Sana Biotechnology
Engineers immune-evading cells and in vivo CAR T therapies for diabetes and B-cell disease.
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Profile
Builds cell therapies on two proprietary platforms: hypoimmune (HIP) cells edited to evade immune rejection without immunosuppression, and a fusogen platform that generates CAR T cells inside the body. Founded in 2018 by former Juno Therapeutics executives, the pipeline has narrowed to two lead candidates in type 1 diabetes and B-cell disease.
Founded in 2018 by former Juno Therapeutics executives, the company builds therapies on two proprietary platforms: hypoimmune (HIP) cells edited to evade immune detection, enabling off-the-shelf allogeneic therapy without immunosuppression, and a fusogen platform that delivers genetic payloads to targeted cells in vivo, generating CAR T cells without ex-vivo manufacturing.
The active pipeline concentrates on two lead candidates: a hypoimmune, stem-cell-derived islet therapy for type 1 diabetes, alongside an investigator-sponsored trial using primary donor islet cells, and an in vivo CAR T candidate for B-cell disease. A broader early roster of allogeneic CAR T programs in oncology and autoimmune disease was suspended in successive rounds through 2024 and 2025.
Operations are based in Seattle, with research in Cambridge, Massachusetts. The company has no approved products and depends on clinical trial readouts, collaboration partnerships, and continued capital-markets access to fund development.
Company facts
Key statistics
Year to date −6.2% · Average volume (30d) 2.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Apr 14, 2026 | Wedbush | Reiterate | Outperform | $7 | ||
| Mar 13, 2026 | Morgan Stanley | Target | $12 | |||
| Mar 4, 2026 | H.C. Wainwright | Target | $8 | $7 | ||
| Oct 30, 2025 | JMP Securities | Target | $8 | |||
| Mar 18, 2025 | Citizens Capital Markets | Upgrade | Market Perform | Market Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.15 | −$0.22 | −49.8% | — | — | — | −0.53% |
| Aug 10, 2026Q2 FY26 | −$0.15 | −$0.13 | +11.5% | — | — | — | +4.99% |
| May 11, 2026Q1 FY26 | −$0.15 | −$0.14 | +6.7% | — | — | — | −8.43% |
| Mar 3, 2026Q4 FY25 | −$0.13 | −$0.16 | −23.1% | — | — | — | −2.80% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | $0 | −$2.4M | $0 | |
| Operating income | −$50.6M | −$95.0M | −$43.5M | −$61.2M | −$37.9M | −$65.4M | |
| Net income | −$49.4M | −$93.8M | −$42.2M | −$58.8M | −$47.2M | −$63.6M | |
| Diluted EPS | −$0.21 | −$0.39 | −$0.16 | −$0.20 | −$0.17 | −$0.22 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $160.5M · Total debt $73.7M · Total assets $431.5M · Shareholders' equity $154.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 278.29M · Float 173.74M · 62.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| ARCH Venture Fund IX, L.P. | 45.86M | 17.20% | 13G | Nov 14, 2025 |
| FMR LLC | 37.43M | 13.45% | 13F | Aug 13, 2026 |
| Flagship Pioneering Inc. | 25.00M | 8.98% | 13F | Aug 14, 2026 |
| Ra Capital Management, L.P. | 18.75M | 6.74% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 16.68M | 5.99% | 13F | Aug 7, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Vertex Pharmaceuticals
Most clinically advanced stem cell-derived islet therapy for type 1 diabetes
- Century Therapeutics
iPSC-derived allogeneic cell therapy for T1D and autoimmune/oncologic disease
- Cabaletta Bio
Autologous CD19 CAR T for autoimmune disease (lupus, myositis, sclerosis)
- Caribou Biosciences
CRISPR-edited allogeneic CAR-T developer advancing CD19 and BCMA cell therapies
- Allogene Therapeutics
Off-the-shelf allogeneic CAR T spanning oncology and autoimmune disease
- Fate
iPSC-derived off-the-shelf CAR T/NK for cancer and autoimmune disease
- CRISPR Therapeutics
First approved CRISPR therapy (Casgevy) plus allogeneic CAR T pipeline
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sana Biotechnology | $3.95 | +0.51% | $1.09B | — | — | — | — |
| Vertex Pharmaceuticals | $540.78 | −0.17% | $137.48B | 31.5 | 27.8 | 10.9 | +12.5% |
| Century Therapeutics | $2.03 | +0.25% | $175.3M | — | — | — | — |
| Cabaletta Bio | $3.18 | +2.25% | $508.7M | — | — | — | — |
| Caribou Biosciences | $1.65 | +2.17% | $160.7M | — | — | 16.0 | −43.8% |
| Allogene Therapeutics | $2.01 | −0.09% | $697.2M | — | — | 150.3 | — |
| Fate | $2.43 | +0.60% | $283.2M | — | — | 43.6 | +9.2% |
| CRISPR Therapeutics | $57.50 | −0.35% | $5.57B | — | — | 415.7 | +1,041.4% |
| Median | 31.5 | 27.8 | 43.6 | +10.8% |