Sana Biotechnology Q2 adjusted loss narrows, beats estimates

Overview

• Cell therapy developer's Q2 adjusted loss per share beat analyst expectations

• Q2 adjusted net loss also beat analyst expectations

• Company raised $93.3 mln in equity, cash runway expected into mid-2027

Outlook

• Sana expects to begin Phase 1/2 trial for SC451 in type 1 diabetes this year

• Company anticipates initial clinical data for SG293 in non-Hodgkin lymphoma this year

• Company expects cash runway to extend into mid-2027

Result Drivers

• R&D SPENDING - Increased research, laboratory, and clinical development costs for SC451 and SG293 programs drove higher Q2 R&D expenses

• NON-CASH EXPENSES - Higher non-cash expenses from changes in estimated fair value of success payment liabilities and contingent consideration impacted results

• FACILITY COSTS - General and administrative expenses rose due to increases in facility and other allocated costs

Company press release: ID:nGNX9L8jkl

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Sana Biotechnology Inc is $7.00, about 98.9% above its August 7 closing price of $3.52

Reuters Recommended Reads

• Aug 10 - Cogent Biosciences Q2 net loss widens on higher expenses

• Aug 10 - CervoMed Q2 net loss lower than estimates as costs drop

• Aug 10 - Oruka Therapeutics Q2 net loss widens on higher R&D costs

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)