TD Cowen analyst Marc Frahm has maintained their bullish stance on SANA stock, giving a Buy rating today.
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Marc Frahm has given his Buy rating due to a combination of factors that highlight Sana Biotechnology’s potential for future growth. The company has received positive feedback from an FDA INTERACT meeting regarding their progress in establishing a GMP master cell bank for SC451, which is a critical step towards filing an IND for their type 1 diabetes program. This development is seen as a significant de-risking factor for the program, especially given the robust durability data observed in the UP421 study.
Additionally, Sana is advancing its clinical trials, with the GLEAM and VIVID trials on track to present data in 2025. These trials could provide proof-of-concept data that might allow the company to either advance or monetize its allogeneic CAR programs, potentially extending its financial runway. Despite a reported net loss in Q2, Sana’s cash position and strategic focus on its T1D program present a promising investment case, contributing to the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $11.00 price target.