SNSE - Sensei to shut Boston research site cut workforce by ~40%

Sensei Biotherapeutics ( NASDAQ: SNSE ) said it will close its research site in Boston and reduce its total workforce by ~40%.

The company added that it will focus resources on its key programs, including its lead antibody SNS-101, and other TMAb (Tumor Microenvironment Activated biologics) platform programs.

Sensei expects that reduction in operating expenses, including costs related to employees and occupancy, will extend its estimated cash runway into H2 of 2025.

The company added that it will maintain its Rockville, Maryland research facility, where antibody discovery and production in support of SNS-101 and other TMAb programs is conducted, while maintaining a smaller office in the Boston area. Sensei plans to relocate any ongoing work at its Boston research site to its Rockville facility.

"As we continue to progress the development of SNS-101 towards an IND in the coming months, we have made the strategic decision to reduce our early-stage R&D expenses related to certain discovery stage targets to more closely align with our strategic and financial goals," said Sensei President and CEO John Celebi.

In addition, Sensei said Chief R&D Officer Robert Pierce has moved to a consulting role as a Science Fellow, effective Dec. 7.

Meanwhile, Edward van der Horst, senior vice president, Biologics Discovery & Early Development, has been promoted to chief scientific officer, effective Dec. 7.

Sensei noted that it continues to advance SNS-101 through investigational new drug-enabling studies and plans to file an investigational new drug application (IND) by April 2023.

The company plans to continue work on its discovery-stage programs targeting VSIG-4 and ENTPDase1, also known as CD39.

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