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 second quarter of 2024 and
provided a summary of recent corporate and pipeline highlights.
“We have demonstrated important progress year to date, dosing
patients in our Phase 1 clinical trial of SENTI-202 in AML and
continuing to execute on our development pipeline priorities,” said
Timothy Lu, MD, PhD, Chief Executive Officer and Co-Founder of
Senti Bio. “Additionally, we look forward to initiating our pilot
trial of SENTI-301A in hepatocellular carcinoma (“HCC”) in China
through our partnership with Celest later this year. These clinical
milestones represent critical steps to bring our product candidates
to patients and highlight the potential of our next-generation cell
therapies in oncology.”
CORPORATE AND PIPELINE HIGHLIGHTS
CIRM Grant for Clinical Development of
SENTI-202: In August, Senti Bio announced the commencement
of an $8 million grant from the California Institute for
Regenerative Medicines (“CIRM”). The grant will support the ongoing
clinical development of SENTI-202, a potential first-in-class Logic
Gated off-the-shelf chimeric antigen receptor natural killer
(“CAR-NK”) investigational cell therapy, for the treatment of
relapsed/refractory hematologic malignancies including acute
myeloid leukemia (“AML”).
SENTI-202 for 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 will focus on relapsed/refractory AML patients in the
U.S. and Australia. Initial efficacy data is anticipated by
year-end 2024 and initial durability data is expected to follow in
2025.
SENTI-301A for HCC: Senti Bio is developing
SENTI-301A to treat solid tumors in China through a strategic
collaboration agreement with Celest Therapeutics (Shanghai) Co. Ltd
(“Celest”). Celest will enroll patients initially through a pilot
trial in mainland China and now expects to dose the first patient
in the fourth quarter of 2024.
Reverse Stock Split: In July 2024, Senti Bio
effected a one-for-ten (1-for-10) reverse stock split of its common
stock to bring the Company into compliance with Nasdaq’s minimum
bid price requirement for continued listing.
SECOND QUARTER 2024 FINANCIAL RESULTS
- Cash and Cash Equivalents: As of June 30, 2024, Senti Bio held
cash and cash equivalents of $15.9 million. The Company also holds
$18.9 million in receivables anticipated from the GeneFab
transaction upon satisfaction of certain conditions.
- R&D Expenses: Research and development expenses were $9.2
million for the quarter ended June 30, 2024, compared to $6.9
million for the same period in 2023. The increase was primarily
related to manufacturing costs to support development of Senti
Bio’s wholly-owned programs.
- G&A Expenses: General and administrative expenses were $4.2
million for the quarter ended June 30, 2024, compared to $9.2
million for the same period in 2023. The decrease was mainly
attributed to a reduction in headcount.
- Net Loss: Net loss was $11.2
million, or $2.45 per basic and diluted share, for the quarter
ended June 30, 2024.
UPCOMING EVENTS
Senti Bio plans to participate in the following investment
conferences:
- H.C. Wainwright 26th Annual Global Investment
ConferenceSeptember 9-11, 2024 – New York, NY
- Chardan’s 8th Annual Genetic Medicines ConferenceSeptember
30-October 1, 2024 – New York, NY
About Senti BioSenti 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 StatementsThis 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; the amount of anticipated
receivables under its agreements with GeneFab; 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 Quarterly Report on Form 10-Q, filed with the U.S. Securities
and Exchange Commission (“SEC”) on May 9, 2024, 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 (formerly Twitter) (@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) |
|
|
| |
|
June 30, |
|
December 31, |
| |
|
2024 |
|
2023 |
| |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
15,860 |
|
$ |
35,926 |
| GeneFab receivable – related
party |
|
18,624 |
|
17,592 |
| GeneFab prepaid expenses –
related party |
|
7,663 |
|
14,787 |
| Restricted cash |
|
3,546 |
|
3,522 |
| Property and equipment,
net |
|
23,253 |
|
25,338 |
| Operating lease right-of-use
assets |
|
15,301 |
|
16,274 |
| Total assets |
|
86,913 |
|
119,484 |
| Total liabilities |
|
42,765 |
|
52,571 |
| Total stockholders’
equity |
|
44,148 |
|
66,913 |
|
|
|
Senti Biosciences, Inc.Unaudited
Consolidated Statements of Operations(in thousands, except
share and per share data) |
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
- |
|
|
$ |
937 |
|
|
$ |
- |
|
|
$ |
2,223 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
Research and development (included related party cost of $3,637, $
-, $7,269 and $ -, respectively) |
|
9,151 |
|
|
6,876 |
|
|
17,929 |
|
|
13,936 |
|
|
General and administrative |
|
4,205 |
|
|
9,249 |
|
|
11,728 |
|
|
18,440 |
|
|
Total operating expenses |
|
13,356 |
|
|
16,125 |
|
|
29,657 |
|
|
32,376 |
|
| Loss from operations |
|
(13,356 |
) |
|
(15,188 |
) |
|
(29,657 |
) |
|
(30,153 |
) |
|
Total other income, net |
|
2,153 |
|
|
938 |
|
|
6,343 |
|
|
2,050 |
|
| Net loss from continuing
operations |
|
(11,203 |
) |
|
(14,250 |
) |
|
(23,314 |
) |
|
(28,103 |
) |
| Net loss from discontinued
operations |
- |
|
|
(4,447 |
) |
|
- |
|
|
(9,316 |
) |
| Net loss |
|
(11,203 |
) |
|
(18,697 |
) |
|
(23,314 |
) |
|
(37,419 |
) |
|
Other comprehensive loss |
|
- |
|
|
(3 |
) |
|
- |
|
|
(1 |
) |
| Comprehensive loss |
|
$ |
(11,203 |
) |
|
$ |
(18,700 |
) |
|
$ |
(23,314 |
) |
|
$ |
(37,420 |
) |
| |
|
|
|
|
|
|
|
|
| Net loss per share from
continuing operations, basic and diluted |
|
$ |
(2.45 |
) |
|
$ |
(3.22 |
) |
|
$ |
(5.10 |
) |
|
$ |
(6.36 |
) |
| Net loss per share, from
discontinued operations basic and diluted |
|
- |
|
|
(1.00 |
) |
|
- |
|
|
(2.11 |
) |
| Net loss per share, basic and
diluted |
|
$ |
(2.45 |
) |
|
$ |
(4.22 |
) |
|
$ |
(5.10 |
) |
|
$ |
(8.47 |
) |
| Weighted-average shares
outstanding, basic and diluted |
|
4,572,010 |
|
|
4,427,726 |
|
|
4,571,377 |
|
|
4,417,411 |
|
All periods presented have been retroactively adjusted to
reflect the 1-for-10 reverse stock split effected on July 17,
2024.
Senti Bio ContactsInvestors:
investors@sentibio.comMedia: media@sentibio.com
Senti Biosciences (NASDAQ:SNTI)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Senti Biosciences (NASDAQ:SNTI)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
