Sana Biotechnology Outlines Pipeline Prioritization, Reduces Workforce - Sana Biotechnology (NASDAQ:SANA)

Sana Biotechnology Inc SANA announced a portfolio prioritization expected to provide a cash runway into 2025.
The resulting changes include focusing its second HIP-modified allogeneic CAR T program on targeting CD22 for CD19 CAR T failures, halting further internal investment in its SC187 program (cardiomyocytes for heart failure), and stage-gating certain platform investments based upon clinical progress in humans.
The prioritization and restructuring reduced the company's headcount by approximately 15%.
Related: Sana Biotechnology Inks Two Licensing Pacts For Targets Against Hematological Malignancies.
Sana remains on track to file an IND this year for SC291 (HIP-modified, CD19-targeted allogeneic CAR T), with initial clinical data expected in 2023.
For SC263 and SG295, Sana expects to file an IND in 2023.
For SC451 (HIP-modified, stem-cell derived pancreatic islet cell therapy for patients with type 1 diabetes) and SC255 (HIP-modified, BCMA-targeted allogeneic CAR T) for multiple myeloma, the company will file an IND in 2024.
Price Action: SANA shares closed at $4.71 on Tuesday.