Sangamo Therapeutics Reports Second Quarter 2018 Financial Results
"In the first half of 2018 we made strong progress on important initiatives including our clinical development programs and execution of a significant collaboration with Kite-Gilead for the use of ZFNs for engineered cell therapies in oncology," said
Macrae continued: "Today we announced positive preliminary data from the Alta clinical trial evaluating SB-525 gene therapy for hemophilia A. These are the first efficacy data from our clinical programs using AAV6. We are looking forward to the
Recent Highlights
Corporate
- Announced the proposed acquisition of
TxCell , positioning Sangamo as a leader in CAR-Treg development - Appointed
Karen Smith , M.D., Ph.D., to the Board of Directors, andEdward Rebar , Ph.D., as Senior Vice President and Chief Technology Officer
Clinical
- Today announced positive preliminary data from the Phase 1/2
Alta Study evaluating SB-525 gene therapy for hemophilia A - Treated the fifth and sixth patients in the SB-913 Phase 1/2 CHAMPIONS Study for MPS II
- Treated the first patient in the SB-318 Phase 1/2 EMPOWERS Study for MPS I
- Received Clinical Trial Authorisation (CTA) in the
U.K. for enrollment of subjects into ongoing Phase 1/2 clinical trials evaluating SB-318 and SB-913 - Enrolled the first patient in the Phase 1/2 Thales Study evaluating ST-400 gene-edited cell therapy for the treatment of beta-thalassemia
Research
- Delivered three oral and four poster presentations during the 21st Annual Meeting of the
American Society of Gene & Cell Therapy (ASGCT) held inChicago, IL fromMay 16-19, 2018
Second Quarter Ended
For the second quarter ended
Revenues for the second quarter ended
Total operating expenses for the second quarter ended
Financial Guidance for 2018
Sangamo will provide updated guidance on expected operating expenses in future quarterly reporting periods. The Company updates cash guidance as follows:
- Cash and Investments: Sangamo expects a
December 31, 2018 balance of cash, cash equivalents, marketable securities and interest receivable of at least$380 million . This anticipated cash balance is inclusive of research funding from existing collaborators and recent financings.
Conference Call
Sangamo will host a conference call today,
The conference call dial-in numbers are (877) 377-7553 for domestic callers and (678) 894-3968 for international callers. The conference ID number for the call is 7179826. For those unable to listen in at the designated time, a conference call replay will be available for one week following the conference call, from approximately
About Sangamo
Forward-Looking Statements
This press release contains forward-looking statements regarding Sangamo's current expectations. These forward-looking statements include, without limitation, the expectation of the acquisition by Sangamo of
SELECTED CONSOLIDATED FINANCIAL DATA |
|||||||
(unaudited; in thousands, except per share data) |
|||||||
Statement of Operations Data: |
|||||||
Three months ended |
For the Six Months Ended |
||||||
June 30, |
June 30, |
||||||
2018 |
2017 |
2018 |
2017 |
||||
Revenues: |
|||||||
Collaboration agreements |
$ 21,289 |
$ 7,977 |
$ 33,840 |
$ 11,283 |
|||
Research grants |
127 |
276 |
213 |
395 |
|||
Total revenues |
21,416 |
8,253 |
34,053 |
11,678 |
|||
Operating expenses: |
|||||||
Research and development |
29,255 |
14,984 |
52,802 |
27,926 |
|||
General and administrative |
11,301 |
6,037 |
21,388 |
13,312 |
|||
Total operating expenses |
40,556 |
21,021 |
74,190 |
41,238 |
|||
Loss from operations |
(19,140) |
(12,768) |
(40,137) |
(29,560) |
|||
Interest and other income, net |
2,500 |
277 |
3,310 |
437 |
|||
Net loss |
$ (16,640) |
$ (12,491) |
$ (36,827) |
$ (29,123) |
|||
Basic and diluted net loss per common share |
$ (0.17) |
$ (0.17) |
$ (0.40) |
$ (0.41) |
|||
Shares used in computing basic and diluted net loss per common share |
97,267 |
72,527 |
91,831 |
71,780 |
|||
SELECTED BALANCE SHEET DATA |
|||||||
June 30, 2018 |
December 31, 2017 |
||||||
Cash, cash equivalents, marketable securities and interest receivable |
$ 574,190 |
$ 244,560 |
|||||
Total assets |
627,727 |
286,741 |
|||||
Total stockholders' equity |
387,867 |
187,900 |
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SOURCE
Sangamo Therapeutics, Inc., McDavid Stilwell, (510) 970-6000, x219, mstilwell@sangamo.com, or Varant Shirvanian, (510) 970-6000, x205, vshirvanian@sangamo.com