Faeth Therapeutics Inc 2026年季度报告

Faeth Therapeutics, Inc.(Exact name of Registrant as specified in its Charter) Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days. YES☒NO☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required tosubmit such files). YES☒NO☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES☐NO☒As of July 30, 2026, the registrant had 25,840,425 shares of common stock, $0.0001 par value per share, outstanding. Table of Contents PART IFINANCIAL INFORMATIONItem 1.Condensed Consolidated Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 20251Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six monthsended June 30, 2026 and 20252Condensed Consolidated Statements of Redeemable Convertible Preferred Stock, Common Stock andStockholders’Equity for the three and six months ended June 30, 2026 and 20253Condensed Consolidated Statements of Cash Flows for the three and six months ended June 30, 2026 and20254Notes to Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3.Quantitative and Qualitative Disclosures About Market Risk29Item 4.Controls and Procedures29 PART IIOTHER INFORMATIONItem 1.Legal Proceedings30Item 1A.Risk Factors30Item 2.Unregistered Sales of Equity Securities and Use of Proceeds76Item 3.Defaults Upon Senior Securities76Item 4.Mine Safety Disclosures76Item 5.Other Information76Item 6.Exhibits76Signatures78 FAETH THERAPEUTICS, INC.CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK,COMMON STOCK AND STOCKHOLDERS’ EQUITY(Unaudited)(In thousands, except share data) For the six months ended June 30, 2026 and 2025 FAETH THERAPEUTICS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands) FAETH THERAPEUTICS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. ORGANIZATION AND OPERATIONS Business Faeth Therapeutics, Inc. (formerly known as Sensei Biotherapeutics, Inc.) (the "Company"), a clinical-stage biotechnologycompany, was originally incorporated in Maryland in 1999 and subsequently reincorporated in Delaware on December 1, 2017. On February 17, 2026, the Company acquired Faeth Holdings Therapeutics, Inc. ("Faeth HoldCo") and its wholly ownedsubsidiary Faeth Therapeutics, LLC ("Faeth Subsidiary" and, together with Faeth HoldCo, "Legacy Faeth") pursuant to anAgreement and Plan of Merger (the "Merger Agreement"), dated as of February 17, 2026, by and among the Company, its mergersubsidiaries and Legacy Faeth (such transaction, the "Acquisition"). Effective June 15, 2026, the Company changed its name from Sensei Biotherapeutics, Inc. to Faeth Therapeutics, Inc. TheCompany is focused on improving outcomes for cancer patients through multi-node inhibition of critical oncogenic pathways. Liquidity and capital resources Since its inception, the Company has devoted substantially all of its resources to advancing development of its portfolio ofprograms, establishing and protecting its intellectual property, conducting research and development activities, organizing andstaffing the Company, business planning, raising capital and providing general and administrative support for these operations. TheCompany is subject to risks and uncertainties common to early-stage companies in the biotechnology industry including, but notlimited to, technical risks associated with the successful research, development and manufacturing of product candidates,development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology,compliance with government regulations and the ability to secure additional capital to fund opera