Sana Biotechnology

Barclays PLC increased its stake in Sana Biotechnology by 126.6% in Q3, owning 318,910 shares. Other institutional investors also adjusted their positions in SANA. SANA stock opened at $1.61, with a market cap of $359.46M. Sana Biotechnology focuses on engineered cells for therapeutic areas.

Pomerantz LLP investigates Sana Biotechnology, Inc. for potential securities fraud. Sana's stock dropped after suspending two programs, aiming to reduce cash burn and focus investments.

Sana Biotechnology's stock dropped 17% in a week; insiders sold $236k in shares at $9.45, below current price. Insiders own 9.6% of the company, worth $35m, indicating alignment with smaller shareholders. Recent insider transactions are not encouraging.

State Street Corp increased its stake in Sana Biotechnology by 4.2% in Q3, owning 6,627,320 shares worth $27,570,000. Other institutional investors also adjusted their stakes, with hedge funds owning 88.23% of SANA. SANA stock opened at $1.65, with a market cap of $368.39M and a P/E ratio of -1.18. The company reported a narrower loss than expected for the quarter. Analysts have mixed ratings, and insider transactions were noted, with insiders owning 31.10% of the company.

Borealis Biosciences appoints Christian Hordo as CEO, raises $30M in Series A extension led by Westlake BioPartners, and adds three new board directors: David Allison, Ph.D., Tom Frohlich, and Catherine Thut, Ph.D. The company aims to develop RNA therapeutics for kidney diseases with $180M in capital.

Borealis, focusing on RNA therapeutics for kidney diseases, secured $180M in funding. Christian Hordo, new CEO, aims to advance RNA therapies. The company strengthens its board with experienced leaders, targeting breakthroughs in renal disease treatment.

Sana Biotechnology's shares hit a 52-week low at $1.8, with a 51.1% drop over the past year. Despite a Fair financial health rating, analyst targets suggest potential upside. The FDA granted Fast Track designation to Sana's SC291 therapy for systemic lupus erythematosus. The company is prioritizing Type 1 diabetes and B-cell driven autoimmune disease programs while seeking a licensing partner for deprioritized programs. CFO Nathan Hardy will step down in October 2024, and Dhaval Patel has been appointed as the new Executive Vice President and Chief Scientific Officer. Analyst ratings vary, with Citi increasing its price target to $15.00.

Sana Biotechnology, trading near 52-week low, focuses on engineered cells for Type 1 Diabetes and Autoimmune Diseases, with key data expected by 2025. Despite no revenues, its strong cash position and strategic pivot aim to extend its runway into 2026, crucial for advancing its pipeline amidst competitive cell therapy market.

Eby Friedman and Steve Goldman, University of Rochester faculty, were elected as fellows of the National Academy of Inventors, recognizing their prolific innovations impacting quality of life. Friedman is known for high-performance integrated circuit design, holding 25 US patents, while Goldman pioneers neurological therapies, holding 36 US patents, with both contributing to economic development and societal welfare.

Rocket Pharmaceuticals' AAV9 treatment shows good safety and efficacy in a 3-cohort trial. Updated efficacy data from phase 1/2 announced. Phase 2 to assess Hansa's imlifidase as pretreatment for Genethon's GNT-0003. Sana's SC291 CAR T-cell therapy targets lupus. Cartesian plans AURORA phase 3 trial in H1 next year.