Sangamo Q1 2023 Earnings Report
Key Takeaways
Sangamo Therapeutics announced a strategic pipeline prioritization and corporate restructuring, including a US workforce reduction of approximately 27%. The company is focusing on Nav 1.7 and Prion, Fabry Phase 3 readiness, and the TX200 CAR-Treg clinical study. First quarter revenues are estimated at $158.0 million, compared to $28.2 million for the same period in 2022. Cash, cash equivalents and marketable securities were $241.0 million as of March 31, 2023.
Continued clinical momentum in Phase 1/2 STAAR study in Fabry disease with 20 patients dosed in total.
Dosed third patient in cohort 1 of Phase 1/2 CAR-Treg STEADFAST study for TX200 in HLA A2 mismatched kidney transplantation.
Unveiled Nav1.7 target to treat chronic neuropathic pain as flagship program of wholly owned neurology epigenetic regulation pipeline, with IND submission expected in 2024.
Announced strategic pipeline prioritization and corporate restructuring, including US workforce reduction of approximately 27%.
Sangamo
Sangamo
Forward Guidance
Sangamo revised its full-year operating expense guidance.