Sana Biotechnology reports Q1 EPS (32c), consensus (32c)

Reports cash, cash equivalents, and marketable securities as of March 31 were $311.1M compared to $205.2M as of December 31, 2023. The increase of $105.9M was primarily driven by net proceeds from equity financings of $181.5 Mduring the three months ended March 31, 2024, partially offset by cash used in operations of $65.6 million and cash used for the purchase of property and equipment of $15.8 million. .”We have four ongoing clinical trials in seven indications, and we remain on track to share initial data from each of these studies in 2024,” said Steve Harr, Sana‘s President and Chief Executive Officer. “We strengthened our capital position with the financing in the first quarter, enabling us to share readouts from multiple clinical studies with our current balance sheet. 2024 is a year of execution at Sana with a goal of better understanding our hypoimmune platform, its potential to treat a number of prevalent diseases, and the impacts of clinical data on our longer-term plans.”