Microvast Holdings announces departure of chief financial officer
South San Francisco-based Senti Biosciences, Inc. (NASDAQ:SNTI), a micro-cap biotechnology company valued at $20 million specializing in biological products, announced the departure of its Interim Chief Financial Officer (CFO), Yvonne Li, effective as of January 31, 2025. The company faces significant financial challenges, with negative EBITDA of $53 million in the last twelve months. Following the expiration of her consulting agreement with the company, Li will no longer serve as the principal financial officer and principal accounting officer.
On Tuesday, Senti Biosciences entered into a new consulting agreement with Li. Under this agreement, Li will continue to work with the company in a consulting capacity to ensure a smooth transition of her responsibilities until March 31, 2025. Details of the new consulting agreement are expected to be disclosed in the company’s upcoming Quarterly Report on Form 10-Q for the fiscal quarter ending March 31, 2025. The transition comes as the company’s stock has shown significant volatility, though it has gained over 167% in the past six months.According to InvestingPro, the company faces several financial challenges, including rapid cash burn and significant debt burden. Subscribers can access 12 additional ProTips and detailed financial metrics.
This transition is part of the company’s ongoing efforts to manage its executive team and financial operations. Senti Biosciences has not yet announced a successor for the CFO position.
The information regarding these changes is based on a recent SEC filing by the company.
In other recent news, Senti Biosciences has secured an additional $10 million in investment from Celadon Partners, raising the total capital in the financing round to $47.6 million. This funding is earmarked for the development of their SENTI-202 program, a candidate for treating hematologic cancers, as well as scaling up manufacturing and other corporate purposes. In addition, Senti Bio received an extra $1.5 million from the California Institute for Regenerative Medicines (CIRM), bringing the total grant received to $6.4 million out of the $8 million awarded.
On the analysts’ front, Chardan Capital Markets has updated its outlook on Senti Biosciences, maintaining a buy rating but raising the price target to $12.00 from the previous $10.00. This adjustment follows promising initial data from the company’s phase I trial for SENTI-202, leading to increased confidence in the potential success of the treatment.
In other company developments, Senti Biosciences announced the appointment of Fran Schulz to its Board of Directors. Schulz, who brings extensive experience in finance and life sciences, will also chair the Board’s Audit Committee. These recent developments highlight the ongoing progress and strategic growth of Senti Biosciences.
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