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Investing.com -- Sana Biotechnology Inc (NASDAQ:SANA) stock surged 20% Wednesday after EMJ Capital Eric Jackson declared the company could become "the next 100-bagger platform" in a series of posts on social media platform X.
Jackson, who previously spurred the dramatic rise in Opendoor Technologies this summer, highlighted Sana’s breakthrough in Type 1 Diabetes treatment, where a patient produced insulin following a single injection without requiring immunosuppression drugs. He emphasized this represented the first human proof that Sana’s "hypoimmune" cells can evade immune detection while functioning normally.
"This will work for patients. All the boxes have been checked," Jackson quoted SANA CEO Steve Harr as saying at a recent Goldman Sachs fireside chat, adding that the only remaining challenges are "capital, safety, and scale."
The investor outlined a potential path to a $100 billion valuation, calculating that if Sana’s therapy reaches just 10% of the global Type 1 Diabetes population at $100,000 per patient, it could generate $90 billion in revenue. He suggested even 100,000 patients annually would yield $10 billion in sales.
Jackson noted that Sana has approximately $143 million in cash following its August fundraising, providing runway into 2026. The company plans to focus spending on its diabetes program while partnering or spinning out other initiatives.
The stock’s rise comes amid what Jackson described as biotech’s reawakening in a more favorable rate environment, with the XBI biotech index recovering to 105, midway between its 2021 peak and 2023 low. He also pointed to high short interest in Sana, approximately 20% of the float, suggesting potential for further upward momentum if shorts begin covering positions.