On Monday, Citi resumed coverage of Sensei Biotherapeutics (NASDAQ:SNSE) with a Buy rating, and a price target set at $4.00. The firm had previously suspended its rating but now sees the biotech company as a Buy/High Risk investment. This comes following Sensei's presentation at the American Society of Clinical Oncology (ASCO), where they shared new efficacy data for their drug SNS-101.
Sensei Biotherapeutics recently showcased dose-escalation efficacy results for SNS-101 as a monotherapy and in combination with Libtayo at a prestigious oncology conference. In the study involving SNS-101 monotherapy, 44% of patients, which equates to 7 out of 16, achieved stable disease (SD). Meanwhile, in the combination cohort with Libtayo, 1 patient out of 18 achieved a partial response (PR), and 5 patients reached stable disease, with one of these patients experiencing a 27% tumor regression.
The safety profile of SNS-101 was also highlighted, indicating a tolerable level of safety with only two instances of Grade 1 cytokine release syndrome (CRS), which were managed without the need for steroids or tocilizumab. These results, although preliminary, suggest initial signs of clinical activity for SNS-101.
Sensei Biotherapeutics is actively enrolling patients with multiple types of tumors into dose expansion cohorts to further assess the efficacy of SNS-101. The company expects to publish more data in the fourth quarter of 2024. Citi notes the potential of SNS-101 in treating various tumor types, due to the broad expression profile of VISTA, a target of SNS-101.
Citi has expressed optimism about the future clinical potential of SNS-101, with anticipation for additional data to be released later in the year that may provide further clarity on the drug's efficacy. The investment firm continues to monitor Sensei Biotherapeutics as it progresses with its clinical trials.
InvestingPro Insights
Following the renewed coverage by Citi and their optimistic outlook on Sensei Biotherapeutics, a glance at the InvestingPro platform offers additional insights into the company's financial health and market performance. Notably, Sensei Biotherapeutics holds more cash than debt on its balance sheet, which can be a positive sign for investors looking for companies with solid financial footing. However, it's important to note that the company is quickly burning through cash and has weak gross profit margins, as per InvestingPro Tips.
From a valuation standpoint, Sensei's market capitalization stands at a modest $17.31 million, and the stock has experienced significant volatility with a 1-month price total return showing a steep decline of -58.68%. The company has not been profitable over the last twelve months, and analysts do not anticipate it will be profitable this year. These factors underscore the high-risk nature of the investment, aligning with Citi's designation of Sensei Biotherapeutics as a Buy/High Risk investment. Additionally, Sensei does not pay a dividend, which may be a consideration for income-focused investors.
For those looking to delve deeper into Sensei Biotherapeutics' financials and market performance, InvestingPro offers additional tips. There are 6 more InvestingPro Tips available that could provide further guidance for investors considering this stock. To access these tips and more detailed analytics, visit https://www.investing.com/pro/SNSE and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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