Sana Biotechnology after launching $75 mln stock deal

** Sana Biotechnology's SANA.O shares down 16.5% after hours to $3.53 as co seeks equity raise

** Seattle, Washington-based firm commences $75 mln offering comprising stock and pre-funded warrants

** Morgan Stanley, Goldman Sachs, BofA and TD Cowen are joint bookrunners

** Co, which develops engineered cells to treat diseases, plans to use net offering proceeds to support its preclinical and most advanced product candidates, per the prospectus

** With ~225.5 mln shares outstanding, it has about $960 mln market cap

** SANA shares on Weds edged down 0.2% to close at $4.25

** YTD, stock up 161%

** 7 of 8 analysts rate SANA "strong buy" or "buy", and 1 has "hold" rating and median PT is $9, LSEG data reflects