AcquisitionsAug 4, 2026, 07:48 AM
Sensei Biotherapeutics Acquires Faeth, Changes Name to Faeth Therapeutics
AI Summary
Sensei Biotherapeutics, Inc. completed the acquisition of Faeth Therapeutics, Inc. on February 17, 2026, and subsequently changed its name to Faeth Therapeutics, Inc. on June 15, 2026. Concurrently, the company raised $200 million through a private placement of Series B Preferred Stock, which largely converted to common stock after stockholder approval. The company reported a net loss of $186.2 million for the six months ended June 30, 2026, and an accumulated deficit of $469.4 million, but expects its current cash and marketable securities of $186.4 million to fund operations for at least the next twelve months.
Key Highlights
- Acquired Faeth Therapeutics, Inc. on February 17, 2026.
- Company name changed from Sensei Biotherapeutics, Inc. to Faeth Therapeutics, Inc. on June 15, 2026.
- Completed a $200 million private placement financing of Series B Preferred Stock.
- Reported a net loss of $186.2 million for the six months ended June 30, 2026.
- Cash, cash equivalents, and marketable securities totaled $186.4 million as of June 30, 2026.
- Accumulated deficit reached $469.4 million as of June 30, 2026.
- Recognized $132.9 million in acquired in-process research and development expense.
- 24,435,594 shares of Series B Preferred Stock converted to Common Stock on June 15, 2026.
Price Impact
More from SNSE