Quarterly ResultMay 11, 2026, 04:16 PM
Sana Biotechnology Q1 Net Loss $47.2M; Mayo Clinic Deal, Clinical Progress
AI Summary
Sana Biotechnology reported a Q1 2026 net loss of $47.2 million, or $0.17 per share, an improvement from $49.4 million in the prior year. The company announced a strategic collaboration with Mayo Clinic, which includes a $25.0 million equity investment, to advance its SC451 program for type 1 diabetes. Additionally, Sana shared positive 14-month clinical results for UP421, demonstrating survival and function in a type 1 diabetes patient without immunosuppression, and is progressing towards Phase 1 trials for SC451 and SG293 later this year. Brian Piper was also appointed as the new CFO.
Key Highlights
- Q1 2026 Net Loss was $47.2 million ($0.17 per share) compared to $49.4 million ($0.21 per share) in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $101.1 million as of March 31, 2026.
- Pro forma cash position reached $128.9 million, including a $25.0 million equity investment from Mayo Clinic.
- Strategic collaboration announced with Mayo Clinic to accelerate development of SC451 for type 1 diabetes.
- Positive 14-month clinical results for UP421 in type 1 diabetes, showing ongoing survival and function without immunosuppression.
- Progress continues toward starting Phase 1 trials for SC451 and SG293 later this year.
- Brian Piper appointed as Executive Vice President, Chief Financial Officer.
- Research and development expenses decreased to $28.7 million in Q1 2026 from $37.2 million in Q1 2025.