Senti Biosciences Holdings Inc. (SNTI), a clinical-stage biotechnology company, on Thursday announced its first quarter financial results, and highlighted various business developments.
The company is developing SENTI-202 for the treatment of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
Q1 2026:
Net losses amounted to $4.22 million, or $0.14 per share, while in the same period in the prior year, the net loss was $14.11 million, or $1.41 per share.
Research and development (R&D) expenses were $5.3 million, relatively higher than the $3.9 million reported in the previous year.
Cash, cash equivalents, and marketable securities on March 31, 2026, amounted to $8.93 million.
Senti entered a security purchase agreement with an affiliate of Celadon Partners SPV 24, which may result in gross proceeds of $40 million aggregate in senior secured convertible notes. The company is also eligible to receive up to $60 million in milestone payments during the development of SENTI-202.
Business Updates:
The company is developing SENTI-202, a CAR-NK cell therapy targeting hematological malignancies. The drug previously received an orphan drug and regenerative medicine advancement therapy (RMAT) designation from the U.S. Food and Drug Administration (FDA). Following a Type B Initial Comprehensive Multidisciplinary RMAT meeting, the company stated that it had completed the chemistry, manufacturing, and controls (CMC) requirements to advance the pivotal Phase 1 single-arm, multi-center trial in refractory or relapsed (R/R) AML with SENTI-202 administered after LD chemotherapy.
Enrollment is ongoing in the Phase 1 trial.
SNTI is currently trading at $1.04, up 8%.
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