Sensei Biotherapeutics is laying off 46% of its workforce as the cancer-focused biotech looks to preserve cash to take its immune checkpoint inhibitor through phase 2.
The asset in question, dubbed SNS-101, is designed to block the V-domain Ig suppressor of T cell activation (VISTA) checkpoint selectively within the low pH tumor microenvironment. The antibody is currently undergoing a phase 1/2 trial as a monotherapy and in combination with Regeneron’s PD-1 inhibitor Libtayo in patients with resistance to PD-1 inhibitors.
That study is due to read out in the first half of 2025, and Sensei is now looking ahead to a phase 2 trial. But with only $47 million to hand in cash and equivalents, the biotech has been working out ways to make its cash last longer.
As a result, the company has moved to close its research site in Rockville, Maryland, and reduce its headcount by around 46%, with its preclinical R&D group bearing the brunt of the layoffs. This restructuring should allow the company to fund operations into the second quarter of 2026, Sensei explained in a third-quarter earnings release.
“We believe SNS-101 has disruptive potential for the treatment of a multitude of cancer indications and for this reason, we are making the difficult decision to reduce our headcount to focus our resources on advancing the clinical development of SNS-101,” CEO John Celebi said in a statement.
“We look forward to sharing a clinical update focused primarily on the activity profile of SNS-101 and additional details about the design of phase 2 studies,” Celebi added.
Sensei went public in 2021 in a $133 million IPO. At the time, the biotech’s pipeline was headed up by a clinical-stage vaccine that targeted the tumor antigen aspartate beta hydroxylase in order to treat head and neck cancer. However, within months, the company had discontinued development of that asset after viewing trial data.