\nSensei Biotherapeutics, Inc. (Nasdaq: SNSE) today reported financial results for the first quarter ended March 31, 2026, and provided a corporate update.<\/p>\n
\n\u201cThe first quarter of 2026 was transformational for the Company, with the acquisition of Faeth Therapeutics and the concurrent $200 million private placement in February, supported by a group of leading life sciences investors,\u201d said Christopher Gerry, President & General Counsel of Sensei Biotherapeutics. \u201cThis acquisition and injection of new capital will allow us to advance PIKTOR, a differentiated multi-node pathway inhibitor, through key clinical milestones.\u201d<\/p>\n
\n\u201cNew data across the industry continues to support the significant potential of multi-node inhibition of the PI3K\/AKT\/mTOR pathway,\u201d said Anand Parikh, Chief Operating Officer of Sensei Biotherapeutics. \u201cWe believe PIKTOR is differentiated as an orally administered multi-node therapy specifically targeting PI3K-alpha, mTORC1 and mTORC2, with the potential to treat a variety of solid tumors. With our Phase 2 trial in advanced endometrial cancer expected to read out by the end of the year and the recent initiation of our Phase 1b\/2 trial in advanced breast cancer, we are making great strides towards delivering the next generation of solid tumor therapies.\u201d<\/p>\n
Clinical Program Highlights<\/b><\/p>\n
\nAcquired through the Faeth transaction, PIKTOR is now Sensei\u2019s lead program. The investigational, proprietary, all-oral combination of serabelisib and sapanisertib is designed to inhibit multiple nodes of the PI3K\/AKT\/mTOR pathway through PI3K-alpha and dual mTORC1\/2 targeting.<\/p>\n
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- \nIn April 2026, the first patient was dosed in the Phase 1b\/2 trial evaluating PIKTOR for the treatment of HR+\/HER2- advanced breast cancer (Study FTH-PIK-101). Interim data from the trial is expected in 2027.<\/p>\n<\/li>\n
- \nThe Phase 2 trial evaluating PIKTOR in advanced endometrial cancer (Study FTH-PIK-201) is on track to report topline data in the second half of 2026.<\/p>\n<\/li>\n<\/ul>\n
First Quarter 2026 Financial Results<\/b><\/p>\n
Cash Position:<\/b> Cash, cash equivalents and marketable securities were $202.8 million as of March 31, 2026, as compared to $21.2 million as of December 31, 2025.<\/p>\n
Research and Development (R&D) Expenses:<\/b> R&D expenses were $18.0 million for the quarter ended March 31, 2026, compared with $3.7 million for the quarter ended March 31, 2025. The increase in R&D expenses was primarily attributable to the inclusion of Faeth R&D operations as well as one-time costs associated with the Faeth acquisition, partially offset by a reduction in the SNS-101 clinical trial costs.<\/p>\n
General and Administrative (G&A) Expenses:<\/b> G&A expenses were $19.7 million for the quarter ended March 31, 2026, compared to $3.5 million for the quarter ended March 31, 2025. The increase in G&A expense was primarily attributable to one-time costs associated with the Faeth acquisition.<\/p>\n
Acquired In-Process Research and Development (Acquired IPR&D) Expenses:<\/b> Acquired IPR&D expenses were $133.0 million for the quarter ended March 31, 2026. This represents the fair value of IPR&D assets obtained in connection with asset acquisition where the acquired IPR&D has no alternative future use as of the acquisition date.<\/p>\n
Net Loss:<\/b> Net loss was $170.2 million, or $131.45 per basic and diluted share, for the quarter ended March 31, 2026, compared with a net loss of $6.9 million, or $5.45 per basic and diluted share, for the quarter ended March 31, 2025.<\/p>\n
\nWeighted-average common shares outstanding, basic and diluted, were 1,295,052 for the quarter ended March 31, 2026, compared with 1,259,531 for the quarter ended March 31, 2025.<\/p>\n
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