Business
Sana Biotechnology Reports Third Quarter 2023 Financial Results and Business Updates
Enrolling Phase 1 ARDENT trial investigating SC291 in patients with refractory B-cell malignancies with initial data expected in 2023 and more robust data in
About this update from Sana Biotechnology, Inc.
[{"type":"text","content":"Enrolling Phase 1 ARDENT trial investigating SC291 in patients with refractory B-cell malignancies with initial data expected in 2023 and more robust data in 2024 CTA submitted for investigator-sponsored trial (IST) evaluating hypoimmune (HIP)-modified primary islet cells in patients with type 1 diabetes with data expected in 2023 and 2024 IND submitted to investigate SC291 in multiple B-cell-mediated autoimmune diseases; initial proof of concept data expected in 2024 IND submission on track for this year for SC262 in patients with B-cell malignancies who have failed a CD19 therapy with initial proof of concept data expected in 2024 Presenting multiple abstracts from hypoimmune and fusogen platforms at the 2023 American Society of Hematology Annual Meeting (ASH) Cash position of $268.6 million expected to last into 2025; supporting activities through multiple data readouts SEATTLE, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on changing the possible for patients through engineered cells, today reported financial results and business highlights for the third quarter 2023. “We continue to execute on our plans to develop our hypoimmune technology, with the potential to deliver data from four different clinical settings in 2023 and 2024,” said Steve Harr, Sana’s President and Chief Executive Officer. “We have increased confidence that this platform can prevent immune recognition of allogeneic cells, unlocking the potential for important medicines in blood cancers, B-cell-mediated autoimmune diseases, and type 1 diabetes, and we look forward to sharing data later this year and next. With our recent strategic repositioning, we expect 2024 operating cash burn to be below $200 million, enabling multiple clinical data readouts with our current balance sheet and a cash runway into 2025.” Recent Corporate Highlights Human proof of concept data in multiple clinical settings – including oncology, autoimmune diseases, and type 1 diabetes – expected in 2023 and 2024 The ARDENT trial evaluates SC291, an ex vivo HIP-modified CD19-directed allogeneic CAR T cell therapy, in patients with B-cell malignancies. The goal of the hypoimmune platform is to overcome the immunologic rejection of allogeneic cells, which, if successful with SC291, may result in longer CAR T cell persistence and a higher rate o...