Core Insights - Sensei Biotherapeutics is advancing the clinical development of SNS-101, with Phase 1/2 dose expansion clinical data expected in the first half of 2025 [1][5] - The company is undergoing organizational restructuring to focus resources on SNS-101, which includes a workforce reduction of approximately 46% [2][6] - The cash runway has been extended into the second quarter of 2026, with cash, cash equivalents, and marketable securities totaling $47.0 million as of September 30, 2024 [1][7] Clinical Development - SNS-101 is a conditionally active antibody targeting the immune checkpoint VISTA, which is associated with low survival rates in various cancer indications [3] - The Phase 1/2 clinical trial is evaluating SNS-101's safety, tolerability, pharmacokinetics, pharmacodynamics, and efficacy as both a monotherapy and in combination with Regeneron's PD1 inhibitor Libtayo® [4] - Patient enrollment in the dose expansion portion of the study is progressing, with approximately half of the study enrolled [5] Financial Performance - Research and Development (R&D) expenses for Q3 2024 were $4.6 million, an increase from $3.8 million in Q3 2023, primarily due to higher clinical trial costs [8] - General and Administrative (G&A) expenses decreased to $3.2 million in Q3 2024 from $3.9 million in Q3 2023, attributed to lower insurance premiums and outside services [9] - The net loss for Q3 2024 was $7.3 million, slightly higher than the $7.1 million loss in Q3 2023 [9][11] Corporate Updates - The company is closing its research site in Rockville, Maryland, as part of its restructuring efforts [6] - Josiah Craver was appointed as Senior Vice President, Finance, and later as the principal financial officer [6] - Sensei presented data on SNS-101 at various industry conferences, including PEGS Europe and the Society of Immunotherapy Cancer Annual Meeting [5]
Sensei Biotherapeutics Reports Third Quarter 2024 Financial Results and Recent Business Highlights