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Sana Biotechnology Sana Biotechnology Reports First Quarter 2021 Financial Results and Business Updates May 5 , 2021 Presented key proof of concept data for multiple platforms at AACR 2021 Q1 2021 cash position of $ 981.9 million SEATTLE , May 05 , 2021 ( GLOBE NEWSWIRE ) -- Sana Biotechnology , Inc. ( NASDAQ : SANA ) , a company focused on creating and delivering engineered cells as medicines , today reported financial results and business highlights for the first quarter of 2021 . " We continue to make progress across our platforms and pipeline , targeting a broad set of diseases , " said Steve Harr , Sana's President and Chief Executive Officer . " In the first quarter , we bolstered our balance sheet , continued to build our capabilities , and moved forward our science . We recently presented scientific data at a medical conference for the first time , highlighting the potential of both our in vivo delivery platform and our ex vivo hypoimmune platform to make innovative CAR T therapies for cancer patients . We look forward to presenting more scientific data and progress updates from our various pipeline programs at conferences this year . " Recent Corporate Scientific Highlights • Presented proof of concept animal studies from the in vivo fusogen T cell and ex vivo hypoimmune allogeneic T cell programs at the American Association for Cancer Research Annual Meeting 2021 , highlighting the platforms ' ability to make potentially differentiated CAR T cells . • A single intravenous dose of targeted fusosomes enables specific delivery of a CD19 CAR transgene to CD8 + T cells , creating CAR T cells in vivo , that show a dose - dependent anti - tumor response regardless of prior T cell activation status . • Hypoimmunogenic CAR T cells show the ability to functionally evade the innate and adaptive immune system in allogeneic recipients and demonstrate tumor killing , potentially leading to universal CAR T cells that can persist without immunosuppression . First Quarter 2021 Financial Results GAAP Results • Cash Position : Cash , cash equivalents , and marketable securities as of March 31 , 2021 were $ 981.9 million compared to $ 412.0 million as of December 31 , 2020 , an increase of $ 569.9 million . Sana successfully completed its initial public offering in February 2021 and issued 27.0 million shares of common stock , including 3.5 million shares pursuant to the full exercise of the underwriters ' option to purchase additional shares , at a price of $ 25.00 per share , for net proceeds of $ 626.4 million . • Research and Development Expenses : Research and development expenses for the three months ended March 31 , 2021 , inclusive of non - cash expenses , were $ 168.9 million compared to $ 27.3 million for the three months ended March 31 , 2020. The increase of $ 141.6 million was primarily due to non - cash expenses for the increase in the estimated fair value of the success payment liabilities in aggregate and contingent consideration of $ 115.7 million and $ 11.4 million , respectively . The increase was also due to personnel - related expenses related to increased headcount to expand Sana's research and development capabilities , costs for preclinical studies , laboratory supplies , and facility costs . Research and development expenses include stock - based compensation of $ 2.5 million for the three months ended March 31 , 2021 and $ 0.6 million for the three months ended March 31 , 2020 . • General and Administrative Expenses : General and administrative expenses for the three months ended March 31 , 2021 , inclusive of non - cash expenses , were $ 11.8 million compared to $ 6.0 million for the three months ended March 31 , 2020. The increases of $ 5.8 million was primarily due to increased personnel - related expenses attributable to an increase in headcount to build our infrastructure , consulting and legal fees , insurance associated with being a public company , and facility costs . General and administrative expenses include stock - based compensation of $ 1.5 million for the three months ended March 31 , 2021 and $ 0.1 million for the three months ended March 31 , 2020 .