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Tuesday, H.C. Wainwright maintained a Buy rating and an $11.00 price target on Sana Biotechnology (NASDAQ:SANA) shares, representing significant upside potential from the current price of $2.77. The firm’s analyst, Emily Bodnar, reiterated the rating following Sana’s recent business update, which included promising preliminary 12-week clinical data from an ongoing trial for a type 1 diabetes treatment. According to InvestingPro data, analyst targets for SANA range from $5 to $15, with the stock currently trading below its Fair Value estimate.
On Monday, after the market closed, Sana Biotechnology reported its fourth-quarter and full-year 2024 earnings. With a market capitalization of $618 million, the company maintains a strong financial position, holding more cash than debt on its balance sheet. The company also provided a business update that highlighted positive preliminary results from a trial evaluating its allogeneic hypoimmune-modified pancreatic islet cells, known as UP421, at Uppsala University Hospital. This first-in-human trial is notable as it involves transplanting the cells without immunosuppression. InvestingPro subscribers can access detailed financial health metrics and 10 additional ProTips about SANA’s investment profile.
The company had previously reported four-week safety and efficacy data in January, demonstrating the cells’ ability to function and avoid immune detection, as indicated by stable C-peptide production, a biomarker for insulin production. The latest 12-week post-transplantation data revealed that C-peptide was still detectable and increased following a meal tolerance test, suggesting effective insulin secretion.
Further supporting the treatment’s potential, MRI imaging showed a consistent signal at the cell transplantation site, indicating long-term graft survival. The safety profile remained favorable, with no signs of inflammation or rejection. Sana plans to release more data from the study, including extended follow-up results, throughout the year in peer-reviewed publications and at scientific conferences.
The sustained safety and efficacy profile of UP421 bolsters confidence in Sana’s hypoimmune technology platform. These human trial results align with previous preclinical data and offer validation for the company’s approach to treating type 1 diabetes. The stock has shown strong momentum, with a 70% gain year-to-date, though investors should note its historically high price volatility. For comprehensive analysis of SANA’s potential, including detailed financial metrics and expert insights, explore the full research report available on InvestingPro.
In other recent news, Sana Biotechnology reported a narrower-than-expected loss for the fourth quarter of 2024. The company posted an adjusted loss of $0.23 per share, slightly better than analyst estimates of a $0.24 per share loss. Sana also highlighted positive preliminary 12-week clinical results from its ongoing type 1 diabetes study. The study showed that its hypoimmune-modified pancreatic islet cells are functioning and persisting with stable C-peptide production post-transplant. Sana ended the fourth quarter with a cash position of $152.5 million, which it anticipates will fund operations into 2026. Research and development expenses decreased to $47.0 million from $63.0 million in the same quarter last year. The company is currently enrolling patients in clinical trials for its SC291 and SC262 therapies, with data expected in 2025. Sana also plans to file investigational new drug applications for SC451 in type 1 diabetes and SG299 in B-cell related diseases as early as 2026.
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