Senti Biosciences, Inc. (SNTI): restructuring charge — Senti Bio cuts workforce 37%, extends cash runway to Q1 2025; focuses on SENTI-202

Senti Biosciences, Inc.

Workforce reduction of ~37% with one-time severance costs of ~$1M in Q1 2024.
Cash, equivalents and securities $40.3M as of Nov 30, 2023; runway extended into Q1 2025.
SENTI-202 Phase 1: first patient dosing expected Q2 2024, initial efficacy data by year-end 2024.
SENTI-301A with Celest: first patient dosing expected H1 2024.
Scale back other R&D; continue Spark and BlueRock collaborations.

item 2.05 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Senti Biosciences, Inc. announced a restructuring with charges of approximately $1 million (approximately 37%).

Type: restructuring
Charge: approximately $1 million
Headcount: approximately 37%

Exact text from the filing

On January 3, 2024, the Board of Directors (the “Board”) of Senti Biosciences, Inc. (the “Company”) approved plans to streamline the Company’s business operations to enable increased focus on SENTI-202, a first-in-class Logic Gated investigational cell therapy for the treatment of acute myeloid leukemia and to continue support for the clinical development activities of SENTI-301A for the treatment of hepatocellular carcinoma in China through the Company’s partnership with Celest Therapeutics. Pursuant to these plans, the Company is reducing its workforce by approximately 37%. The Company expects that these resource allocation efforts, in addition to other expected receivables, will extend its cash runway into the first quarter of 2025. The Company expects to incur one-time estimated severance and related costs of approximately $1 million, which are anticipated to be incurred and recorded in the first quarter of 2024.

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2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Senti Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001854270-24-000005

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