Business
Sana Biotechnology Reports First Quarter 2021 Financial Results and Business Updates
Presented key proof of concept data for multiple platforms at AACR 2021 Q1 2021 cash position of $981.9 million SEATTLE, May 05, 2021 (GLOBE NEWSWIRE) -- Sana
About this update from Sana Biotechnology, Inc.
[{"type":"text","content":"Presented key proof of concept data for multiple platforms at AACR 2021 Q1 2021 cash position of $981.9 million SEATTLE, May 05, 2021 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on creating and delivering engineered cells as medicines, today reported financial results and business highlights for the first quarter of 2021. “We continue to make progress across our platforms and pipeline, targeting a broad set of diseases,” said Steve Harr, Sana’s President and Chief Executive Officer. “In the first quarter, we bolstered our balance sheet, continued to build our capabilities, and moved forward our science. We recently presented scientific data at a medical conference for the first time, highlighting the potential of both our in vivo delivery platform and our ex vivo hypoimmune platform to make innovative CAR T therapies for cancer patients. We look forward to presenting more scientific data and progress updates from our various pipeline programs at conferences this year.” Recent Corporate Scientific Highlights Presented proof of concept animal studies from the in vivo fusogen T cell and ex vivo hypoimmune allogeneic T cell programs at the American Association for Cancer Research Annual Meeting 2021, highlighting the platforms’ ability to make potentially differentiated CAR T cells. A single intravenous dose of targeted fusosomes enables specific delivery of a CD19 CAR transgene to CD8+ T cells, creating CAR T cells in vivo, that show a dose-dependent anti-tumor response regardless of prior T cell activation status.Hypoimmunogenic CAR T cells show the ability to functionally evade the innate and adaptive immune system in allogeneic recipients and demonstrate tumor killing, potentially leading to universal CAR T cells that can persist without immunosuppression. First Quarter 2021 Financial Results GAAP Results Cash Position: Cash, cash equivalents, and marketable securities as of March 31, 2021 were $981.9 million compared to $412.0 million as of December 31, 2020, an increase of $569.9 million. Sana successfully completed its initial public offering in February 2021 and issued 27.0 million shares of common stock, including 3.5 million shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price of $25.00 per share, for net proceeds of $626.4 million.Res...