Sensei Biotherapeutics, Inc. (NASDAQ:SNSE), a clinical-stage biopharmaceutical company, reported on Thursday that Jessie English, PhD, has resigned from its Board of Directors, effective July 1, 2024. According to the company's filing with the Securities and Exchange Commission, Dr. English's decision to step down is due to personal reasons and is not related to any disagreements with the company's operations, policies, or practices.
The announcement came as part of a Form 8-K filing, a requirement for publicly traded companies to disclose significant events that shareholders should know about. The departure of a board member is considered a material event, hence the disclosure.
Dr. English's resignation will take effect next Monday. The company has yet to announce any plans regarding a replacement or changes to the board's composition following her departure.
Sensei Biotherapeutics is headquartered in Rockville, MD, and specializes in pharmaceutical preparations. It is recognized as an emerging growth company under the federal securities laws. The company has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
The filing with the SEC also confirmed that there are no compensatory arrangements between Dr. English and the company related to her resignation. The company's shares, including common stock and Series A Preferred Stock Purchase Rights, are listed on The Nasdaq Stock Market LLC.
The information regarding Dr. English's resignation is based on a press release statement filed by Sensei Biotherapeutics. The company's filing did not contain any additional details about the resignation or its implications for the company's strategy or operations going forward.
In other recent news, Sensei Biotherapeutics has been receiving considerable attention due to several developments. Citi has reinstated coverage of Sensei Biotherapeutics, assigning a Buy rating with a $4.00 price target. This follows the company's presentation of new efficacy data for their drug SNS-101 at the American Society of Clinical Oncology.
Concurrently, Stephens initiated coverage on Sensei Biotherapeutics with an Overweight rating and a $5.00 price target, highlighting the potential of the company's portfolio, especially the lead asset, SNS-101.
Sensei Biotherapeutics has also reported promising preliminary data from the dose escalation phase of its Phase 1/2 clinical trial for SNS-101. The drug is being tested both as a monotherapy and in combination with Libtayo, showing initial signs of clinical activity. Furthermore, Sensei Biotherapeutics announced the development of a novel antibody, SNS-101, which targets a protein known to suppress immune response in cancer patients, marking a significant step in cancer immunotherapy.
In corporate changes, Sensei Biotherapeutics announced the upcoming resignation of its Chief Financial Officer, Erin Colgan. The company is currently in the process of searching for a suitable replacement. These are the recent developments surrounding Sensei Biotherapeutics, as the company continues to progress with its clinical trials and corporate changes.
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