Sana Biotechnology (SANA)
Engineers immune-evading cells and in vivo CAR T therapies for diabetes and B-cell disease.
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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
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Apr 14, 2026 | Wedbush | Reiterate | Rating: —Target: — | Target: $7 |
| Mar 13, 2026 | Morgan Stanley | Target | Target: — | Target: $12 |
| Mar 4, 2026 | H.C. Wainwright | Target | Target: $8 | Target: $7 |
| Oct 30, 2025 | JMP Securities | Target | Target: — | Target: $8 |
| Mar 18, 2025 | Citizens Capital Markets | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $160.5M · Total debt $73.7M · Total assets $431.5M · Shareholders' equity $154.6M
- Revenue
- $0
- Operating income
- −$65.4M
- Net income
- −$63.6M
No dividends on record.
| Institutions | 62.19% | 186.16M shares | |
|---|---|---|---|
| 219 holders · as of Jun 30, 2026 | |||
| Insiders | 3.72% | 11.13M shares | |
| 5 holders · as of Aug 27, 2026 | |||
| Other | 34.09% | 102.07M shares | |
| remainder | |||
299.36M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
ARCH Venture Fund IX, L.P.Institution | 15.32% | 45.86M | filed Nov 14, 2025 |
FMR LLCInstitution | 12.50% | 37.43M | as of Jun 30, 2026 |
Flagship Pioneering Inc.Institution | 8.35% | 25.00M | as of Jun 30, 2026 |
Ra Capital Management, L.P.Institution | 6.26% | 18.75M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.57% | 16.68M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sana Biotechnology | $3.11 | −6.76% | $926.7M | — | — | — | — |
| Vertex Pharmaceuticals | $509.98 | −0.97% | $130.71B | 30.0 | 26.5 | 10.4 | +12.5% |
| Century Therapeutics | $1.81 | −4.23% | $163.6M | — | — | — | — |
| Cabaletta Bio | $2.22 | −11.20% | $407.6M | — | — | — | — |
| Caribou Biosciences | $1.31 | −2.28% | $132.9M | — | — | 13.2 | −43.8% |
| Allogene Therapeutics | $1.68 | −2.05% | $590.2M | — | — | 127.2 | — |
| Fate | $2.44 | −5.62% | $300.7M | — | — | 46.3 | +9.2% |
| CRISPR Therapeutics | $56.25 | −4.71% | $5.69B | — | — | 425.1 | +1,041.4% |
| Median | 30.0 | 26.5 | 46.3 | +10.8% |