Senti Biosciences, Inc., a clinical-stage biotechnology company, reported net losses of $52.8 million for the year ended December 31, 2024, compared to $71.1 million in 2023. The company had $48.3 million in cash and cash equivalents at the end of 2024, down from $35.9 million at the end of 2023. Net cash used in operating activities was $41.4 million in 2024 and $52.4 million in 2023. The company generated no revenue from product sales in 2024, and $2.56 million in 2023, comprised of contract revenue and grant income.
Significant changes compared to the previous fiscal year include a $21.9 million gain on the disposal of its non-oncology business and manufacturing assets to GeneFab, LLC in 2023, resulting in $12.3 million in net income from discontinued operations that year. In 2024, the company initiated a Phase 1 clinical trial for its lead product candidate, SENTI-202, for blood cancers, and its partner, Celest Therapeutics, initiated a clinical trial for SN301A (incorporating Senti's SENTI-301A gene circuit) for solid tumors. The company also completed a private placement raising $47.6 million in December 2024.
Strategic developments included the August 2023 sale of manufacturing assets and sublease of its Alameda facility to GeneFab, allowing the company to focus on clinical development. A collaboration agreement with Celest Therapeutics for the development of SN301A in China was also announced in November 2023. The company also underwent a 1-for-10 reverse stock split in July 2024 and received an $8 million grant from the California Institute of Regenerative Medicines in August 2024. In January 2024, the company announced a strategic plan to focus resources on SENTI-202 and its partnership with Celest Therapeutics for SENTI-301A.
Key operational developments included the initiation of the SENTI-202 Phase 1 clinical trial in the U.S. and Australia in 2024, with initial data released in December 2024 showing two out of three AML patients achieving complete remission. The company also reported that Celest Therapeutics initiated a clinical trial for SN301A in China in late 2024. As of March 18, 2025, Senti Biosciences employed 34 full-time employees, 8 of whom hold Ph.D. or M.D. degrees. The company occupies approximately 40,000 square feet of office and R&D space in South San Francisco and subleased approximately 92,000 square feet of manufacturing space in Alameda to GeneFab.
The company's 10-K filing notes substantial doubt about its ability to continue as a going concern for the next twelve months, emphasizing the need for additional funding to support its operations and development plans. The filing also highlights various risks related to clinical trial outcomes, regulatory approvals, competition, intellectual property protection, manufacturing, and financial resources. The company's outlook is contingent upon successful clinical development, regulatory approvals, and securing additional funding.
About Senti Biosciences, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.