**Sensei Biotherapeutics, Inc. Announces Acquisition and Reports Fiscal Year 2025 Results**
Sensei Biotherapeutics, Inc., a clinical-stage biotechnology company, announced the completion of its acquisition of Faeth Therapeutics on February 17, 2026. The acquisition brings Faeth's lead asset, PIKTOR, an investigational oral combination therapy targeting the PI3K/AKT/mTOR pathway, into Sensei's pipeline. In conjunction with the acquisition, Sensei secured $200 million in gross proceeds through a private placement to advance PIKTOR through key clinical milestones. The company's primary focus is now on the development of PIKTOR for endometrial and breast cancer, with topline data from an ongoing Phase 2 trial in endometrial cancer expected by the end of 2026 and a Phase 1b trial in breast cancer planned for the first half of 2026.
For the fiscal year 2025, Sensei Biotherapeutics reported a net loss of $21.1 million, compared to a net loss of $30.2 million in 2024. Research and development expenses decreased to $11.0 million from $18.6 million in the previous year, primarily due to reduced personnel costs and lower expenses related to clinical trials and manufacturing. General and administrative expenses also decreased to $11.3 million from $13.0 million, mainly due to lower personnel costs. The company did not record any long-lived asset impairment charges in 2025, while it recorded $1.0 million in such charges in 2024.
Key operational developments include the ongoing Phase 2 trial (FTH-PIK-201) evaluating PIKTOR in advanced endometrial cancer, which has enrolled 40 patients with a confirmed PI3K/AKT/mTOR pathway mutation. The company anticipates topline data from this trial by year-end 2026. Additionally, Sensei plans to initiate a Phase 1b trial (FTH-PIK-101) of PIKTOR in advanced HR+/HER2- breast cancer in the first half of 2026, with interim data expected in 2027 and expansion cohort data in 2028. As of March 23, 2026, the company had 29 full-time employees, including 23 employees who joined in connection with the acquisition of Faeth.
Looking ahead, Sensei Biotherapeutics intends to establish PIKTOR's therapeutic proof of concept in endometrial cancer and broaden its development into advanced breast cancer. The company also plans to explore PIKTOR's potential as a first-line treatment and may pursue development in additional indications, including ovarian cancer and genetically defined subtypes of lung cancer. Sensei's management believes that its existing cash and cash equivalents, together with the proceeds from the 2026 Private Placement, will be sufficient to fund its operating expenses and capital expenditure requirements through the key clinical milestones for PIKTOR.
About Sensei Biotherapeutics, Inc.
Sensei Biotherapeutics is a clinical-stage biotech focused on developing next-generation cancer immunotherapies. Using its TMAb platform, it creates highly selective biologics that modulate the tumor microenvironment by targeting immune checkpoints like VISTA. Its products aim to enhance anti-tumor immune responses, often in combination with existing therapies, serving patients with various solid tumors through innovative, tumor-specific mechanisms.
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