Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio” or the
“Company”), a biotechnology company developing next-generation cell
and gene therapies using its proprietary Gene Circuit platform,
today reported financial results for the third quarter of 2024 and
provided a summary of recent pipeline and corporate highlights.
“Over the past quarter, we have continued to execute on our
clinical milestones and look forward to sharing initial results
from the clinical trial of SENTI-202 before 2024 year-end,” said
Timothy Lu, MD, PhD, Chief Executive Officer and Co-Founder of
Senti Bio. “As we look toward 2025, we anticipate sharing
additional data from this trial including initial durability data
and we look forward to continue demonstrating the potential of our
technology in our next-generation cell therapies in oncology.”
PIPELINE AND CORPORATE HIGHLIGHTS
SENTI-202 for Acute Myeloid Leukemia (“AML”):
The Company announced that patient dosing has commenced, and is
ongoing, in the Phase 1 clinical trial of SENTI-202 (NCT06325748)
for the treatment of relapsed/refractory hematologic malignancies
including AML. The Phase 1 trial focuses on patients with
relapsed/refractory AML in the U.S. and Australia. Initial safety
and efficacy data readout remains on-track by year-end 2024 and
initial durability data is expected to follow in 2025.
CIRM Grant Commencement for Clinical Development of
SENTI-202: Through November 2024, Senti Bio has received
$4.9 million of an $8 million grant from the California Institute
for Regenerative Medicines (“CIRM”) that was first announced in
June 2024.
SENTI-301A for HCC: Senti Bio is developing
SENTI-301A to treat solid tumors in China through a strategic
collaboration with Celest Therapeutics (Shanghai) Co. Ltd
(“Celest”). Celest plans to enroll patients initially in a pilot
trial in mainland China and expects to dose the first patient in
the fourth quarter of 2024.
SELECTED THIRD QUARTER 2024 FINANCIAL
RESULTS
- Cash and Cash
Equivalents: As of September 30, 2024, Senti Bio held cash and cash
equivalents of $10.5 million. Subsequent to quarter-end, the
Company received $2.5 million, the second tranche of an $8 million
grant from CIRM, for achieving a CIRM operational milestone in
August 2024.
- R&D Expenses:
Research and development expenses were $8.7 million for the quarter
ended September 30, 2024, compared to $9.1 million for the same
period in 2023. The decrease year over year was primarily related
to a reduction in headcount offset by an increase in manufacturing
costs to support development of Senti Bio’s wholly-owned
programs.
- G&A Expenses:
General and administrative expenses were $6.2 million for the
quarter ended September 30, 2024, compared to $9.4 million for the
same period in 2023. The decrease year over year was mainly
attributed to a reduction in headcount.
- Net Loss: Net loss
was $28.9 million, or $(6.31) per basic and diluted share, for the
quarter ended September 30, 2024.
UPCOMING EVENTS
Senti Bio plans to participate in the following scientific
conferences in the near future:
- Immunotherapy Bridge 2024December 4-5, 2024 – Naples,
Italy
- American Society of Hematology 2024December 7-10, 2024 – San
Diego, CA
About Senti Bio Senti Bio is a biotechnology
company developing a new generation of cell and gene therapies for
patients living with incurable diseases. To achieve this, Senti Bio
is leveraging a synthetic biology platform called Gene Circuits to
create therapies with enhanced precision and control. These Gene
Circuits are designed to precisely kill cancer cells, spare healthy
cells, increase specificity to target cells and control the
expression of drugs even after administration. The Company’s
wholly-owned pipeline utilizes off-the-shelf CAR-NK cells,
outfitted with Gene Circuits, to target challenging liquid and
solid tumor indications. Senti Bio has also preclinically
demonstrated the potential breadth of Gene Circuits in other
modalities, diseases outside of oncology, and continues to advance
these capabilities through partnerships with Spark Therapeutics and
BlueRock Therapeutics.
Forward-Looking Statements This press release
and document contain certain statements that are not historical
facts and are considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements generally are identified by the
words “believe,” “could,” “predict,” “continue,” “ongoing,”
“project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
“forecast,” “seek,” “target” and similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters. Forward-looking statements are predictions,
projections, and other statements about future events that are
based on current expectations of Senti Bio’s management and
assumptions, whether or not identified in this document, and, as a
result, are subject to risks and uncertainties. Forward-looking
statements include, but are not limited to, expectations regarding
Senti Bio’s growth, strategy, progress and timing of its clinical
trials for SENTI-202, including the timing and the amount of grant
from CIRM; the timing of availability of data from the ongoing
Phase 1 clinical trial of SENTI-202; the ability of any product
candidate to perform in humans in a manner consistent with
nonclinical, preclinical or previous clinical study data; the
growth, strategy, progress and timing of clinical trials for
SENTI-301A through Celest in China; expectations regarding the
anticipated dosing of patients and availability of data from
clinical trials, and the timing thereof; the ability to initiate
new clinical programs; as well as statements about the potential
attributes and benefits of Senti Bio’s platform technology and the
progress and continuation of its collaborations with Celest, Spark
Therapeutics and BlueRock Therapeutics and other collaboration and
strategic partners. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction, or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Senti Bio. Many
factors could cause actual future results to differ materially from
the forward-looking statements in this document, including but not
limited to: (i) changes in domestic and foreign business, market,
financial, political and legal conditions, (ii) changes in the
competitive and highly regulated industries in which Senti Bio
operates, variations in operating performance across competitors,
changes in laws and regulations affecting Senti Bio’s business,
(iii) the ability to implement business plans, forecasts and other
expectations, (iv) the risk of downturns and a changing regulatory
landscape in Senti Bio’s highly competitive industry, (v) risks
relating to the uncertainty of any projected financial information
with respect to Senti Bio, (vi) risks related to uncertainty in the
timing or results of Senti Bio’s clinical trial start up, clinical
studies, patient enrollment, and GMP manufacturing startup
activities, (vii) Senti Bio’s dependence on third parties in
connection with clinical trial startup, clinical studies, and GMP
manufacturing activities, (viii) risks related to delays and other
impacts from macroeconomic and geopolitical events, increasing
rates of inflation and rising interest rates on business
operations, (ix) risks related to the timing and utilization of the
grant from CIRM, and (x) the success of any future research and
development efforts by Senti Bio. The foregoing list of factors is
not exhaustive. You should carefully consider the foregoing factors
and the other risks and uncertainties described in the “Risk
Factors” section of Senti Bio’s most recent periodic report filed
with the U.S. Securities and Exchange Commission (“SEC”), and other
documents filed by Senti Bio from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements
in this document. There may be additional risks that Senti Bio does
not presently know, or that Senti Bio currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements in this document.
Forward-looking statements speak only as of the date they are made.
Senti Bio anticipates that subsequent events and developments may
cause Senti Bio’s assessments to change. Except as required by law,
Senti Bio assumes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Availability of Other Information About Senti
Biosciences, Inc. For more information, please visit the
Senti Bio website at https://www.sentibio.com or follow Senti Bio
on X (@SentiBio) and LinkedIn (Senti Biosciences). Investors and
others should note that we communicate with our investors and the
public using our company website (www.sentibio.com), including, but
not limited to, company disclosures, investor presentations and
FAQs, Securities and Exchange Commission filings, press releases,
public conference call transcripts and webcast transcripts, as well
as on X and LinkedIn. The information that we post on our website
or on X or LinkedIn could be deemed to be material information. As
a result, we encourage investors, the media and others interested
to review the information that we post there on a regular basis.
The contents of our website or social media shall not be deemed
incorporated by reference in any filing under the Securities Act of
1933, as amended.
| |
|
Senti Biosciences, Inc.Unaudited Selected
Consolidated Balance Sheet Data(in thousands) |
| |
| |
|
September 30, |
|
December 31, |
| |
|
2024 |
|
2023 |
| |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
10,479 |
|
$ |
35,926 |
| Total assets |
|
57,721 |
|
119,484 |
| Total liabilities |
|
41,727 |
|
52,571 |
| Total stockholders’
equity |
|
15,994 |
|
66,913 |
| |
| Senti
Biosciences, Inc.Unaudited Consolidated Statements
of Operations(in thousands, except share and per share
data) |
| |
| |
|
Three Months
Ended |
|
Nine Months
Ended |
| |
|
September 30, |
|
September 30, |
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
- |
|
|
$ |
338 |
|
|
$ |
- |
|
|
$ |
2,561 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
Research and development (including related party cost of $3,790
and $1,186 for the three months ended September 30, 2024 and 2023,
respectively, and $11,059 and $1,186 for the nine months ended
September 30, 2024 and 2023, respectively) |
|
8,655 |
|
|
9,092 |
|
|
26,584 |
|
|
23,028 |
|
|
General and administrative |
|
6,247 |
|
|
9,431 |
|
|
17,975 |
|
|
27,871 |
|
|
Impairment of long-lived assets |
|
313 |
|
|
25,691 |
|
|
313 |
|
|
25,681 |
|
|
Total operating expenses |
|
15,215 |
|
|
44,214 |
|
|
44,872 |
|
|
76,590 |
|
| Loss from operations |
|
(15,215 |
) |
|
(43,876 |
) |
|
(44,872 |
) |
|
(74,029 |
) |
|
Total other income (expense), net |
|
(13,651 |
) |
|
7,261 |
|
|
(7,308 |
) |
|
9,311 |
|
| Net loss from continuing
operations |
|
(28,866 |
) |
|
(36,615 |
) |
|
(52,180 |
) |
|
(64,718 |
) |
| Net income from discontinued
operations |
- |
|
|
21,692 |
|
|
- |
|
|
12,376 |
|
| Net loss |
|
(28,866 |
) |
|
(14,923 |
) |
|
(52,180 |
) |
|
(52,342 |
) |
|
Other comprehensive loss |
|
- |
|
|
- |
|
|
- |
|
|
(1 |
) |
| Comprehensive loss |
|
$ |
(28,866 |
) |
|
$ |
(14,923 |
) |
|
$ |
(52,180 |
) |
|
$ |
(52,343 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share from
continuing operations, basic and diluted |
|
$ |
(6.31 |
) |
|
$ |
(8.24 |
) |
|
$ |
(11.41 |
) |
|
$ |
(14.62 |
) |
| Net income per share, from
discontinued operations basic and diluted |
|
- |
|
|
4.88 |
|
|
- |
|
|
2.80 |
|
| Net loss per share, basic and
diluted |
|
$ |
(6.31 |
) |
|
$ |
(3.36 |
) |
|
$ |
(11.41 |
) |
|
$ |
(11.82 |
) |
| Weighted-average shares
outstanding, basic and diluted |
|
4,577,122 |
|
|
4,447,223 |
|
|
4,573,307 |
|
|
4,427,458 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Senti Bio ContactsInvestors:
investors@sentibio.comMedia: media@sentibio.com
Senti Biosciences (NASDAQ:SNTI)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Senti Biosciences (NASDAQ:SNTI)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
