Sensei Biotherapeutics, Inc., a clinical-stage biotechnology company focused on developing next-generation cancer therapeutics, reported a net loss of $30.2 million for the year ended December 31, 2024, compared to a net loss of $34.1 million for the previous year. The company’s accumulated deficit reached $262.1 million as of the end of 2024. Total operating expenses decreased to $32.6 million from $37.1 million in 2023, primarily due to a reduction in general and administrative expenses following a significant workforce reduction of approximately 46% in November 2024. Research and development expenses slightly increased to $18.6 million, driven by higher clinical trial costs.
In terms of operational developments, Sensei Biotherapeutics is advancing its lead product candidate, solnerstotug, which targets the immune checkpoint VISTA. The company initiated a Phase 1/2 clinical trial in May 2023, with a total of 94 patients dosed by March 17, 2025. The trial aims to evaluate solnerstotug's safety and efficacy, both as a monotherapy and in combination with cemiplimab. Preliminary data from the trial indicated a 14% objective response rate among evaluable patients with "hot" tumors resistant to PD-(L)1 therapies, while no responses were observed in patients with microsatellite stable colorectal cancer, consistent with prior findings in this tumor type.
Strategically, the company has streamlined its operations to focus resources on solnerstotug, pausing the development of other preclinical candidates, including SNS-102, SNS-103, and SNS-201. This restructuring is expected to allow the company to fund its operations into the second quarter of 2026, contingent upon raising additional capital. Sensei Biotherapeutics has also entered into a supply agreement with Regeneron Pharmaceuticals for cemiplimab, which is being used in the ongoing clinical trial.
Looking ahead, Sensei Biotherapeutics plans to initiate a Phase 2 trial of solnerstotug in the first quarter of 2026, pending sufficient capital. The company continues to evaluate its financial resources and aims to optimize its clinical trial designs based on ongoing results. Despite the challenges of operating in a competitive biopharmaceutical landscape, the company remains focused on leveraging its TMAb platform to develop innovative cancer therapies.
About Sensei Biotherapeutics, Inc.
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