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Sana Biotechnology Sana Biotechnology Reports Third Quarter 2021 Financial Results and Business Updates November 8 , 2021 Announced license agreement for Beam's CRISPR Cas12b nuclease system for certain ex vivo engineered cell therapy programs Q3 2021 cash position of $ 866.1 million SEATTLE , Nov. 08 , 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 third quarter of 2021 . " We continue to make progress in building the company , progressing our pipeline , and growing our people and capabilities , " said Steve Harr , Sana's President and Chief Executive Officer . " The recent licensing of genome editing technology to enable multiple pipeline programs is an example of our continued focus on augmenting our innovative capacity . As our pipeline progresses , we look forward to presenting data from our in vivo CAR T and ex vivo allogeneic CAR T cell programs at the upcoming 63rd American Society of Hematology ( ASH ) Annual Meeting & Exposition in December . " Recent Corporate Highlights • Announced an agreement for non - exclusive commercial rights to Beam's CRISPR Cas12b nuclease system for certain ex vivo engineered cell therapy programs . Engineering cells for therapeutic applications requires technologies for precise editing of their genome sequence . We plan to use the technology with certain product candidates , including many of our allogeneic CART and pluripotent stem cell programs . Third Quarter 2021 Financial Results GAAP Results • Cash Position : Cash , cash equivalents , and marketable securities as of September 30 , 2021 were $ 866.1 million compared to $ 412.0 million as of December 31 , 2020 , an increase of $ 454.1 million . The increase was primarily driven by net proceeds of $ 626.4 million received in Sana's initial public offering in February 2021 , partially offset by cash used in operations of $ 141.0 million and cash used for the purchase of property and equipment of $ 24.7 million . • Research and Development Expenses : For the three and nine months ended September 30 , 2021 , research and development expense , inclusive of non - cash expenses , was $ 53.2 million and $ 140.2 million , respectively , compared to $ 40.1 million and $ 96.5 million , respectively , for the same periods in 2020. The increases of $ 13.1 million and $ 43.6 million , respectively , for the three and nine months ended September 30 , 2021 were due to an increase in personnel expenses related to increased headcount to expand Sana's research and development capabilities , costs for laboratory supplies , costs for preclinical studies and external manufacturing , and facility costs . Research and development expenses include non - cash stock - based compensation of $ 4.1 million and $ 9.9 million , respectively , for the three and nine months ended September 30 , 2021 and $ 1.0 million and $ 2.6 million , respectively , for the same periods in 2020 . • Research and Development Related Success Payments and Contingent Consideration : For the three and nine months ended September 30 , 2021 , we recognized non - cash expenses of $ 16.8 million and $ 67.8 million , respectively , in connection with the change in the estimated fair value of the success payment liabilities and contingent consideration , compared to $ 4.5 million and $ 57.3 million , respectively , for the same periods in 2020 . • General and Administrative Expenses : General and administrative expenses for the three and nine months ended September 30 , 2021 , inclusive of non - cash expenses , were $ 13.4 million and $ 37.7 million , respectively , compared to $ 7.1 million and $ 19.1 million , respectively , for the same periods in 2020. The increases of $ 6.3 million and $ 18.6 million , respectively , in the three and nine months ended September 30 , 2021 were primarily due to increased personnel - related expenses attributable to an increase in headcount to build our infrastructure , legal fees to support our patent portfolio and license arrangements , insurance associated with being a public company , consulting fees , and facility costs . General and administrative expenses include stock - based compensation of $ 1.9 million and $ 5.2 million , respectively , for the three and nine months ended September 30 , 2021 and $ 0.2 million and $ 0.5 million , respectively , for the same periods in 2020 .