BOSTON, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Sensei Biotherapeutics, Inc. (Nasdaq: SNSE), a clinical stage biotechnology company focused on the discovery and development of next-generation therapeutics for cancer patients, today reported financial results for the third quarter 2025.
On October 30, 2025, the Company announced that its Board of Directors determined, after extensive consideration of the Company's development pipeline and current market conditions, to discontinue development of solnerstotug and initiate a comprehensive review of strategic alternatives aimed at maximizing shareholder value. The Company is exploring a range of strategic alternatives that may include, among other options, a sale of assets, licensing arrangements, collaborations, a sale of the Company, a business combination, a merger, or an orderly wind-down of operations.
In connection with this strategic review, the Company has implemented a workforce reduction to preserve cash, reducing its workforce by approximately 65 percent. The Company is retaining a small team of employees to assist in exploring strategic alternatives, maintaining compliance with regulatory and financial reporting requirements, and managing the orderly cessation of development activities.
Third Quarter 2025 Financial Results
Cash Position: Cash, cash equivalents and marketable securities were $25.0 million as of September 30, 2025, as compared to $41.3 million as of December 31, 2024.
Research and Development (R&D) Expenses: R&D expenses were $2.5 million for the quarter ended September 30, 2025, compared to $4.6 million for the quarter ended September 30, 2024. The decrease in R&D expenses was primarily attributable to lower personnel and facilities costs, and reduced lab supply costs.
General and Administrative (G&A) Expenses: G&A expenses were $2.3 million for the quarter ended September 30, 2025, compared to $3.2 million for the quarter ended September 30, 2024. The decrease in G&A expense was primarily attributable to lower personnel costs.
Net Loss: Net loss was $4.6 million for the quarter ended September 30, 2025, compared to $7.3 million for the quarter ended September 30, 2024.
About Sensei Biotherapeutics
Sensei Biotherapeutics (Nasdaq: SNSE) is a clinical stage biotechnology company focused on the discovery and development of next-generation therapeutics for cancer patients. Through its TMAb$(TM)$ (Tumor Microenvironment Activated biologics) platform, Sensei develops conditionally active therapeutics designed to disable immunosuppressive signals or activate immunostimulatory signals selectively in the tumor microenvironment to unleash T cells against tumors. Sensei's lead product candidate is solnerstotug, a conditionally active antibody designed to block the V-domain Ig suppressor of T cell activation (VISTA) checkpoint selectively within the low pH tumor microenvironment, where VISTA acts as a suppressor of T cells by binding the receptor PSGL-1. For more information, please visit www.senseibio.com, and follow the company on X @SenseiBio and LinkedIn.
Condensed Statements of Operations
(Unaudited, in thousands except share and per share
data)
Three Months Ended September 30,
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2025 2024
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Operating expenses:
Research and development $ 2,536 $ 4,637
General and administrative 2,315 3,186
Total operating expenses 4,851 7,823
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Loss from operations (4,851) (7,823)
Total other income 282 570
-------------- -------------
Net loss $ (4,569) (7,253)
Net loss attributable to common
stockholders (4,569) (7,253)
============== =============
Net loss per share, basic
and diluted $ (3.62) $ (5.77)
============== =============
Weighted-average common
shares outstanding, basic
and diluted 1,261,290 1,257,299
============== =============
Selected Condensed Balance Sheet Data
(Unaudited, in thousands)
September 30, 2025 December 31, 2024
-------------------- -------------------
Cash and cash equivalents $ 10,562 $ 9,994
Marketable securities 14,479 31,341
Total assets 27,589 45,361
Total liabilities 4,582 6,975
Total stockholders' equity 23,007 38,386
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words and phrases such as "believe", "designed to," "expect", "may", "plan", "potential", "will", and similar expressions, and are based on Sensei's current beliefs and expectations. These forward-looking statements include Sensei's discontinued development of solnerstotug and review of strategic alternatives aimed at maximizing shareholder value and related workforce reduction. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the risks relating to volatility and uncertainty in the capital markets for biotechnology companies; availability of suitable third parties with which to conduct contemplated strategic alternatives; whether Sensei will be able to pursue a strategic transaction, or whether any transaction, if pursued, will be completed on attractive terms or at all; changes in expected or existing competition; changes in the regulatory environment; and unexpected litigation or other disputes; and other risks and uncertainties that are described in Sensei's Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) on November 14, 2025 and Sensei's other Periodic Reports filed with the SEC. Any forward-looking statements speak only as of the date of this press release and are based on information available to Sensei as of the date of this release, and Sensei assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor and Media Contact:
Joyce Allaire
LifeSci Advisors
Jallaire@lifesciadvisors.com
(END) Dow Jones Newswires
November 14, 2025 07:30 ET (12:30 GMT)