Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.17, beating the estimate of USD -0.1725.

EBIT: As of FY2026 Q1, the actual value is USD -49.57 M.

Sana Biotechnology, Inc. operates as a single segment, and its financial and operational metrics for the three months ended March 31 are as follows:

Operational Performance

• Net Loss: The company reported a net loss of - $47.2 million in 2026, an improvement from a net loss of - $49.4 million in 2025 .
• Total Operating Expenses: Total operating expenses decreased to $48.6 million in 2026 from $50.6 million in 2025 .
  • Research and Development (R&D) Expenses: R&D expenses were $28.7 million in 2026, down from $37.2 million in 2025 . This $8.5 million decrease was primarily driven by a - $4.7 million reduction in personnel-related expenses, a - $2.2 million decrease in third-party manufacturing costs, and a - $2.1 million decrease in facility and other allocated costs .
  • R&D Related Success Payments and Contingent Consideration: Expenses in this category significantly increased to $8.4 million in 2026 from $2.0 million in 2025 . This change included a - $1.8 million gain related to the Cobalt Success Payment, a - $0.5 million gain for Harvard Success Payments, and a $10.7 million expense for contingent consideration .
  • General and Administrative (G&A) Expenses: G&A expenses remained relatively flat at $11.5 million in 2026 compared to $11.5 million in 2025 .
• Interest Income, Net: Net interest income was $1.0 million in both 2026 and 2025 .
• Other Income, Net: Other income increased to $0.5 million in 2026 from $0.2 million in 2025 .

Cash Flow

• Net Cash Used in Operating Activities: The company used - $37.4 million in operating activities in 2026, an improvement from - $48.7 million in 2025 .
• Net Cash Provided by Investing Activities: Investing activities provided $49.4 million in cash in 2026, significantly up from $16.6 million in 2025, primarily due to net purchases and maturities of marketable securities .
• Net Cash Used in Financing Activities: Financing activities resulted in - $0.1 million cash used in 2026, compared to $1.0 million cash provided in 2025 .

Liquidity and Capital Resources

• Cash, Cash Equivalents, and Marketable Securities: As of March 31, 2026, Sana Biotechnology, Inc. had $101.1 million in cash, cash equivalents, and marketable securities .
• Accumulated Deficit: The company reported an accumulated deficit of - $1.9 billion as of March 31, 2026 .

Outlook and Strategy

Sana Biotechnology, Inc. is focusing its resources on advancing key therapeutics, including SC451, SG293, and SG227, with plans to file an IND and initiate a Phase 1 clinical trial for SC451, expect initial clinical data for SG293 this year, and project clinical testing for SG227 by mid-2027 . Management has expressed substantial doubt about its ability to continue as a going concern for at least one year from March 31, 2026 . To address this, the company plans to secure additional funding through equity or debt offerings or strategic collaborations .