Sana Biotechnology EPS Miss, Shares Up 2.3%

Sana Biotechnology posted Q1 2026 loss of $0.17 per share, missing estimates, with no revenue and net loss of $47.2 million.
Shares rose 2.3% after-hours as the company announced a strategic Mayo Clinic partnership, including a $25 million equity investment and a $25 million option.
The collaboration targets SC451 stem‑cell pancreatic islet therapy for type‑1 diabetes, with IND filing and Phase 1 trial expected later this year.
Cash on hand fell to $101.1 million (pro‑forma $128.9 million including Mayo funds), giving runway into 2027; R&D spend dropped to $28.7 million YoY.