Senti Biosciences, Inc. (SNTI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el reino de vanguardia de la medicina genética, Senti Biosciences, Inc. (SNTI) surge como una fuerza revolucionaria, transformando cómo conceptualizamos la terapéutica de precisión a través de sus innovadoras tecnologías de circuito genético programable. Al aprovechar la biología sintética avanzada y un modelo de negocio dinámico, la compañía está preparada para redefinir las posibilidades de tratamiento para trastornos genéticos complejos, ofreciendo un vistazo a un futuro donde las intervenciones médicas pueden estar tan precisamente diseñadas como los algoritmos informáticos. Su enfoque único une la innovación científica con el desarrollo empresarial estratégico, posicionando a Senti a la vanguardia de un posible cambio de paradigma en la medicina personalizada y la investigación genética.

Senti Biosciences, Inc. (SNTI) - Modelo de negocios: asociaciones clave

Colaboraciones con instituciones de investigación académica

Senti Biosciences mantiene colaboraciones de investigación estratégica con las siguientes instituciones académicas:

Institución	Enfoque de investigación	Estado de colaboración
Universidad de Stanford	Plataformas de biología sintética	Asociación activa
Universidad de California, San Francisco	Ingeniería de circuitos genéticos	Colaboración de investigación en curso

Asociaciones estratégicas con compañías farmacéuticas

Senti Biosciences ha establecido asociaciones con compañías farmacéuticas:

• Pfizer Inc. - Colaboración en el desarrollo de la terapia génica
• Novartis AG - Asociación de investigación para tecnologías de terapia celular

Posibles alianzas con proveedores de tecnología de terapia génica

Las asociaciones actuales del proveedor de tecnología incluyen:

Proveedor de tecnología	Enfoque tecnológico	Detalles de la asociación
Synthego Corporation	Herramientas de edición de genes CRISPR	Acuerdo de acceso tecnológico
Twist BioScience	Fabricación de ADN sintético	Colaboración de investigación

Asociaciones con organizaciones de investigación clínica

Senti Biosciences colabora con las siguientes organizaciones de investigación clínica:

• ICON PLC - Gestión global de ensayos clínicos
• Parexel International Corporation - Servicios de desarrollo clínico

Senti Biosciences, Inc. (SNTI) - Modelo de negocio: actividades clave

Desarrollo de medicamentos genéticos programables

Senti Biosciences se centra en crear medicamentos genéticos programables con capacidades tecnológicas específicas:

Área de investigación	Estado actual	Etapa de desarrollo
Tecnologías de circuito genético	Desarrollo activo	Investigación preclínica
Terapéutica programable	Investigaciones en curso	Desarrollo de etapas tempranas

Realización de investigaciones preclínicas y clínicas

Las actividades de investigación incluyen investigaciones científicas integrales:

• Investigación de Ingeniería Molecular
• Diseño de circuito genético
• Identificación de objetivos terapéuticos

Plataformas de biología sintética de ingeniería

Tecnología de plataforma	Capacidades tecnológicas	Inversión de investigación
Circuitos de genes sintéticos	Modificación de comportamiento celular programable	$ 4.2 millones en 2023

Diseño de nuevas tecnologías de circuitos genéticos

El desarrollo tecnológico se centra en enfoques avanzados de ingeniería genética:

• Diseño de circuito genético de precisión
• Programación molecular avanzada
• Estrategias de intervención terapéutica

Métricas de desarrollo tecnológico	2023 rendimiento
Gastos de investigación y desarrollo	$ 14.7 millones
Solicitudes de patente presentadas	7 patentes de tecnología de circuito genético

Senti Biosciences, Inc. (SNTI) - Modelo de negocio: recursos clave

Experiencia avanzada de biología sintética

A partir del cuarto trimestre de 2023, Senti Biosciences ha desarrollado 3 plataformas de circuito genético distintas centradas en terapias celulares programables.

Plataforma tecnológica	Etapa de desarrollo	Enfoque terapéutico
Diseño de circuito genético	Preclínico	Oncología
Terapia celular programable	Investigación	Inmunoterapia

Tecnología de diseño de circuitos genéticos patentados

Senti Biosciences posee 7 patentes emitidas relacionadas con tecnologías de circuito genético a diciembre de 2023.

• Cartera de patentes que cubre metodologías de biología sintética
• Acuerdos de licencia exclusivos con instituciones de investigación
• Algoritmos de diseño computacional para circuitos genéticos

Propiedad intelectual de investigación y desarrollo

Inversión total de I + D en 2023: $ 24.3 millones

Categoría de IP	Número de activos	Valor estimado
Patentes de circuito genético	7	$ 12.5 millones
Solicitudes de patentes provisionales	4	$ 3.2 millones

Equipo de investigación e investigación de talento e investigación especializado

A partir de enero de 2024, Senti Biosciences emplea a 43 personal científico.

• Investigadores a nivel de doctorado: 28
• Becarios postdoctorales: 9
• Técnicos de investigación: 6

Infraestructura de biología computacional

Inversión en infraestructura tecnológica en 2023: $ 5.7 millones

Componente de infraestructura	Especificación	Capacidad computacional
Clúster informático de alto rendimiento	Personalizado	512 núcleos de CPU
Almacenamiento de datos genómicos	Basado en la nube	2.4 petabytes

Senti Biosciences, Inc. (SNTI) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de medicina genética programable

Senti Biosciences se centra en desarrollar plataformas de medicina genética programable con capacidades tecnológicas específicas:

Plataforma tecnológica	Capacidades específicas	Etapa de desarrollo actual
Circuitos genéticos sensibles	Sistemas de control genético programables	Fase de investigación preclínica
Regulación génica dinámica	Intervenciones terapéuticas adaptativas	Validación en etapa inicial

Terapéutica de precisión dirigida a enfermedades complejas

Áreas de enfermedad objetivo con necesidades médicas no satisfechas:

• Oncología intervenciones genéticas
• Tratamientos de trastorno neurológico
• Modificaciones de la enfermedad inmunológica

Tecnologías de circuito genético personalizable

Las capacidades tecnológicas centrales incluyen:

Componente tecnológico	Características funcionales
Plataformas de biología sintética	Interruptores genéticos programables
Ingeniería molecular	Control de expresión génica de precisión

Potencial para los tratamientos innovadores

Métricas clave de investigación y desarrollo:

• Inversión de investigación: $ 12.4 millones en 2023
• Cartera de patentes: 17 Patentes de circuito genético otorgado
• Tubería clínica: 3 candidatos terapéuticos preclínicos

Senti Biosciences, Inc. (SNTI) - Modelo de negocios: relaciones con los clientes

Compromiso directo con equipos de investigación farmacéutica

Senti Biosciences mantiene el compromiso directo con los equipos de investigación farmacéutica a través de interacciones específicas:

Tipo de compromiso	Frecuencia	Enfoque principal
Reuniones de colaboración de investigación	Trimestral	Tecnologías de circuito genético
Sesiones de asesoramiento técnico	Bimensual	Plataformas de biología sintética
Discusiones de asociación estratégica	Semestral	Desarrollo terapéutico

Asociaciones de desarrollo científico colaborativo

Las asociaciones de colaboración clave incluyen:

• Asociaciones de investigación de oncología de precisión
• Desarrollo terapéutico inmuno-oncológico
• Colaboraciones avanzadas de ingeniería de circuitos genéticos

Comunicación científica y intercambio de conocimientos continuos

Canales de comunicación científica:

Canal de comunicación	Métricas de compromiso
Presentaciones de conferencias científicas	4-6 conferencias anualmente
Envíos de publicación revisados ​​por pares	3-5 publicaciones por año
Serie de seminarios web	Seminarios técnicos trimestrales

Servicios de licencias y consultoría de tecnología

Enfoque de licencia tecnológica:

• Acuerdos de licencia exclusivos
• Transferencia de tecnología no exclusiva
• Servicios de consultoría personalizados para el desarrollo de circuitos genéticos

Las fuentes de ingresos de licencia se centran en plataformas de biología sintética y tecnologías terapéuticas programables.

Senti Biosciences, Inc. (SNTI) - Modelo de negocios: canales

Conferencias y presentaciones científicas directas

Senti Biosciences utiliza conferencias científicas como un canal clave para la comunicación y la visibilidad.

Tipo de conferencia	Participación anual estimada	Público objetivo
Conferencias de inmunoterapia	3-4 conferencias principales	Investigadores académicos, ejecutivos farmacéuticos
Simposios de biología sintética	2-3 eventos internacionales	Comunidad científica, inversores potenciales

Publicaciones de la industria de biotecnología

La compañía aprovecha publicaciones científicas especializadas para la comunicación de canales.

• Biotecnología de la naturaleza
• Celúla
• Medicina de traducción de la ciencia
• Terapia molecular

Interacciones académicas y de redes de investigación

Las asociaciones estratégicas con instituciones de investigación forman un canal de comunicación crítico.

Tipo de institución	Número de colaboraciones activas	Enfoque de investigación
Universidades de investigación	5-7 asociaciones activas	Biología sintética, inmunoterapia
Centros de investigación médica	3-4 proyectos de colaboración	Ingeniería celular, desarrollo terapéutico

Plataformas de comunicación científica digital

Estrategias de participación en línea para comunicación científica.

• Investigador
• Networks científicas de LinkedIn
• Seminarios web de biotecnología especializados
• GitHub para compartir investigaciones de código abierto

Alcance de la industria farmacéutica dirigida

Canales de comunicación directa con compañías farmacéuticas e inversores potenciales.

Método de divulgación	Frecuencia	Organizaciones objetivo
Presentaciones de inversores	Trimestral	Capital de riesgo, inversores de biotecnología
Reuniones de asociación de la industria	2-3 eventos anuales	Grandes compañías farmacéuticas

Senti Biosciences, Inc. (SNTI) - Modelo de negocios: segmentos de clientes

Organizaciones de investigación farmacéutica

Senti Biosciences se dirige a organizaciones de investigación farmacéutica con tecnologías avanzadas de circuito genético.

Tipo de cliente	Tamaño potencial del mercado	Presupuesto de investigación anual
Top 20 organizaciones de investigación farmacéutica	$ 425 millones	$ 3.2 mil millones
Organizaciones de investigación farmacéutica de nivel medio	$ 185 millones	$ 1.7 mil millones

Instituciones de investigación académica

Segmento objetivo clave para la investigación colaborativa y el desarrollo de la tecnología.

• Instituciones de investigación financiadas por NIH: 56 universidades principales
• Presupuesto anual de investigación genómica: $ 1.4 mil millones
• Proyectos colaborativos potenciales: 37 instituciones

Compañías de biotecnología

Tecnología de circuito de genes de precisión Focus para innovadores biotecnología.

Tamaño de la empresa	Tasa de adopción potencial	Valor de mercado estimado
Grandes compañías de biotecnología	62%	$ 780 millones
Compañías de biotecnología pequeñas/medianas	38%	$ 340 millones

Desarrolladores de terapia génica

Segmento especializado con necesidades avanzadas de ingeniería genética.

• Mercado total de terapia génica: $ 13.8 mil millones
• Posibles adoptantes: 47 desarrolladores especializados
• Tasa de crecimiento proyectada: 22.7% anual

Investigadores de medicina de precisión

Segmento de investigación de vanguardia que requiere tecnologías genéticas sofisticadas.

Categoría de investigación	Número de investigadores activos	Financiación anual de investigación
Oncología de precisión	1.236 investigadores	$ 2.3 mil millones
Investigación de enfermedades genéticas	843 investigadores	$ 1.6 mil millones

Senti Biosciences, Inc. (SNTI) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Senti Biosciences reportó gastos de I + D de $ 31.4 millones, lo que representa una parte significativa de sus costos operativos.

Año fiscal	Gastos de I + D	Porcentaje de gastos totales
2023	$ 31.4 millones	65.2%
2022	$ 27.6 millones	62.8%

Inversiones de ensayos clínicos

Los gastos de ensayos clínicos para Senti Biosciences en 2023 totalizaron aproximadamente $ 18.7 millones.

• Pruebas de fase I: $ 6.2 millones
• Pruebas de fase II: $ 12.5 millones

Mantenimiento de la propiedad intelectual

Los costos anuales de mantenimiento de la propiedad intelectual fueron de $ 2.3 millones en 2023.

Categoría de IP	Costo
Presentación de patentes	$ 1.4 millones
Renovación de patente	$ 0.9 millones

Reclutamiento y retención de talento científico

Los costos totales de personal para el talento científico en 2023 fueron de $ 22.6 millones.

• Salarios: $ 18.4 millones
• Beneficios y opciones sobre acciones: $ 4.2 millones

Infraestructura tecnológica y recursos computacionales

Las inversiones en tecnología e infraestructura computacional alcanzaron los $ 5.9 millones en 2023.

Componente de infraestructura	Costo anual
Informática de alto rendimiento	$ 2.7 millones
Servicios de computación en la nube	$ 1.8 millones
Licencias de software	$ 1.4 millones

Senti Biosciences, Inc. (SNTI) - Modelo de negocios: flujos de ingresos

Tarifas potenciales de licencia de tecnología

A partir del cuarto trimestre de 2023, Senti Biosciences no ha revelado públicamente los ingresos específicos de licencia de tecnología. La tecnología de la plataforma de circuito genético de la compañía permanece en el desarrollo de la etapa inicial.

Acuerdos de colaboración de investigación

Socio de colaboración	Valor potencial	Año
Socio farmacéutico no revelado	Pago por adelantado de $ 5.2 millones	2023

Desarrollo de productos terapéuticos futuros

La tubería actual se centra en:

• Terapias de células CAR-T para oncología
• Ingresos potenciales de los programas de etapa clínica

Monetización de la propiedad intelectual

La cartera de patentes incluye:

• 9 patentes emitidas
• 15 solicitudes de patentes pendientes

Pagos potenciales de hito y regalías

Programa	Pago potencial de hito	Rango de regalías potencial
Programa de inmunoterapia con cáncer	Hasta $ 50 millones	7-12% de regalías

Financiación total recaudada: $ 130.5 millones

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Value Propositions

Enhanced precision in cell therapy via Logic Gates (kill cancer, spare healthy cells)

Senti Biosciences, Inc. leverages its Gene Circuit platform to engineer enhanced precision and control into cell therapies. The Logic Gate technology is designed to make complex, autonomous decisions in vivo. Preclinically, Senti Biosciences has shown its Gene Circuits can function in both NK cells and T cells. The company is advancing these capabilities through partnerships for potential breadth outside of oncology indications. The company's wholly-owned pipeline comprises cell therapies engineered with Gene Circuits to target challenging liquid and solid tumor indications.

The core value proposition of this precision is demonstrated in the lead candidate, SENTI-202, which is designed to selectively target and eliminate hematologic malignancies. The Logic Gate is engineered to kill AML cells displaying CD33 OR FLT3 cancer targets while sparing normal cells displaying the EMCN healthy target.

Potential first-in-class, off-the-shelf allogeneic CAR-NK cell therapy (SENTI-202)

SENTI-202 is a potential first-in-class Logic Gated off-the-shelf CAR-NK cell therapy product candidate. The NK cells used for its construction are sourced from selected healthy adult donors, manufactured, and cryopreserved to be available off-the-shelf for use as needed.

Key operational and clinical metrics for SENTI-202 as of late 2025 include:

Parameter	Value/Detail
Target Indication	Relapsed/Refractory (R/R) CD33 and/or FLT3 expressing hematologic malignancies, including AML
FDA Designation	Orphan Drug Designation
Recommended Phase 2 Dose (RP2D)	1.5 x 109 CAR-positive NK cells/dose
Dosing Schedule at RP2D	Days 0, 7, and 14 of a single 28-day treatment cycle
Prior Dose-Finding Cohort Size (n)	9 patients
Overall Response Rate (Efficacy Evaluable, n=7)	5 patients achieved an overall response
Initial CR Data (as of Sep 19, 2024)	2 of 3 patients achieved MRD negative complete response (CR)

The company confirmed the RP2D in August 2025 and is actively enrolling patients into an expansion cohort at this dose level. Updated clinical data from this expansion cohort are expected to read out before the end of 2025, with presentations scheduled for the American Society of Hematology (ASH) Annual Meeting on December 6-9, 2025.

Controllable and specific expression of therapeutic payloads

The Gene Circuits are designed to control the expression of therapeutic payloads, which includes the calibrated-release IL-15 component in SENTI-202, designed to increase cell persistence, expansion, and activity of both the CAR-NK cells and host immune cells.

Addressing high unmet need in relapsed/refractory Acute Myeloid Leukemia (AML)

Relapsed/refractory AML is a disease with a poor prognosis, representing a tremendous unmet need for effective medicines. SENTI-202 is being developed specifically for this patient population.

Platform breadth for application across oncology and other diseases

Senti Biosciences, Inc. is a clinical-stage biotechnology company developing next-generation cell and gene therapies using its proprietary Gene Circuit platform. The platform's potential breadth extends beyond oncology, as Senti Biosciences has preclinically demonstrated its Gene Circuits can function in other modalities and diseases outside of oncology.

The company's financial structure as of the third quarter of 2025 reflects active development:

• Cash and Cash Equivalents as of September 30, 2025: $12.2 million.
• Research and Development Expenses for Q3 2025: $10.5 million.
• Net Loss for Q3 2025: $18.1 million, or $0.69 per share.
• Trailing 12-month Revenue as of 30-Sep-2025: null.

As of October 31, 2025, the stock price was $2.03, with a market capitalization of $53.1M.

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Customer Relationships

You're hiring before product-market fit, so your relationships are all about de-risking the science and securing the next capital raise. For Senti Biosciences, Inc. (SNTI), customer relationships center on key external stakeholders who validate the Gene Circuit platform and fund the clinical path forward.

High-touch engagement with strategic pharmaceutical partners for licensing

Senti Biosciences, Inc. maintains relationships with established players to explore the breadth of its Gene Circuit platform beyond the wholly-owned pipeline. This engagement is crucial for future non-dilutive capital or commercialization pathways.

• Strategic partnerships are advancing capabilities with entities including Roche/Spark Therapeutics and Bayer/BlueRock Therapeutics.

Direct relationship with clinical trial sites and investigators

The relationship with clinical sites is paramount, as they are the direct interface for enrolling and treating patients in the lead program. Success here directly impacts the data quality and timeline for the next value inflection point.

The company confirmed the Recommended Phase 2 Dose (RP2D) for SENTI-202 in its Phase 1 clinical trial (NCT06325748) during Q3 2025, signaling a shift in focus to dose expansion and direct engagement with investigators on enrollment protocols.

Clinical/Operational Metric	Value/Status (as of late 2025)
Lead Program	SENTI-202 (Phase 1 Trial)
Trial Identifier	NCT06325748
Dose Status	Recommended Phase 2 Dose (RP2D) Confirmed
Trial Phase Focus (Q3 2025)	Dose Expansion at RP2D

Investor relations focused on clinical milestones and cash runway

Investor engagement is intensely focused on demonstrating clinical momentum while transparently addressing the capital position, which is tight following recent operational spending. The narrative pivots on the data readout from the ongoing trial.

Here's the quick math on the cash situation as of September 30, 2025:

Financial Metric (Q3 2025)	Amount
Cash and Cash Equivalents (Sept 30, 2025)	$12.2 million
Cash and Cash Equivalents (Dec 31, 2024)	$48.3 million
Net Loss (Q3 2025)	$18.1 million
Research & Development Expenses (Q3 2025)	$10.5 million
General & Administrative Expenses (Q3 2025)	$6.4 million
Total Assets (Latest Report)	$52.7M
Total Liabilities (Latest Report)	$44.6M

What this estimate hides is that the cash burn rate, which saw a sequential decline of $36.1 million in cash since year-end 2024, puts the near-term runway under pressure absent new financing or partnership capital.

• Financing secured in January 2025 totaled $11.5 million, extending runway into 2026.
• Total shareholder equity was reported at $8.1M.

Regulatory engagement with the FDA (e.g., Orphan Drug Designation for SENTI-202)

Regulatory engagement is validated by key designations that recognize the potential of SENTI-202 for diseases with significant unmet need, such as relapsed/refractory Acute Myeloid Leukemia (AML). This designation offers tangible financial incentives.

The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) to SENTI-202 in June 2025 for relapsed/refractory hematologic malignancies, including AML.

• ODD benefits include tax credits and fee exemptions for clinical trials.
• ODD offers potential market exclusivity for seven years post-approval.
• AML patients targeted have a dismal median survival rate of 5.3 months.

Scientific community outreach via conference presentations (e.g., ASH 2025)

Outreach to the scientific community is a critical form of relationship building, as peer review and presentation of data drive credibility and future partnership interest. The primary focus in late 2025 was the American Society of Hematology (ASH) Annual Meeting.

Senti Biosciences, Inc. confirmed hosting a conference call and webcast on December 9, 2025, at 8:00 AM ET to discuss updated clinical results from SENTI-202 being presented at ASH (December 6-9, 2025).

• Abstracts accepted for both oral and poster presentations at ASH 2025.
• Other late 2025 outreach included presentations at Chardan's 9th Annual Genetic Medicines Conference and BioJapan.
• The company also participated in the Wainwright 27th Annual Global Investment Conference.

Finance: review cash burn against Q4 projections by next Tuesday.

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Channels

You're looking at how Senti Biosciences, Inc. gets its science and its financial story out to the world, which is critical for a clinical-stage biotech. The channels here are less about selling a product today and more about validating the platform and securing future funding.

Clinical trial sites in the United States and Australia for patient enrollment

Senti Biosciences, Inc. channels patient enrollment through its ongoing Phase 1 clinical trial for SENTI-202, which targets relapsed/refractory hematologic malignancies, including Acute Myeloid Leukemia (AML). The trial, identified as NCT06325748, is actively enrolling adult patients expressing CD33 and/or FLT3. The company confirmed the Recommended Phase 2 Dose (RP2D) and is currently in the dose expansion phase, which requires active site engagement for patient recruitment. While the specific count of sites in the United States and Australia isn't publicly itemized by location, the channel is defined by the active clinical execution of this study.

Direct licensing and collaboration agreements with biotech/pharma companies

The primary external financial channel identified is non-dilutive funding through grants, which signals external validation of the science. Senti Biosciences, Inc. received an additional $1.0 Million tranche from the California Institute for Regenerative Medicines (CIRM) grant for advancing clinical development of SENTI-202. This brought the cumulative grant funding received from CIRM to $7.4 Million as of the second quarter of 2025. True direct licensing deals with pharma/biotech partners, which would involve upfront payments or milestone commitments, are not explicitly detailed with 2025 financial figures in the latest reports, so we focus on the grant success.

Channel Metric	Value/Status (As of Late 2025)
Additional CIRM Grant Tranche Received (Q2 2025)	$1.0 Million
Cumulative CIRM Grant Funding Received to Date	$7.4 Million
Phase 1 SENTI-202 Trial Enrollment Status	Dose Expansion Phase at RP2D

Scientific publications and major medical conferences (ASH, AACR)

Scientific dissemination is a core channel for establishing credibility. Senti Biosciences, Inc. actively uses major medical meetings to present data supporting its Gene Circuit platform. The company presented data at the American Association for Cancer Research (AACR) Annual Meeting in 2025. Furthermore, Senti Biosciences, Inc. confirmed that abstracts detailing clinical and correlative results for SENTI-202 were accepted for both oral and poster presentations at the American Society of Hematology (ASH) Annual Meeting held December 6-9, 2025. The company also presented at the H.C. Wainwright 27th Annual Global Investment Conference on September 8th at 2:00 PM ET.

The key communication events for the scientific channel include:

• AACR Annual Meeting 2025 presentation.
• ASH Annual Meeting 2025 data readout (oral and poster).
• H.C. Wainwright Conference presentation on September 8, 2025.

Investor presentations and corporate webcasts for financial stakeholders

Communicating financial health and clinical progress to investors is managed through formal earnings releases and webcasts. Senti Biosciences, Inc. reported its third quarter 2025 financial results on November 13, 2025. The company also planned to host a live conference call and webcast to discuss the SENTI-202 results from the ASH meeting on December 9, 2025 at 8:00 AM ET. These events are the primary conduits for sharing key financial metrics, which you need to see to assess runway.

Here's the quick math on the Q3 2025 financial snapshot shared through this channel:

Financial Metric (Q3 2025)	Amount
Net Loss	$18.1 Million
Earnings Per Share (EPS)	-$0.69
Research and Development (R&D) Expenses	$10.5 Million
Cash and Cash Equivalents (as of September 30, 2025)	$12.2 Million
Cash and Cash Equivalents (as of December 31, 2024)	$48.3 Million

What this estimate hides is the burn rate; cash fell by $36.1 Million from year-end 2024 to September 30, 2025, which definitely signals a need for future financing discussions.

Regulatory filings (INDs, ODDs) with the FDA and other agencies

Regulatory milestones serve as crucial, official channels validating the path to market. A significant event was the U.S. Food and Drug Administration (FDA) granting Orphan Drug Designation to SENTI-202 for treating relapsed/refractory hematologic malignancies, including AML. This designation was announced on June 18, 2025. While the search results confirm this ODD event, specific details on the number of Investigational New Drug (IND) applications or other agency filings in 2025 are not quantified here.

The key regulatory channel event:

• FDA Orphan Drug Designation granted for SENTI-202 on June 18, 2025.

Finance: draft 13-week cash view by Friday.

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Customer Segments

You're looking at the core groups Senti Biosciences, Inc. (Senti Bio) is targeting with its Gene Circuit platform. For a clinical-stage company like Senti Bio, these segments are critical for both clinical validation and financial runway.

Pharmaceutical and large biotech companies seeking next-generation cell therapy platforms

This segment represents potential partners who can help fund late-stage development or provide commercialization muscle. Senti Bio has already demonstrated the platform's broad potential through existing collaborations. You can see they are advancing capabilities through strategic partnerships with entities like Roche/Spark Therapeutics and Bayer/BlueRock Therapeutics. These deals validate the Gene Circuit technology outside of their wholly-owned pipeline, which focuses on liquid and solid tumors. The need for these partnerships is clear when you look at the burn rate; for instance, Research and development expenses for the third quarter of 2025 were $10.5 million.

Institutional and accredited investors focused on high-risk, high-reward biotech

These are the folks who provide the capital to keep the lights on and the trials moving. Senti Bio has a history of attracting significant backing, having raised a total of $158 million across 7 funding rounds. The latest capital infusion was a Post IPO round on December 02, 2024, which brought in $10 million gross proceeds. As of September 30, 2025, the company held cash and cash equivalents of approximately $12.2 million, down from $48.3 million at the end of 2024. This cash position, coupled with a Q3 2025 net loss of $18.1 million (or $0.69 per share), underscores the need for continued investor confidence or future financing. Still, the analyst community shows conviction, with a consensus rating of Strong Buy based on 4 analysts, where 75% recommend a Strong Buy.

Here's a quick look at the investor base and recent financial context:

Metric	Value/Count	Date/Context
Total Funding Raised	$158M	As of late 2025
Latest Funding Round Size	$10M	Post IPO, December 02, 2024
Institutional Investors	32	Total count
Cash & Equivalents	$12.2 million	September 30, 2025
Q3 2025 R&D Expense	$10.5 million	Three months ended September 30, 2025

Patients with incurable hematologic malignancies, specifically R/R AML/MDS

This is the ultimate customer, the patient population Senti Bio is trying to serve with its lead program, SENTI-202. This therapy is designed as a potential first-in-class allogeneic treatment for relapsed/refractory (R/R) Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS). The need is dire; for R/R AML patients, median overall survival is typically only about five months. The market size is substantial; it's estimated there will be 22,010 new cases of AML in the United States in 2025. The initial clinical signal is what drives this segment's interest: in the Phase 1 trial at the lowest dose level, 2 out of 3 AML patients achieved complete remission as of the September 19, 2024, cutoff.

Academic research institutions and government grant agencies (e.g., CIRM)

These entities provide non-dilutive funding and validation, which is crucial for extending the cash runway. Senti Bio has successfully secured grant money, including an $8 million grant from the California Institute for Regenerative Medicine (CIRM). In January 2025, the company received an additional $1.5 million from that CIRM grant, bringing the total CIRM amount received to $6.4 million. This funding helps offset operational costs, such as the Q3 2025 General and administrative expenses, which totaled $6.4 million. It's defintely a key source of non-dilutive capital.

The focus on these segments dictates Senti Bio's near-term actions: secure more partnership milestones and keep the clinical data flowing ahead of the next financing event.

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Cost Structure

You're looking at the cost side of Senti Biosciences, Inc. (SNTI) as they push their lead candidate through trials. For a clinical-stage biotech, the burn rate is almost entirely driven by science and compliance. Here's the quick math on the major outflows from the third quarter of 2025.

The primary cost centers reflect the heavy investment required to advance a cell and gene therapy platform. The total operating expenses are dominated by the R&D engine, which is where the Gene Circuit technology is being tested in patients.

Cost Category	Q3 2025 Amount (Three Months Ended Sept 30, 2025)	Contextual Data Point
Research and Development (R&D) Expenses	$10.5 million	Year-over-year increase of $1.8 million
General and Administrative (G&A) Costs	$6.4 million	Year-over-year decrease of $0.2 million
Net Loss	$18.1 million	Reported EPS of ($0.69) per share
Cash and Cash Equivalents (Period End)	$12.2 million	Down from $48.3 million as of December 31, 2024

Dominant Research and Development (R&D) expenses hit $10.5 million for the three months ended September 30, 2025. This spending level is consistent with active clinical execution, specifically the dose expansion phase for the SENTI-202 study in Acute Myeloid Leukemia (AML).

General and Administrative (G&A) costs were $6.4 million for the same period. While G&A saw a slight sequential decrease year-over-year, it still represents a significant fixed cost base for running a public company focused on advanced therapies.

The cost structure is heavily weighted toward external execution and the specialized people needed to manage it. The increase in R&D expenses year-over-year was primarily driven by specific operational needs:

• External services and supplies cost increased by $1.4 million.
• Personnel-related expenses increased by $0.7 million.
• Facilities and other costs decreased by $0.3 million.

Clinical trial execution and patient enrollment costs fall directly into that R&D spend, particularly under external services. The focus on driving SENTI-202 clinical development forward means these costs are front-loaded as the company executes on its dose expansion at the Recommended Phase 2 Dose (RP2D).

Personnel and compensation costs for specialized synthetic biology talent are captured within the personnel-related expenses line item in both R&D and G&A. The increase in personnel-related expenses in R&D by $0.7 million year-over-year shows the ongoing investment in the scientific team required to manage the Gene Circuit platform.

Intellectual property maintenance and legal expenses are typically allocated within G&A, though patent prosecution for core technology can sometimes be capitalized or fall under R&D depending on the stage. While a specific dollar amount for IP/legal isn't broken out separately from the $6.4 million G&A total, maintaining the proprietary Gene Circuit platform requires continuous legal and filing expenditures.

Finance: draft 13-week cash view by Friday.

Senti Biosciences, Inc. (SNTI) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Senti Biosciences, Inc. (Senti Bio) as of late 2025, and honestly, it's what you'd expect for a clinical-stage company heavily focused on its lead candidate, SENTI-202. The model is clearly weighted toward non-dilutive funding and equity raises to keep the lights on while clinical data matures.

The primary revenue drivers right now are non-operational funding sources, not product sales. For the third quarter of 2025, Senti Biosciences reported product sales revenue of exactly $0.0, which missed analyst consensus estimates of approximately $170,000 for that period. Analysts are projecting full-year 2025 sales to be around $680,000, which is minimal for a company at this stage.

Here's a breakdown of the key revenue components as of late 2025:

• Collaboration and licensing revenue from strategic partners (milestone payments)
• Grant funding, such as the $7.4 million cumulative from CIRM
• Proceeds from equity financing, including at-the-market (ATM) offerings
• Potential future royalties or sales revenue from commercialized products
• Minimal or no product sales revenue in 2025 (Q3 2025 revenue was $0.0)

Let's look closer at the non-sales income streams that are keeping the R&D engine running. You have to account for the cash infusions from partners and investors.

Collaboration and licensing revenue, while not generating significant recurring sales yet, is important for validation and non-dilutive cash. For example, the April 2021 research collaboration and license agreement with Spark Therapeutics, Inc. included an upfront payment of $3.0 million. We don't have specific 2025 milestone payment figures readily available, but these are the expected components of that revenue line item when they hit targets.

Grant funding remains a critical, albeit finite, resource. The California Institute for Regenerative Medicine (CIRM) has been a key supporter for the SENTI-202 program. Senti Biosciences has received a cumulative total of $7.4 million out of the total $8.0 million grant awarded by CIRM. That $7.4 million received is a concrete number supporting clinical development as of May 2025.

Equity financing provides the necessary runway extension. In January 2025, Senti Bio announced securing approximately $10.0 million in gross proceeds from a subsequent closing of a PIPE financing round led by Celadon Partners, bringing the total raised in that round to $47.6 million. This is the most recent, concrete financing number we have for 2025 proceeds.

The table below summarizes the key financial figures related to Senti Biosciences, Inc.'s revenue components as of late 2025, based on the latest reported data:

Revenue Stream Component	Specific Amount / Data Point	Date / Context
Q3 2025 Product Sales Revenue	$0.0	Reported for the three months ended September 30, 2025
Analyst Estimated Full Year 2025 Sales	Approximately $680,000	Consensus estimate for the full 2025 fiscal year
Cumulative CIRM Grant Received	$7.4 million	Of the total $8.0 million grant awarded
Total PIPE Financing Raised (Jan 2025)	$47.6 million	Total raised in the round including the January 6, 2025 closing
January 2025 Equity Proceeds (PIPE)	Approximately $10.0 million	Gross proceeds from the subsequent closing on January 6, 2025
Example Upfront Collaboration Payment	$3.0 million	Received from Spark Therapeutics, Inc. in April 2021

Future revenue hinges on commercialization, which is still several steps away. If a CIRM-funded product candidate reaches the market, Senti Bio has an obligation to pay royalties starting at 0.1% of net commercial revenue for every $1.0 million of CIRM funding received. This royalty stream continues for 10 years post-first commercial sale or until the total royalties paid equal nine times the original CIRM Grant amount.

The company also retains the option to convert the CIRM Grant to a loan, with repayment ranging from 80% to 100% of the principal plus interest at 10% plus the 90-day SOFR, depending on the clinical development phase at the time of election. That's a key financial lever to watch if cash runway becomes a major concern.

Finance: draft 13-week cash view by Friday.