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Mar 31, 2024
Sangamo Q1 2024 Earnings Report
Sangamo's Q1 2024 financial results were reported, highlighting progress in neurology-focused genomic medicine pipeline and financial updates.
Key Takeaways
Sangamo Therapeutics reported a net loss of $49.1 million for Q1 2024, compared to a net income of $21.1 million for the same period in 2023. Revenues decreased to $0.5 million from $158.0 million year-over-year, primarily due to the termination of collaboration agreements. The company's cash and cash equivalents totaled $54.4 million as of March 31, 2024.
Showcased 20 presentations at ASGCT demonstrating progression of neurology-focused preclinical pipeline.
Announced discovery of novel next-generation modular integrase (MINT) platform for large-scale genome editing.
Completed dosing in Phase 1/2 STAAR study of isaralgagene civaparvovec for Fabry disease and engaged in collaboration discussions.
Pfizer anticipates BLA and MAA submissions for Hemophilia A collaboration in early 2025 if mid-2024 pivotal readout is supportive.
Forward Guidance
Sangamo expects total operating expenses to be between $145 million and $165 million on a GAAP basis and between $125 million and $145 million on a non-GAAP basis for 2024, subject to additional funding.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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