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Senti Biosciences | 10-Q: Quarterly report

SEC announcement ·  May 10 05:04
Summary by Futu AI
Senti Biosciences, a biotechnology company specializing in gene circuit technologies, reported a net loss of $12.1 million for the first quarter of 2024, compared to a net loss of $18.7 million for the same period in 2023. The company's cash and cash equivalents stood at $23.7 million as of March 31, 2024, down from $35.9 million at the end of the previous year. Operating expenses for the quarter were $16.3 million, with research and development costs accounting for $8.8 million of that total. Senti Biosciences has entered into various agreements, including a collaboration with BlueRock Therapeutics and a transaction with GeneFab LLC, which provided the company with capital in the form of a note receivable and rights to future manufacturing and research activities. The company also subleased its Alameda...Show More
Senti Biosciences, a biotechnology company specializing in gene circuit technologies, reported a net loss of $12.1 million for the first quarter of 2024, compared to a net loss of $18.7 million for the same period in 2023. The company's cash and cash equivalents stood at $23.7 million as of March 31, 2024, down from $35.9 million at the end of the previous year. Operating expenses for the quarter were $16.3 million, with research and development costs accounting for $8.8 million of that total. Senti Biosciences has entered into various agreements, including a collaboration with BlueRock Therapeutics and a transaction with GeneFab LLC, which provided the company with capital in the form of a note receivable and rights to future manufacturing and research activities. The company also subleased its Alameda facility to GeneFab, generating $1.5 million in sublease income for the quarter. Looking ahead, Senti Biosciences plans to focus on advancing its gene circuit platform technologies, funding clinical development of its product candidates, and seeking regulatory approval for its therapies. The company anticipates increased expenses and operating losses as it continues to invest in its product pipeline and clinical trials.

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