SANA Sana Biotechnology, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$2.89
· of 52w range
· above low
· to high
$2.6152w low
$6.5552w high
Market Cap (MRQ)
$865M
P/E
-3.0
EPS
$-0.96
your badges
52W Range
$3–$7
Analyst Rating
BUY
Price Target
$8
P/E
-3.0
ROE
-172.3%
Net Profit Margin
·
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SANA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.89
Market Cap (MRQ)
$865M
P/E
-3.0
EPS
$-0.96
ROE
-172.3%
52W Range
$3–$7
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About Sana Biotechnology, Inc. - Common Stock Company overview from Wikipedia
sectorHealthcare
industryBiotechnology
employees142
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
EPS$-0.962020-12-31 → 2025-12-31
Free Cash Flow$-145M2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SANA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -3.05Y avg ≈-3.7 | ≈-3.7 | · | · | |
| P/B (MRQ) | 5.65Y avg ≈3.3 | ≈3.3 | 4.7 | Overvalued | |
| Price / FCF (TTM) | -6.45Y avg ≈-4.9 | ≈-4.9 | · | · | |
| Price / Cash Flow (TTM) | -6.55Y avg ≈-5.3 | ≈-5.3 | · | · | |
| Price / Tangible Book (MRQ) | 9.15Y avg ≈6.1 | ≈6.1 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SANA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -53.2%5Y avg ≈-42.0% | ≈-42.0% | -35.0% | Weak | |
| ROE | -172.3%5Y avg ≈-90.7% | ≈-90.7% | -50.7% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | SANA | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.45Y avg ≈3.7 | ≈3.7 | 6.4 | Low liquidity | |
| Quick Ratio | 1.85Y avg ≈3.5 | ≈3.5 | 4.6 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-12.9%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-0.22 | $-0.15 | -47.9% |
| March 31, 2026 | May 13, 2026 | $-0.17 | $-0.17 | 1.7% |
| Dec. 31, 2025 | $-0.21 | $-0.14 | -55.0% | |
| Sept. 30, 2025 | $-0.16 | $-0.18 | 12.8% | |
| June 30, 2025 | $-0.21 | $-0.21 | 0.47% | |
| March 31, 2025 | $-0.21 | $-0.23 | 10.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $132M | $216M | $262M | $286M | $249M | $133M | |
| SG&A Expense | $44M | $64M | $73M | $72M | $50M | $28M | |
| Operating Expenses | $250M | $273M | $293M | $273M | $357M | $286M | |
| Operating Income | $-250M | $-273M | $-293M | $-273M | $-357M | $-286M | |
| Other Non-op | $2M | $-5M | $-52.0K | $-674.0K | $305.0K | $97.0K | |
| Pretax Income | · | · | · | · | $-356M | $-285M | |
| Income Tax | $0 | · | · | · | · | · | |
| Net Income | $-244M | $-267M | $-283M | $-269M | $-356M | $-285M | |
| EPS (Basic) | $-0.96 | $-1.16 | $-1.46 | $-1.43 | $-2.14 | $-21.92 | |
| EPS (Diluted) | $-0.96 | $-1.16 | $-1.46 | $-1.43 | $-2.14 | $-21.92 | |
| Shares (Basic) | 253,234,000 | 230,891,000 | 194,541,000 | 188,344,000 | 166,433,000 | 13,014,000 | |
| Shares (Diluted) | 253,234,000 | 230,891,000 | 194,541,000 | 188,344,000 | 166,433,000 | 13,014,000 | |
| EBITDA | $-250M | $-273M | $-293M | $-273M | $-357M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $72M | $128M | $134M | $177M | $253M | $125M | |
| Short-term Investments | $67M | $25M | $72M | $247M | $298M | $253M | |
| Prepaid Expense | $6M | $4M | $4M | $14M | $7M | $6M | |
| Current Assets | $149M | $161M | $214M | $444M | $558M | $384M | |
| PP&E (Net) | $27M | $77M | $71M | $67M | $65M | $47M | |
| PP&E (Gross) | $82M | $131M | $112M | $101M | $84M | $55M | |
| Accum. Depreciation | $55M | $54M | $42M | $34M | $19M | $8M | |
| Goodwill | $141M | $141M | $141M | $141M | $141M | $141M | |
| Intangibles | $59M | $59M | $59M | $59M | $59M | $59M | |
| Other Non-current Assets | $3M | $5M | $6M | $5M | $5M | $190.0K | |
| Total Assets | $417M | $501M | $565M | $823M | $1.13B | $730M | |
| Accounts Payable | $2M | $5M | $4M | $3M | $2M | $2M | |
| Current Liabilities | $79M | $45M | $64M | $112M | $99M | $31M | |
| Capital Leases | $64M | $82M | $91M | $96M | $102M | $68M | |
| Other Non-current Liabilities | $11M | $10M | · | · | · | $540.0K | |
| Total Liabilities | $256M | $251M | $278M | $323M | $401M | $299M | |
| Common Stock | $27.0K | $22.0K | $20.0K | $19.0K | $18.0K | $2.0K | |
| Paid-in Capital | $2.01B | $1.86B | $1.63B | $1.56B | $1.52B | $8M | |
| Retained Earnings | $-1.85B | $-1.60B | $-1.34B | $-1.05B | $-785M | $-429M | |
| AOCI | $28.0K | $14.0K | $-60.0K | $-4M | $-1M | $30.0K | |
| Stockholders' Equity | $161M | $251M | $288M | $499M | $729M | $-421M | |
| Liabilities + Equity | $417M | $501M | $565M | $823M | $1.13B | $730M | |
| Shares Outstanding | 266,732,000 | 223,923,000 | 197,857,000 | 191,022,000 | 184,929,000 | 16,170,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $25M | $38M | $36M | $38M | $22M | $6M | |
| Amort. of Intangibles | $0 | $0 | $0 | $0 | $0 | · | |
| Operating Cash Flow | $-144M | $-223M | $-254M | $-290M | $-251M | $-138M | |
| CapEx | $938.0K | $33M | $20M | $21M | $30M | $24M | |
| Investing Cash Flow | $-40M | $17M | $172M | $211M | $-246M | $-253M | |
| Stock Issued | $126M | $181M | $27M | $4M | $5M | · | |
| Net Stock Activity | $126M | · | $5M | $601.0K | · | · | |
| Financing Cash Flow | $129M | $200M | $32M | $5M | $632M | $436M | |
| Net Change in Cash | $-55M | $-6M | $-50M | $-75M | $135M | $45M | |
| Free Cash Flow | $-145M | $-257M | $-274M | $-311M | $-281M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -53.2% | -50.0% | -40.8% | -27.6% | -38.3% | · | |
| ROE | -172.3% | -98.3% | -86.7% | -50.6% | -45.7% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 3.5 | 3.3 | 4.0 | 5.6 | · | |
| Quick Ratio | 1.8 | 3.4 | 3.2 | 3.8 | 5.6 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.60 | $1.12 | $1.45 | $2.61 | $3.94 | · | |
| Cash Flow / Share | $-0.57 | $-0.97 | $-1.30 | $-1.54 | · | · | |
| Cash / Share | $0.27 | $0.57 | $0.67 | $0.93 | $1.37 | · | |
| EPS (TTM) | $-0.96 | $-1.16 | $-1.46 | $-1.43 | $-2.14 | $-21.92 |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-244M | $-267M | $-283M | $-269M | $-356M | $-285M | |
| Market Cap | $1.09B | $365M | $807M | $755M | $2.86B | · | |
| P/E | -4.2 | -1.4 | -2.8 | -2.8 | -7.2 | · | |
| P/B | 6.7 | 1.5 | 2.8 | 1.5 | 3.9 | · | |
| P / Tangible Book | · | 7.2 | 9.2 | 2.5 | 5.4 | · | |
| P / Cash Flow | -7.5 | -1.6 | -3.2 | -2.6 | -11.4 | · | |
| P / FCF | -7.5 | -1.4 | -3.0 | -2.4 | -10.2 | · | |
| Earnings Yield | -23.6% | -71.2% | -35.8% | -36.2% | -13.8% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $31M | $29M | $35M | $30M | $30M | $37M | $45M | $53M | $61M | $56M | $66M | $73M | $67M | $77M | $73M | $73M | |
| SG&A Expense | $11M | $11M | $12M | $10M | $10M | $11M | $17M | $14M | $16M | $16M | $19M | $17M | $17M | $16M | $18M | $14M | |
| Operating Expenses | $65M | $49M | $61M | $44M | $95M | $51M | $51M | $62M | $49M | $111M | $2M | $116M | $84M | $86M | $73M | $32M | |
| Operating Income | $-65M | $-49M | $-61M | $-44M | $-95M | $-51M | $-51M | $-62M | $-49M | $-111M | $-2M | $-116M | $-84M | $-86M | $-73M | $-32M | |
| Other Non-op | $656.0K | $453.0K | $1M | $360.0K | $598.0K | $249.0K | $141.0K | $-742.0K | $-4M | $215.0K | $303.0K | $-84.0K | $-47.0K | $-106.0K | $-198.0K | $-102.0K | |
| Net Income | $-64M | $-47M | $-59M | $-42M | $-94M | $-49M | $-49M | $-60M | $-50M | $-107M | $984.0K | $-114M | $-82M | $-85M | $-72M | $-31M | |
| EPS (Basic) | $-0.22 | $-0.17 | $-0.20 | $-0.16 | $-0.39 | $-0.21 | $-0.21 | $-0.25 | $-0.21 | $-0.49 | $0.00 | $-0.59 | $-0.43 | $-0.45 | $-0.39 | $-0.17 | |
| EPS (Diluted) | $-0.22 | $-0.17 | $-0.20 | $-0.16 | $-0.39 | $-0.21 | $-0.21 | $-0.25 | $-0.21 | $-0.49 | $0.00 | $-0.59 | $-0.43 | $-0.45 | $-0.39 | $-0.17 | |
| Shares (Basic) | 295,667,000 | 276,856,000 | · | 260,494,000 | 238,409,000 | 237,578,000 | · | 235,412,000 | 234,440,000 | 217,290,000 | 196,978,000 | 192,540,000 | 191,228,000 | 189,303,000 | 187,626,000 | 185,955,000 | |
| Shares (Diluted) | 295,667,000 | 276,856,000 | · | 260,494,000 | 238,409,000 | 237,578,000 | · | 235,412,000 | 234,440,000 | 217,290,000 | 200,473,000 | 192,540,000 | 191,228,000 | 189,303,000 | 187,626,000 | 185,955,000 | |
| EBITDA | · | $-49M | · | $-44M | $-95M | $-51M | · | $-62M | $-49M | $-111M | $-2M | $-116M | $-84M | $-86M | $-73M | $-32M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $57M | $84M | $72M | $103M | $71M | $96M | $128M | $127M | $135M | $177M | $168M | $174M | $160M | $163M | $195M | $189M | |
| Short-term Investments | $103M | $17M | $67M | $50M | $1M | $9M | $25M | $72M | $117M | $134M | $100M | $152M | $189M | $322M | $290M | $324M | |
| Prepaid Expense | $6M | $6M | $6M | $5M | $6M | $4M | $4M | $7M | $8M | $6M | $7M | $7M | $15M | $8M | $10M | $11M | |
| Current Assets | $171M | $112M | $149M | $162M | $83M | $113M | $161M | $210M | $263M | $321M | $280M | $339M | $370M | $500M | $494M | $523M | |
| PP&E (Net) | $25M | $26M | $27M | $30M | $33M | $74M | $77M | $83M | $86M | $82M | $68M | $63M | $64M | $67M | $68M | $69M | |
| PP&E (Gross) | $85M | $83M | $82M | $84M | $86M | $131M | $131M | $136M | $135M | $127M | $116M | $105M | $103M | $98M | $94M | $91M | |
| Accum. Depreciation | $59M | $57M | $55M | $54M | $53M | $57M | $54M | $53M | $49M | $46M | $47M | $43M | $38M | $30M | $26M | $22M | |
| Goodwill | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | $141M | |
| Intangibles | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | |
| Other Non-current Assets | $552.0K | $563.0K | $3M | $3M | $3M | $4M | $5M | $6M | $6M | $7M | $6M | $7M | $5M | $5M | $5M | $5M | |
| Total Assets | $432M | $374M | $417M | $435M | $362M | $445M | $501M | $559M | $619M | $681M | $631M | $707M | $747M | $898M | $971M | $1.05B | |
| Accounts Payable | $1M | $2M | $2M | $2M | $2M | $989.0K | $5M | $3M | $4M | $6M | $10M | $3M | $2M | $4M | $3M | $5M | |
| Current Liabilities | $124M | $86M | $79M | $36M | $33M | $33M | $45M | $47M | $51M | $53M | $67M | $112M | $103M | $115M | $97M | $94M | |
| Capital Leases | $59M | $60M | $64M | $68M | $72M | $78M | $82M | $85M | $89M | $93M | $83M | $100M | $102M | $100M | $103M | $103M | |
| Other Non-current Liabilities | $9M | $10M | $11M | $8M | $8M | $9M | $10M | $7M | $7M | · | · | · | · | · | · | · | |
| Total Liabilities | $277M | $254M | $256M | $240M | $239M | $236M | $251M | $267M | $279M | $306M | $266M | $352M | $319M | $332M | $332M | $346M | |
| Common Stock | $30.0K | $27.0K | $27.0K | $26.0K | $23.0K | $23.0K | $22.0K | $22.0K | $22.0K | $22.0K | $20.0K | $20.0K | $19.0K | $19.0K | $19.0K | $19.0K | |
| Paid-in Capital | $2.11B | $2.02B | $2.01B | $1.99B | $1.87B | $1.86B | $1.86B | $1.85B | $1.84B | $1.82B | $1.62B | $1.61B | $1.57B | $1.55B | $1.54B | $1.52B | |
| Retained Earnings | $-1.96B | $-1.90B | $-1.85B | $-1.79B | $-1.75B | $-1.65B | $-1.60B | $-1.56B | $-1.50B | $-1.45B | $-1.25B | $-1.25B | $-1.14B | $-974M | $-889M | $-817M | |
| AOCI | $-66.0K | $-2.0K | $28.0K | $21.0K | $0 | $0 | $14.0K | $54.0K | $-19.0K | $-15.0K | $-202.0K | $-865.0K | $-2M | $-6M | $-6M | $-5M | |
| Stockholders' Equity | $155M | $119M | $161M | $195M | $123M | $209M | $251M | $292M | $340M | $375M | $366M | $355M | $428M | $566M | $640M | $702M | |
| Liabilities + Equity | $432M | $374M | $417M | $435M | $362M | $445M | $501M | $559M | $619M | $681M | $631M | $707M | $747M | $898M | $971M | $1.05B | |
| Shares Outstanding | 299,306,000 | 269,817,000 | 266,732,000 | 262,264,000 | 230,510,000 | 225,463,000 | 223,923,000 | 223,108,000 | 222,209,000 | 221,286,000 | 197,064,000 | 196,880,000 | 191,409,000 | 189,885,000 | 188,430,000 | 186,632,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $5M | $6M | $6M | $5M | $7M | $7M | $6M | $11M | $11M | $9M | $9M | $10M | $9M | $10M | $10M | $8M | |
| Operating Cash Flow | $-33M | $-37M | $-33M | $-29M | $-33M | $-49M | $-47M | $-52M | $-59M | $-66M | $-64M | $-59M | $-79M | $-65M | $-71M | $-78M | |
| CapEx | $2M | $288.0K | $873.0K | $41.0K | $-112.0K | $136.0K | $436.0K | $4M | $13M | $16M | $2M | $2M | $2M | $4M | $4M | $8M | |
| Investing Cash Flow | $-88M | $49M | $-16M | $-48M | $8M | $17M | $47M | $42M | $6M | $-77M | $51M | $43M | $63M | $32M | $78M | $13M | |
| Stock Issued | · | · | $17M | $109M | · | · | $0 | $-29.0K | · | · | $192.0K | $2M | $236.0K | $897.0K | $2M | $652.0K | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | $236.0K | · | · | · | |
| Financing Cash Flow | $94M | $-128.0K | $18M | $110M | $561.0K | $982.0K | $643.0K | $2M | $11M | $186M | $187.0K | $30M | $236.0K | $2M | $2M | $652.0K | |
| Net Change in Cash | $-27M | $12M | $-31M | $32M | $-25M | $-31M | $570.0K | $-8M | $-42M | $44M | $-12M | $13M | $-16M | $-31M | $8M | $-65M | |
| Free Cash Flow | · | $-38M | · | · | · | $-49M | · | · | · | $-81M | · | · | $-81M | · | · | $-85M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | · | -11.5% | · | -8.5% | -19.1% | -8.8% | · | -10.1% | -7.6% | -15.0% | 0.13% | -13.6% | -9.2% | -8.0% | -6.5% | -2.7% | |
| ROE | · | -28.8% | · | -17.3% | -40.6% | -16.9% | · | -18.2% | -14.5% | -26.8% | 0.21% | -22.9% | -14.5% | -12.2% | -9.4% | -4.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 1.3 | · | 4.6 | 2.5 | 3.4 | · | 4.5 | 5.2 | 6.1 | 4.2 | 3.0 | 3.6 | 4.4 | 5.1 | 5.6 | |
| Quick Ratio | · | 1.2 | · | 4.3 | 2.2 | 3.2 | · | 4.2 | 5.0 | 5.9 | 4.0 | 2.9 | 3.4 | 4.2 | 5.0 | 5.5 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $0.44 | · | $0.74 | $0.53 | $0.93 | · | $1.31 | $1.53 | $1.70 | $1.86 | $1.80 | $2.24 | $2.98 | $3.39 | $3.76 | |
| Cash Flow / Share | · | $-0.14 | · | · | · | $-0.20 | · | · | · | $-0.30 | · | · | $-0.41 | · | · | · | |
| Cash / Share | · | $0.31 | · | $0.39 | $0.31 | $0.43 | · | $0.57 | $0.61 | $0.80 | $0.85 | $0.88 | $0.84 | $0.86 | $1.03 | $1.01 | |
| EPS (TTM) | $-0.94 | $-0.92 | · | $-0.97 | $-1.06 | $-0.88 | · | $-1.39 | $-1.14 | $-1.52 | $-1.44 | $-1.89 | $-1.69 | $-1.62 | $-1.63 | $-1.15 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-212M | $-242M | · | $-234M | $-252M | $-209M | · | $-306M | $-245M | $-309M | $-276M | $-362M | $-320M | $-300M | $-298M | $-207M | |
| Market Cap | · | $777M | · | $931M | $629M | $379M | · | $928M | $1.21B | $2.21B | $763M | $1.17B | $626M | $1.14B | $1.21B | $1.54B | |
| P/E | -3.7 | -3.1 | · | -3.7 | -2.6 | -1.9 | · | -3.0 | -4.8 | -6.6 | -2.7 | -3.2 | -1.9 | -3.7 | -3.9 | -7.2 | |
| P/B | · | 6.5 | · | 4.8 | 5.1 | 1.8 | · | 3.2 | 3.6 | 5.9 | 2.1 | 3.3 | 1.5 | 2.0 | 1.9 | 2.2 | |
| P / Tangible Book | · | · | · | · | · | 40.9 | · | 10.0 | 8.7 | 12.6 | 4.6 | 7.6 | 2.7 | 3.1 | 2.8 | 3.1 | |
| P / Cash Flow | · | -20.8 | · | · | · | -7.8 | · | · | · | -33.7 | · | · | -7.9 | · | · | -19.8 | |
| Earnings Yield | -26.9% | -31.9% | · | -27.3% | -38.8% | -52.4% | · | -33.4% | -20.9% | -15.2% | -37.2% | -31.7% | -51.7% | -27.0% | -25.4% | -13.9% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-244M | $-267M | $-283M | $-269M | $-356M |
| Diluted EPS | $-0.96 | $-1.16 | $-1.46 | $-1.43 | $-2.14 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.9 | 3.5 | 3.3 | 4.0 | 5.6 |
| Quick Ratio | 1.8 | 3.4 | 3.2 | 3.8 | 5.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-145M | $-257M | $-274M | $-311M | $-281M |
Institutional owners (13F) 228 filers · $688.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
228
Value held
$688.7M
New positions
33
Exited positions
21
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 33 (+1 vs prior Q) | 21 (-2 vs prior Q) | 68 (0 vs prior Q) | 66 (+8 vs prior Q) | +20.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $130,629,007 | 37,429,515 | 18.97% | Shares |
| Flagship Pioneering, LLC | $87,256,477 | 25,001,856 | 12.67% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $65,437,500 | 18,750,000 | 9.50% | Shares |
| BlackRock, Inc. | $58,196,354 | 16,675,173 | 8.45% | Shares |
| VANGUARD GROUP INC | $42,552,645 | 10,455,195 | 6.18% | Shares |
| STATE STREET CORP | $39,098,938 | 11,203,134 | 5.68% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $35,662,216 | 10,218,400 | 5.18% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $29,230,219 | 8,375,421 | 4.24% | Shares |
| BANK OF AMERICA CORP /DE/ | $20,062,105 | 5,748,454 | 2.91% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $16,329,082 | 4,677,959 | 2.37% | Shares |
| Marex Group Ltd | $13,921,959 | 3,989,100 | 2.02% | Shares |
| MARSHALL WACE, LLP | $10,230,711 | 2,931,436 | 1.49% | Shares |
| Alphabet Inc. | $9,815,625 | 2,812,500 | 1.43% | Shares |
| GOLDMAN SACHS GROUP INC | $8,264,094 | 2,367,935 | 1.20% | Shares |
| Integral Health Asset Management, LLC | $6,980,000 | 2,000,000 | 1.01% | Shares |
| TORONTO DOMINION BANK | $6,883,610 | 1,972,381 | 1.00% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,567,095 | 1,881,689 | 0.95% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $6,521,826 | 1,868,718 | 0.95% | Shares |
| NORTHERN TRUST CORP | $5,598,252 | 1,604,084 | 0.81% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $4,813,342 | 1,379,181 | 0.70% | Shares |
| Woodline Partners LP | $4,599,583 | 1,317,932 | 0.67% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,318,655 | 1,237,437 | 0.63% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,296,539 | 1,231,100 | 0.62% | Shares |
| MORGAN STANLEY | $3,977,839 | 1,139,782 | 0.58% | Shares |
| UBS Group AG | $3,704,429 | 1,061,441 | 0.54% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,361,383 | 963,147 | 0.49% | Shares |
| Omega Fund Management, LLC | $2,944,688 | 843,750 | 0.43% | Shares |
| JPMORGAN CHASE & CO | $2,681,678 | 777,298 | 0.39% | Shares |
| Crestline Management, L.P. | $2,637,619 | 755,736 | 0.38% | Shares |
| ArrowMark Colorado Holdings LLC | $2,391,086 | 685,125 | 0.35% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,280,725 | 653,503 | 0.33% | Shares |
| DEUTSCHE BANK AG\ | $2,251,353 | 645,087 | 0.33% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,229,541 | 638,837 | 0.32% | Shares |
| Corient Private Wealth LP | $2,192,069 | 628,100 | 0.32% | Shares |
| Point72 Asset Management, L.P. | $2,076,868 | 595,091 | 0.30% | Shares |
| Invesco Ltd. | $1,759,875 | 504,262 | 0.26% | Shares |
| Bank of New York Mellon Corp | $1,666,621 | 477,542 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,340,450 | 384,083 | 0.19% | Shares |
| Nuveen, LLC | $1,290,329 | 369,722 | 0.19% | Shares |
| Swiss National Bank | $1,214,869 | 348,100 | 0.18% | Shares |
| BAKER BROS. ADVISORS LP | $1,083,586 | 310,483 | 0.16% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,028,998 | 294,842 | 0.15% | Shares |
| CITIGROUP INC | $951,109 | 272,524 | 0.14% | Shares |
| TWO SIGMA ADVISERS, LP | $902,201 | 221,671 | 0.13% | Shares |
| XTX Topco Ltd | $790,799 | 226,590 | 0.11% | Shares |
| RHUMBLINE ADVISERS | $779,695 | 223,412 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $694,510 | 199,000 | 0.10% | Call option |
| Rafferty Asset Management, LLC | $686,591 | 196,731 | 0.10% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $674,557 | 193,283 | 0.10% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $667,313 | 231,706 | 0.10% | Shares |
Company insiders 22 insiders · 10 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steve Harr | President & CEO | March 7, 2026 M | 7,944,251 | 0 | 0 | $0 |
| Brian Piper | EVP, Chief Financial Officer | Feb. 17, 2026 A | · | 0 | 0 | $0 |
| Nathan Hardy | EVP, Chief Financial Officer | March 7, 2024 A | · | 0 | 0 | $0 |
| Dhavalkumar Dhirajlal Patel | EVP, Chief Scientific Officer | Aug. 26, 2026 M | 183,352 | 0 | 0 | $0 |
| Susan D. Wyrick | SVP, Finance and Accounting and Principal Accounting Officer | March 7, 2026 M | 196,196 | 0 | 0 | $0 |
| Bernard J Cassidy | EVP & General Counsel | March 7, 2025 M | 112,990 | 0 | 0 | $0 |
| Christian Hordo | EVP, Chief Business Officer | March 7, 2024 A | 867,455 | 0 | 0 | $0 |
| Douglas E Williams | EVP & President, R&D | March 7, 2024 A | · | 0 | 0 | $0 |
| James J. Macdonald | EVP & General Counsel | June 13, 2022 M | 497,396 | 0 | 0 | $0 |
| Sunil Agarwal | EVP, Head of Development & CMO | March 3, 2022 A | 1,550,000 | 0 | 0 | $0 |
| Hans Edgar Bishop | Director | July 6, 2026 A | 5,854,800 | 0 | 0 | $0 |
| Michelle Seitz | Director | June 4, 2026 A | · | 0 | 0 | $0 |
| Alise Reicin | Director | June 4, 2026 A | · | 0 | 0 | $0 |
| Robert L. Rosiello | Director | June 4, 2026 A | · | 0 | 0 | $0 |
| Joshua H. Bilenker | Director | June 4, 2026 A | 20,000 | 0 | 0 | $0 |
| Richard Mulligan | Director | June 4, 2026 A | 2,698,121 | 0 | 0 | $0 |
| Patrick Y Yang | Director | June 4, 2026 A | 149,250 | 0 | 0 | $0 |
| Robert Nelsen | Director | June 4, 2026 A | 12,446,022 | 0 | 0 | $0 |
| Mary Agnes Wilderotter | Director | June 5, 2025 A | 7,106 | 0 | 0 | $0 |
| Douglas G. Cole | Director | June 6, 2024 A | · | 0 | 0 | $0 |
| Geoffrey Von Maltzahn | Director | Feb. 3, 2021 A | 366,122 | 0 | 0 | $0 |
| FMR LLC | 10% owner | Jan. 8, 2025 S | 4,541,511 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 26 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.78% | 115,976 NS | July 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.15% | 240,493 NS | July 31, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.06% | 21,172 SH | Oct. 1, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.04% | 3,286 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.04% | 392,413 SH | Oct. 1, 2026 | Daily |
| IBB · iShares Trust | 0.04% | 1,388,372 SH | Sept. 11, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.04% | 196,803 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.04% | 1,718,279 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 1,056,163 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 4,720,089 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 87,720 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,941,879 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 521,984 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 28,058 SH | Sept. 11, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 80,330 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.00% | 10,383 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 22,436 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 110,952 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 256,132 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 50,195 SH | Sept. 9, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 12,291 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 6,251,644 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 13,302 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 8,018 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 21,821 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 429,504 SH | Sept. 11, 2026 | Daily |
SANA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$7.00
+142.2%
6 40.0%
Strong Buy
7 46.7%
Buy
2 13.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-09-30Mean target $8.43 +191.6%
← Below all targets
Current price $2.89
Low$6.00
Mean$8.43
High$12.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SANA | $1.09B | -4.2 | · | · | -172.3% | · |
| CRVS | $575M | -14.5 | · | · | -21.6% | · |
| JBIO | $761M | -4.8 | · | · | -47.7% | · |
| GLUE | $1.03B | · | 63.5% | -31.2% | -15.4% | · |
| RIGL | $784M | 2.2 | 64.1% | 124.7% | 155.1% | · |
| OBX | · | · | · | · | · | · |
| ARDX | $1.42B | -22.4 | 22.1% | -15.1% | -40.2% | · |
| AVTX | $336M | -3.1 | -86.6% | -132642.4% | -83.4% | · |
| ANNX | $750M | -3.7 | · | · | -100.7% | · |
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Source: SEC 10-Q filed Aug 10, 2026