Sana Biotechnology, Inc.
SANA · Biological Products, (No Diagnostic Substances) · 278.3M shares · +146%/yr ↑ dilution · EDGAR filings ↗
Reference price $6.11 · est. market cap ~$1.7B — last insider sale, 2025-01-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42Clinical/early-stage biotech — cell/gene-therapy clinical, heavy burn ($145M), thinner liquidity.
Strengths
- Liquidity — current ratio 1.9 (27th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Going concern• There is substantial doubt as to our ability to continue as a going concern
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-144.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +146%/yr over 3y (dilution, book value/share -98%)
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Key metrics
Return on equity
-151.8%
Return on assets
-58.6%
Current ratio
1.9×
Free cash flow
-$145M
Tangible book value
-$39M
Cash & investments
$138M
Cash runway
4q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-06 | Bishop Hans Edgar | Grant | 7.8K | — |
| 2026-03-09 | Wyrick Susan D. | Tax withheld | 3.3K | $3.13 |
| 2026-03-09 | Harr Steve | Tax withheld | 12K | $3.13 |
| 2026-03-09 | Harr Steve | Tax withheld | 13K | $3.10 |
| 2026-03-09 | Wyrick Susan D. | Tax withheld | 1.0K | $3.10 |
| 2026-03-07 | Wyrick Susan D. | Option exercise | 3.2K | — |
| 2026-03-07 | Harr Steve | Option exercise | 50K | — |
| 2026-03-06 | Harr Steve | Option exercise | 42K | — |
| 2026-03-06 | Wyrick Susan D. | Option exercise | 10K | — |
| 2026-03-03 | Wyrick Susan D. | Tax withheld | 491 | $3.91 |
| 2026-03-02 | Wyrick Susan D. | Option exercise | 1.5K | — |
| 2026-01-05 | Wyrick Susan D. | Tax withheld | 2.4K | $4.27 |
| 2026-01-05 | Bishop Hans Edgar | Grant | 6.2K | — |
| 2026-01-02 | Wyrick Susan D. | Option exercise | 7.5K | — |
| 2025-12-15 | Wyrick Susan D. | Tax withheld | 873 | $5.22 |
| 2025-12-13 | Wyrick Susan D. | Option exercise | 3.4K | — |
| 2025-12-04 | Wyrick Susan D. | Tax withheld | 2.6K | $4.44 |
| 2025-12-03 | Wyrick Susan D. | Option exercise | 10K | — |
| 2025-10-06 | Bishop Hans Edgar | Grant | 5.6K | — |
| 2025-07-07 | Bishop Hans Edgar | Grant | 7.8K | — |
| 2025-06-04 | Wyrick Susan D. | Tax withheld | 2.6K | $2.32 |
| 2025-06-03 | Wyrick Susan D. | Option exercise | 10K | — |
| 2025-04-07 | Bishop Hans Edgar | Grant | 16K | — |
| 2025-03-10 | Harr Steve | Tax withheld | 13K | $2.56 |
| 2025-03-10 | Wyrick Susan D. | Tax withheld | 836 | $2.56 |
| 2025-03-10 | Cassidy Bernard J | Tax withheld | 2.8K | $2.56 |
| 2025-03-07 | Harr Steve | Option exercise | 50K | — |
| 2025-03-07 | Wyrick Susan D. | Option exercise | 3.2K | — |
| 2025-03-07 | Cassidy Bernard J | Option exercise | 11K | — |
| 2025-03-03 | Wyrick Susan D. | Tax withheld | 490 | $2.56 |
| 2025-03-02 | Wyrick Susan D. | Option exercise | 1.5K | — |
| 2025-01-08 | FMR LLC | Sell | 25K | $6.50 |
| 2025-01-08 | FMR LLC | Sell | 1.0K | $7.26 |
| 2025-01-08 | FMR LLC | Sell | 165K | $6.71 |
| 2025-01-08 | FMR LLC | Sell | 100K | $6.11 |
| 2025-01-06 | Bishop Hans Edgar | Grant | 14K | — |
| 2025-01-02 | Wyrick Susan D. | Option exercise | 5.0K | — |
| 2025-01-02 | Wyrick Susan D. | Tax withheld | 1.6K | $1.65 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-05 | 2026-06-04 | 0001193125-26-259532 ↗ |
| 8-K | 2026-05-15 | 2026-05-15 | 0001193125-26-226674 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001193125-26-216758 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001193125-26-216769 ↗ |
| 8-K | 2026-04-24 | 2026-04-22 | 0001193125-26-174531 ↗ |
| 8-K | 2026-04-13 | 2026-04-10 | 0001193125-26-152868 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001193125-26-088215 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001193125-26-088203 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001193125-26-053294 ↗ |
| 8-K | 2026-01-14 | 2026-01-14 | 0001193125-26-012664 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001193125-25-269522 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-269569 ↗ |