Sensei pivots to acquired PIKTOR cancer drug after 65% workforce cut, $200M raise

Filed March 30, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 28, 2025 · ~2 min read

Key Changes

• high

  Completed acquisition of Faeth Therapeutics in Feb 2026, bringing in PIKTOR (oral PI3K/AKT/mTOR inhibitor) and raising $200M from leading life sciences funds. PIKTOR now replaces solnerstotug as lead program, targeting pathway dysregulated in 50% of solid tumors.

  Business: Faeth acquisition verify on EDGAR →
• high

  Phase 2 endometrial cancer trial ongoing with topline data expected year-end 2026; Phase 1b breast cancer trial planned for H1 2026. Management believes $200M financing extends runway through these key clinical milestones.

  MD&A: PIKTOR trials verify on EDGAR →
• high

  Stockholder approval required to convert Series B Preferred Stock (24,937 shares converting to 1,000 common each) and increase authorized shares. Failure triggers potential cash settlement obligations that could materially harm operations.

  Risk Factors: Series B conversion verify on EDGAR →