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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Sana Biotechnology
Sana Biotechnology (SANA) investor relations material
Sana Biotechnology Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 2026 net income was $20.4M, driven by non-cash gains from revaluing contingent consideration and success-payment liabilities; operating expenses before those gains remained substantial.
SC451 for type 1 diabetes and SG293 for non-Hodgkin lymphoma advanced toward clinical studies; SC291 and SC262 development was suspended in the November 2025 portfolio prioritization.
Cash, cash equivalents, and marketable securities totaled $121.7M at September 30, 2026; expected runway was into mid-2027.
Financial highlights
Q3 GAAP net income was $20.4M, or $0.07 per share; 9M GAAP net loss was $90.4M, or $0.31 per share.
Q3 non-GAAP net loss was $43.0M, or $0.14 per share; 9M non-GAAP net loss was $121.5M, or $0.41 per share.
Q3 R&D expense was $33.9M, up $3.8M YoY; G&A was $10.9M, versus $10.3M. 9M R&D and G&A were $93.4M and $33.2M, respectively.
Q3 operating expenses were negative $18.5M versus $43.5M a year earlier, reflecting a $63.4M non-cash gain from liability and contingent-consideration fair-value changes.
9M net loss narrowed from $185.3M to $90.4M; 2025 included a $44.6M long-lived asset impairment, while 2026 recorded net gains on liability revaluations.
Outlook and guidance
SC451 IND filing and Phase 1/2 trial are targeted as early as 2026; SG293 clinical study is targeted for 1Q 2027, with first-in-human data possible in H1 2027.
Data from SC451 and SG293 are anticipated in 2027; both programs are viewed as having potential for relatively rapid proof of concept.
SG227 clinical testing could begin as early as 2027, contingent on SG293’s early clinical profile.
Excluding one-time items, 2026 R&D expense is expected to be materially flat or slightly lower than 2025, with G&A materially flat.
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Latest events from Sana Biotechnology
- IND and phase I/II trial for diabetes therapy and first-in-human CAR T data expected within 12 months.SANA
H.C. Wainwright 28th Annual Global Investment Conference - Gene-edited islet therapy for type 1 diabetes nears clinical trial, with CAR T data expected in 2027.SANAMorgan Stanley 24th Annual Global Healthcare Conference
- Hypoimmune cell therapy for diabetes nears trials; in vivo CAR T data expected in 2027.SANACitigroup’s Biopharma Back to School Summit 2026
- Advancing gene-modified islet and in vivo CAR T therapies, with key trials and data expected soon.SANAWells Fargo 21st Annual Healthcare Conference
- Hypoimmune cell and in vivo CAR T platforms advance toward clinical trials for diabetes and cancer.SANACorporate presentation
- Advancing hypoimmune cell therapies for T1D and in vivo CAR T cells, with key trials in 2026.SANACorporate presentation
- Net loss narrowed, clinical readiness advanced, and cash runway projected into mid-2027.SANAQ2 2026
- Immune-evasive cell therapies show promise for diabetes and CAR T programs advance toward clinical milestones.SANAH.C. Wainwright 27th Annual Global Investment Conference
- Gene-edited cell therapy enabled insulin independence and advances toward key milestones in 2025.SANA43rd Annual J.P. Morgan Healthcare Conference 2025
Next Sana Biotechnology earnings date
Q4 20261 Mar, 2027
Sana Biotechnology
Next Sana Biotechnology earnings date
Q4 20261 Mar, 2027
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Frequently asked questions
Sana Biotechnology Inc. is a biotechnology company focusing on the development of engineered cells as medicines. The company focuses on both ex vivo and in vivo cell engineering platforms to address a variety of therapeutic areas with significant unmet needs, including oncology, diabetes, central nervous system disorders, and autoimmune diseases among others. Sana Biotechnology's approach involves the use of cutting-edge technologies such as CRISPR for gene editing and their proprietary platforms, Fusogen for in vivo cell engineering, and a hyperimmune platform for ex vivo cell engineering. They are actively investigating potential treatments for conditions such as non-Hodgkin lymphoma, acute lymphoblastic leukemia, chronic lymphocytic leukemia, multiple myeloma, and diabetes, to name a few. The company is headquartered in Seattle, Washington, and its shares are listed on the NASDAQ.