NEW YORK CITY, NY / ACCESSWIRE / November 14, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Sana Biotechnology, Inc. ("Sana" or the "Company") (NASDAQ:SANA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Sana and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 4, 2024, Sana issued a press release announcing that it "will suspend development of both SC291 in oncology and of SC379, its glial progenitor cell program, as it seeks partnerships for these programs". In the press release, Steve Harr, Sana's President and Chief Executive Officer stated that "we need to ensure that we are directing our investments into the areas where we believe we can have the greatest impact for patients" and that "[t]his modified strategy will also help us reduce our cash burn but comes with the necessity of parting with some talented and valued colleagues."
On this news, Sana's stock price fell $0.37 per share, or 9.84%, to close at $3.39 per share on November 5, 2024.
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SOURCE: Pomerantz LLP