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SOUTH SAN FRANCISCO, Calif. - Senti Biosciences, Inc. (NASDAQ:SNTI), a biotech firm specializing in cell and gene therapies with a market capitalization of $17.48 million, announced the appointment of Jay Cross as Chief Financial Officer and Faraz Siddiqui as Senior Vice President of Technical Operations. Cross is set to begin his role on March 3, 2025, while Siddiqui has been part of the company since January 2025. According to InvestingPro data, these appointments come at a crucial time as the company faces significant cash burn challenges.
Cross’s responsibilities will encompass the financial strategy and operations of the company, along with investor relations, to support Senti Bio’s growth and the clinical development of its therapeutic candidates, SENTI-202 and SENTI-301A. With a debt-to-equity ratio of 2.17 and a weak overall financial health score, these appointments are critical for the company’s future. Siddiqui will manage process development, manufacturing, and supply chain operations.
CEO Timothy Lu expressed enthusiasm for the new appointments, highlighting Cross’s financial expertise and Siddiqui’s operational leadership as critical for advancing Senti Bio’s clinical pipeline and preparing for large-scale product manufacturing beyond Phase 1 trials.
Cross has a distinguished background in finance, with significant roles at Sonnet BioTherapeutics and experience on Wall Street, including positions at Chardan and Goldman Sachs. Siddiqui brings over 27 years of biopharmaceutical experience from companies like IGM Biosciences (NASDAQ:IGMS), Instil Bio, and Genentech.
Senti Bio is focused on developing therapies using its Gene Circuit platform, which aims to enhance precision and control in cell and gene therapies. The company’s lead program, SENTI-202, has shown promising early clinical data in treating hematologic cancers. With the next earnings report due on March 21, 2025, InvestingPro subscribers can access 12 additional key insights about Senti Bio’s financial health and market performance. The stock has shown significant volatility, with a 33% gain over the past six months despite recent market challenges.
The information in this article is based on a press release statement from Senti Biosciences, Inc.
In other recent news, Senti Biosciences announced key developments that are likely to interest investors. The company secured an additional $10 million investment through a private placement equity financing from Celadon Partners, raising the total capital from this round to $47.6 million. This funding will support the development of the SENTI-202 program for hematologic cancers, as well as manufacturing and research activities. Additionally, Senti Bio received a $1.5 million grant from the California Institute for Regenerative Medicines, contributing to a total of $6.4 million of the $8 million initially awarded.
In personnel changes, Senti Biosciences’ Interim CFO Yvonne Li will transition to a consultant role until March 31, 2025, following the expiration of her current contract. The company has not yet announced a successor for the CFO position. In another executive update, Fran Schulz has been appointed to the Board of Directors and will chair the Audit Committee, bringing extensive financial and life sciences experience.
Chardan Capital Markets recently raised its price target for Senti Biosciences to $12.00 from $10.00, maintaining a Buy rating. This decision follows promising initial data from the company’s phase I trial for SENTI-202, which showed complete remission in patients with hematologic malignancies. The trial results have increased the probability of success for SENTI-202 to 35%, up from 25%, according to Chardan’s analysis.
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