SANA Sana Biotechnology, Inc
Price Chart
Executive Summary
Sana Biotechnology reported Q1 2026 GAAP net loss of $0.17 per share, slightly better than the $0.21 loss in Q1 2025 but worse than the $0.15 consensus estimate. The company highlighted progress toward clinical trials for SC451 (type 1 diabetes) and SG293 (non-Hodgkin lymphoma), a strategic collaboration with Mayo Clinic including a $25M equity investment, and a cash runway into 2027. The EPS miss and lack of revenue are bearish, but the pipeline progress and collaboration provide some offset.
Actionable Insight
The EPS miss and continued cash burn are negative, but the Mayo collaboration and pipeline catalysts (SC451 IND, SG293 data) could drive near-term volatility. Watch for IND filing updates and ASGCT presentation on May 12 for SG293 surrogate data — positive results could reverse sentiment. Cash runway into 2027 reduces near-term dilution risk.
Key Facts
- GAAP net loss per share of $0.17 vs consensus estimate of $0.15 (miss of 13.3%)
- Net loss of $47.2M in Q1 2026 vs $49.4M in Q1 2025
- Cash, cash equivalents, and marketable securities of $101.1M as of March 31, 2026, down from $138.4M at year-end 2025
- Non-GAAP operating cash burn of $37.0M in Q1 2026 vs $46.6M in Q1 2025
- Entered strategic collaboration with Mayo Clinic for SC451, including $25M equity investment with option for additional $25M
- Reported positive 14-month clinical data for UP421 (HIP-modified islet cells) showing ongoing survival and function without immunosuppression
- Expects to file IND and begin Phase 1 trial for SC451 later in 2026
- Expects to begin clinical study for SG293 (in vivo CAR T) later in 2026
- Appointed Brian Piper as new CFO
- No revenue reported; pre-revenue biotechnology company
Financial Impact
EPS miss of $0.02 vs consensus; cash burn of $37M in the quarter; cash runway into 2027
Risk Factors
- Clinical trial delays or failures for SC451 or SG293
- Continued cash burn without near-term revenue
- Dilution risk from ATM facility and potential future equity offerings
- Dependence on Mayo Clinic collaboration for SC451 development
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292311 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 11, 2026
4w ago
|
8-K
| $3.26 $3.04 | ▼ −6.75% | ▼ −6.83% | $2.68 (−17.79%) |
|
May 11, 2026
4w ago
|
Press Release
| $3.26 $3.04 | ▲ +6.75% | ▲ +6.83% | $2.68 (+17.79%) |
|
Apr 24, 2026
7w ago
|
DEFA14A
| $3.29 $3.29 | · 0.00% | ▼ −0.91% | $2.68 (−18.54%) |
|
Apr 24, 2026
7w ago
|
8-K
| $3.29 $3.29 | · 0.00% | ▼ −0.91% | $2.68 (−18.54%) |
|
Apr 13, 2026
8w ago
|
8-K
| $3.48 $3.70 | ▲ +6.32% | ▲ +4.93% | $2.68 (−22.99%) |
|
Apr 13, 2026
8w ago
|
Press Release
| $3.48 $3.70 | ▲ +6.32% | ▲ +4.93% | $2.68 (−22.99%) |
|
Mar 13, 2026
13w ago
|
Press Release
| $3.36 $3.11 | ▼ −7.44% | ▼ −5.32% | $2.68 (−20.24%) |
|
Mar 3, 2026
14w ago
|
Press Release
| $3.82 $3.15 | ▼ −17.54% | ▼ −16.21% | $2.68 (−29.84%) |
US Market Status
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