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Sana Biotechnology (SANA) investor relations material
Sana Biotechnology Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Prioritized SC451 (type 1 diabetes) and SG293 (in vivo CAR T) programs, suspending allogeneic CAR T programs SC291 and SC262 to focus resources on most promising assets.
Announced positive 12-week and six-month results from the UP421 trial, showing survival, function, and immune evasion of transplanted beta cells without immunosuppression in type 1 diabetes patients.
Completed public offerings and ATM equity sales in 2025, raising $133.2 million in gross proceeds and $109.2 million in net proceeds.
Financial highlights
Net loss for Q3 2025 was $42.2 million ($0.16/share), and $185.3 million ($0.75/share) for the nine months ended September 30, 2025, both improved from 2024.
Research and development expenses for Q3 2025 were $30.1 million, down from $53.2 million in Q3 2024; for the nine months ended September 30, 2025, R&D expenses were $97.1 million, down from $170.5 million in 2024.
General and administrative expenses for Q3 2025 were $10.3 million, down from $14.1 million in Q3 2024; for the nine months ended September 30, 2025, G&A expenses were $32.1 million, down from $46.8 million in 2024.
Cash, cash equivalents, and marketable securities totaled $153.1 million as of September 30, 2025.
Non-GAAP net loss for Q3 2025 was $39.0 million ($0.15/share), and $125.4 million ($0.51/share) for the nine months, both improved year-over-year.
Outlook and guidance
Cash and recent equity proceeds expected to fund operations for at least one year from the filing date, with runway projected into late 2026.
Anticipates need for additional financing in the future to support ongoing operations and clinical development.
Plans to file IND for SC451 as early as 2026 and for SG293 as early as 2027.
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