Sana Biotechnology Inc (SANA)

[JKhay]

Steve Harr just presented at Jefferies Global Healthcare Conference on June 4 2025. Basically, the presentation asserted that the company's efforts are bearing fruit according to expectation. He clearly acknowledges that additional funding will be necessary but that has been no secret and is typical of biotech startups. The most interesting items were that Sana (1) will be presenting 6 months results on its SC451 project outcomes on June 23 and (2) expects to have a major journal article published around these results before long. If the six month results are in line with the already published 4,8, and 12 week results, this could be significant. All and all, I was impressed by Harr's command of the facts. For the most part he was able to make the science clear and understandable although he seemed a little blurry when talking about the CAR process. All and all I was impressed by the presentation. It came off as long on fact and short on hype. Sana is a speculation, no doubt. As such, it could go to zero, it could also do quite well.