SANA BIOTECHNOLOGY, INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) – Marketscreener.com

You should read the following discussion and analysis of our financial conditionand results of operations together with our unaudited condensed consolidatedfinancial statements and the related notes included elsewhere in this QuarterlyReport and our audited consolidated financial statements and notes thereto andthe related Management's Discussion and Analysis of Financial Condition andResults of Operations included as part of our Annual Report on Form 10-K asfiled with the SEC on March 16, 2022 (2021 Annual Report). This discussion andanalysis and other parts of this Quarterly Report contain forward-lookingstatements that are based upon current beliefs, plans and expectations relatedto future events and our future financial performance that involve risks,uncertainties, and assumptions, such as statements regarding our intentions,plans, objectives, and expectations for our business. Our actual results and thetiming of selected events could differ materially from those described in orimplied by these forward-looking statements as a result of numerous factors,including those set forth in the section titled "Risk Factors." See also thesection titled "Special Note Regarding Forward-Looking Statements."

Overview

range of therapeutic areas. We are in the early stages of development across abroad pipeline of product candidates, all of which are currently in thepreclinical stage of development and are summarized below:

COVID-19 business update

Acquisitions

License and collaboration agreements

Success payments and contingent consideration

Cobalt success payment and contingent consideration

Components of operating results

Operating expenses

Research and development

Research and development related success payments and contingent consideration

General and administrative

Results of operations

Comparison of the three months ended March 31, 2022 and 2021

Research and development expenses

The following table summarizes the components of our research and developmentexpenses for the periods presented:

$ 41,880 $ 30,809

an increase of $11.2 million in personnel-related expenses, including an

increase in non-cash stock-based compensation of $3.0 million, which was

an increase of $9.1 million in research, development, and laboratory

costs, including third-party manufacturing costs, laboratory supplies, and

other external research expenses;

an increase of $5.3 million in facility and allocated costs, including

an increase of $4.9 million related to licensing technology for our CD22

and BCMA programs.

Research and development related success payments and contingent consideration

$ 127,050 $ (182,488 )

General and administrative Expenses

Liquidity, capital resources, and capital requirements

Sources of liquidity

Future funding requirements

Our future capital requirements will depend on many factors, including:

the scope, timing, progress, costs, and results of discovery, preclinical

the number and scope of clinical trials required for regulatory approval

of our current or future product candidates;

the costs, timing, and outcome of regulatory review of our current or

future product candidates;

the cost associated with building our manufacturing capabilities, as well

as costs associated with the manufacturing of clinical and commercial

supplies of our current and future product candidates;

the costs and timing of future commercialization activities, including

manufacturing, marketing, sales, and distribution, for any of our product

applications, maintaining and enforcing our intellectual property rights,

and defending any intellectual property-related claims, including any

claims by third parties that we are infringing upon their intellectual

collaborations, licensing, or other arrangements and the financial terms

of any such agreements, including the timing and amount of any future

milestone, royalty, or other payments due under any such agreement;

the revenue, if any, received from commercial sales of our product

our ability to establish a commercially viable pricing structure and

obtain approval for coverage and adequate reimbursement from third-party

and government payors;

potential interruptions or delays resulting from factors related to the

the extent to which we acquire or invest in businesses, products, and

technologies.

Cash flows

The following table summarizes our cash flows for the periods indicated:

Financing activities

Contractual obligations and commitments

The following table summarizes our significant contractual obligations andcommitments as of March 31, 2022:

Off-balance sheet arrangements

Since our inception, we have not engaged in any off-balance sheet arrangementsas defined under the rules and regulations of the SEC.

JOBS Act accounting election

Critical accounting policies and significant judgements and estimates

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SANA BIOTECHNOLOGY, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) - Marketscreener.com