Senti Biosciences, a biotechnology company specializing in gene circuit technologies for cell and gene therapies, reported a net loss of $28.9 million for the third quarter of 2024, compared to a net loss of $14.9 million for the same period in 2023. The company's net losses for the nine months ended September 30, 2024, were $52.2 million, slightly down from $52.3 million for the same period in 2023. As of September 30, 2024, Senti had cash and cash equivalents of $10.5 million, down from $35.9 million at the end of 2023, and an accumulated deficit of $296.5 million. Operating expenses for the quarter were $15.2 million, a significant decrease from $44.2 million in the previous year, primarily due to a reduction in impairment of long-lived assets. Research and development expenses for the quarter were $8.7 million...Show More

Senti Biosciences, a biotechnology company specializing in gene circuit technologies for cell and gene therapies, reported a net loss of $28.9 million for the third quarter of 2024, compared to a net loss of $14.9 million for the same period in 2023. The company's net losses for the nine months ended September 30, 2024, were $52.2 million, slightly down from $52.3 million for the same period in 2023. As of September 30, 2024, Senti had cash and cash equivalents of $10.5 million, down from $35.9 million at the end of 2023, and an accumulated deficit of $296.5 million. Operating expenses for the quarter were $15.2 million, a significant decrease from $44.2 million in the previous year, primarily due to a reduction in impairment of long-lived assets. Research and development expenses for the quarter were $8.7 million, slightly down from $9.1 million in Q3 2023. General and administrative expenses also decreased to $6.2 million from $9.4 million in the same quarter of the previous year. The company has not generated revenue from product sales as it is still in the clinical stage. Senti Biosciences has entered into various agreements, including a collaboration with Bayer Healthcare's subsidiary BlueRock, and a transaction with GeneFab, LLC, which provided capital and reduced operating expenses. The company also received a $2.5 million payment from the California Institute for Regenerative Medicine (CIRM) related to a milestone achieved for its lead product candidate, SENTI-202. Looking forward, Senti Biosciences plans to focus on advancing its gene circuit platform technologies, expanding its pipeline through partnerships, and seeking regulatory approval for its product candidates. However, the company acknowledges the need for substantial additional funding to support ongoing operations and development strategy.