29,657) | | Total other income | $2,065 | $2,153 | $4,350 | $6,343 | | Net loss | $(14,733) | $(11,203) | $(28,845) | $(23,314) | | Net loss per share | $(0.56) | $(2.45) | $(1.59) | $(5.10) |