Sana Biotechnology announces retirement of executive vice president and appointment of new chief legal officer

Sana Biotechnology, Inc. (NASDAQ:SANA), a $781 million market cap biotechnology company that has seen its stock surge 83% year-to-date according to InvestingPro data, announced Friday the planned retirement of Bernard J. Cassidy from his roles as executive vice president, general counsel, and corporate secretary. According to a statement based on a recent SEC filing, Mr. Cassidy’s retirement is expected to be effective on October 20, 2025, immediately prior to the start date of his successor.

The company reported that Mr. Cassidy’s decision to retire is voluntary and for personal reasons. Sana Biotechnology stated that the retirement is not due to any disagreement with the company regarding its operations, policies, or practices. Following his retirement, Mr. Cassidy is expected to provide transition-related services to the company.

In connection with this leadership change, Sana Biotechnology has entered into an offer letter with Aaron M. Grossman, who is expected to join as executive vice president and chief legal officer, effective October 20, 2025.

The information in this article is based on a press release statement and details from the company’s current report on Form 8-K filed with the Securities and Exchange Commission.

In other recent news, Sana Biotechnology has announced its second quarter 2025 financial results alongside corporate updates. JMP Securities has reiterated its Market Outperform rating with a $5.00 price target, highlighting significant six-month clinical results from Sana’s ongoing UP421 type 1 diabetes study. Additionally, Sana Biotechnology has launched a public offering, pricing 20,895,522 shares of common stock at $3.35 per share, along with pre-funded warrants for 1,492,537 shares at $3.3499 per warrant, expecting to raise approximately $75.0 million in gross proceeds. The company has also granted underwriters a 30-day option to purchase an additional $11.25 million of common shares. Morgan Stanley has initiated coverage on Sana Biotechnology with an Overweight rating and a $12.00 price target, noting the potential of Sana’s platform to develop differentiated therapies. These developments reflect the company’s ongoing strategic and financial activities.

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