10-Q - Senti Biosciences, Inc. (0001854270) (Filer)
Thu, Nov 14, 9:56 PM (95 days ago)
Senti Biosciences, Inc. (SNTI) reported significant financial challenges for the quarter ending September 30, 2024. The company recorded no revenue, down from $338,000 the previous year, with total operating expenses decreasing to $15.2 million from $44.2 million, primarily due to a substantial reduction in impairment charges related to long-lived assets. The net loss from continuing operations was $28.9 million compared to $36.6 million in Q3 2023, while the accumulated deficit grew to $296.5 million. Key factors impacting financial health included a reliance on external contract manufacturing and research services, specifically with GeneFab, and ongoing preclinical and clinical development costs. Cash and cash equivalents decreased to $10.5 million from $35.9 million at year-end 2023. The company expressed substantial doubt about its ability to continue as a going concern, highlighting the need for additional funding to support operations and development efforts. Future operations may be affected by ongoing uncertainties in securing financing, the success of clinical trials, and the ability to navigate regulatory requirements, particularly for its lead candidate, SENTI-202. The company is actively pursuing collaborations and funding opportunities to mitigate these risks.