Sana Biotechnology Files Q2 2024 10-Q

TL;DR

Sana Bio's Q2 10-Q is in. Check financials for latest updates.

AI Summary

Sana Biotechnology, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial position, including assets and liabilities, and provided updates on its operations. Key financial data and disclosures relevant to investors are included in this quarterly report.

Why It Matters

This filing provides investors with an update on Sana Biotechnology's financial health and operational progress for the second quarter of 2024, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a biotechnology company, Sana Biotechnology is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-08-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Sana Biotechnology, Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-08 (date) — Filing date
• Richard Mulligan (person) — Mentioned in relation to a date

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share SANA The Nasdaq
• $8.1 billion — or exceeds $ 7.4 billion, but less than $8.1 billion 150 350 Equal to o

Filing Documents

• sana-20240630.htm (10-Q) — 2607KB
• sana-ex10_1.htm (EX-10.1) — 22KB
• sana-ex10_2.htm (EX-10.2) — 74KB
• sana-ex31_1.htm (EX-31.1) — 16KB
• sana-ex31_2.htm (EX-31.2) — 15KB
• sana-ex32_1.htm (EX-32.1) — 8KB
• sana-ex32_2.htm (EX-32.2) — 8KB
• img112679855_0.jpg (GRAPHIC) — 384KB
• 0000950170-24-094052.txt ( ) — 10455KB
• sana-20240630.xsd (EX-101.SCH) — 1300KB
• sana-20240630_htm.xml (XML) — 1639KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Loss 7 Condensed Consolidated Statements of Stockholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 111 Item 3. Defaults Upon Senior Securities 111 Item 4. Mine Safety Disclosures 111 Item 5. Other Information 112 Item 6. Exhibits 113

Signatures

Signatures 114 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (Quarterly Report) contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report could be deemed forward-looking statements, including those statements highlighted below. In some cases, you can identify these statements by forward-looking words such as "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," "would," or "will," the negative of these terms, and other comparable terminology. These forward-looking statements, which are subject to risks, include, but are not limited to, statements about: our expectations regarding the potential market size and size of the potential patient populations for our product candidates and any future product candidates, if approved for commercial use; our clinical and regulatory development plans; our expectations with regard to our preclinical studies, clinical trials, and research and development programs, including the impact, timing, and availability of data from such studies and trials; the timing of commencement of future preclinical studies, clinical trials, and research and development programs; our ability to acquire, discover, and develop product candidates and timely advance them into and through clinical data readouts and successful completion of clinical trials; our expectations regarding the potential safety, efficacy, or clinical utility of our product candidates; our intentions with respect to and our ability to establish collaborations or partnerships; the timing or likelihood of regulatory filings and approvals for our product candidates; our commercialization, marketing, and manufacturing expectations, including with respect to the buildout of our manufacturing facility and capabilities an

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements Sana Biotechnology, Inc. Condensed Consolida ted Balance Sheets (in thousands, except per share amounts) June 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 134,958 $ 133,517 Marketable securities 116,685 71,678 Restricted cash 3,832 3,832 Prepaid expenses and other current assets 7,978 4,488 Total current assets 263,453 213,515 Property and equipment, net 85,909 70,689 Operating lease right-of-use assets 63,154 74,903 Intangible asset 59,195 59,195 Goodwill 140,627 140,627 Other non-current assets 6,329 6,370 TOTAL ASSETS $ 618,667 $ 565,299 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,817 $ 4,108 Accrued compensation 15,581 23,722 Accrued expenses and other current liabilities 21,293 23,462 Operating lease liabilities 9,998 13,195 Total current liabilities 50,689 64,487 Operating lease liabilities, net of current portion 88,559 90,901 Contingent consideration 111,621 109,606 Success payment liabilities 20,847 12,799 Other non-current liabilities 7,302 - Total liabilities 279,018 277,793 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value; 50,000 shares authorized; zero shares issued and outstanding as of June 30, 2024 and December 31, 2023 - - Common stock, $ 0.0001 par value; 750,000 shares authorized; 222,209 and 197,857 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 22 20 Additional paid-in capital 1,835,503 1,625,637 Accumulated other comprehensive loss ( 19 ) ( 60 ) Accumulated deficit ( 1,495,857 ) ( 1,338,091 ) Total stockholders' equity 339,649 287,506 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 618,667 $ 565,299 See accompanying notes. 5 Sana Biotec