Sana Biotechnology(US:SANA)2025-11-06 21:10Financial Position - Sana Biotechnology reported a cash position of $153.1 million as of September 30, 2025, compared to $152.5 million at the end of 2024, with a cash runway expected into late 2026[7] - The company raised aggregate gross proceeds of $115.8 million from common stock sales through its at-the-market offering facility in Q3 2025[1] - As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $153.054 million, a slight increase from $152.497 million at the end of 2024[15] - Total assets decreased to $435.432 million from $501.020 million at the end of 2024[15] - The company reported a non-GAAP operating cash burn of $108.0 million for the nine months ended September 30, 2025, compared to $153.1 million for the same period in 2024[10] - The company reported an operating cash burn of $108.040 million for the nine months ended September 30, 2025, compared to $153.084 million for the same period in 2024[22] Research and Development - Research and development expenses for Q3 2025 were $30.1 million, a decrease of $23.1 million compared to $53.2 million in Q3 2024, primarily due to portfolio prioritization[10] - Research and development expenses for the nine months ended September 30, 2025, were $97.056 million, down from $170.528 million in the same period of 2024, a reduction of 43%[17] - The company plans to file an Investigational New Drug Application (IND) for SC451 as early as 2026, focusing on type 1 diabetes treatment[1] - The next-generation in vivo CAR T product candidate SG293 is expected to file an IND as early as 2027, demonstrating deep B-cell depletion in non-human primates[1] - Sana suspended enrollment and further investment in its allogeneic CAR T studies SC291 and SC262 to concentrate resources on SC451 and SG293[2] Financial Performance - Net loss for Q3 2025 was $42.2 million, or $0.16 per share, compared to a net loss of $59.9 million, or $0.25 per share, in Q3 2024[10] - Non-GAAP net loss for Q3 2025 was $39.0 million, or $0.15 per share, compared to $64.7 million, or $0.27 per share, in Q3 2024[10] - For the three months ended September 30, 2025, net loss was $42.152 million, compared to a net loss of $59.924 million for the same period in 2024, representing a 29.7% improvement[17] - The net loss per share for the three months ended September 30, 2025, was $0.16, an improvement from $0.25 in the same period of 2024[23] Future Expectations - The company anticipates the potential ability to develop best-in-class in vivo CAR T therapies for various B-cell cancers and autoimmune diseases[12] - Future expectations include the potential for SC451 in type 1 diabetes to be a single treatment leading to normal blood glucose levels without further insulin treatment[12] - The estimated fair value of success payment liabilities increased to $13.726 million as of September 30, 2025, from $4.556 million at the end of 2024[18] - The company is focused on prioritizing its development programs and optimizing resource allocation to enhance shareholder value[12] Clinical Results - Positive 12-week clinical results for UP421, a hypoimmune-modified pancreatic islet cell therapy, were published, showing safety and insulin production in patients[1]