Sana Biotechnology, Inc. (SANA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 8.44% of current shares
Recent Dilution: 22.09% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
280M
Potential Supply
23M
Additional shares possible
Splits
None
Past 2 years

Summary

SANA currently has 277M outstanding shares. with limited dilution risk as only 23.4M additional shares (8.4%) are authorized for issuance. The company has diluted shareholders by 22.09% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 276.9M shares outstanding

280M 23M
Apr 13, 2026

8-K filing: Sana Biotechnology, Inc. entered into a stock purchase agreement with Mayo Clinic to sell 7,507,507 shares of common stock at $3.33 per share, for gross proceeds of approximately $25.0 million, with a potential for an additional 7,507,507 shares at the same price if elected by Mayo Clinic. ($50.0M proceeds)

260M 23M
Nov 06, 2025

10-Q filing | 260.5M shares outstanding

260M 23M
Aug 11, 2025

10-Q filing | 238.4M shares outstanding

240M 23M
May 08, 2025

8-K filing: Sana Biotechnology entered into a sales agreement with TD Securities (USA) LLC to sell up to $119.0 million of common stock through an at-the-market offering program, and terminated its prior sales agreement with TD Cowen under which approximately 4.9 million shares were sold for gross proceeds of approximately $30.6 million. ($30.6M proceeds)

230M 23M
May 08, 2025

10-Q filing | 237.6M shares outstanding

240M 23M
Mar 17, 2025

POS AM filing: Sana Biotechnology, Inc. files a POS AM for a mixed shelf offering of common stock, preferred stock, debt securities, depositary shares, warrants, subscription rights, purchase contracts and units, with an aggregate offering price not to exceed $350,000,000.

240M 23M
Mar 17, 2025

10-K filing | 230.9M shares outstanding

230M 23M
Nov 08, 2024

10-Q filing | 235.4M shares outstanding

240M 23M
Aug 08, 2024

10-Q filing | 234.4M shares outstanding

230M 23M
May 08, 2024

10-Q filing | 217.3M shares outstanding

220M 23M
Feb 29, 2024

10-K filing | 220.4M shares outstanding

220M 23M
Nov 08, 2023

10-Q filing | 197.0M shares outstanding

200M 23M
Aug 03, 2023

10-Q filing | 192.5M shares outstanding

190M 23M
May 08, 2023

10-Q filing | 191.2M shares outstanding

190M 23M
Mar 16, 2023

POS AM filing: Sana Biotechnology, Inc. may offer and sell up to $350,000,000 in the aggregate of common stock, preferred stock, and debt securities from time to time in one or more offerings.

190M 23M
Mar 16, 2023

10-K filing | 188.3M shares outstanding

190M 23M
Nov 02, 2022

10-Q filing | 189.3M shares outstanding

190M 23M
Aug 04, 2022

10-Q filing | 187.6M shares outstanding

190M 23M
May 10, 2022

10-Q filing | 189.7M shares outstanding

190M 23M
Mar 16, 2022

10-K filing | 189.5M shares outstanding

190M 23M
Nov 08, 2021

10-Q filing | 188.8M shares outstanding

190M 23M
Aug 04, 2021

10-Q filing | 190.5M shares outstanding

190M 23M
May 05, 2021

10-Q filing | 187.7M shares outstanding

190M 23M
Feb 03, 2021

S-1/A filing: This S-1/A filing is for an initial public offering of common stock.

160M 23M
Feb 02, 2021

S-1/A filing: This S-1/A filing details an offering of common stock with an underwriters' over-allotment option. The company intends to use the net proceeds from this offering, together with our existing cash, cash equivalents and marketable securities, to fund the ongoing development of our _in vivo_ cell engineering platform and product candidates, which we anticipate will allow us to complete preclinical studies on each of our current product candidates and advance at least three _in vivo_ product candidates through human proof of concept studies; to fund the ongoing development of our _ex vivo_ cell engineering platform and product candidates, which we believe will allow us to complete preclinical studies on each of our current product candidates and advance at least three _ex vivo_ product candidates through human proof of concept studies; to fund research efforts focused on advancing and broadening the scope of our _ex vivo_ and _in vivo_ cell engineering platforms; to continue developing manufacturing capabilities for our product candidates; and the remainder, if any, for working capital and other general corporate purposes.

160M 17M
Jan 28, 2021

S-1/A filing: This S-1/A filing includes information on a common stock offering of 15,000,000 shares with an underwriter's over-allotment option of 2,250,000 shares, resulting in 175,314,776 to 177,564,776 shares outstanding after the offering.

160M 16M
Jan 13, 2021

S-1 filing: This is an S-1 filing for an initial public offering of common stock.

640M 0
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