Finance & Science: Two Sides of the Same Coin
The path to bringing a novel cancer immunotherapy to patients is marked by countless decisions, big and small, the vast majority of which concern either science or money. I recently had the pleasure of chatting with Sensei’s CFO, Erin Colgan, about the all-important but often misunderstood relationship between these two integral components in the success of a clinical stage biotech company.
In our conversation, Erin and I take a walk down memory lane to a financial event that has shaped Sensei’s clinical progress – our February 2021 IPO. The two of us began laying the groundwork for the IPO during the grim and unusual COVID summer of 2020, slogging through long monastic days full of Zoom meetings. The pandemic did not hamper her progress, however, and Erin got the job done in just about six months. As she will tell you in detail herself when you listen, the thoughtfully timed IPO she spearheaded has enabled us to enter the clinic with SNS-101 this year while maintaining cash runway into H2 2025.
While Sensei researchers have navigated the scientific path to SNS-101, having the financial resources to reach patients with our innovative therapeutic antibody has always rested in Erin’s hands. We are so excited to be making steady progress, with the first trial patient dosed in early June. Having Erin to keep us on track, we continue to feel optimistic about our vision of creating new immunotherapy options for patients who are unable to benefit from current lines of treatment.
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this article and interview that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words and phrases such as “believe,” “designed to,” “expect,” “may,” “plan,” “potential,” “will” and similar expressions, and are based on Sensei’s current beliefs and expectations. These forward-looking statements include expectations regarding the development of SNS-101; the potential safety profile of SNS-101; the potential benefits and efficacy of SNS-101; and the Company’s belief that its existing cash and cash equivalents will be sufficient to fund its operations at least into the second half of 2025. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the development of therapeutic product candidates, such as the risk that any one or more of Sensei’s product candidates, including SNS-101, will not be successfully developed or commercialized; the risk of delay or cessation of any planned clinical trials of Sensei’s product candidates, including SNS-101; the risk that prior results, such as signals of safety, activity or durability of effect, observed from preclinical studies, including the preclinical studies of SNS-101, will not be replicated or will not continue in ongoing or future studies or clinical trials involving Sensei’s product candidates; the risk that Sensei’s product candidates, including SNS-101, or procedures in connection with the administration thereof will not have the safety or efficacy profile that Sensei anticipates; risks associated with Sensei’s dependence on third-party suppliers and manufacturers, including sole source suppliers, over which Sensei may not always have full control; risks regarding the accuracy of Sensei’s estimates of expenses, capital requirements and needs for additional financing; and other risks and uncertainties that are described in Sensei’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) on May 9, 2023 and Sensei’s other Periodic Reports filed with the SEC. Any forward-looking statements speak only as of the date of this article and interview and are based on information available to Sensei as of the date of this article and interview, and Sensei assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.