Sana Biotechnology Inc. Common Stock (SANA)

FairStock Score: 19/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor in the Buffett-Graham tradition, I start with what is proven, and Sana Biotechnology currently proves very little financially. It reports no revenue in fiscal 2023, fiscal 2024, fiscal 2025, or the 2026 quarters, and it lost $283.3 million in fiscal 2023, $266.8 million in fiscal 2024, and $244.2 million in fiscal 2025. The losses are narrowing—fiscal Q2 2026, the quarter ended 2026-06-30, showed a $63.6 million net loss and $0.22 diluted EPS, versus a $93.8 million net loss and $0.39 diluted EPS in fiscal Q2 2025—but this is still a cash-consuming research operation. Trailing free cash flow is negative $135.1 million, a FairStock-calculated FCF yield of negative 18.7% against the $721.5 million market cap. At the 2026-10-13 close of $2.41, FairStock shows a negative P/E of -3.21, P/B of 4.63, ROE of -152.87%, ROCE of -29.16%, and a debt-to-equity ratio of 0.52. The balance-sheet risk scores are poor: Piotroski F-score 2/9 and Altman Z-score -4.67. The FairStock score is 19/100, and the Lynch category is none because the company has lost money in each of the last four years. The business—engineered cell medicines for type 1 diabetes, B cell mediated autoimmune diseases, and oncology—could have enormous value if UP421 or SC451 succeed in the clinic, but that is a future option, not a present moat. I see no margin of safety in the numbers; the investment case rests almost entirely on clinical and financing outcomes.

In plain English: Sana Biotechnology is a healthcare company working on engineered cell medicines for diabetes, autoimmune diseases, and cancer. It has no reported revenue and has lost money in each of the last four years, including a net loss of $244.2 million in fiscal 2025. At $2.41, the price is not supported by current profits and looks speculative rather than cheap or fairly valued on today’s numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer