Sana joins Nasdaq with blockbuster $587M IPO
Dan Primack at Axios, who pegged the post IPO valuation at $4.9 billion, noted that Sana is “the largest-ever IPO for a preclinical biotech company.”The stock will begin trading today on Nasdaq under the ticker SANA. While Sana says its gene editing technology will be applicable to a number of diseases, some of its most advanced research is being done around cancer. However, gene editing is not accepted by some, a risk factor that Sana points out in its IPO filing. If those perceptions take root, Sana notes that some government agencies may restrict treatments that utilize gene editing, or medical professionals may not prescribe it. As GeekWire reported earlier this week, Sana is unique in that the IPO is coming less than three years after it was founded.