SOUTH SAN FRANCISCO, Calif. - Senti Biosciences, Inc. (NASDAQ: SNTI), a biotechnology firm focused on developing cell and gene therapies with a current market capitalization of $19.73 million, announced today that it has garnered an additional $10 million in investment through a private placement equity financing from Celadon Partners. This increases the total capital raised in the financing round to $47.6 million. The company’s stock has shown strong momentum with a 22.51% gain year-to-date, according to InvestingPro data.
The company previously disclosed the private investment in public equity (PIPE) financing on December 2, 2024, which was spearheaded by Celadon Partners and included contributions from New Enterprise Associates, Leaps by Bayer (OTC:BAYRY), Nantahala Capital, The Red Hook Fund LP, and other investors. Leerink Partners served as the placement agent for the financing.
The funds from this round are earmarked for the development of Senti Bio’s SENTI-202 program, a candidate for treating hematologic cancers, as well as for scaling up manufacturing, other research and development activities, and general corporate purposes. InvestingPro analysis indicates the company is quickly burning through cash, with a weak overall Financial Health Score of 1.62, highlighting the importance of this capital raise.
In addition to the PIPE financing, Senti Bio received an extra $1.5 million from the California Institute for Regenerative Medicines (CIRM) on January 1, 2025. This grant, initially announced in June 2024, has now provided the company with $6.4 million of the $8 million awarded.
Senti Bio’s Gene Circuit platform is at the core of its strategy to create more precise and controlled therapies. Its leading program, SENTI-202, targets CD33 and/or FLT3 for hematologic cancers and has shown promise with complete remissions in initial clinical data as of September 19, 2024.
The securities sold in the PIPE financing have not been registered under the Securities Act of 1933 and are subject to a registration rights agreement that commits the company to file a registration statement with the SEC for the resale of the common stock issued in the financing.
This report is based solely on a press release statement and presents the facts without endorsement of claims. It is intended to provide investors with the latest financial developments concerning Senti Biosciences, Inc. For deeper insights into SNTI’s financial health, including 12 additional ProTips and comprehensive financial metrics, investors can access InvestingPro’s detailed analysis platform.
In other recent news, Senti Biosciences has been the focus of several significant developments. The company’s trial data has shown promising results, leading Chardan Capital Markets to raise its stock target from $10.00 to $12.00, and maintain a Buy rating. The analyst from Chardan Capital Markets expressed enhanced confidence in the potential success of the treatment, SENTI-202, increasing its probability of success to 35% from a previous estimate of 25%.
In addition to these promising trial results, Senti Biosciences has made changes to its board, appointing Schulz, a veteran of Ernst & Young, as a new board member and audit chair. This appointment coincides with the departure of Dr. Omid Farokhzad from the board. However, the company has also been flagged by Nasdaq for non-compliance with audit committee requirements, following the resignation of Susan Berland from the Board, leaving it with only two members.
Senti Biosciences has been granted a cure period to address this shortfall and regain compliance. The company has expressed its intent to fill the vacancy on the audit committee within this timeframe. These are all recent developments that have been disclosed in the company’s filings with the U.S. Securities and Exchange Commission.
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