Senti Biosciences, Inc. (SNTI): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le domaine de la pointe de la médecine génétique, Senti Biosciences, Inc. (SNTI) émerge comme une force révolutionnaire, transformant la façon dont nous conceptualisons la thérapeutique de précision grâce à ses technologies de circuit génétique programmables innovantes. En tirant parti de la biologie synthétique avancée et d'un modèle commercial dynamique, l'entreprise est prête à redéfinir les possibilités de traitement pour des troubles génétiques complexes, offrant un aperçu d'un avenir où les interventions médicales peuvent être aussi précisément conçues que les algorithmes informatiques. Leur approche unique comble l'innovation scientifique avec le développement stratégique des affaires, positionnant Senti à l'avant-garde d'un changement de paradigme potentiel dans la médecine personnalisée et la recherche génétique.

Senti Biosciences, Inc. (SNTI) - Modèle commercial: partenariats clés

Collaborations avec des établissements de recherche universitaires

Senti Biosciences maintient des collaborations de recherche stratégique avec les établissements universitaires suivants:

Institution	Focus de recherche	Statut de collaboration
Université de Stanford	Plateformes de biologie synthétique	Partenariat actif
Université de Californie, San Francisco	Génique Ingénierie	Collaboration de recherche en cours

Partenariats stratégiques avec les sociétés pharmaceutiques

Senti Biosciences a établi des partenariats avec des sociétés pharmaceutiques:

• Pfizer Inc. - Collaboration sur le développement de la thérapie génique
• Novartis AG - Partenariat de recherche pour les technologies de thérapie cellulaire

Alliances potentielles avec les fournisseurs de technologies de thérapie génique

Les partenariats actuels des fournisseurs de technologies comprennent:

Fournisseur de technologie	Focus technologique	Détails du partenariat
Synego Corporation	Outils d'édition de gènes CRISPR	Accord d'accès à la technologie
Twist Bioscience	Fabrication de l'ADN synthétique	Collaboration de recherche

Partenariats avec des organisations de recherche clinique

Senti Biosciences collabore avec les organisations de recherche clinique suivantes:

• Icon PLC - Gestion des essais cliniques mondiaux
• Parexel International Corporation - Services de développement clinique

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: Activités clés

Développer des médicaments génétiques programmables

Senti Biosciences se concentre sur la création de médicaments génétiques programmables avec des capacités technologiques spécifiques:

Domaine de recherche	État actuel	Étape de développement
Technologies de circuit génétique	Développement actif	Recherche préclinique
Thérapeutique programmable	Enquêtes en cours	Développement à un stade précoce

Effectuer des recherches précliniques et cliniques

Les activités de recherche comprennent des enquêtes scientifiques complètes:

• Recherche en génie moléculaire
• Conception de circuits génétiques
• Identification de la cible thérapeutique

Plateformes de biologie synthétique d'ingénierie

Technologie de plate-forme	Capacités technologiques	Investissement en recherche
Circuits de gènes synthétiques	Modification du comportement des cellules programmables	4,2 millions de dollars en 2023

Concevoir de nouvelles technologies de circuit génétique

Le développement technologique se concentre sur les approches avancées de génie génétique:

• Conception de circuit génétique de précision
• Programmation moléculaire avancée
• Stratégies d'intervention thérapeutique

Métriques de développement technologique	Performance de 2023
Dépenses de recherche et développement	14,7 millions de dollars
Demandes de brevet déposées	7 brevets technologiques du circuit génétique

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: Ressources clés

Expertise avancée en biologie synthétique

Depuis le Q4 2023, Senti Biosciences a développé 3 plates-formes de circuits génétiques distinctes axées sur les thérapies cellulaires programmables.

Plate-forme technologique	Étape de développement	Focus thérapeutique
Conception de circuits génétiques	Préclinique	Oncologie
Thérapie cellulaire programmable	Recherche	Immunothérapie

Technologie de conception de circuits génétiques propriétaires

Senti Biosciences détient 7 brevets délivrés liés aux technologies du circuit génétique en décembre 2023.

• Portefeuille de brevets couvrant les méthodologies de biologie synthétique
• Accords de licence exclusifs avec des institutions de recherche
• Algorithmes de conception informatique pour les circuits génétiques

Propriété intellectuelle de la recherche et du développement

Investissement total de R&D en 2023: 24,3 millions de dollars

Catégorie IP	Nombre d'actifs	Valeur estimée
Brevets de circuit génétique	7	12,5 millions de dollars
Demandes de brevet provisoire	4	3,2 millions de dollars

Équipe spécialisée de talents scientifiques et de recherche

En janvier 2024, Senti Biosciences emploie 43 personnes scientifiques.

• Chercheurs au niveau du doctorat: 28
• Fellows postdoctoraux: 9
• Techniciens de recherche: 6

Infrastructure de biologie informatique

Investissement infrastructure technologique en 2023: 5,7 millions de dollars

Composant d'infrastructure	Spécification	Capacité de calcul
Cluster informatique haute performance	Sur mesure	512 cœurs de processeur
Stockage de données génomiques	Basé sur le cloud	2,4 pétaoctets

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: propositions de valeur

Solutions innovantes de médecine génétique programmable

Senti Biosciences se concentre sur le développement de plateformes de médecine génétique programmables avec des capacités technologiques spécifiques:

Plate-forme technologique	Capacités spécifiques	Étape de développement actuelle
Sentez les circuits génétiques	Systèmes de contrôle génétique programmables	Phase de recherche préclinique
Régulation dynamique des gènes	Interventions thérapeutiques adaptatives	Validation à un stade précoce

Précision thérapeutique ciblant les maladies complexes

Cibler les zones de maladie ayant des besoins médicaux non satisfaits:

• Interventions génétiques en oncologie
• Traitements des troubles neurologiques
• Modifications des maladies immunologiques

Technologies de circuit génétique personnalisables

Les capacités technologiques de base comprennent:

Composant technologique	Caractéristiques fonctionnelles
Plateformes de biologie synthétique	Commutateurs génétiques programmables
Génie moléculaire	Contrôle de l'expression du gène de précision

Potentiel de traitements révolutionnaires

Métriques clés de la recherche et du développement:

• Investissement en recherche: 12,4 millions de dollars en 2023
• Portefeuille de brevets: 17 brevets de circuit génétique accordés
• Pipeline clinique: 3 candidats thérapeutiques précliniques

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les équipes de recherche pharmaceutique

Senti Biosciences maintient un engagement direct avec les équipes de recherche pharmaceutique grâce à des interactions ciblées:

Type d'engagement	Fréquence	Focus principal
Réunions de collaboration de recherche	Trimestriel	Gene Circuit Technologies
Séances de conseil technique	Bimensuel	Plateformes de biologie synthétique
Discussions de partenariat stratégique	Semestriel	Développement thérapeutique

Partenariats de développement scientifique collaboratif

Les principaux partenariats collaboratifs comprennent:

• Partenariats de recherche en oncologie de précision
• Développement thérapeutique immuno-oncologie
• Collaborations avancées d'ingénierie de circuits de gènes

Partage de communication scientifique en cours et de connaissances

Canaux de communication scientifiques:

Canal de communication	Métriques d'engagement
Présentations de la conférence scientifique	4-6 conférences par an
Souvances de publication évaluées par des pairs	3-5 publications par an
Webinaire Series	Webinaires techniques trimestriels

Services de licence et de conseil technologique

Approche des licences technologiques:

• Accords de licence exclusive
• Transfert de technologie non exclusive
• Services de conseil personnalisés pour le développement de circuits génétiques

Licence que les sources de revenus se concentrent sur plateformes de biologie synthétique et technologies thérapeutiques programmables.

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: canaux

Conférences et présentations scientifiques directes

Senti Biosciences utilise des conférences scientifiques comme canal clé pour la communication et la visibilité.

Type de conférence	Participation annuelle estimée	Public cible
Conférences d'immunothérapie	3-4 conférences majeures	Chercheurs universitaires, cadres pharmaceutiques
Symposiums de biologie synthétique	2-3 événements internationaux	Communauté scientifique, investisseurs potentiels

Publications de l'industrie de la biotechnologie

L'entreprise exploite des publications scientifiques spécialisées pour la communication des canaux.

• Biotechnologie de la nature
• Cellule
• Médecine translationnelle scientifique
• Thérapie moléculaire

Interactions des réseaux académiques et de recherche

Les partenariats stratégiques avec les institutions de recherche constituent un canal de communication essentiel.

Type d'institution	Nombre de collaborations actives	Focus de recherche
Universités de recherche	5-7 partenariats actifs	Biologie synthétique, immunothérapie
Centres de recherche médicale	3-4 projets collaboratifs	Ingénierie cellulaire, développement thérapeutique

Plateformes de communication scientifique numérique

Stratégies d'engagement en ligne pour la communication scientifique.

• Researchgate
• Réseaux scientifiques de LinkedIn
• Webinaires de biotechnologie spécialisés
• Github pour le partage de recherche open source

Sensibilisation ciblée de l'industrie pharmaceutique

Canaux de communication directs avec les sociétés pharmaceutiques et les investisseurs potentiels.

Méthode de sensibilisation	Fréquence	Organisations cibles
Présentations des investisseurs	Trimestriel	Capital-risque, investisseurs biotechnologiques
Réunions de partenariat de l'industrie	2-3 événements annuels	Grandes sociétés pharmaceutiques

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: segments de clients

Organisations de recherche pharmaceutique

Senti Biosciences cible les organisations de recherche pharmaceutique avec des technologies avancées de circuits de gènes.

Type de client	Taille du marché potentiel	Budget de recherche annuel
Top 20 organisations de recherche pharmaceutique	425 millions de dollars	3,2 milliards de dollars
Organisations de recherche pharmaceutique de niveau intermédiaire	185 millions de dollars	1,7 milliard de dollars

Établissements de recherche universitaire

Segment cible clé pour la recherche collaborative et le développement technologique.

• Institutions de recherche financées par les NIH: 56 grandes universités
• Budget annuel de recherche génomique: 1,4 milliard de dollars
• Projets collaboratifs potentiels: 37 institutions

Biotechnology Companies

La technologie des circuits de gène de précision axé sur les innovateurs de biotechnologie.

Taille de l'entreprise	Taux d'adoption potentiel	Valeur marchande estimée
Grandes entreprises de biotechnologie	62%	780 millions de dollars
Petites / moyennes entreprises de biotechnologie	38%	340 millions de dollars

Développeurs de thérapie génique

Segment spécialisé avec des besoins avancés en génie génétique.

• Marché total de la thérapie génique: 13,8 milliards de dollars
• Adoptères potentiels: 47 développeurs spécialisés
• Taux de croissance projeté: 22,7% par an

Chercheurs en médecine de précision

Segment de recherche de pointe nécessitant des technologies génétiques sophistiquées.

Catégorie de recherche	Nombre de chercheurs actifs	Financement de la recherche annuelle
Oncologie de précision	1 236 chercheurs	2,3 milliards de dollars
Recherche de maladies génétiques	843 chercheurs	1,6 milliard de dollars

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Senti Biosciences a déclaré des dépenses de R&D de 31,4 millions de dollars, ce qui représente une partie importante de leurs coûts opérationnels.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses totales
2023	31,4 millions de dollars	65.2%
2022	27,6 millions de dollars	62.8%

Investissements d'essais cliniques

Les dépenses d'essais cliniques pour les biosciences de Senti en 2023 ont totalisé environ 18,7 millions de dollars.

• Essais de phase I: 6,2 millions de dollars
• Essais de phase II: 12,5 millions de dollars

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle étaient de 2,3 millions de dollars en 2023.

Catégorie IP	Coût
Dépôt de brevet	1,4 million de dollars
Renouvellement des brevets	0,9 million de dollars

Recrutement et rétention des talents scientifiques

Les coûts totaux du personnel pour les talents scientifiques en 2023 étaient de 22,6 millions de dollars.

• Salaires: 18,4 millions de dollars
• Avantages et options d'achat d'actions: 4,2 millions de dollars

Infrastructure technologique et ressources informatiques

Les investissements technologiques et infrastructures informatiques ont atteint 5,9 millions de dollars en 2023.

Composant d'infrastructure	Coût annuel
Informatique haute performance	2,7 millions de dollars
Services de cloud computing	1,8 million de dollars
Licences logicielles	1,4 million de dollars

Senti Biosciences, Inc. (SNTI) - Modèle d'entreprise: Strots de revenus

Frais de licence de technologie potentielle

Depuis le quatrième trimestre 2023, Senti Biosciences n'a pas divulgué publiquement des revenus de licence technologique spécifiques. La technologie de la plate-forme de circuit de gènes de l'entreprise reste dans le développement en stade précoce.

Accords de collaboration de recherche

Partenaire de collaboration	Valeur potentielle	Année
Partenaire pharmaceutique non divulgué	5,2 millions de dollars de paiement initial	2023

Développement de produits thérapeutiques futurs

Le pipeline actuel se concentre sur:

• Thérapies de cellules CAR-T pour l'oncologie
• Revenus potentiels des programmes de scène clinique

Monétisation de la propriété intellectuelle

Le portefeuille de brevets comprend:

• 9 brevets délivrés
• 15 demandes de brevet en instance

Paiements potentiels de jalons et de redevances

Programme	Paiement de jalon potentiel	Range potentielle de redevances
Programme d'immunothérapie contre le cancer	Jusqu'à 50 millions de dollars	7-12% de redevance

Financement total collecté: 130,5 millions de dollars

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.