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Dec 31, 2019
Sangamo Q4 2019 Earnings Report
Reported consolidated net income and revenue increase driven by milestone payments.
Key Takeaways
Sangamo Therapeutics reported a net income of $4.6 million for Q4 2019, a significant turnaround from the $18.7 million net loss in the same period of 2018. Revenue also increased to $54.9 million, driven by milestone payments from Pfizer and Sanofi.
Transferred IND for SB-525 hemophilia A gene therapy to Pfizer, triggering a $25 million milestone payment.
Achieved $7.5 million milestone from Sanofi for first patient dosed in sickle cell disease trial.
Announced a global collaboration agreement with Biogen to develop and commercialize gene regulation therapies for neurodegenerative diseases.
Received Orphan Drug Designation from the European Medicines Agency for ST-920 for Fabry disease.
Sangamo
Sangamo
Forward Guidance
Sangamo expects total operating expenses to be in the range of $270 to $285 million in 2020 on a GAAP basis.
Positive Outlook
- Advancing wholly owned assets, ST-920 gene therapy for Fabry disease and TX200 CAR-Treg cell therapy, in the clinic.
- Collaborating with Kite on KITE-037, an anti-CD19 allogeneic CAR-T therapy, in a Phase 1/2 clinical trial.
- Advancing new IND targets in prevalent diseases, including through the Biogen collaboration.
- Pursuing additional synergistic partnership opportunities.
- Pfizer plans to commence the registrational study for SB-525 this year.
Challenges Ahead
- Dependence on the success of clinical trials.
- Lengthy and uncertain regulatory approval process.
- Risks related to the initiation, enrollment, and completion of clinical trials.
- Reliance on partners and third parties to meet obligations.
- Ability to maintain strategic partnerships and collaborations.