Wedbush analyst Martin Fan raised the firm’s price target on Sana Biotechnology (SANA) to $7 from $6 and keeps an Outperform rating on the shares. The firm notes Sana announced a collaboration with the Mayo Clinic to develop protocols and processes for type 1 diabetes candidate SC451, with a concurrent investment of up to $50M. The Mayo Clinic will initially purchase 7.5M shares for gross proceeds of $25M, and will have an option to purchase an additional 7.5M shares before August 31, 2026. Sana expects cash runway will extend into 2027 based on the initial $25M investment, adds Wedbush.
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