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Sana Biotechnology Sana Biotechnology Reports Second Quarter 2021 Financial Results and Business Updates August 4 , 2021 Presented data showing immune evasion and survival after transplantation of allogeneic cells into primates without immune suppression at ISSCR 2021 Entered long - term lease to establish manufacturing facility in San Francisco Bay Area Q2 2021 cash position of $ 930.8 million SEATTLE , Aug. 04 , 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 second quarter of 2021 . " We continue to be pleased with the progress across our in vivo and ex vivo technology platforms and programs as well as our progress in recruiting great people and building the infrastructure necessary to achieve our long - term vision of using engineered cells as medicines , " said Steve Harr , Sana's President and Chief Executive Officer . " In the second quarter , we presented data demonstrating the survival and immune evasion for transplanted hypoimmune cells into non - human primates without immunosuppression , an important step in enabling the use of engineered cells as medicines more broadly across multiple diseases . We also signed a long - term lease to enable the build out of a clinical trial and commercial manufacturing facility capable of supporting our broad pipeline . I would particularly like to thank the Sana team , who despite the ongoing complex operating environment of COVID continues to make progress in moving our product candidates forward , with a goal of beginning human studies for multiple medicines per year beginning as early as next year . " Recent Corporate Highlights • Presented data showing survival of transplanted stem cells in non - human primates without immunosuppression at a plenary session at the International Society for Stem Cell Research 2021 Virtual Annual Meeting . The transplanted cells incorporated Sana's hypoimmune gene modifications that enable immune evasion , demonstrating a key step toward widespread treatment of disease using engineered cells . • Announced a lease agreement to develop a 163,000 square foot manufacturing facility in Fremont , California to support the manufacture of late - stage clinical development and early commercial product candidates across our technology platforms . Second Quarter 2021 Financial Results GAAP Results • Cash Position : Cash , cash equivalents , and marketable securities as of June 30 , 2021 were $ 930.8 million compared to $ 412.0 million as of December 31 , 2020 , an increase of $ 518.8 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 : For the three and six months ended June 30 , 2021 , research and development expense , inclusive of non - cash expenses , was $ 45.0 million and $ 86.9 million , respectively , compared to $ 30.0 million and $ 56.4 million for the same periods in 2020. The increases of $ 15.0 million and $ 30.5 million for the three and six months ended June 30 , 2021 , respectively , were due to an increase in personnel expenses related to increased headcount to expand Sana's research and development capabilities , costs for preclinical studies , costs for laboratory supplies , and facility costs . Research and development expenses include non - cash stock - based compensation of $ 3.1 million and $ 5.8 million for the three and six months ended June 30 , 2021 , respectively , and $ 0.9 million and $ 1.6 million for the same periods in 2020 . • Research and Development Related Success Payments and Contingent Consideration : For the three and six months ended June 30 , 2021 , we recognized a gain of $ 76.0 million and an expense of $ 51.0 million , respectively , in connection with the change in the estimated fair value of the success payment liabilities and contingent consideration , compared to $ 51.9 million and $ 52.8 million for the same periods in 2020. For the three and six months ended June 30 , 2021 , we recognized a gain of $ 83.2 million and an expense of $ 32.4 million , respectively , in connection with the change in the