Summary by Moomoo AI
On January 3, 2024, Senti Biosciences, Inc., a clinical-stage biotechnology company, announced a strategic restructuring plan approved by its Board of Directors. The plan focuses on streamlining operations to prioritize the development of SENTI-202, an investigational cell therapy for acute myeloid leukemia, and to support the clinical development of SENTI-301A for hepatocellular carcinoma in China in partnership with Celest Therapeutics. As part of the restructuring, Senti Biosciences will reduce its workforce by approximately 37%, expecting to extend its cash runway into the first quarter of 2025. The company anticipates incurring one-time severance costs of about $1 million in the first quarter of 2024. The press release issued on January 5, 2024, also highlighted the company's commitment to its Gene Circuit technology and the upcoming clinical milestones, including dosing the first patient with SENTI-202 in Q2 2024 and reporting initial efficacy data by the end of 2024. The company's CEO, Timothy Lu, expressed gratitude to the affected employees and emphasized the focus on clinical progress and partnerships.