Sensei Biotherapeutics to implement 1-for-20 reverse stock split

BOSTON - Sensei Biotherapeutics, Inc. (NASDAQ:SNSE) announced on Friday that it will implement a 1-for-20 reverse stock split of its common stock, effective June 16, 2025, at 5:00 p.m. Eastern Time. The announcement comes as the company’s stock trades at $0.34, down nearly 50% over the past year, according to InvestingPro data.

The reverse stock split, approved by stockholders at the company’s Annual Meeting on May 21, aims to bring Sensei into compliance with Nasdaq Capital Market’s minimum bid price requirement for continued listing. While the company maintains a strong liquidity position with a current ratio of 6.82 and more cash than debt on its balance sheet, InvestingPro analysis indicates the company is rapidly burning through its cash reserves.

When markets open on Tuesday, June 17, the clinical-stage biotechnology company’s common stock will begin trading on a split-adjusted basis under the same "SNSE" symbol but with a new CUSIP number (81728A207).

The corporate action will automatically convert every 20 shares of issued and outstanding common stock into one share, reducing the total number of outstanding shares from approximately 25.2 million to 1.3 million. The number of authorized shares will decrease proportionally from 250 million to 12.5 million.

The split will also adjust conversion and exercise prices for outstanding stock options, restricted stock unit awards, and warrants, as well as the number of shares available under equity incentive plans.

Stockholders will not receive fractional shares but instead will be entitled to cash payments for fractional interests. Those holding shares electronically need not take action to receive post-split shares, while those owning shares through banks or brokers will have positions adjusted according to their respective processes.

Equiniti Trust Company, LLC is serving as the exchange agent and transfer agent for the reverse stock split.

Sensei Biotherapeutics focuses on developing next-generation cancer therapeutics, with its lead product candidate being solnerstotug, a conditionally active antibody targeting the VISTA checkpoint within tumor microenvironments. The clinical-stage biotech company currently shows an overall Financial Health score of 2.2 (FAIR) on InvestingPro, with analysts not expecting profitability this year. Subscribers can access 5 additional ProTips and detailed financial metrics to better understand the company’s outlook.

This article is based on information provided in a company press release.

In other recent news, Sensei Biotherapeutics has reported promising preliminary results from its Phase 1/2 clinical trial for solnerstotug, a monoclonal antibody targeting the V-domain Ig suppressor of T-cell activation (VISTA). The trial demonstrated a 14% overall response rate in patients resistant to standard PD-(L)1 inhibitors, with a durable complete response observed in a Merkel Cell Carcinoma patient. Additionally, partial responses were noted in another Merkel Cell Carcinoma patient and a microsatellite instability-high Colorectal Cancer patient. Sensei Biotherapeutics plans to initiate a Phase 2 study in early 2026. In other developments, the company’s shareholders approved key proposals during the annual meeting, including the election of two board directors and a reverse stock split. Meanwhile, H.C. Wainwright analysts have assumed a Buy rating on Sensei Biotherapeutics, setting a price target of $5.00, while reaffirming a $4.00 target in a separate note. These analyst endorsements reflect confidence in the company’s innovative approach and recent trial data.

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