Senti Biosciences Secures $40M Financing, Advances SENTI-202 Pivotal AML Trial

Senti Biosciences reported a net loss of $4.2 million, or $0.14 per share, in Q1 2026, compared with a $14.1 million loss, or $1.41 per share, in Q1 2025. Cash and cash equivalents declined to $8.9 million from $16.4 million, while R&D expenses fell to $5.3 million and G&A expenses to $6.2 million. Net cash used in operating activities was $7.5 million, down from $14.1 million a year earlier.

A Type B meeting with the FDA finalized the single-arm, multi-center pivotal trial design for SENTI-202 in relapsed/refractory AML, including chemistry, manufacturing and controls strategy. Positive regulatory input supports potential registrational submission following lymphodepletion chemotherapy in R/R AML patients.

In April 2026, the company entered a securities purchase agreement allowing issuance of up to $40 million in senior secured convertible notes across two tranches: an $10 million initial tranche expected to close in May and an optional $30 million tranche. Contingent value rights tied to regulatory and commercial milestones could provide up to $60 million additional value.

Amendments to the Alameda lease and related sublease arrangements yielded a $6.9 million gain and will substantially reduce future lease obligations. These measures, along with broader operational streamlining, contributed significantly to lower cash burn and operating expenses.