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Goldman Sachs

June 10, 2026

Sana Biotechnology Annual Global Healthcare Conference Key Takeaways

Market ReportEquitiesHealth Care

Goldman Sachs recaps key investor conference takeaways for Sana Biotechnology, highlighting 2026 clinical milestones for its SG293 and SC451 programs. The company maintains a cash runway through mid-2027 to achieve key proof-of-concept readouts.

Key Takeaways

  • 1.Phase 1 study initiation for SG293 in non-Hodgkin lymphoma is expected in 2026, with potential for autoimmune expansion.
  • 2.Lead iPSC-derived SC451 therapy for T1D is in IND-enabling studies with a clinic transition planned for 2026.
  • 3.Management reports a pro-forma cash position of $195mn, providing runway into mid-2027.

Table of Contents

  • Key Takeaways
  • Valuation/Risks
  • Disclosure Appendix

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Authors

Salveen RichterMark AleynickElizabeth Webster, Ph.D.Matt Dellatorre, Ph.D.Tommie ReerinkShrunatra MishraLydia Erdman

Securities

SANA

Themes

In Vivo CAR-T TherapyType 1 Diabetes (T1D) Cell TherapyHypoimmune (HIP) Platform

Regions

GlobalUnited States