Loading...
•
Mar 31, 2020
Sangamo Q1 2020 Earnings Report
Reported first quarter 2020 financial results and business highlights.
Key Takeaways
Sangamo reported a net loss of $42.9 million, or $0.37 per share, for the first quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $363.1 million as of March 31, 2020. They closed a collaboration agreement with Biogen, receiving $225 million in stock sale proceeds and an additional $125 million upfront license fee.
Closed collaboration agreement with Biogen for development of gene regulation therapies, receiving $225 million in stock and $125 million upfront.
Executed a collaboration and exclusive global license agreement with Mogrify Ltd to develop allogeneic cell therapies.
Pfizer continues to target dosing the first patient in the Phase 3 hemophilia A gene therapy study in the second half of 2020.
Successfully screened and enrolled the first several patients into the Phase 1/2 STAAR study for Fabry disease.
Sangamo
Sangamo
Forward Guidance
Sangamo reiterated its financial guidance for 2020, initially provided on February 28, 2020.
Positive Outlook
- Expect operating expenses in the range of $270 million to $285 million on a GAAP basis.
- Stock-based compensation expense of approximately $25 million is included in the operating expenses.
- Expect non-GAAP operating expenses in the range of $245 million to $260 million.
- Non-GAAP operating expenses excludes stock-based compensation expense.