Senti Bio Reports Q2 2024 Results and Corporate Updates

Senti Biosciences, Inc. (Nasdaq: SNTI), a pioneering biotechnology firm, has announced significant progress in its ongoing projects and financial performance for the second quarter of 2024. The company's efforts to innovate in cell and gene therapies are underscored by advancements in their clinical trials and new financial backing.

Timothy Lu, MD, PhD, CEO and Co-Founder of Senti Bio, expressed optimism about the progress so far. He mentioned that patient dosing in the Phase 1 clinical trial of SENTI-202 for acute myeloid leukemia (AML) has begun, marking a crucial step in their development pipeline. Moreover, the company is preparing to start a pilot trial of SENTI-301A for hepatocellular carcinoma (HCC) in China through its partnership with Celest Therapeutics later this year.

In August, Senti Bio received an $8 million grant from the California Institute for Regenerative Medicine (CIRM). This grant will support the clinical development of SENTI-202, a cutting-edge chimeric antigen receptor natural killer (CAR-NK) investigational cell therapy designed to treat relapsed/refractory hematologic malignancies, including AML.

Senti Bio's Phase 1 clinical trial of SENTI-202, currently underway in the U.S. and Australia, aims to treat patients with relapsed/refractory AML. The company expects to share initial efficacy data by the end of 2024 and durability data in 2025.

In collaboration with Celest Therapeutics, Senti Bio is developing SENTI-301A to address solid tumors in China. Celest plans to start patient enrollment for a pilot trial in mainland China by the fourth quarter of 2024.

In order to meet Nasdaq’s minimum bid price requirement for continued listing, Senti Bio executed a one-for-ten reverse stock split of its common stock in July 2024.

Financially, as of June 30, 2024, Senti Bio reported holding $15.9 million in cash and cash equivalents. The company also anticipates receiving $18.9 million in receivables from the GeneFab transaction once certain conditions are met. Research and development expenses for the quarter were $9.2 million, compared to $6.9 million in the same period last year. This rise was largely due to increased manufacturing costs. General and administrative expenses decreased to $4.2 million from $9.2 million, attributed mainly to a reduction in staff. Overall, the net loss for the quarter was $11.2 million, or $2.45 per basic and diluted share.

Looking ahead, Senti Bio plans to participate in several upcoming investment conferences, including the H.C. Wainwright 26th Annual Global Investment Conference in September and Chardan’s 8th Annual Genetic Medicines Conference at the end of September.

Senti Biosciences specializes in developing advanced cell and gene therapies aimed at treating incurable diseases. The company's proprietary Gene Circuit platform enhances the precision and effectiveness of their therapies. These Gene Circuits are engineered to specifically target cancer cells while sparing healthy ones, and they allow for controlled drug expression post-administration. Senti Bio’s pipeline focuses on off-the-shelf CAR-NK cells to tackle both liquid and solid tumor indications. The company is also exploring the potential of Gene Circuits in other diseases through collaborations with Spark Therapeutics and BlueRock Therapeutics.

Through these developments, Senti Bio aims to revolutionize the field of oncology and provide new, effective treatment options for patients with challenging medical conditions.