INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Sana Biotechnology

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Sana Biotechnology, Inc. due to allegations of misleading statements regarding the company's financial health and product development, with a deadline for investors to seek lead plaintiff status in a federal securities class action by May 20, 2025 [4][6]. Group 1: Allegations Against Sana - The complaint alleges that Sana and its executives violated federal securities laws by making false or misleading statements about the company's financial stability and product candidates [6]. - Specific claims include that Sana was at significant risk of insufficient funds to maintain operations and that key product candidates were less promising than previously stated [6]. - The company is accused of overstating its financial capacity and failing to disclose plans to reduce funding for certain projects and significantly cut its workforce [6]. Group 2: Recent Developments - On October 10, 2023, Sana announced a reduction in spending on its fusogen platform and a 29% headcount reduction, aiming to keep its 2024 operating cash burn below $200 million [7][8]. - Following this announcement, Sana's stock price fell by$0.34 per share, or 8.95%, closing at $3.46 per share on October 11, 2023 [8]. - On November 4, 2024, Sana announced the suspension of development for SC291 and SC379, reallocating resources to its type 1 diabetes program, which led to a further stock price decline of$0.37 per share, or 9.84%, closing at $3.39 per share on November 5, 2024 [9].