Sana Q3 net loss $42.2M; shifts focus to type 1 diabetes and in vivo CAR T, suspends allogeneic CAR T

Sana Biotechnology, Inc.

2025-Q3 EPS reported -$0.75 vs consensus -$0.18 ▼ miss (-308.7%)

Q3 net loss $42.2M ($0.16/share); cash $153.1M; raised $115.8M in Q3, pro forma cash $170.5M.
Prioritizing SC451 (type 1 diabetes) IND as early as 2026 and SG293 in vivo CAR T IND as early as 2027.
Suspended allogeneic CAR T programs SC291 and SC262; NEJM published positive 12-week data for UP421 showing insulin production without immunosuppression.
Non-GAAP operating cash burn $108M for 9 months; non-GAAP net loss $39M for Q3.

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