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Jun 30, 2020
Sangamo Q2 2020 Earnings Report
Reported second quarter 2020 financial results and recent business highlights.
Key Takeaways
Sangamo Therapeutics reported a net loss of $35.9 million, or $0.26 per share, for the second quarter ended June 30, 2020. Revenues for the quarter were $21.6 million. The company's cash, cash equivalents, and marketable securities totaled $664.9 million as of June 30, 2020.
Announced global collaboration agreement with Novartis to develop and commercialize gene regulation therapies.
Sangamo expects to receive a $75 million upfront licensing fee from Novartis in the third quarter of 2020.
Presented updated results from the Phase 1/2 Alta study in partnership with Pfizer.
Announced organizational changes in R&D to increase the speed and efficiency of clinical translation.
Forward Guidance
Sangamo revised its operating expense guidance for 2020, expecting GAAP operating expenses to be in the range of $235 million to $250 million and non-GAAP operating expenses to be in the range of $210 million to $225 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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