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Sana issued a press release on November 4, 2024, announcing that it “will suspend development of both SC291 in oncology and of SC379, its glial progenitor cell program, as it seeks partnerships for these programs”. In the press release, Steve Harr, Sana’s President and Chief Executive Officer stated that “we need to ensure that we are directing our investments into the areas where we believe we can have the greatest impact for patients” and that “[t]his modified strategy will also help us reduce our cash burn but comes with the necessity of parting with some talented and valued colleagues.”
Following this news, Sana’s stock price fell over 9% on November 5, 2024.