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Senti Biosciences | 10-K: FY2024 Annual Report

SEC ·  Mar 20 21:09

Summary by Moomoo AI

Senti Bio, a clinical-stage biotechnology company, reported FY2024 financial results with a net loss of $52.8M, representing a 25.7% improvement from $71.1M in 2023. Revenue decreased to $0 from $2.6M YoY, while operating expenses were reduced by 36% to $61.0M. The company ended the year with a cash position of $48.3M, bolstered by a $47.6M Series A preferred stock offering and the $37.8M sale of GeneFab manufacturing assets.The company achieved significant operational milestones, including receiving an $8M CIRM grant for SENTI-202 development and initiating the first patient dosing in SENTI-301A trials through Celest Therapeutics in China. Strategic partnerships and manufacturing agreements were restructured, including an amended agreement with GeneFab in December 2024.Despite progress in clinical development and operational restructuring, Senti Bio faces ongoing challenges including going concern uncertainty beyond 12 months and material weakness in internal controls. The company continues to advance its CAR-NK cell therapy pipeline while implementing enhanced corporate governance measures and cybersecurity risk management frameworks.
Senti Bio, a clinical-stage biotechnology company, reported FY2024 financial results with a net loss of $52.8M, representing a 25.7% improvement from $71.1M in 2023. Revenue decreased to $0 from $2.6M YoY, while operating expenses were reduced by 36% to $61.0M. The company ended the year with a cash position of $48.3M, bolstered by a $47.6M Series A preferred stock offering and the $37.8M sale of GeneFab manufacturing assets.The company achieved significant operational milestones, including receiving an $8M CIRM grant for SENTI-202 development and initiating the first patient dosing in SENTI-301A trials through Celest Therapeutics in China. Strategic partnerships and manufacturing agreements were restructured, including an amended agreement with GeneFab in December 2024.Despite progress in clinical development and operational restructuring, Senti Bio faces ongoing challenges including going concern uncertainty beyond 12 months and material weakness in internal controls. The company continues to advance its CAR-NK cell therapy pipeline while implementing enhanced corporate governance measures and cybersecurity risk management frameworks.
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