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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.