Summary by Moomoo AI
Senti Biosciences, a clinical-stage biotechnology company, reported a net loss of $71.1 million for the year ended December 31, 2023, compared to a net loss of $58.2 million for the previous year. The company's cash, cash equivalents, and short-term investments totaled $35.9 million as of December 31, 2023, down from $98.6 million the previous year. Operating expenses for the year were $95.3 million, with research and development expenses accounting for $32.2 million. The company recognized a gain of $21.9 million from the disposal of its Alameda facility to GeneFab, which also resulted in a reduction of longer-term operating expenses. Senti Biosciences has not generated revenue from product sales and anticipates continued significant losses and increased expenses as it advances its gene circuit platform technologies and clinical development of product candidates. The company's future plans include focusing on the clinical development of SENTI-202 and partnering its SENTI-301A program in China with Celest. Senti Biosciences has raised concerns about its ability to continue as a going concern beyond the next twelve months without additional funding.