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