Sana Biotechnology

Q2 FY2026 EarningsQ2 FY2026 results missed GAAP EPS consensus ($0.22 loss vs. $0.1488 expected) but outperformed on a Non-GAAP normalized basis ($0.13 loss vs. $0.1205 expected). Revenue remained at zero, in-line with expectations for this clinical-stage biotech. The primary variance was driven by a $23.9M non-cash charge related to the fair value adjustment of success payment liabilities and contingent consideration. Management extended the cash runway into mid-2027 following $93.3M in capital raises, including a strategic $25M investment from Mayo Clinic.