Senti Biosciences, Inc. (SNTI): Modelo de negócios Canvas [Jan-2025 Atualizado]

No domínio de ponta da medicina genética, a Senti Biosciences, Inc. (SNTI) surge como uma força revolucionária, transformando como conceituamos a terapêutica de precisão por meio de suas inovadoras tecnologias de circuitos genéticos programáveis. Ao alavancar a biologia sintética avançada e um modelo de negócios dinâmicos, a empresa está pronta para redefinir as possibilidades de tratamento para distúrbios genéticos complexos, oferecendo um vislumbre de um futuro em que as intervenções médicas podem ser tão com precisão quanto os algoritmos de computador. Sua abordagem única preenche a inovação científica com o desenvolvimento estratégico de negócios, posicionando Senti na vanguarda de uma potencial mudança de paradigma na medicina personalizada e na pesquisa genética.

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: Parcerias -chave

Colaborações com instituições de pesquisa acadêmica

A Senti Biosciences mantém colaborações estratégicas de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Status de colaboração
Universidade de Stanford	Plataformas de biologia sintética	Parceria ativa
Universidade da Califórnia, São Francisco	Engenharia de Circuito de Gennes	Colaboração de pesquisa em andamento

Parcerias estratégicas com empresas farmacêuticas

A Senti Biosciences estabeleceu parcerias com empresas farmacêuticas:

• Pfizer Inc. - Colaboração no desenvolvimento da terapia genética
• Novartis AG - Parceria de pesquisa para tecnologias de terapia celular

Alianças em potencial com provedores de tecnologia de terapia genética

As parcerias atuais de provedores de tecnologia incluem:

Provedor de tecnologia	Foco em tecnologia	Detalhes da parceria
Synthego Corporation	Ferramentas de edição de genes CRISPR	Contrato de Acesso à Tecnologia
Twist Bioscience	Fabricação de DNA sintético	Colaboração de pesquisa

Parcerias com organizações de pesquisa clínica

Senti Biosciences colabora com as seguintes organizações de pesquisa clínica:

• ICON PLC - Gerenciamento global de ensaios clínicos
• Parexel International Corporation - Serviços de Desenvolvimento Clínico

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: Atividades -chave

Desenvolvimento de medicamentos genéticos programáveis

A Senti Biosciences se concentra na criação de medicamentos genéticos programáveis ​​com recursos tecnológicos específicos:

Área de pesquisa	Status atual	Estágio de desenvolvimento
Tecnologias de circuito genético	Desenvolvimento ativo	Pesquisa pré -clínica
Terapêutica programável	Investigações em andamento	Desenvolvimento em estágio inicial

Condução de pesquisa pré -clínica e clínica

As atividades de pesquisa incluem investigações científicas abrangentes:

• Pesquisa em Engenharia Molecular
• Projeto de circuito genético
• Identificação do alvo terapêutico

Plataformas de biologia sintética de engenharia

Tecnologia da plataforma	Capacidades tecnológicas	Investimento em pesquisa
Circuitos de genes sintéticos	Modificação de comportamento celular programável	US $ 4,2 milhões em 2023

Projetando novas tecnologias de circuito genético

O desenvolvimento tecnológico se concentra em abordagens avançadas de engenharia genética:

• Projeto de circuito genético de precisão
• Programação molecular avançada
• Estratégias de intervenção terapêutica

Métricas de desenvolvimento de tecnologia	2023 desempenho
Despesas de pesquisa e desenvolvimento	US $ 14,7 milhões
Pedidos de patente arquivados	7 patentes de tecnologia de circuito genético

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: Recursos -chave

Experiência avançada de biologia sintética

A partir do quarto trimestre 2023, a Senti Biosciences desenvolveu 3 plataformas distintas de circuitos genéticos focados em terapias celulares programáveis.

Plataforma de tecnologia	Estágio de desenvolvimento	Foco terapêutico
Projeto de circuito genético	Pré -clínico	Oncologia
Terapia celular programável	Pesquisar	Imunoterapia

Tecnologia de design de circuito genético proprietário

A Senti Biosciences detém 7 patentes emitidas relacionadas às tecnologias de circuito genético em dezembro de 2023.

• Portfólio de patentes Cobrindo metodologias de biologia sintética
• Acordos de licenciamento exclusivos com instituições de pesquisa
• Algoritmos de design computacional para circuitos genéticos

Propriedade intelectual de pesquisa e desenvolvimento

Investimento total de P&D em 2023: US $ 24,3 milhões

Categoria IP	Número de ativos	Valor estimado
Patentes de circuito genético	7	US $ 12,5 milhões
Aplicações de patentes provisórias	4	US $ 3,2 milhões

Equipe de talento científico especializado e pesquisa

Em janeiro de 2024, a Senti Biosciences emprega 43 pessoal científico.

• Pesquisadores no nível de doutorado: 28
• Pós -doutorado: 9
• Técnicos de pesquisa: 6

Infraestrutura de biologia computacional

Investimento de infraestrutura de tecnologia em 2023: US $ 5,7 milhões

Componente de infraestrutura	Especificação	Capacidade computacional
Cluster de computação de alto desempenho	Feito sob encomenda	512 núcleos da CPU
Armazenamento de dados genômicos	Baseada em nuvem	2.4 Petabytes

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: proposições de valor

Soluções inovadoras de medicina genética programável

A Senti Biosciences se concentra no desenvolvimento de plataformas programáveis ​​de medicina genética com recursos tecnológicos específicos:

Plataforma de tecnologia	Recursos específicos	Estágio de desenvolvimento atual
Sentir circuitos genéticos	Sistemas de controle genético programáveis	Fase de pesquisa pré -clínica
Regulação dinâmica de genes	Intervenções terapêuticas adaptativas	Validação em estágio inicial

Terapêutica de precisão direcionando doenças complexas

Áreas de doença alvo com necessidades médicas não atendidas:

• Intervenções genéticas oncológicas
• Tratamentos de transtorno neurológico
• Modificações de doenças imunológicas

Tecnologias de circuito genético personalizáveis

Os principais recursos tecnológicos incluem:

Componente de tecnologia	Características funcionais
Plataformas de biologia sintética	Interruptores genéticos programáveis
Engenharia Molecular	Controle de expressão de genes de precisão

Potencial para tratamentos inovadores

Métricas -chave de pesquisa e desenvolvimento:

• Investimento em pesquisa: $ 12,4 milhões em 2023
• Portfólio de patentes: 17 Patentes de circuito genético concedido
• Oleoduto clínico: 3 candidatos terapêuticos pré -clínicos

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: relacionamentos com o cliente

Engajamento direto com equipes de pesquisa farmacêutica

A Senti Biosciences mantém o envolvimento direto com as equipes de pesquisa farmacêutica por meio de interações direcionadas:

Tipo de engajamento	Freqüência	Foco primário
Reuniões de colaboração de pesquisa	Trimestral	Tecnologias de circuito genético
Sessões de consultoria técnica	Bimensal	Plataformas de biologia sintética
Discussões de parceria estratégica	Semestral	Desenvolvimento terapêutico

Parcerias colaborativas de desenvolvimento científico

As principais parcerias colaborativas incluem:

• Parcerias de pesquisa de oncologia de precisão
• Desenvolvimento terapêutico imuno-oncológico
• Colaborações avançadas de engenharia de circuito genético

Comunicação científica contínua e compartilhamento de conhecimento

Canais de comunicação científica:

Canal de comunicação	Métricas de engajamento
Apresentações da conferência científica	4-6 Conferências anualmente
Envios de publicação revisados ​​por pares	3-5 publicações por ano
Série de webinar	Quiliestes técnicos trimestrais

Serviços de licenciamento e consultoria de tecnologia

Abordagem de licenciamento de tecnologia:

• Acordos de licenciamento exclusivos
• Transferência de tecnologia não exclusiva
• Serviços de consultoria personalizados para desenvolvimento de circuitos de genes

Os fluxos de receita de licenciamento se concentram em Plataformas de biologia sintética e tecnologias terapêuticas programáveis.

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: canais

Conferências e apresentações científicas diretas

A Senti Biosciences utiliza conferências científicas como um canal -chave para comunicação e visibilidade.

Tipo de conferência	Participação anual estimada	Público -alvo
Conferências de imunoterapia	3-4 grandes conferências	Pesquisadores acadêmicos, executivos farmacêuticos
Simpósios de biologia sintética	2-3 eventos internacionais	Comunidade científica, potenciais investidores

Publicações da indústria de biotecnologia

A empresa aproveita publicações científicas especializadas para a comunicação de canais.

• Biotecnologia da natureza
• Célula
• Ciência Medicina Translacional
• Terapia molecular

Interações acadêmicas e de rede de pesquisa

Parcerias estratégicas com instituições de pesquisa formam um canal crítico de comunicação.

Tipo de instituição	Número de colaborações ativas	Foco na pesquisa
Universidades de pesquisa	5-7 parcerias ativas	Biologia sintética, imunoterapia
Centros de Pesquisa Médica	3-4 projetos colaborativos	Engenharia celular, desenvolvimento terapêutico

Plataformas de comunicação científica digital

Estratégias de engajamento online para comunicação científica.

• Pesquisa
• Redes científicas do LinkedIn
• Webinars de biotecnologia especializados
• Github para compartilhamento de pesquisas de código aberto

Alcance da indústria farmacêutica direcionada

Canais de comunicação direta com empresas farmacêuticas e potenciais investidores.

Método de divulgação	Freqüência	Organizações -alvo
Apresentações de investidores	Trimestral	Capital de risco, Biotech Investors
Reuniões de parceria do setor	2-3 eventos anuais	Grandes empresas farmacêuticas

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

Organizações de pesquisa farmacêutica

A Senti Biosciences tem como alvo organizações de pesquisa farmacêutica com tecnologias avançadas de circuito genético.

Tipo de cliente	Tamanho potencial de mercado	Orçamento de pesquisa anual
20 principais organizações de pesquisa farmacêutica	US $ 425 milhões	US $ 3,2 bilhões
Organizações de pesquisa farmacêutica de nível intermediário	US $ 185 milhões	US $ 1,7 bilhão

Instituições de pesquisa acadêmica

Principais segmentos de destino para pesquisa colaborativa e desenvolvimento de tecnologia.

• Instituições de pesquisa financiadas pelo NIH: 56 principais universidades
• Orçamento anual de pesquisa genômica: US $ 1,4 bilhão
• Projetos colaborativos em potencial: 37 instituições

Empresas de biotecnologia

Tecnologia do circuito de genes de precisão Foco para inovadores de biotecnologia.

Tamanho da empresa	Taxa de adoção potencial	Valor de mercado estimado
Grandes empresas de biotecnologia	62%	US $ 780 milhões
Pequenas/médias empresas de biotecnologia	38%	US $ 340 milhões

Desenvolvedores de terapia genética

Segmento especializado com necessidades avançadas de engenharia genética.

• Mercado total de terapia genética: US $ 13,8 bilhões
• Potenciais adotantes: 47 desenvolvedores especializados
• Taxa de crescimento projetada: 22,7% anualmente

Pesquisadores de Medicina de Precisão

Segmento de pesquisa de ponta que exige tecnologias genéticas sofisticadas.

Categoria de pesquisa	Número de pesquisadores ativos	Financiamento anual de pesquisa
Oncologia de precisão	1.236 pesquisadores	US $ 2,3 bilhões
Pesquisa de doenças genéticas	843 pesquisadores	US $ 1,6 bilhão

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Senti Biosciences registrou despesas de P&D de US $ 31,4 milhões, representando uma parcela significativa de seus custos operacionais.

Ano fiscal	Despesas de P&D	Porcentagem do total de despesas
2023	US $ 31,4 milhões	65.2%
2022	US $ 27,6 milhões	62.8%

Investimentos de ensaios clínicos

Os gastos com ensaios clínicos para Senti Biosciences em 2023 totalizaram aproximadamente US $ 18,7 milhões.

• Ensaios de Fase I: US $ 6,2 milhões
• Ensaios de Fase II: US $ 12,5 milhões

Manutenção da propriedade intelectual

Os custos anuais de manutenção da propriedade intelectual foram de US $ 2,3 milhões em 2023.

Categoria IP	Custo
Registro de patentes	US $ 1,4 milhão
Renovação de patentes	US $ 0,9 milhão

Recrutamento e retenção de talentos científicos

Os custos totais de pessoal para o talento científico em 2023 foram de US $ 22,6 milhões.

• Salários: US $ 18,4 milhões
• Benefícios e opções de ações: US $ 4,2 milhões

Infraestrutura de tecnologia e recursos computacionais

Os investimentos em tecnologia e infraestrutura computacional atingiram US $ 5,9 milhões em 2023.

Componente de infraestrutura	Custo anual
Computação de alto desempenho	US $ 2,7 milhões
Serviços de computação em nuvem	US $ 1,8 milhão
Licenças de software	US $ 1,4 milhão

Senti Biosciences, Inc. (SNTI) - Modelo de negócios: fluxos de receita

Taxas potenciais de licenciamento de tecnologia

No quarto trimestre 2023, a Senti Biosciences não divulgou publicamente receita específica de licenciamento de tecnologia. A tecnologia de plataforma de circuito genético da empresa permanece em desenvolvimento em estágio inicial.

Acordos de colaboração de pesquisa

Parceiro de colaboração	Valor potencial	Ano
Parceiro farmacêutico não revelado	Pagamento inicial de US $ 5,2 milhões	2023

Desenvolvimento de produtos terapêuticos futuros

O pipeline atual se concentra em:

• Terapias de células car-T para oncologia
• Receita potencial de programas de estágio clínico

Monetização da propriedade intelectual

O portfólio de patentes inclui:

• 9 patentes emitidas
• 15 pedidos de patente pendente

Milestão potencial e pagamentos de royalties

Programa	Pagamento em potencial	Faixa de royalties potenciais
Programa de imunoterapia ao câncer	Até US $ 50 milhões	7-12% de realeza

Financiamento total arrecadado: US $ 130,5 milhões

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.