Sana Biotechnology Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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Sep 30, 2024 · Filed Nov 8, 2024
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Item 5. Other Information
(a)
On November 4, 2024, we announced a strategic repositioning to prioritize clinical and preclinical development in type 1 diabetes, B-cell mediated autoimmune diseases, refractory B-cell malignancies, and the fusogen platform for generatingin vivo CAR T cells. We will suspend development of SC291, our HIP-modified CD19 allogeneic CAR T therapy, in oncology and SC379, our glial progenitor cell program, as we seek partnerships for these programs. The strategic repositioning resulted in a workforce reduction of approximately 45%. We anticipate that the portfolio update and associated reduction in force will be substantially complete in the first quarter of 2025.
In connection with the strategic repositioning, we anticipate we will incur approximately $5.0 million and $1.4 million of cash-based expenses related to employee severance, benefits, and related costs in the fourth quarter of 2024 and the first quarter of 2025, respectively. We will file a Current Report on Form 8-K if amounts differ materially from these estimates.
(b)
(c)
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