Investors Pull Plug on SANA After Research Bombshell

When Sana announced it ran out of cash to research its cancer drugs, investors ran out of patience. Investors dumped their shares, causing Sana's stock price to fall 10%. Now, Sana's shareholders are fighting back with a class-action.

In 2023, Sana had three major drug candidates, including two cancer-fighting agents. Sana told investors it had enough cash on hand to fund research for at least a few years. It also told investors it was making major strides in its research and started a Phase 1 trial on one of the drugs.

In reality, Sana was bleeding cash. By late 2023, the Company halted research on one of the drugs, claiming that would help it continue the other two.

But that wasn't enough. In November 2024, Sana dropped a bombshell: it pulled the plug on the other two drugs altogether because it was cash-strapped.

Angry investors dumped their shares, causing Sana's stock to plummet. Now, some of those investors are joining the lawsuit.