0001628280-22-003819 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 178,872	$ 131,329
Marketable securities	197,676	510,094
Interest receivable	349	1,035
Accounts receivable	6,013	5,224
Prepaid expenses and other current assets	15,859	11,986
Total current assets	398,769	659,668
Marketable securities, non-current	88,169	50,530
Property and equipment, net	51,523	41,324
Intangible assets	53,760	58,128
Goodwill	39,702	42,798
Operating lease right-of-use assets	73,181	71,045
Other non-current assets	15,319	13,557
Restricted cash	1,500	1,500
Total assets	721,923	938,550
Current liabilities:
Accounts payable	9,759	12,553
Other accrued liabilities	11,577	18,612
Accrued compensation and employee benefits	20,840	20,738
Deferred revenues	85,711	91,644
Total current liabilities	127,887	143,547
Deferred revenues, non-current	166,776	245,045
Long-term portion of lease liabilities	44,055	38,396
Deferred income tax	6,645	7,185
Other non-current liabilities	1,217	7,011
Total liabilities	346,580	441,184
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized, and no shares issued or outstanding	0	0
Common stock, $0.01 par value; 320,000,000 shares authorized, 145,921,530 and 142,063,203 shares issued and outstanding at December 31, 2021 and 2020, respectively	1,459	1,421
Additional paid-in capital	1,334,138	1,269,375
Accumulated deficit	(956,267)	(777,981)
Accumulated other comprehensive (loss) income	(3,987)	5,419
Total Sangamo Therapeutics, Inc. stockholders’ equity	375,343	498,234
Non-controlling interest	0	(868)
Total stockholders’ equity	375,343	497,366
Total liabilities and stockholders’ equity	$ 721,923	$ 938,550

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares authorized (in shares)	5,000,000	5,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	145,921,530	142,063,203
Common stock, shares outstanding (in shares)	145,921,530	142,063,203

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues	$ 110,701	$ 118,192	$ 102,428
Operating expenses:
Research and development	230,819	180,647	145,922
General and administrative	63,219	67,097	61,686
Total operating expenses	294,038	247,744	207,608
Loss from operations	(183,337)	(129,552)	(105,180)
Interest and other income, net	5,346	8,775	9,761
Loss before income taxes	(177,991)	(120,777)	(95,419)
Income tax expense	306	345	0
Net loss	(178,297)	(121,122)	(95,419)
Net loss attributable to non-controlling interest	(11)	(126)	(233)
Net loss attributable to Sangamo Therapeutics, Inc. stockholders	$ (178,286)	$ (120,996)	$ (95,186)
Basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in dollars per share)	$ (1.23)	$ (0.90)	$ (0.85)
Diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in dollars per share)	$ (1.23)	$ (0.90)	$ (0.85)
Shares used in computing basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in shares)	144,568	134,449	112,114
Shares used in computing diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in shares)	144,568	134,449	112,114

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (178,297)	$ (121,122)	$ (95,419)
Foreign currency translation adjustment	(8,351)	8,345	(1,573)
Net pension losses	(716)	(193)	(28)
Change in unrealized (loss) gain on marketable securities, net of tax	(339)	(284)	592
Comprehensive loss	(187,703)	(113,254)	(96,428)
Comprehensive loss attributable to non-controlling interest	(11)	(126)	(233)
Comprehensive loss attributable to Sangamo Therapeutics, Inc.	$ (187,692)	$ (113,128)	$ (96,195)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income	Non- Controlling Interest
Beginning Balances (in shares) at Dec. 31, 2018			102,187,471
Beginning Balances at Dec. 31, 2018	$ 367,257	$ 897	$ 1,022	$ 929,632	$ (562,696)	$ 897	$ (1,440)	$ 739
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)			885,873
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	$ 3,677		$ 9	3,668
Issuance of common stock under employee stock purchase plan (in shares)	249,364		249,364
Issuance of common stock under employee stock purchase plan	$ 2,044		$ 2	2,042
Issuance of common stock, net of issuance costs (in shares)			12,650,000
Issuance of common stock under public offering, net of issuance costs	136,308		$ 127	136,181
Stock-based compensation	19,330			19,330
Acquisition of additional shares of Sangamo France	(321)							(321)
Issuance costs related to Sangamo France acquisition	(25)			(25)				0
Foreign currency translation adjustment	(1,573)						(1,573)
Net pension losses	(28)						(28)
Net unrealized gain (loss) on marketable securities, net of tax	592						592
Buy-out of non-controlling interest	0
Net loss	(95,419)				(95,186)			(233)
Ending Balances (in shares) at Dec. 31, 2019			115,972,708
Ending Balances at Dec. 31, 2019	432,739		$ 1,160	1,090,828	(656,985)		(2,449)	185
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)			1,395,956
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	$ 8,559		$ 14	8,545
Issuance of common stock under employee stock purchase plan (in shares)	274,382		274,382
Issuance of common stock under employee stock purchase plan	$ 2,015		$ 3	2,012
Issuance of common stock, net of issuance costs (in shares)			24,420,157
Issuance of common stock under public offering, net of issuance costs	142,526		$ 244	142,282
Stock-based compensation	25,708			25,708
Acquisition of additional shares of Sangamo France	(927)							(927)
Foreign currency translation adjustment	8,345						8,345
Net pension losses	(193)						(193)
Net unrealized gain (loss) on marketable securities, net of tax	(284)						(284)
Buy-out of non-controlling interest	0
Net loss	$ (121,122)				(120,996)			(126)
Ending Balances (in shares) at Dec. 31, 2020	142,063,203		142,063,203
Ending Balances at Dec. 31, 2020	$ 497,366		$ 1,421	1,269,375	(777,981)		5,419	(868)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)			1,417,288
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	$ 2,389		$ 14	2,375
Issuance of common stock under employee stock purchase plan (in shares)	433,107		433,107
Issuance of common stock under employee stock purchase plan	$ 3,370		$ 4	3,366
Issuance of common stock, net of issuance costs (in shares)			2,007,932
Issuance of common stock under public offering, net of issuance costs	27,099		$ 20	27,079
Stock-based compensation	32,956			32,956
Acquisition of additional shares of Sangamo France	(134)			(70)				(64)
Foreign currency translation adjustment	(8,351)						(8,351)
Net pension losses	(716)						(716)
Net unrealized gain (loss) on marketable securities, net of tax	(339)						(339)
Buy-out of non-controlling interest	943			(943)				943
Net loss	$ (178,297)				(178,286)			(11)
Ending Balances (in shares) at Dec. 31, 2021	145,921,530		145,921,530
Ending Balances at Dec. 31, 2021	$ 375,343		$ 1,459	$ 1,334,138	$ (956,267)		$ (3,987)	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities:
Net loss	$ (178,297)	$ (121,122)	$ (95,419)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	9,439	5,682	3,930
Amortization of premium (discount) on marketable securities, net	2,844	(825)	(4,708)
Amortization and other changes in operating lease right-of-use assets	8,199	7,687	5,677
Gain on free shares	(18)	(63)	(488)
Net (gain) loss on disposal of property and equipment	(52)	222	68
Stock-based compensation	32,956	25,708	19,330
Adjustment of CIRM award liability related to the termination of the grant	(6,427)	0	0
Net loss on lease termination	0	0	218
Net changes in operating assets and liabilities:
Interest receivable	686	(353)	(307)
Accounts receivable	(789)	31,685	(32,236)
Prepaid expenses and other assets	(7,175)	(10,411)	(6,660)
Accounts payable and other accrued liabilities	(7,664)	10,703	(4,192)
Accrued compensation and employee benefits	373	6,877	4,129
Deferred revenues	(84,202)	216,546	(35,693)
Long-term portion of lease liabilities	(4,340)	(3,761)	(1,800)
Other non-current liabilities	1,216	1,300	3,749
Net cash (used in) provided by operating activities	(233,251)	169,875	(144,402)
Investing Activities:
Purchases of marketable securities	(338,159)	(570,779)	(443,711)
Maturities of marketable securities	602,885	314,570	404,847
Sales of marketable securities	6,870	0	0
Purchases of property and equipment	(23,278)	(14,714)	(20,675)
Purchase of additional Sangamo France shares	(119)	(704)	(262)
Net cash provided by (used in) investing activities	248,199	(271,627)	(59,801)
Financing Activities:
Taxes paid related to net share settlement of equity awards	(3,258)	(765)	(422)
Proceeds from exercise of stock options and restricted stock units	5,648	9,324	4,099
Net cash provided by financing activities	32,858	153,100	142,029
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(263)	(447)	184
Net increase (decrease) in cash, cash equivalents, and restricted cash	47,543	50,901	(61,990)
Cash, cash equivalents, and restricted cash, beginning of period	132,829	81,928	143,918
Cash, cash equivalents, and restricted cash, end of period	180,372	132,829	81,928
Supplemental cash flow disclosures:
Property and equipment included in unpaid liabilities	1,535	4,569	2,114
Buy-out of non-controlling interest	943	0	0
Right-of-use assets obtained in exchange for lease obligations	10,418	1,333	31,291
At -the-market offering
Financing Activities:
Proceeds from issuance of common stock	27,099	0	0
Public Offering
Financing Activities:
Proceeds from issuance of common stock	0	0	136,308
Biogen Collaboration Agreement
Financing Activities:
Proceeds from issuance of common stock	0	142,526	0
Employee Stock
Financing Activities:
Proceeds from issuance of common stock	$ 3,369	$ 2,015	$ 2,044

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Description of Business

Sangamo Therapeutics, Inc. (“Sangamo” or “the Company”) was incorporated in the State of Delaware in June 1995 and changed its name from Sangamo Biosciences, Inc. in January 2017. Sangamo is a clinical-stage genomic medicine company committed to translating ground-breaking science into medicines that transform the lives of patients with serious diseases.

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in the Consolidated Financial Statements. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to non-controlling interests on its Consolidated Statements of Operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties.

Liquidity and Management’s Plan

Sangamo is currently working on a number of long-term development projects that involve experimental technologies. The projects may require several years and substantial expenditures to complete and ultimately may be unsuccessful. The Company plans to finance operations with available cash resources, collaborations and strategic partnerships funds, research grants and from the issuance of equity or debt securities. Sangamo believes that its available cash, cash equivalents, and marketable securities as of December 31, 2021, and expected future milestones and research services revenue from collaborations, strategic partnerships and research grants, will be adequate to fund its currently planned operations through at least the next 12 months from the date these Consolidated Financial Statements are issued. Sangamo will require substantial additional financial resources to complete the development and commercialization of its product candidates. Additional capital may not be available on terms acceptable to the Company, if at all. If adequate funds are not available, or if the terms of potential funding sources are unfavorable, the Company’s business and ability to develop its technology and therapeutic products would be harmed. Furthermore, any sales of additional equity securities may result in dilution to the Company’s stockholders, and any debt financing may include covenants that restrict the Company’s business.

Summary of Significant Accounting Policies

Use of Estimates

The preparation of the accompanying Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. On an ongoing basis, management evaluates its estimates including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, income taxes, fair value of assets and liabilities, including from acquisitions, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

During the year ended December 31, 2021, the Company recorded adjustments to revenue related to changes in estimates in connection with the collaboration agreement with Sanofi S.A. (“Sanofi”). These changes in estimates were driven by a change in project scope and related project costs in September 2021 and subsequent notification of termination of the collaboration agreement, effective June 28, 2022, which resulted in changes to the measure of proportional cumulative performance. These adjustments decreased revenue by $1.6 million, increased net loss by $1.6 million and increased the Company’s basic and diluted net loss per share by $0.01 for the year ended December 31, 2021.

During the year ended December 31, 2020, the Company recorded adjustments to revenue related to changes in estimates in connection with the collaboration agreements with Sanofi and Pfizer Inc. (“Pfizer”). These changes in estimates were driven by changes in project scope and related project costs which resulted in changes to the measure of proportional cumulative performance. These adjustments increased revenue by $8.9 million, decreased net loss by $8.9 million and decreased the Company’s basic and diluted net loss per share by $0.06 for the year ended December 31, 2020.

During the year ended December 31, 2019, the Company recorded adjustments to revenue related to a change in estimate in connection with the giroctocogene fitelparvovec collaboration agreement with Pfizer. This change in estimate was driven by changes in project scope and related project costs which resulted in changes to the measure of proportional cumulative performance. These adjustments increased revenue by $5.7 million, decreased net loss by $5.7 million and decreased the Company’s basic net loss per share by $0.05 for the year ended December 31, 2019.

Revenue Recognition

The Company accounts for its revenues pursuant to the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). The Company’s contract revenues are derived from collaboration agreements including licensing arrangements and research activity grants. Research and licensing agreements typically include upfront signing or license fees, cost reimbursements for research services, minimum sublicense fees, milestone payments and royalties on future licensee’s product sales. The Company has agreements with both fixed and variable consideration. Non-refundable upfront fees and funding of research and development activities are considered fixed, while milestone payments are generally identified as variable consideration. Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenues under research grant agreements are generally recognized when the related qualified research expenses are incurred. Deferred revenue primarily represents the portion of research or license payments received but not earned.

In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company’s performance obligations include license rights, development services and services associated with regulatory submission and approval processes. Revenues from research services earned under collaboration agreements are generally recognized as revenue as the related services are provided. Revenues from non-refundable upfront fees are recognized over time either by measuring progress towards satisfaction of the relevant performance obligation, using the input method (i.e., cumulative actual costs incurred relative to total estimated costs) or on a straight-line basis when a performance obligation is expected to be satisfied evenly over a period of time (or when the entity has a stand-ready obligation). Significant management judgment is required to determine the level of effort required under an arrangement, and the period over which the Company expects to complete its performance obligations under the arrangement, which may include total internal personnel costs and external costs to be incurred as well as, in certain cases, the estimated stand-ready obligation period. Changes in these estimates can have a material effect on revenue recognized. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. The Company includes the unconstrained amount of estimated variable consideration in the transaction price. The amount included in the transaction price is constrained to the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. The estimated period of performance and project costs, such as personnel and manufacturing cost, are reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables.

As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. Related costs and expenses under these arrangements have historically approximated the revenues recognized.

Revenues from major collaboration agreements and research activity grants as a percentage of total revenues were as follows:


	Year Ended December 31,
	2021		2020		2019
Biogen MA, Inc.	38	%	24	%	—
Novartis Institutes for BioMedical Research, Inc.	34	%	4	%	—
Kite Pharma, Inc.	23	%	24	%	34	%
Sanofi S.A.	3	%	5	%	22	%
Pfizer Inc.	—	%	40	%	40	%

Funds received from the Company’s collaboration partners are generally not refundable and are recorded as revenue as the Company fulfills its performance obligations, which are satisfied over time (i.e., stand‑ready obligations) or by using the input method (i.e., cumulative actual costs incurred relative to total estimated costs). Revenue is also recognized when the Company has incurred qualified research and development costs that are reimbursable from its collaboration partners and when there is reasonable assurance that such costs will be reimbursed. Any payments received from a collaboration partner in advance of the completion of the relevant performance obligation are recorded as deferred revenue.

Accounts Receivable

Accounts receivable consists of amounts billed to the Company’s collaboration partners for cost reimbursements for research services. Receivables from collaborations are typically unsecured and are concentrated in the biopharmaceutical industry. Accordingly, the Company may be exposed to credit risk generally associated with biopharmaceutical companies or specific to its collaboration agreements. The Company records trade receivables net of allowances for credit losses. The Company applies an aging method to estimate credit losses and considers its historical loss information, adjusted to account for current conditions, and reasonable and supportable forecasts of future economic conditions affecting its customers. As of December 31, 2021, the Company had not incurred any losses related to these receivables. As of December 31, 2021 and 2020, the percentage of accounts receivable by collaboration partners who individually accounted for 10% or more of accounts receivable were as follows:


	As of December 31,
	2021		2020
Biogen MA, Inc.	46	%	52	%
Novartis Institutes for BioMedical Research, Inc.	32	%	21	%
Sanofi S.A.	11	%	19	%

Goodwill and Intangible Assets

Goodwill represents the excess of consideration transferred over the fair values of assets acquired and liabilities assumed in a business combination. Intangible assets with indefinite useful lives are related to purchased in-process research and development (“IPR&D”) projects and are measured at their respective fair values as of the acquisition date. Goodwill and intangible assets with indefinite useful lives are not amortized. Intangible assets related to IPR&D projects are considered to be indefinite-lived until the completion or abandonment of the associated research and development efforts. If and when development is complete, which generally occurs if and when regulatory approval to market a product is obtained, the associated assets would be deemed finite-lived and would then be amortized based on their respective estimated useful lives at that point in time. The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis and between annual tests if the Company becomes aware of any events occurring or changes in circumstances that would indicate the fair values of the assets are below their respective carrying amounts. As of December 31, 2021, no impairment of goodwill or indefinite-lived intangible assets was identified.

Valuation of Long-lived Assets

Long-lived assets, including property and equipment and finite-lived intangible assets, are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of each asset to the future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. As of December 31, 2021, no impairment of long-lived assets was identified.

Fair Value Measurements

The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and other accrued liabilities approximate fair value due to their short-term maturities. Marketable securities are stated at their estimated fair values. The free shares asset is measured using a binomial-lattice pricing model and is reviewed each reporting period and adjusted as needed to approximate fair value.

Cash, Cash Equivalents, and Restricted Cash

Sangamo considers all highly-liquid investments purchased with original maturities of three months or less at the purchase date to be cash equivalents. Cash and cash equivalents consist of cash and deposits in demand money market accounts. Restricted cash consists of a letter of credit for $1.5 million, representing a deposit for the lease of the corporate headquarters in Brisbane, California.

A reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying Consolidated Balance Sheets to the amounts reported within the accompanying Consolidated Statements of Cash Flows is as follows (in thousands):


	As of December 31,
	2021		2020		2019
Cash and cash equivalents	$	178,872	$	131,329	$	80,428

Non-current restricted cash	1,500		1,500		1,500
Cash, cash equivalents, and restricted cash as reported within the Consolidated Statements of Cash Flows	$	180,372	$	132,829	$	81,928

Marketable Securities

Sangamo classifies its marketable securities as available-for-sale and records its investments at estimated fair value based on quoted market prices or observable market inputs of almost identical assets, with the unrealized holding gains and losses included in accumulated other comprehensive income (loss) (“AOCI”). The Company classifies those investments that are not required for use in current operations and that mature in more than 12 months as non-current marketable securities in the accompanying Consolidated Balance Sheets.

The Company’s investments are subject to a periodic impairment review. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. Realized gains and losses on marketable securities are included in interest and other income, net, which are determined using the specific identification method. Credit losses related to the marketable securities are recorded in interest and other income (expense), net in the Consolidated Statements of Operations through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities.

Concentrations of Credit Risk and Other Risks

Cash, cash equivalents, and marketable securities consist of financial instruments that potentially subject the Company to a concentration of credit risk to the extent of the fair value recorded in the Consolidated Balance Sheets. The Company invests cash that is not required for immediate operating needs primarily in highly liquid instruments that bear minimal risk. The Company has established policies relating to the quality, diversification, and maturities of securities to enable the Company to manage its credit risk. The Company is exposed to credit risk in the event of a default by the financial institutions or issuers of investments holding its cash, cash equivalents, and investments to the extent recorded on the Consolidated Balance Sheets.

Certain materials and key components that the Company utilizes in its operations are obtained through single suppliers. Since the suppliers of key components and materials must be named in an investigational new drug application (“IND”) filed with the U.S. Food and Drug Administration for a product, significant delays can occur if the qualification of a new supplier is required. If delivery of material from the Company’s suppliers were interrupted for any reason, the Company may be unable to supply any of its product candidates for clinical trials.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets which is generally three to five years. For leasehold improvements, amortization is calculated using the straight-line method based on the shorter of the useful life or the lease term. The Company reviews its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Research and Development Expenses

Research and development expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations, materials and supplies and overhead allocations consisting of various support and facility-related costs. Research and development costs are expensed as incurred.

General and Administrative Expenses

General and administrative expenses consist of finance, human resources, legal and other administrative activities. These expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, facilities and overhead costs, legal expenses, and other general and administrative costs.

Stock-based Compensation

The Company measures and recognizes compensation expense for all stock-based payment awards made to Sangamo employees and directors, including employee share options, restricted stock units (“RSUs”) and employee stock purchases related to the Employee Stock Purchase Plan (“ESPP”) based on estimated fair values at the award grant date. The fair value of stock-based awards is amortized over the vesting period of the award using a straight-line method.

To estimate the fair value of an award, the Company uses the Black-Scholes option pricing model. This model requires inputs such as expected life, expected volatility, expected dividends and risk-free interest rate. These inputs are subjective and generally require significant analysis and judgment to develop. While estimates of expected life and volatility are derived primarily from the Company’s historical data, the risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected life assumption. The Company accounts for forfeitures in the period they occur.

Income Taxes

Income tax expense has been calculated using the liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. The Company provides a valuation allowance against net deferred tax assets if, based upon the available evidence, it is not more likely than not that the deferred tax assets will be realized.

The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s Consolidated Financial Statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. The Company recognizes interest and penalties associated with tax matters as part of the income tax provision and includes accrued interest and penalties with the related income tax liability within other accrued liabilities on its Consolidated Balance Sheets. The Company evaluates uncertain tax positions on a regular basis and makes adjustments to these accruals when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate.

Leases

The Company determines if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable.

As the implicit rate in the Company’s leases is generally unknown, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of remaining lease payments. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease in a similar economic environment. The Company considers its credit risk, term of the lease, and total lease payments and adjusts for the impacts of collateral, as necessary, when calculating its incremental borrowing rates. The lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise any such options. Rent expense for the Company’s operating leases is recognized on a straight-line basis over the lease term.

The Company has elected not to separate lease and non-lease components for its real estate and copier leases and, as a result, accounts for any lease and non-lease components as a single lease component. The Company has also elected not to apply the recognition requirement to any leases with a term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise.

Foreign Currency Translation

The functional currency of the Company’s foreign subsidiaries is primarily the Euro. Assets and liabilities denominated in foreign currencies are translated to U.S. dollars using the exchange rates at the balance sheet date. Foreign currency translation adjustments are recorded as a component of AOCI within stockholders’ equity. Revenues and expenses from the Company’s foreign subsidiaries are translated using the monthly average exchange rates in effect during the period in which the transactions occur. Foreign currency transaction gains and losses are recorded in interest and other income, net, on the Company’s Consolidated Statements of Operations.

Net Loss Per Share

Basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders has been computed by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders is calculated by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock plus potentially dilutive securities outstanding during the period.

The total number of shares subject to stock options and RSUs outstanding and the ESPP shares reserved for issuance, which are all anti-dilutive, were excluded from consideration in the calculation of diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders. Stock options and RSUs outstanding and ESPP shares reserved for issuance as of December 31, 2021, 2020 and 2019 were 15,159,908, 14,237,871, and 10,750,550, respectively.

Segments

The Company operates in one segment. Management uses one measure of profitability and does not segregate its business for internal reporting. As of December 31, 2021 and 2020, majority of the Company’s assets were maintained in the United States. For the years ended December 31, 2021, 2020 and 2019, all of the Company’s revenues and majority of the operating expenses were generated and incurred in the United States.

Recent Accounting Pronouncements

None.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, marketable securities, and the free shares asset. Fair value is determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurements and unobservable (i.e., supported by little or no market activity).

The fair value measurements of the Company’s cash equivalents, marketable securities, and the free shares asset are identified at the following levels within the fair value hierarchy (in thousands):


	December 31, 2021
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	119,919	$	119,919	$	—	$	—

Total	119,919		119,919		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	30,614		—		30,614		—
Commercial paper securities	105,757		—		105,757		—
Corporate debt securities	33,682		—		33,682		—
Certificates of deposit	45,091		—		45,091		—
Asset-backed securities	70,701		—		70,701		—
Total	285,845		—		285,845		—
Total cash equivalents and marketable securities	$	405,764	$	119,919	$	285,845	$	—


	December 31, 2020
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	53,165	$	53,165	$	—	$	—

Total	53,165		53,165		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	257,298		—		257,298		—
Commercial paper securities	213,533		—		213,533		—
Corporate debt securities	59,574		—		59,574		—
Certificates of deposits	12,311		—		12,311		—
Asset-backed securities	17,908		—		17,908		—
Total	560,624		—		560,624		—
Total cash equivalents and marketable securities	$	613,789	$	53,165	$	560,624	$	—

Free shares asset	$	70	$	—	$	—	$	70

Cash Equivalents and Marketable Securities

The Company generally classifies its marketable securities as Level 2. Instruments are classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, matrix pricing and valuation models. These valuation models are proprietary to the pricing providers or brokers and incorporate a number of inputs, including in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day.

Free Shares Asset

As a result of the July 20, 2018 Share Purchase Agreement (“Sangamo France SPA”) to acquire Sangamo France (see Note 5 — Acquisition of Sangamo France), the Company entered into arrangements with the holders of approximately 477,000

“free shares” of Sangamo France pursuant to which the Company had the right to purchase such shares from the holders (a call option) and such holders had the right to sell to the Company such shares from time to time through mid‑2021 (a put option). As of December 31, 2021, the Company had purchased all of the 477,000 free shares for an aggregate cash payment of approximately $1.1 million, upon exercise of the put options. As of December 31, 2021, there were no free shares outstanding subject to purchase by the Company. The fair value of the free shares’ asset was $0.1 million at December 31, 2020.



Free Shares valuation assumptions:	December 31, 2020
Sangamo stock price (USD)	$	15.61
Sangamo France stock price (EUR)	€	3.85
EUR/ USD exchange rate	0.82
Estimated correlation between Sangamo and Sangamo France stock prices	100.0		%
Sangamo stock price (USD) volatility estimate	88.9		%
Sangamo France stock price (EUR) volatility estimate	88.9		%
EUR/ USD exchange rate volatility estimate	6.3		%
Risk free rate and cost of debt by expected exercise date	Varies

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CASH EQUIVALENTS AND MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

CASH EQUIVALENTS AND MARKETABLE SECURITIES

The table below summarizes the Company’s cash equivalents and marketable securities (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
December 31, 2021
Assets
Cash equivalents:
Money market funds	$	119,919	$	—	$	—	$	119,919

Total	119,919		—		—		119,919
Marketable securities:
U.S. government-sponsored entity debt securities	30,700		1		(87)		30,614
Commercial paper securities	105,792		7		(42)		105,757
Corporate debt securities	33,723		1		(42)		33,682
Certificates of deposit	45,116		1		(26)		45,091
Asset-backed securities	70,807		1		(107)		70,701
Total	286,138		11		(304)		285,845
Total cash equivalents and marketable securities	$	406,057	$	11	$	(304)	$	405,764

December 31, 2020
Assets
Cash equivalents:
Money market funds	$	53,165	$	—	$	—	$	53,165

Total	53,165		—		—		53,165
Marketable securities:
U.S. government-sponsored entity debt securities	257,284		19		(5)		257,298
Commercial paper securities	213,500		41		(8)		213,533
Corporate debt securities	59,575		16		(17)		59,574
Certificates of deposit	12,311		—		—		12,311
Asset-backed securities	17,905		10		(7)		17,908
Total	560,575		86		(37)		560,624
Total cash equivalents and marketable securities	$	613,740	$	86	$	(37)	$	613,789

The fair value of marketable securities by contractual maturity were as follows (in thousands):


	December 31,
	2021		2020
Maturing in one year or less	$	197,676	$	510,094
Maturing after one year through five years	88,169		50,530
Total	$	285,845	$	560,624

Realized gains and losses on the sales of investments were insignificant during the years ended December 31, 2021, 2020 and 2019.

The Company manages credit risk associated with its investment portfolio through its investment policy, which limits purchases to high-quality issuers and also limits the amount of its portfolio that can be invested in a single issuer. The Company did not record an allowance for credit losses or other impairment charges related to its marketable securities for the years ended December 31, 2021, 2020, or 2019.

The Company had unrealized losses related to its marketable securities for the years ended December 31, 2021, 2020 and 2019. The Company had no material unrealized losses, individually and in the aggregate, for marketable securities that are in a continuous unrealized loss position for greater than 12 months as of December 31, 2021 and 2020. Based on the scheduled maturities of its investments, the Company determined that it was more likely than not that it will hold these investments for a

period of time sufficient for a recovery of its cost basis. Total unrealized gains for securities with net gains in AOCI were not material for fiscal 2021. These unrealized losses were not attributed to credit risk and were associated with changes in market conditions. The Company periodically reviews its marketable securities for indications of credit losses. The Company considers factors such as the duration, the magnitude and the reason for the decline in value, the potential recovery period, creditworthiness of the issuers of the securities and its intent to sell. For marketable securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. Based on the Company’s review of these securities, including the assessment of the duration and severity of the unrealized losses and the Company’s ability and intent to hold the investments until maturity, the Company determined that no allowance for credit losses related to its marketable securities was required at either December 31, 2021 or 2020.

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES

Novartis Institutes for BioMedical Research, Inc.

On July 27, 2020, the Company entered into a collaboration and license agreement with Novartis Institutes for BioMedical Research, Inc. (“Novartis”) for the research, development and commercialization of gene regulation therapies to treat three neurodevelopmental disorders. Under the agreement, which was effective upon execution, the Company granted Novartis an exclusive, royalty bearing and worldwide license, under its relevant patents and know-how, to develop, manufacture and commercialize certain of its zinc finger protein (“ZFP”) transcription factors (“ZFP-TFs”) targeted to three undisclosed genes that are associated with certain neurodevelopmental disorders, including autism spectrum disorder and intellectual disability. The Company is performing early research activities over the collaboration period for each gene target and manufacture the ZPF-TFs required for such research, costs of which is funded by Novartis. Novartis is responsible for additional research activities, IND-enabling studies, clinical development, regulatory approvals, manufacturing of preclinical, clinical and approved products, and global commercialization. Subject to certain exceptions set forth in the agreement, the Company is prohibited from developing, manufacturing or commercializing any therapeutic product targeting any of the three genes that are the subject of the collaboration. Novartis also has the option to license certain of the Company’s proprietary adeno-associated viruses (“AAVs”) for the sole purpose of developing, manufacturing and commercializing licensed products arising from the collaboration.

Under the agreement, Novartis paid the Company a $75.0 million upfront license fee in August 2020. In addition to this fee and the cost reimbursements for early research activities, the Company is eligible to earn from Novartis up to $420.0 million in development milestones and up to $300.0 million in commercial milestones. The Company is also eligible to earn from Novartis tiered high single-digit to sub-teen double-digit royalties on potential net commercial sales of licensed products arising from the collaboration. These royalty payments will be subject to reduction due to patent expiration, loss of market exclusivity and payments made under certain licenses for third-party intellectual property. The agreement will continue, on a product-by-product and country-by-country basis, until the expiration of the applicable royalty term. Novartis has the right to terminate the agreement, in its entirety or on a target-by-target basis, for any reason after a specified notice period. Each party also has the right to terminate the agreement on account of the other party’s bankruptcy or material, uncured breach.

All payments received under the agreement, when earned, are non-refundable and non-creditable. The transaction price of $95.1 million includes the upfront license fee of $75.0 million and estimated research costs of $20.1 million to be provided over the estimated research period. All clinical or regulatory milestone amounts were considered fully constrained at inception of the agreement. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price, including the estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

The Company assessed the agreement with Novartis in accordance with ASC Topic 606 and concluded that Novartis is a customer. The Company has identified a single performance obligation within this arrangement as a license to the technology and ongoing research services. The Company concluded that the license is not discrete as it does not have stand-alone value to Novartis apart from the research services to be performed pursuant to the agreement. As a result, the Company recognizes revenue from the upfront payment based on proportional performance of the ongoing research services through the estimated research period. The estimation of progress towards the satisfaction of performance obligation and project cost is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its performance obligation. As of December 31, 2021 and 2020, the Company had a receivable of $1.9 million and $1.1 million, respectively, and deferred revenue of $40.9 million and $70.9 million, respectively, related to this agreement.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Novartis agreement:
Recognition of upfront license fee	$	29,945	$	4,143	$	—
Research services	7,999		1,109		—
Total	$	37,944	$	5,252	$	—

The Company paid $1.5 million for financial advisory fees during the year ended December 31, 2020, equal to 2% of $75.0 million received for the upfront license fee related to the collaboration and license agreement with Novartis. The Company recognized $1.5 million as a contract asset as such amount represents a cost of obtaining the agreement. This balance is amortized and included in general and administrative expenses on a systematic basis consistent with the transfer of the services to Novartis in accordance with ASC Topic 340, Other Assets and Deferred Costs (“ASC Topic 340”). The Company amortized $0.6 million and $0.1 million during the years ended December 31, 2021 and 2020, respectively.

Biogen MA, Inc.

In February 2020, the Company entered into a collaboration and license agreement with Biogen MA, Inc. (“BIMA”) and Biogen International GmbH (together with BIMA, “Biogen”) for the research, development and commercialization of gene regulation therapies for the treatment of neurological diseases. The companies plan to leverage the Company’s proprietary ZFP technology delivered via AAV to modulate expression of key genes involved in neurological diseases. Concurrently with the execution of the collaboration agreement, the Company entered into a stock purchase agreement with BIMA, pursuant to which BIMA agreed to purchase 24,420,157 shares of the Company’s common stock (the “Biogen Shares”), at a price per share of $9.2137, for an aggregate purchase price of approximately $225.0 million.

The collaboration agreement became effective in April 2020 following the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and satisfaction of other customary closing conditions, including the payment of $225.0 million for the purchase of the Biogen Shares.

Under the collaboration agreement, Biogen paid the Company an upfront license fee of $125.0 million in May 2020. The Company is also eligible to receive research, development, regulatory and commercial milestone payments that could total up to approximately $2.4 billion if Biogen selects all of the targets allowed under the agreement and all the specified milestones set forth in the agreement are achieved, which includes up to $925.0 million in pre-approval milestone payments and up to $1.5 billion in first commercial sale and other sales-based milestone payments. In addition, the Company is eligible to receive tiered high single-digit to sub-teen royalties on potential net commercial sales of licensed products arising from the collaboration. These royalty payments are subject to reduction due to patent expiration, entry of biosimilar products to the market and payments made under certain licenses for third-party intellectual property.

Under the collaboration agreement, the Company granted to Biogen an exclusive, royalty bearing and worldwide license, under its relevant patents and know-how, to develop, manufacture and commercialize certain ZFP and/or AAV-based products directed to up to twelve neurological disease gene targets selected by Biogen. Biogen has already selected four of these: ST-501 to treat tauopathies, ST-502 to treat synucleinopathies including Parkinson’s disease, a third product candidate targeting DM1, a neuromuscular disease, and a fourth undisclosed neurological disease gene target. Biogen has exclusive rights to nominate up to eight additional targets over a target selection period of five years. For each gene target selected by Biogen, the Company performs early research activities, costs of which are shared by the companies, aimed at the development of the combination of proprietary central nervous system delivery vectors and ZFP-TFs (or potential other ZFP products) targeting therapeutically relevant genes. Biogen has assumed responsibility and costs for the IND‑enabling studies, clinical development, related regulatory interactions, and global commercialization. The Company is responsible for manufacturing activities for the initial clinical trials for the first three products of the collaboration and plans to leverage its in-house manufacturing capacity, where appropriate, which is currently in development. Biogen is responsible for manufacturing activities beyond the first clinical trial for each of the first three products. The Company’s research activities for any targets will be performed over the period not to exceed seven years from the effective date of the agreement (i.e., through April 2027). Subject to certain exceptions set forth in the collaboration agreement, the Company is prohibited from developing, manufacturing or commercializing any therapeutic product directed to the targets selected by Biogen.

The collaboration agreement continues on a product-by-product and country-by-country basis until the expiration of all applicable royalty terms. Biogen has the right to terminate the collaboration agreement, in its entirety or on a target-by-target basis, for any reason after a specified notice period, and also has the right to replace up to ten targets. Each party has the right to terminate this agreement on account of the other party’s bankruptcy or material, uncured breach. In addition, the Company may terminate the collaboration agreement if Biogen challenges any patents licensed by the Company to Biogen.

Pursuant to the terms of the stock purchase agreement, Biogen has agreed not to, without the Company’s prior written consent and subject to specified conditions and exceptions, directly or indirectly acquire shares of the Company’s outstanding common stock, seek or propose a tender or exchange offer or merger between the parties, solicit proxies or consents with respect to any matter, or undertake other specified actions related to the potential acquisition of additional equity interests in the Company. Such standstill restrictions expire on the earlier of the three-year anniversary of the effectiveness of the collaboration agreement and the date that Biogen beneficially owns less than 5% of the Company’s common stock.

The stock purchase agreement also provides that from the first anniversary of the effectiveness of the collaboration agreement, through the second anniversary, Biogen will hold and not sell at least 50% of the Biogen Shares, in addition to being subject to certain volume limitations. The stock purchase agreement further provides that, subject to certain limitations, until such time as all remaining Biogen Shares may be sold pursuant to Rule 144 promulgated under the Securities Exchange Act of 1933, as amended, within a 90-day period, Biogen may request the Company to register for resale any of the Biogen Shares on a registration statement to be filed with the Securities and Exchange Commission.

In addition, Biogen has agreed that, excluding specified extraordinary matters, it will vote the Biogen Shares in accordance with the Company’s recommendation and has granted the Company an irrevocable proxy with respect to the foregoing. Such voting provisions expire on the earlier of (i) the two-year anniversary of the effectiveness of the collaboration agreement, (ii) the date that Biogen beneficially owns less than 5% of the Company’s common stock and (iii) the date the collaboration agreement is terminated; provided, however, that in no event shall such expiration date be prior to the one-year anniversary of the effectiveness of the collaboration agreement.

The Company assessed the collaboration agreement with Biogen in accordance with ASC Topic 606 and concluded that Biogen is a customer. The transaction price of $204.6 million includes the upfront license fee of $125.0 million and the excess consideration from the stock purchase of $79.6 million, which represents the difference between the $225.0 million received for the purchase of the Biogen Shares and the $145.4 million estimated fair value of the equity issued. The equity issued to Biogen was valued using an option pricing model to reflect certain holding period restrictions. None of the target selection fees and clinical or regulatory milestones have been included in the transaction price, as all such amounts are fully constrained. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that nomination of additional targets and achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price as uncertain events are resolved or other changes in circumstances occur.

The Company has identified a single performance obligation within the Biogen collaboration agreement, which is a stand-ready obligation consisting of a series of distinct days of research services, during which Biogen obtains access to the Company’s license and research resources. Revenue from the upfront license fee relates to access to the license and Company’s obligation to stand-ready to perform such research services corresponding to the targets selected by Biogen. As a result of this obligation to perform research services when and if requested throughout the duration of the contract, the upfront license fee and the excess consideration from the stock purchase will be recognized over time on a straight-line basis consistent with the resources expected to be dedicated to providing the research services through April 2027, the estimated period of the obligation. The estimated period of performance is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverable. Revenue from the reimbursement by Biogen of shared costs of early research activities performed by Sangamo is recognized as the research services are performed. As of December 31, 2021 and 2020, the Company had a receivable of $2.8 million and $2.7 million, respectively, and deferred revenue of $154.0 million and $183.2 million, respectively, related to this agreement.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Biogen agreement:
Recognition of license and stand-ready fee	$	29,224	$	21,356	$	—
Research services	13,076		6,545		—
Total	$	42,300	$	27,901	$	—

The Company paid $7.0 million for financial advisory fees during the year ended December 31, 2020, equal to 2% of $225.0 million received for the sale of shares and 2% of $125.0 million received for the upfront fee. The fees incurred related to both the collaboration agreement with Biogen and to the stock purchase agreement for the sale of shares. The Company believes that the allocation of fees on a relative fair value basis between the two agreements is reasonable. The Company recognized $4.1 million, which represents 2% of the transaction price of $204.6 million, as a contract asset. This balance is amortized and included in general and administrative expenses on a systematic basis consistent with the transfer of the services to Biogen in accordance with ASC Topic 340. The Company amortized $0.6 million and $0.4 million during the years ended

December 31, 2021 and 2020, respectively. The Company recognized $2.9 million, which represented 2% of the $145.4 million estimated fair value of the equity issued, as a share issuance cost and recorded this amount in equity as a reduction in net proceeds.

Kite Pharma, Inc.

In February 2018, the Company entered into a global collaboration and license agreement with Kite Pharma, Inc. (“Kite”), a Gilead Sciences, Inc. company, which became effective in April 2018, and was amended and restated in September 2019, for the research, development, and commercialization of potential engineered cell therapies for cancer. In this collaboration, Sangamo is working together with Kite on a research program under which the companies are designing zinc finger nucleases (“ZFNs”) and viral vectors to disrupt and insert certain genes in T cells and natural killer cells (“NK-cells”) including the insertion of genes that encode chimeric antigen receptors (“CARs”), T cell receptors (“TCRs”), and NK-cell receptors (“NKRs”) directed to mutually agreed targets. Kite is responsible for all clinical development, manufacturing and commercialization of any resulting products.

Subject to the terms of this agreement, the Company granted Kite an exclusive, royalty-bearing, worldwide sublicensable license under the Company’s relevant patents and know-how to develop, manufacture and commercialize, for the purpose of treating cancer, specific cell therapy products that may result from the research program and that are engineered ex vivo using selected ZFNs and viral vectors developed under the research program to express CARs, TCRs or NKRs directed to candidate targets.

During the research program term and subject to certain exceptions, except pursuant to this agreement, the Company is prohibited from researching, developing, manufacturing and commercializing, for the purpose of treating cancer, any cell therapy product that, as a result of ex vivo genome editing, expresses a CAR, TCR or NKR that is directed to a target expressed on or in a human cancer cell. After the research program term concludes and subject to certain exceptions, except pursuant to this agreement, the Company will be prohibited from developing, manufacturing and commercializing, for the purpose of treating cancer, any cell therapy product that, as a result of ex vivo genome editing, expresses a CAR, TCR or NKR that is directed to a candidate target.

Following the effective date, the Company received a $150.0 million upfront payment from Kite. In addition, Kite also reimburses the Company’s direct costs to conduct the joint research program. Sangamo is also eligible to receive contingent development- and sales-based milestone payments that could total up to $3.0 billion if all of the specified milestones set forth in this agreement are achieved. Of this amount, approximately $1.3 billion relates to the achievement of specified research, clinical development, regulatory and first commercial sale milestones, and approximately $1.8 billion relates to the achievement of specified sales-based milestones if annual worldwide net sales of licensed products reach specified levels. Each development- and sales-based milestone payment is payable (i) only once for each licensed product, regardless of the number of times that the associated milestone event is achieved by such licensed product and, (ii) only for the first 10 times that the associated milestone event is achieved regardless of the number of licensed products that may achieve such milestone event. In addition, the Company is entitled to receive escalating, tiered royalty payments with a percentage in the single digits based on future annual worldwide net sales of licensed products. These royalty payments are subject to reduction due to patent expiration, entry of biosimilar products to the market and payments made under certain licenses for third-party intellectual property.

The initial research term in the agreement is six years. Kite has an option to extend the research term for up to two additional one-year periods for a separate upfront fee of $10.0 million per year. All contingent payments under the agreement, when earned, will be non-refundable and non-creditable. In connection with the amendment and restatement of the agreement in September 2019, the Company entered into a new research plan with Kite, with estimated reimbursable service cost of approximately $3.4 million, which is included in the total transaction price. The Company concluded the total transaction price under this agreement is $189.3 million and includes the upfront license fee of $150.0 million and $39.3 million estimated reimbursable service costs for identified research projects over the estimated performance period. Further, the Company concluded the estimated fees for the presumed exercise of the research term extension options and all milestone amounts are fully constrained. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future events which are uncertain at this time. The Company will re-evaluate the transaction price including the estimated variable consideration included in the transaction price and all constrained amounts in each reporting period and as uncertain events are resolved or other changes in circumstances occur. None of the development and sales-based milestone payments have been included in the transaction price.

The Company assessed the agreement with Kite in accordance with ASC Topic 606 and concluded that Kite is a customer. Kite has the right to terminate this agreement in its entirety or on a per licensed product or per candidate target basis for any reason after a specified notice period. Each party has the right to terminate this agreement on account of the other party’s bankruptcy or material, uncured breach.

The Company has identified the primary performance obligations within the Kite agreement as: (1) a license to the technology along with the stand-ready obligation to perform research services, and (2) the ongoing research services. Revenue from the upfront license fee relates to access to the license and Company’s obligation to stand-ready to perform such research services as additional targets are selected by Kite. As a result of this obligation to perform research services when and if requested throughout the duration of the contract, the fee for the license and the stand-ready obligation will be recognized over time on a straight-line basis through April 2024, the estimated period of the stand-ready obligation. Revenue from the reimbursable costs related to the integrated service deliverable is recognized as the research services are performed. Related costs and expenses under these arrangements have historically approximated the revenues recognized. The estimated period of performance and project cost is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. As of December 31, 2021, and 2020 the Company had a receivable of $0.1 million and $0.4 million, respectively, and deferred revenue of $56.5 million and $81.4 million, respectively, related to this agreement.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Kite agreement:
Recognition of license and stand-ready fee	$	24,977	$	25,046	$	24,977
Research services	476		3,562		9,373
Total	$	25,453	$	28,608	$	34,350

Pfizer Inc.

Giroctocogene Fitelparvovec Global Collaboration and License Agreement

In May 2017, the Company entered into an exclusive global collaboration and license agreement with Pfizer, pursuant to which it established a collaboration for the research, development, and commercialization of giroctocogene fitelparvovec, its gene therapy product candidate for hemophilia A, and closely related products.

Under this agreement, the Company is responsible for conducting the Phase 1/2 clinical trial and for certain manufacturing activities for giroctocogene fitelparvovec, while Pfizer is responsible for subsequent worldwide development, manufacturing, marketing and commercialization of giroctocogene fitelparvovec. Sangamo may also collaborate in the research and development of additional AAV-based gene therapy products for hemophilia A.

Subject to the terms of the agreement, the Company granted Pfizer an exclusive worldwide royalty-bearing license, with the right to grant sublicenses, to use certain technology controlled by the Company for the purpose of developing, manufacturing and commercializing giroctocogene fitelparvovec and related products. Pfizer granted the Company a non-exclusive, worldwide, royalty-free, fully paid license, with the right to grant sublicenses, to use certain manufacturing technology developed under the agreement and controlled by Pfizer to manufacture the Company’s products that utilize the AAV delivery system. During a specified period, neither the Company nor Pfizer is permitted to clinically develop or commercialize, outside of the collaboration, certain AAV-based gene therapy products for hemophilia A.

Unless earlier terminated, the agreement has a term that continues on a per product and per country basis until the later of (i) the expiration of patent claims that cover the product in a country, (ii) the expiration of regulatory exclusivity for a product in a country, and (iii) fifteen years after the first commercial sale of a product in a country. Pfizer has the right to terminate the agreement without cause in its entirety or on a per product or per country basis. The agreement may also be terminated by either party based on an uncured material breach by the other party or the bankruptcy of the other party. Upon termination for any reason, the license granted by the Company to Pfizer to develop, manufacture and commercialize giroctocogene fitelparvovec and related products will automatically terminate. Upon termination by the Company for cause or by Pfizer in any country or countries, Pfizer will automatically grant the Company an exclusive, royalty-bearing license under certain technology controlled by Pfizer to develop, manufacture and commercialize giroctocogene fitelparvovec in the terminated country or countries.

Upon execution of the agreement, the Company received an upfront fee of $70.0 million and is eligible to receive up to $208.5 million in payments upon the achievement of specified clinical development, intellectual property and regulatory milestones and up to $266.5 million in payments upon first commercial sale milestones for giroctocogene fitelparvovec and potentially other products. The total amount of potential clinical development, intellectual property, regulatory and first commercial sale milestone payments, assuming the achievement of all specified milestones in the agreement, is up to $475.0 million, which includes up to $300.0 million for giroctocogene fitelparvovec and up to $175.0 million for other products that may be developed under the agreement, subject to reduction on account of payments made under certain licenses for third-party intellectual property. In addition, Pfizer agreed to pay the Company royalties for each potential licensed product developed under the agreement that are an escalating tiered, double-digit percentage of the annual net sales of such product and

are subject to reduction due to patent expiration, entry of biosimilar products to the market and payment made under certain licenses for third-party intellectual property. To date, two milestones of $55.0 million in aggregate have been achieved and paid, however no products have been approved and therefore no royalty fees have been earned under the agreement.

The Company assessed the agreement with Pfizer in accordance with ASC Topic 606 and concluded that Pfizer is a customer. The total transaction price under this agreement is $134.0 million, which represents the upfront fee and research services fees of $79.0 million and fees related to two achieved milestones in an aggregate amount of $55.0 million. Sangamo is responsible for internal and external research costs as part of the upfront fee and has the ability to request additional reimbursement from Pfizer if certain conditions are met. None of the constrained clinical or regulatory milestones have been included in the transaction price. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price, including its estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

The Company has identified the performance obligations within the agreement as a license to the technology and ongoing research services. The Company concluded that the license is not discrete as it does not have stand-alone value to Pfizer apart from the research services to be performed by the Company pursuant to the agreement. As a result, the Company recognized revenue from the upfront payment based on proportional performance of the ongoing research services through 2020, the period the Company performed research services. The estimation of progress towards the satisfaction of its performance obligation and project cost was reviewed quarterly and adjusted, as needed, to reflect the Company’s assumptions regarding the timing of its deliverables. In December 2020, the Company satisfied the deliverables and research services responsibilities within the arrangement. As a result, the Company recognized the remaining deferred revenue from the upfront payment in December 2020 and no revenue has been recognized during the year ended December 31, 2021.

In December 2019, the Company entered into an amendment to the collaboration agreement, pursuant to which the Company transferred the IND for giroctocogene fitelparvovec to Pfizer. Upon this transfer the Company achieved a $25.0 million milestone as the conditions for achieving the milestone were met. The cumulative revenue recognized in connection with this milestone was $25.0 million as of December 31, 2020 and included $1.3 million recognized during the year ended December 31, 2020.

In September 2020, the Company determined that there was a high probability of achievement of a $30.0 million milestone with Pfizer for giroctocogene fitelparvovec. The milestone was subsequently achieved upon dosing of the first subject in a Phase 3 clinical trial in early October 2020. The cumulative revenue recognized in connection with this milestone was $30.0 million during the year ended December 31, 2020.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Pfizer giroctocogene fitelparvovec agreement:
Recognition of upfront fee and research services	$	—	$	3,111	$	15,697
Milestone achievement	—		31,338		23,662
Total	$	—	$	34,449	$	39,359

In March 2019, the Company updated its estimated project cost and related revenues under this program. This adjustment was a direct result of the increase in project scope during the first quarter of 2019 and the corresponding costs, which resulted in a decrease in the measure of proportional performance. In December 2019, the Company updated its estimated project cost and related revenues upon transfer of the IND for giroctocogene fitelparvovec to Pfizer. This adjustment was a direct result of the decrease in project scope during the fourth quarter of 2019 and the corresponding costs, which resulted in an increase in the measure of proportional performance. During the year ended December 31, 2019, the Company recognized $15.7 million in revenues related to the Pfizer giroctocogene fitelparvovec agreement, which included approximately $8.7 million acceleration in revenues recorded in the three months ended December 31, 2019 related to the updated estimated project cost, offset by approximately $3.0 million reduction in revenues recorded in the three months ended March 31, 2019 related to the updated estimated project cost.

In March 2020, the Company recorded an adjustment to revenue related to a change in estimate in connection with the giroctocogene fitelparvovec collaboration agreement with Pfizer. This adjustment was a direct result of the decision to decrease the project scope and the corresponding costs, after the successful IND transfer of the giroctocogene fitelparvovec product candidate to Pfizer, both of which resulted in an increase in the measure of proportional cumulative performance. This

adjustment increased revenue by $2.4 million, decreased net loss by $2.4 million and decreased the Company’s basic net loss per share by $0.02 for year ended December 31, 2020.

C9ORF72 Research Collaboration and License Agreement

In December 2017, the Company entered into a separate exclusive, global collaboration and license agreement with Pfizer for the development and commercialization of potential gene therapy products that use ZFP-TFs to treat amyotrophic lateral sclerosis and frontotemporal lobar degeneration linked to mutations of the C9ORF72 gene. Pursuant to this agreement, the Company agreed to work with Pfizer on a research program to identify, characterize and preclinically develop ZFP-TFs that bind to and specifically reduce expression of the mutant form of the C9ORF72 gene.

Subject to the terms of this agreement, the Company granted Pfizer an exclusive, royalty-bearing, worldwide license under the Company’s relevant patents and know-how to develop, manufacture and commercialize gene therapy products that use resulting ZFP-TFs that satisfy pre-agreed criteria. During a specified period, neither the Company nor Pfizer will be permitted to research, develop, manufacture or commercialize outside of the collaboration any ZFPs that specifically bind to the C9ORF72 gene.

Unless earlier terminated, the agreement has a term that continues on a per licensed product and per country basis until the later of (i) the expiration of patent claims that cover the licensed product in a country, (ii) the expiration of regulatory exclusivity for a licensed product in a country, and (iii) fifteen years after the first commercial sale of a licensed product in a major market country. Pfizer also has the right to terminate the agreement without cause in its entirety or on a per product or per country basis. The agreement may also be terminated by either party based on an uncured material breach by the other party or the bankruptcy of the other party. The agreement will also terminate if the Company is unable to identify any lead candidates for development within a specified period of time or if Pfizer elects not to advance a lead candidate beyond a certain development milestone within a specified period of time. Upon termination for any reason, the license granted by the Company to Pfizer to develop, manufacture and commercialize licensed products under the agreement will automatically terminate. Upon termination by the Company for cause or by Pfizer without cause for any licensed product or licensed products in any country or countries, the Company will have the right to negotiate with Pfizer to obtain a non-exclusive, royalty-bearing license under certain technology controlled by Pfizer to develop, manufacture and commercialize the licensed product or licensed products in the terminated country or countries.

Following termination by the Company for Pfizer’s material breach, Pfizer will not be permitted to research, develop, manufacture or commercialize ZFPs that specifically bind to the C9ORF72 gene for a period of time. Following termination by Pfizer for the Company’s material breach, the Company will not be permitted to research, develop, manufacture or commercialize ZFPs that specifically bind to the C9ORF72 gene for a period of time.

The Company received a $12.0 million upfront payment from Pfizer and is eligible to receive up to $60.0 million in development milestone payments from Pfizer contingent on the achievement of specified preclinical development, clinical development and first commercial sale milestones, and up to $90.0 million commercial milestone payments if annual worldwide net sales of the licensed products reach specified levels. In addition, Pfizer will pay the Company royalties based on an escalating tiered, mid to high single digit percentage of the annual worldwide net sales of the licensed products. These royalty payments are subject to reduction due to patent expiration, entry of biosimilar products to the market and payments made under certain licenses for third-party intellectual property. Each party will be responsible for the cost of its performance of the research program. Pfizer will be operationally and financially responsible for subsequent development, manufacturing and commercialization of the licensed products. To date, a milestone of $5.0 million has been achieved and paid, however no products have been approved and therefore no royalty fees have been earned under the C9ORF72 Pfizer agreement.

The Company assessed the agreement with Pfizer in accordance with ASC Topic 606 and concluded that Pfizer is a customer. The Company concluded the total transaction price under this agreement is $17.0 million, which represents the upfront fees of $12.0 million and fees related to achievement of one milestone in the amount of $5.0 million. None of the constrained clinical or regulatory milestones have been included in the transaction price. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price, including its estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

The Company has identified the performance obligations within this agreement as a license to the technology and ongoing research services. The Company concluded that the license is not discrete as it does not have stand-alone value to Pfizer apart from the services to be performed by the Company pursuant to the agreement. As a result, the Company recognized revenue from the upfront payment based on proportional performance of the ongoing research services through 2020, the period the Company performed research services. The estimation of progress towards the satisfaction of its performance obligation and

project cost was reviewed quarterly and adjusted, as needed, to reflect the Company’s assumptions regarding the timing of its deliverables. The Company satisfied the deliverables and research services responsibilities within the arrangement in September 2020, and as a result, recognized the remaining deferred revenue from the upfront payment in September 2020.

In September 2020, the Company earned a $5.0 million milestone associated with the completion of the Company’s research activities in its collaboration with Pfizer to develop genome regulation therapies using ZFP-TFs for the treatment of C9ORF72-related ALS and frontotemporal lobar degeneration. This milestone was achieved upon Pfizer’s notification to the Company of its election to pay the first development milestone payment under the collaboration agreement. This milestone payment is non-refundable, and the Company recognized on a cumulative basis $5.0 million for the year ended December 31, 2020.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Pfizer C9ORF72 agreement:
Recognition of upfront fee	$	—	$	7,985	$	1,827
Milestone achievement	—		5,000		—
Total	$	—	$	12,985	$	1,827

During the year ended December 31, 2020, the Company recorded adjustments to revenue related to changes in estimate in connection with the C9ORF72 collaboration agreement with Pfizer. These adjustments were a direct result of the decision to decrease the project scope and the corresponding costs due to advancement of the program, which resulted in an increase in the measure of proportional cumulative performance. These adjustments increased revenue by $8.8 million, decreased net loss by $8.8 million and decreased the Company’s basic net loss per share by $0.06 for the year ended December 31, 2020.

Sanofi S.A.

In January 2014, the Company entered into an exclusive worldwide collaboration and license agreement to develop therapeutics for hemoglobinopathies, focused on beta thalassemia and sickle cell disease (“SCD”). The agreement was originally signed with BIMA, who subsequently assigned it to Bioverativ Inc., which was later acquired by Sanofi. Under the agreement, the Company was originally jointly conducting two research programs: a beta thalassemia program, which was discontinued in the third quarter of 2021, and the SCD program, which resulted in the development of SAR445136, a ZF nuclease, gene-edited cell therapy product candidate for the treatment of SCD, which remains active.

In December 2021, Sanofi notified the Company of its termination for convenience, effective June 28, 2022 (the “Termination Date”), of the collaboration agreement. In its notice to the Company, Sanofi indicated that its termination relates to Sanofi’s change in strategic direction to focus on allogeneic universal genomic medicine approaches rather than autologous personalized cell therapies. As of the Termination Date, the collaboration agreement will be terminated in its entirety and following the Termination Date, the Company will not be entitled to receive any further milestone payments or royalties from Sanofi. As of the Termination Date, Sanofi will have no further obligations to develop or to fund the development of any collaboration research programs under the collaboration agreement.

In the SCD program, the Company and Sanofi were jointly responsible for research and development activities prior to filing of an IND, but Sanofi is now responsible for subsequent worldwide clinical development, manufacturing and commercialization of licensed products developed under the agreement. Subject to the terms of the agreement, the Company had granted Sanofi an exclusive, royalty-bearing license, with the right to grant sublicenses, to use certain ZFP and other technology controlled by the Company for the purpose of researching, developing, manufacturing and commercializing licensed products developed under the agreement. The Company had also granted Sanofi a non-exclusive worldwide, royalty-free fully paid license with the right to grant sublicenses, under the Company’s interest in certain other intellectual property developed pursuant to the agreement. During the term of the agreement, the Company is not permitted to research, develop, manufacture or commercialize, outside of the agreement, certain gene therapy products that target genes relevant to the licensed products.

Under the agreement, the Company received an upfront license fee of $20.0 million and was eligible to receive up to $115.8 million in payments upon the achievement of specified clinical development and regulatory milestones, as well as up to $160.5 million in payments upon the achievement of specified sales milestones. The total amount of potential regulatory, clinical development, and sales milestone payments, assuming the achievement of all specified milestones in the agreement, was up to $276.3 million. In addition, the Company was to receive royalty payments for each licensed product that are a tiered double-digit percentage of annual net sales of each product. Sanofi was to reimburse Sangamo for agreed upon costs incurred in connection with research and development activities conducted by Sangamo. To date, a $6.0 million milestone has been

achieved related to ST-400 for beta thalassemia and another $7.5 million milestone has been achieved related to SCD, however no products have been approved and therefore no royalty fees have been earned under the Sanofi agreement.

All contingent payments under the agreement, when earned, were non-refundable and non-creditable. The transaction price of $96.3 million includes the upfront license fee of $20.0 million, two unconstrained milestones in the amount of $13.5 million and estimated research costs of $62.8 million for identified research projects over the estimated performance period, as all unachieved milestone amounts are fully constrained. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price, including the estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur. None of the constrained clinical or regulatory milestones have been included in the transaction price.

The Company assessed the agreement with Sanofi in accordance with ASC Topic 606 and concluded that Sanofi is a customer. The Company has identified the performance obligations within this arrangement as a license to the technology and ongoing research services activities. The Company concluded that the license is not discrete as it does not have stand-alone value to Sanofi apart from the research services to be performed pursuant to the agreement. As a result, the Company recognizes revenue from the upfront payment based on proportional performance of the ongoing research services through June 28, 2022, the estimated period the Company will perform research services. The estimation of progress towards the satisfaction of performance obligation and project cost is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. Related costs and expenses under these arrangements have historically approximated the revenues recognized. As of December 31, 2021 and 2020, the Company had a receivable of $0.6 million and $1.0 million, respectively, and deferred revenue of $1.1 million and $1.2 million, respectively, related to this agreement.

In August 2019, the Company achieved a $6.0 million milestone with Sanofi upon dosing of the third subject in the ST‑400 beta thalassemia Phase 1 clinical trial. The cumulative revenue recognized in connection with this milestone was approximately $5.9 million as of December 31, 2021 and included $0.1 million recognized during the year ended December 31, 2021.

In December 2019, the Company achieved a $7.5 million milestone with Sanofi upon dosing of the first subject in the SCD Phase 1 clinical trial. The cumulative revenue recognized in connection with this milestone was approximately $7.3 million as of December 31, 2021 and included $0.1 million recognized during the year ended December 31, 2021.

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Sanofi agreement:
Recognition of upfront fee	$	34	$	298	$	3,494
Research services	3,057		4,823		6,367
Milestone achievement	23		201		12,819
Total	$	3,114	$	5,322	$	22,680

During the year ended December 31, 2021, the Company recorded adjustments to revenue related to changes in estimates in connection with the collaboration agreement with Sanofi. These changes in estimates were driven by a change in project scope and related project costs in September 2021 and subsequent notification of termination of the collaboration agreement which resulted in changes to the measure of proportional cumulative performance. These adjustments decreased revenue by $1.6 million, increased net loss by $1.6 million and increased the Company’s basic and diluted net loss per share by $0.01 for the year ended December 31, 2021.

During the year ended December 31, 2020, the Company recorded an adjustment to revenue related to a change in estimate in connection with the collaboration agreement with Sanofi. This adjustment was a direct result of the decision in March 2020 to increase the project scope and the corresponding costs, both of which resulted in a decrease in the measure of proportional cumulative performance. This adjustment decreased revenue by $2.2 million, increased net loss by $2.2 million and increased the Company’s basic net loss per share by $0.02 for the year ended December 31, 2020.

California Institute for Regenerative Medicine

In May 2018, the California Institute for Regenerative Medicine (“CIRM”) granted a Strategic Partnership Award for $8.0 million to fund the clinical studies of a potentially curative ZFP therapeutic for the treatment of beta thalassemia based on the application of Sangamo’s ZFN genome editing technology. The grant provided matching funds to support ST-400, a gene-edited cell therapy candidate for people with transfusion-dependent beta thalassemia. Under the terms of the CIRM grant, the Company was obligated to pay royalties and licensing fees based on a low single digit royalty percentage on net sales of CIRM-funded product candidates or CIRM-funded technology. The Company had the option to decline any and all amounts awarded by CIRM and as an alternative to revenue sharing, the Company had the option to convert the award to a loan, however no such election had been made as of December 31, 2020. The Company had received $5.2 million under the award as of December 31, 2020. The Company had recorded $6.4 million, including accrued interest of $1.2 million, as a loan related to this award in other non-current liabilities on the Consolidated Balance Sheet as of December 31, 2020.

As a result of the November 2021 decision to discontinue the development of ST‑400 in order to prioritize the development of other product candidates, the grant was terminated. In connection with the termination and discontinuation of the program, the Company elected not to convert the award to a loan and recognized the non-refundable award amount of $5.2 million as a reduction of research and development expenses, and $1.2 million of accrued interest on the award as interest and other income, net, on the Company’s Consolidated Statements of Operations for the year ended December 31, 2021. No amounts related to this award were included on the Consolidated Balance Sheet as of December 31, 2021.

Agreement with Sigma-Aldrich Corporation

In 2007, Sangamo entered into a license agreement with Sigma-Aldrich Corporation (“Sigma”) to provide Sigma with access to Sangamo’s proprietary ZFP technology and the exclusive right to use the technology to develop and commercialize research reagent products and services in the research field, excluding certain agricultural research uses that Sangamo previously licensed to Dow AgroSciences LLC (“DAS”), a wholly-owned subsidiary of Dow Chemical Company. Sangamo developed laboratory research reagents using its ZFP technology over a three-year research services period. Sangamo has since transferred the ZFP manufacturing technology to Sigma.

In October 2009, Sangamo expanded its license agreement with Sigma. In addition to the original terms of the license agreement, Sigma received exclusive rights to develop and distribute ZFP-modified cell lines for commercial production of protein pharmaceuticals and certain ZFP-engineered transgenic animals for commercial applications. Under the terms of the agreement, Sigma made an upfront cash payment of $20.0 million consisting of a $4.9 million purchase of 636,133 shares of Sangamo common stock, valued at $4.9 million, and a $15.1 million upfront license fee. Sangamo is also eligible to receive commercial license fees of $5.0 million based upon a percentage of net sales and sublicensing revenue and thereafter a reduced royalty rate of 10.5% of net sales and sublicensing revenue. In addition, upon the achievement of certain cumulative commercial milestones, Sigma will make milestone payments to Sangamo up to an aggregate of $25.0 million. Sangamo does not have additional ongoing performance obligations under the agreement.

Revenues recognized under the agreement with Sigma for the years ended December 31, 2021, 2020 and 2019, were $1.1 million, $0.5 million and $0.6 million, respectively.

Agreement with DAS

In 2005, Sangamo entered into an exclusive commercial license with DAS, with an initial three-year research term. Under this agreement, Sangamo is providing DAS with access to its proprietary ZFP technology and the exclusive right to use the technology to modify the genomes or alter the nucleic acid or protein expression of plant cells, plants, or plant cell cultures. Sangamo has retained rights to use plants or plant-derived products to deliver ZFP-TFs or ZFNs into humans or animals for diagnostic, therapeutic or prophylactic purposes. In 2008, DAS exercised its option and obtained a commercial license to sell products incorporating or derived from plant cells generated using the Company’s ZFP technology. The exercise of the option triggered a one-time commercial license fee of $6.0 million, payment of the remaining $2.3 million of the previously agreed upon $4.0 million in research milestones, development and commercialization milestone payments for each product, and royalties on sales of products. In December 2010, the Company amended its agreement with DAS to extend the period of reagent manufacturing services and research services through December 31, 2012.

The agreement with DAS provided that DAS has the right to enter into certain sublicenses with third parties to use ZFP products derived from Company’s ZFP technology (“Licensing Program”) and also provided for minimum annual payment obligations each year due to Sangamo every October, provided the Licensing Program is not terminated by DAS. Annual fees ranged from $0.3 million to $3.0 million and totaled $25.3 million over 11 years, with the last payment being in October 2020 in the amount of $3.0 million. The Company had identified the performance obligation within this arrangement as a license to the technology. In July 2021, DAS gave notice to the Company of termination of the Licensing Program, effective as of September 2021. However, Sangamo’s sublicense to DAS remains in effect, as does the DAS agreement itself. In the event of any termination of the agreement, all rights to use the Company’s ZFP technology will revert to Sangamo, and DAS

will no longer be permitted to practice Sangamo’s ZFP technology or to develop or, except in limited circumstances, commercialize any products derived from the Company’s ZFP technology.

Revenues under the agreement with DAS were $0.2 million, $3.0 million, and $3.0 million during 2021, 2020 and 2019, respectively.

ACQUISITION OF SANGAMO FRANCE

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

ACQUISITION OF SANGAMO FRANCE

In 2018, Sangamo entered into various agreements with the goal of eventually acquiring 100% of Sangamo France’s share capital, including arrangements with the holders of approximately 477,000 free shares of Sangamo France pursuant to which the Company had the right to purchase such shares from the holders (a call option), and such holders had the right to sell to the Company such shares from time to time through mid-2021 (a put option) (collectively the “Free Shares Options”). As of December 31, 2021, the Company acquired all of the 477,000 free shares, resulting in 100% ownership of Sangamo France.

On October 1, 2018 (the “Acquisition Date”), the fair value of the Free Shares Options was estimated to be a liability of $0.2 million. See Note 2 – Fair Value Measurement – Free Shares Asset for information regarding the valuation method. The fair value of the Free Shares Options varied based on changes in the Company’s stock price during the option period. The fair value of the Free Shares Options was estimated to be an asset of $0.1 million as of December 31, 2020.

The acquisition of Sangamo France was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations, in exchange for total consideration of approximately $45.9 million at the Acquisition Date. The operating results of Sangamo France after the Acquisition Date have been included in the Company’s Consolidated Statements of Operations. There was no goodwill impairment during the years ended December 31, 2021, 2020 or 2019.

Non-controlling Interest

Prior to the acquisition of all the free shares, the fair value of the remaining non-controlling interest was determined based on the number of outstanding free shares comprising the non-controlling interest and the $2.99 acquisition price per share as of the Acquisition Date. The non-controlling interest was presented as a component of stockholders’ equity on the Company’s Consolidated Balance Sheet as of December 31, 2020. As of December 31, 2021, upon acquisition of 100% of ordinary shares of Sangamo France, the carrying amount of the non-controlling interest was recorded as additional paid‑in capital on the Company’s Consolidated Balance Sheet.

Non-controlling interest as of December 31, 2021 was as follows (in thousands):


	Total
Balance at beginning of year	$	(868)
Fair value of additional shares acquired	(64)
Loss attributable to non-controlling interest	(11)
Buy-out of non-controlling interest	$	943
Balance at end of year	$	—

OTHER BALANCE SHEET DETAILS

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

OTHER BALANCE SHEET DETAILS

Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	December 31,
	2021		2020
Laboratory equipment	$	31,988	$	24,737
Leasehold improvements	21,970		15,953
Furniture and fixtures	9,080		4,870
Manufacturing equipment	8,781		1,089
Construction in progress	4,729		12,091
	76,548		58,740
Less: accumulated depreciation and amortization	(25,025)		(17,416)
Property and equipment, net	$	51,523	$	41,324

Depreciation and amortization expense was $9.4 million in 2021, $5.7 million in 2020 and $3.9 million in 2019.

Intangible Assets

The changes in intangible assets were as follows (in thousands):


	December 31,
	2021		2020
Balance at beginning of year	$	58,128	$	53,156

Foreign currency translation adjustment	(4,368)		4,972
Balance at end of year	$	53,760	$	58,128

Goodwill

The changes in goodwill were as follows (in thousands):


	December 31,
	2021		2020
Balance at beginning of year	$	42,798	$	39,273

Foreign currency translation adjustment	(3,096)		3,525
Balance at end of year	$	39,702	$	42,798

Other Accrued Liabilities

Other accrued liabilities consist of the following (in thousands):


	December 31,
	2021		2020
Accrued research and development expenses	$	4,878	$	4,257
Operating lease liabilities – current	4,026		3,690
Accrued professional fees	869		1,532
Customer advance	—		5,000
Other	1,804		4,133
Total other accrued liabilities	$	11,577	$	18,612

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Leases

Sangamo occupies approximately 87,700 square feet of office and research and development laboratory facilities in Brisbane, California pursuant to a lease that expires in May 2029. Sangamo also occupies approximately 59,485 square feet of research and office space, subject to a lease that expires in August 2031, and approximately 7,700 of office space, subject to a lease that expires in August 2026, in Richmond, California. In addition, the Company leases approximately 25,600 square feet of office and research and development space in Valbonne, France, subject to leases that expire beginning in June 2025 through January 2030.

In May 2020, the Company entered into an amendment to an existing lease to acquire approximately 8,500 square feet of additional research and office space in Richmond, California. The amended lease was effective October 1, 2020, and the Company recorded a lease liability and corresponding right-of-use asset of $1.3 million upon inception of this amended lease.

In January 2021, the Company entered into an amendment to an existing lease to acquire approximately 5,000 square feet of research and office space in Richmond, California. With this amendment, the existing lease expires in August 2026. Total lease payments over the life of this amended lease are approximately $0.9 million. Variable lease payments include the Company’s allocated share of costs incurred and expenditures made by the landlord in the operation and management of the building. On February 1, 2021, the lease commencement date, the Company recorded an operating lease right-of-use asset and a corresponding lease liability of $0.7 million.

In January 2021, the Company also entered into a new lease to acquire approximately 5,800 square feet of research and office space in Valbonne, France, which expires in January 2030. Total lease payments over the life of this amended lease are approximately $0.8 million. Variable lease payments include the Company’s allocated share of costs incurred and expenditures made by the landlord in the operation and management of the building. On January 29, 2021, the lease commencement date, the Company recorded an operating lease right-of-use asset and a corresponding lease liability of $0.6 million.

In October 2021, the Company entered into an agreement to extend the lease of its research and office space in Richmond, California by five years until August 2031. The Company also leased an additional 7,997 square feet of office space at the same location from November 2021 through August 2031. The amended lease was effective October 1, 2021, and the Company recorded an adjustment to the lease liability and the corresponding right-of-use asset of $9.1 million upon inception of this amended lease. Pursuant to the terms of the amended lease, the landlord agreed to reimburse the Company up to $2.6 million, related to a tenant improvement allowance.

Certain of these leases include renewal options at the election of the Company to renew or extend the lease for an additional five to ten years. These optional periods have not been considered in the determination of the ROU assets or lease liabilities associated with these leases as the Company did not consider it reasonably certain it would exercise the options.

The Company performed evaluations of its contracts and determined each of its identified leases are operating leases. Components of operating leases were as follows (in thousands):


	December 31,
	2021		2020
Operating lease cost	$	10,839	$	10,400
Variable lease cost	2,831		2,300
Total	$	13,670	$	12,700

Variable lease expenses were not included in the measurement of the Company’s operating ROU assets and lease liabilities. This variable expense consists primarily of the Company’s proportionate share of operating expenses, property taxes and insurance and is classified as lease expense, due to the Company’s election to not separate lease and non-lease components.

Cash paid for amounts included in the measurement of operating lease liabilities for the year ended December 31, 2021 was $6.9 million and was included in net cash used in operating activities in the Company’s Consolidated Statement of Cash Flows.

Rent expense related to lease agreements was $10.8 million, $10.4 million, and $7.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. Future minimum payments under lease obligations at December 31, 2021 consist of the following (in thousands):


	Total
2022	$	6,605
2023	7,332
2024	7,486
2025	7,566
2026	7,543
Thereafter	23,310
Total lease payments	59,842
Less:
Imputed interest	(11,761)
Total	$	48,081

Reported as of December 31, 2021:
Short-term portion of lease liabilities (included in other accrued liabilities on the Consolidated Balance Sheet)	$	4,026
Long-term portion of lease liabilities	44,055
Total	$	48,081

As of December 31, 2021, the weighted-average remaining lease term is 8.0 years and the weighted-average incremental borrowing rate used to determine the operating lease liability was 5.6% for the Company’s operating leases.

Contractual Commitments

The following table sets forth the non-cancelable material contractual commitments under manufacturing-related supplier arrangements as of December 31, 2021 (in thousands):

Party

Total commitments

Expiry date

Brammer Bio MA - a Thermo Fisher Scientific Inc. subsidiary

3,727

December 2022

Lonza Netherlands, B.V.

7,267

December 2022

Total contractual commitments

10,994

The Company also had $0.8 million of license obligations related to its intellectual property as of December 31, 2021.

Contingencies

Sangamo is not party to any material pending legal proceeding. From time to time, Sangamo may be involved in legal proceedings arising in the ordinary course of business.

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Preferred Stock

The Company’s Certificate of Incorporation authorizes the Company to issue up to 5,000,000 shares of preferred stock, which may be issued at the discretion of the Company’s Board of Directors. As of December 31, 2021, no shares of the Company’s preferred stock have been issued or are outstanding.

Common Stock

In June 2020, the Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation to increase the total number of shares of the Company’s common stock authorized for issuance from 160,000,000 shares to 320,000,000 shares. As of December 31, 2021, 145,921,530 shares of the Company’s common stock are outstanding.

In connection with the collaboration agreement with BIMA described in Note 4 of these Consolidated Financial Statements, the Company entered into a stock purchase agreement with BIMA, pursuant to which BIMA agreed to purchase the Biogen Shares at a price per share of $9.2137, for an aggregate purchase price of $225.0 million. The Company closed the sale of the Biogen Shares in April 2020.

In April 2019, the Company completed an underwritten public offering of its common stock, in which the Company sold an aggregate of 12.7 million shares of its common stock at a public offering price of $11.50 per share. The net proceeds to the Company from the sale of shares in this offering, after deducting underwriting discounts and commissions and other offering expenses, were approximately $136.3 million.

At-the-Market Offering Agreement

In August 2020, the Company entered into an Open Market Sale Agreement℠ with Jefferies LLC (“Jefferies”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of the Company’s common stock having an aggregate offering price of up to $150.0 million through Jefferies as the Company’s sales agent or principal. The Company is not obligated to sell any shares under the sales agreement. As of December 31, 2021, the Company sold 2,007,932 shares of its common stock for net proceeds of approximately $27.1 million. As of December 31, 2020, no shares had been sold under the sales agreement.

2018 Equity Incentive Plan

In May 2020, the Company’s stockholders approved an amendment and restatement of the 2018 Equity Incentive Plan (the “2018 Plan”), to, among other things, increase the aggregate number of shares of the Company’s common stock reserved for issuance under the 2018 Plan by 9,900,000 shares.

The exercise price of a stock option granted under the 2018 Plan may not be less than 100% of the fair market value of the Company’s common stock subject to the stock option on the date of grant, and the option term will not exceed 10 years. If the person to whom the stock option is granted is a 10% stockholder of the Company, and the stock option granted qualifies as an incentive stock option, then the exercise price per share will not be less than 110% of the fair market value of the Company’s common stock on the date of grant, and the option term will not exceed five years. Generally, stock options granted under the 2018 Plan vest over four years at a rate of 25% on the one-year anniversary of the date of grant and 1/48 per month thereafter and expire 10 years after the date of grant, or earlier upon termination of employment or services to the Company.

The number of shares of common stock reserved for issuance under the 2018 Plan will be reduced: (i) on a 1-for-1 basis for each share of common stock subject to a stock option or stock appreciation right granted under the plan, (ii) by a fixed ratio of 1.33 shares of common stock for each share of common stock issued pursuant to a full-value award granted under the plan.

Shares subject to any outstanding stock options or other awards under the 2018 Plan that expire or otherwise terminate prior to the issuance of the shares subject to those stock options or awards will be available for subsequent issuance under the 2018 Plan. Any unvested shares issued under the 2018 Plan that the Company subsequently purchases, pursuant to repurchase rights under the 2018 Plan, will be added back to the number of shares reserved for issuance under the 2018 Plan on a 1-for-1 basis or a 1.33-for-1 basis (depending on the ratio at which the share reserve was debited for the original award) and will accordingly be available for subsequent issuance in accordance with the terms of the 2018 Plan.

As of December 31, 2021, there were 7,799,855 shares of the Company’s common stock reserved for future awards under the Company’s 2018 Plan.

2020 Employee Stock Purchase Plan

In May 2021, the Company’s stockholders approved the Company’s 2020 Employee Stock Purchase Plan (“the ESPP”). The ESPP provides for a total of 5.0 million shares of common stock reserved for issuance thereunder. Eligible employees may purchase common stock at 85% of the lesser of the fair market value of the Company’s common stock on the first day of the applicable two-year offering period or the last day of the applicable six-month purchase period. As of December 31, 2021, there were 4,782,452 shares of the Company’s common stock reserved for future issuance under the ESPP.

Stock Option Activity

A summary of the Company’s stock option activity is as follows:


	Number of Shares	Weighted- Average Exercise per Share Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
				(in years)	(in thousands)
Options outstanding at December 31, 2020	11,478,698	$	10.02
Options granted	3,619,775	$	11.13
Options exercised	(725,058)	$	7.79
Options canceled	(2,410,138)	$	10.67
Options outstanding at December 31, 2021	11,963,277	$	10.36	7.30	$	4,603

Options exercisable at December 31, 2021	6,541,228	$	10.51	6.14	$	3,968

The intrinsic value of options exercised was $2.8 million, $5.4 million and $4.7 million during the years ended December 31, 2021, 2020 and 2019, respectively.

Restricted Stock Units

During the years ended December 31, 2021, 2020 and 2019, the Company awarded 2,140,785, 2,517,101, and 834,745 RSUs, respectively. The RSUs awarded in the years ended December 31, 2021, 2020 and 2019 had an average grant date fair value per award of $11.16, $8.06 and $9.49, respectively. These awards generally vest in a series of three successive equal annual installments. The aggregate fair value of RSUs vested during the years ended December 31, 2021, 2020 and 2019 was $9.0 million, $3.7 million and $2.0 million, respectively.

A summary of the Company’s RSU activity is as follows:


	Number of Shares	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
		(in years)	(in thousands)
RSUs outstanding at December 31, 2020	2,671,528
RSUs awarded	2,140,785
RSUs released	(985,350)
RSUs forfeited	(687,369)
RSUs outstanding at December 31, 2021	3,139,594	1.02	$	23,547

RSUs that vested in the years ended December 31, 2021, 2020 and 2019 were net-share settled such that the Company withheld shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other

employment taxes and remitted the cash to the appropriate taxing authorities. The total shares withheld were approximately 293,120, 90,617, and 39,160 for the years ended December 31, 2021, 2020 and 2019, respectively, and were based on the value of the RSUs on their respective issuance dates as determined by the Company’s closing stock price. Total payments for the employees’ tax obligations to taxing authorities were $3.3 million, $0.8 million and $0.4 million in the years ended December 31, 2021, 2020 and 2019, respectively and are reflected as a financing activity within the accompanying Consolidated Statements of Cash Flows. These net-share settlements had the effect of share repurchases by the Company as they reduced and retired the number of shares that would have otherwise been issued as a result of the vesting and did not represent an expense to the Company.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
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-Subparagraph (d)
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+ Details

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The following table shows total stock-based compensation expense recognized in the accompanying Consolidated Statements of Operations (in thousands):


	Year Ended December 31,
	2021		2020		2019
Research and development	$	19,534	$	13,523	$	10,135
General and administrative	13,422		12,185		9,195
Total stock-based compensation expense	$	32,956	$	25,708	$	19,330

As of December 31, 2021, total stock-based compensation expense to be recognized in future periods related to unvested stock options was $31.6 million, which is expected to be expensed over a weighted-average period of 2.59 years. As of December 31, 2021, total stock-based compensation expense to be recognized in future periods related to unvested RSUs was $21.8 million, which is expected to be expensed over a weighted-average period of 1.76 years. There was no capitalized stock-based employee compensation expense as of December 31, 2021, 2020 or 2019.

Valuation Assumptions

Employee stock-based compensation expense was determined using the Black-Scholes option valuation model for stock options and employee share purchases under the ESPP. Option valuation models require the input of subjective assumptions and these assumptions can vary over time. The fair value of RSUs was based on the closing price of the underlying common stock on the date of grant.

The Company bases its determination of expected volatility through its assessment of the historical volatility of its common stock. The Company relied on its historical exercise and post-vested termination activity for estimating its expected term for use in determining the fair value of these options.

The weighted-average estimated fair value per share of options granted during the years ended December 31, 2021, 2020 and 2019 was $7.34, $5.25, and $6.37, respectively, based upon the assumptions used in the Black-Scholes valuation model. The assumptions used for estimating the fair value of the employee stock options were as follows:


	Year Ended December 31,
	2021	2020	2019
Risk-free interest rate	0.95-1.22%	0.34-0.61%	1.68-2.25%
Expected term (in years)	5.46-5.52	5.51-5.57	5.50-5.62
Expected dividend yield of stock	—	—	—
Expected volatility	77.30-79.77%	77.61-80.32%	76.46-78.39%

Employees purchased 433,107, 274,382 and 249,364 shares of common stock through the ESPP at a weighted-average exercise price of $7.78, $7.34, and $8.53 per share during the years ended December 31, 2021, 2020 and 2019, respectively. The weighted-average estimated fair values of shares purchased under the Company’s ESPP during the years ended December 31, 2021, 2020 and 2019 were $4.48, $8.02 and $4.70, respectively, based upon the assumptions used in the Black-Scholes valuation model.

The assumptions used for estimating the fair value of the ESPP purchase rights are as follows:


	Year Ended December 31,
	2021	2020	2019
Risk-free interest rate	0.01-2.80%	1.53-2.80%	1.53-2.42%
Expected term (in years)	0.01-2.0	0.5-2.0	0.5-2.0
Expected dividend yield of stock	—	—	—
Expected volatility	32.54-97.88%	51.02-91.96%	51.02-91.96%

EMPLOYEE BENEFIT PLAN	12 Months Ended
EMPLOYEE BENEFIT PLAN	Dec. 31, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLAN	EMPLOYEE BENEFIT PLAN The Company sponsors a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code covering all full-time employees (“Sangamo 401(k) Plan”). The Sangamo 401(k) Plan is intended to qualify under Section 401 of the Internal Revenue Code. The Company matched employee contributions equal to 100% in 2021 and 50% for the first 8% in 2020 and 2019, up to a limit of $4,000 in 2021, 2020 and 2019. Matching funds are fully vested when contributed. Contributions to the Sangamo 401(k) Plan by the Company were $1.5 million, $1.2 million, and $0.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

The domestic and foreign components of loss before income taxes were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	(185,216)	$	(126,624)	$	(77,354)
Foreign	7,225		5,847		(18,065)
Loss before income taxes	$	(177,991)	$	(120,777)	$	(95,419)

Income tax expense consisted of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax expense:
Current:
Federal	$	—	$	—	$	—
State	—		133		—
Foreign	886		686		—
Subtotal	886		819		—
Deferred:
Federal	—		—		—
State	—		—		—
Foreign	(580)		(474)		—
Subtotal	(580)		(474)		—
Income tax expense	$	306	$	345	$	—

The difference between the income tax expense and the amount computed by applying the federal statutory income tax rate to loss before income taxes is explained as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Tax at federal statutory rate	$	(37,372)	$	(25,363)	$	(20,038)
State taxes, net	(6,734)		(3,168)		(9,597)
Foreign rate differential	362		376		(665)
Global Intangible Low-taxed Income	637		1,335		—
Non-deductible stock-based compensation	2,770		4,232		2,817
Research credits	(5,230)		(3,657)		(3,429)
Change in valuation allowance	45,373		26,537		29,655
Other	500		53		1,257
Income tax expense	$	306	$	345	$	—

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):


	December 31,
	2021		2020
Assets:
Deferred tax assets:
Net operating loss carryforwards	$	159,740	$	164,276
Research and development tax credit carryforwards	35,260		27,679
Stock-based compensation	6,691		5,321
Deferred revenue	61,114		20,681
Fixed assets	10,130		10,525
Lease liability	11,279		10,251
Accruals and reserves	1,119		430
Other	106		308
Total deferred tax asset	285,439		239,471
Valuation allowance	259,820		214,351
Deferred tax assets	25,619		25,120
Liabilities:
Intangible assets	(13,856)		(14,321)
Operating lease right-of-use assets	(17,348)		(17,510)
Deferred tax liabilities	(31,204)		(31,831)
Total net deferred tax liabilities	$	(5,585)	$	(6,711)

The deferred tax assets and liabilities based on tax jurisdictions are presented on the Consolidated Balance Sheets as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets (included in Other non-current assets on the Consolidated Balance Sheets)	$	1,060	$	474
Deferred tax liabilities	(6,645)		(7,185)
Net deferred tax liabilities	$	(5,585)	$	(6,711)

A valuation allowance is recorded when it is more likely than not that all or some portion of the deferred income tax assets will not be realized. The Company regularly assesses the need for a valuation allowance against its deferred income tax assets by considering both positive and negative evidence related to whether it is more likely than not that the Company’s deferred income tax assets will be realized. In evaluating the Company’s ability to recover its deferred income tax assets within the jurisdiction from which they arise, the Company considers all available positive and negative evidence, including scheduled reversals of deferred income tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. Accordingly, based upon the Company’s analysis of these factors the net deferred tax assets have been substantially offset by a valuation allowance. The valuation allowance increased by $45.5 million, $26.6 million and $29.6 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, Sangamo had net operating loss carryforwards for federal and state income tax purposes of approximately $605.6 million and $253.9 million, respectively. The federal net operating loss generated before 2018 will begin to expire in 2022 and will keep expiring through 2037, if not utilized. Federal net operating loss generated from 2018 will carry forward indefinitely. If not utilized, the state net operating loss carryforwards will begin to expire in 2029, respectively. The Company’s French net operating loss carryforward balance is $144.1 million, which carries over indefinitely. The Company also has federal and state research tax credit carryforwards of $28.2 million and $22.1 million, respectively. The federal research credits will begin to expire in 2022, while the state research credits have no expiration date. Utilization of the Company’s net operating loss carryforwards and research tax credit carryforwards may be subject to substantial annual limitations due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. The annual limitation could result in the expiration of the net operating loss carryforwards and research tax credit carryforwards before utilization.

The Company’s policy is to reinvest the earnings of its non-U.S. subsidiaries in those operations. The Company does not provide for U.S. taxes on the earnings of foreign subsidiaries because the Company intends to reinvest such earnings offshore indefinitely. However, if these funds were repatriated, the Company would be required to accrue and pay applicable U.S. taxes and withholding taxes. Due to the cumulative losses generated in foreign countries there are no earnings to repatriate.

The Company files federal and state income tax returns with varying statutes of limitations. The tax years from 2002 forward remain open to examination due to the carryover of net operating losses or tax credits. The Company also files the United Kingdom and French income tax returns, and the tax years from 2008 and thereafter remain open in the United Kingdom, and the tax years 2018 and thereafter in France are still subject to examination.

The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of December 31, 2021, the Company had $0.1 million accrued interest and/or penalties. The unrecognized tax benefits may change during the next year for items that arise in the ordinary course of business. In the event that any unrecognized tax benefits are recognized, the amount that would impact the effective tax rate was $1.2 million, $0.6 million, and zero as of December 31, 2021, 2020 and 2019, respectively.

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):


	December 31,
	2021		2020		2019
Beginning balance	$	12,892	$	11,630	$	6,288
Additions based on tax positions related to the current year	2,454		2,834		5,393
Additions for tax positions of prior years	130		1,982		—
Reductions for tax positions of prior years	(414)		(3,554)		(51)
Ending balance	$	15,062	$	12,892	$	11,630

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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+ Details

RELATED PARTY TRANSACTION	12 Months Ended
RELATED PARTY TRANSACTION	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTION	RELATED PARTY TRANSACTIONThe Company acquired 185,400 vested free shares from a former executive of Sangamo, pursuant to the exercise of the Free Shares Options for approximately $0.4 million of cash during the year December 31, 2020. There were no material related party transactions during the year ended December 31, 2021.

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in the Consolidated Financial Statements. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to non-controlling interests on its Consolidated Statements of Operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties.
Use of Estimates	Use of EstimatesThe preparation of the accompanying Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. On an ongoing basis, management evaluates its estimates including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, income taxes, fair value of assets and liabilities, including from acquisitions, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company accounts for its revenues pursuant to the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). The Company’s contract revenues are derived from collaboration agreements including licensing arrangements and research activity grants. Research and licensing agreements typically include upfront signing or license fees, cost reimbursements for research services, minimum sublicense fees, milestone payments and royalties on future licensee’s product sales. The Company has agreements with both fixed and variable consideration. Non-refundable upfront fees and funding of research and development activities are considered fixed, while milestone payments are generally identified as variable consideration. Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenues under research grant agreements are generally recognized when the related qualified research expenses are incurred. Deferred revenue primarily represents the portion of research or license payments received but not earned. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company’s performance obligations include license rights, development services and services associated with regulatory submission and approval processes. Revenues from research services earned under collaboration agreements are generally recognized as revenue as the related services are provided. Revenues from non-refundable upfront fees are recognized over time either by measuring progress towards satisfaction of the relevant performance obligation, using the input method (i.e., cumulative actual costs incurred relative to total estimated costs) or on a straight-line basis when a performance obligation is expected to be satisfied evenly over a period of time (or when the entity has a stand-ready obligation). Significant management judgment is required to determine the level of effort required under an arrangement, and the period over which the Company expects to complete its performance obligations under the arrangement, which may include total internal personnel costs and external costs to be incurred as well as, in certain cases, the estimated stand-ready obligation period. Changes in these estimates can have a material effect on revenue recognized. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. The Company includes the unconstrained amount of estimated variable consideration in the transaction price. The amount included in the transaction price is constrained to the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. The estimated period of performance and project costs, such as personnel and manufacturing cost, are reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. Related costs and expenses under these arrangements have historically approximated the revenues recognized. Funds received from the Company’s collaboration partners are generally not refundable and are recorded as revenue as the Company fulfills its performance obligations, which are satisfied over time (i.e., stand‑ready obligations) or by using the input method (i.e., cumulative actual costs incurred relative to total estimated costs). Revenue is also recognized when the Company has incurred qualified research and development costs that are reimbursable from its collaboration partners and when there is reasonable assurance that such costs will be reimbursed. Any payments received from a collaboration partner in advance of the completion of the relevant performance obligation are recorded as deferred revenue.
Accounts Receivable	Accounts ReceivableAccounts receivable consists of amounts billed to the Company’s collaboration partners for cost reimbursements for research services. Receivables from collaborations are typically unsecured and are concentrated in the biopharmaceutical industry. Accordingly, the Company may be exposed to credit risk generally associated with biopharmaceutical companies or specific to its collaboration agreements. The Company records trade receivables net of allowances for credit losses. The Company applies an aging method to estimate credit losses and considers its historical loss information, adjusted to account for current conditions, and reasonable and supportable forecasts of future economic conditions affecting its customers. As of December 31, 2021, the Company had not incurred any losses related to these receivables.
Goodwill and Intangible Assets	Goodwill and Intangible AssetsGoodwill represents the excess of consideration transferred over the fair values of assets acquired and liabilities assumed in a business combination. Intangible assets with indefinite useful lives are related to purchased in-process research and development (“IPR&D”) projects and are measured at their respective fair values as of the acquisition date. Goodwill and intangible assets with indefinite useful lives are not amortized. Intangible assets related to IPR&D projects are considered to be indefinite-lived until the completion or abandonment of the associated research and development efforts. If and when development is complete, which generally occurs if and when regulatory approval to market a product is obtained, the associated assets would be deemed finite-lived and would then be amortized based on their respective estimated useful lives at that point in time. The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis and between annual tests if the Company becomes aware of any events occurring or changes in circumstances that would indicate the fair values of the assets are below their respective carrying amounts.
Valuation of Long-Lived Assets	Valuation of Long-lived AssetsLong-lived assets, including property and equipment and finite-lived intangible assets, are reviewed for impairment whenever facts or circumstances either internally or externally may suggest that the carrying value of an asset may not be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of each asset to the future undiscounted cash flows expected to result from the use of the asset and its eventual disposition. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset.
Fair Value Measurements	Fair Value Measurements The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and other accrued liabilities approximate fair value due to their short-term maturities. Marketable securities are stated at their estimated fair values. The free shares asset is measured using a binomial-lattice pricing model and is reviewed each reporting period and adjusted as needed to approximate fair value.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted CashSangamo considers all highly-liquid investments purchased with original maturities of three months or less at the purchase date to be cash equivalents. Cash and cash equivalents consist of cash and deposits in demand money market accounts.
Marketable Securities	Marketable Securities Sangamo classifies its marketable securities as available-for-sale and records its investments at estimated fair value based on quoted market prices or observable market inputs of almost identical assets, with the unrealized holding gains and losses included in accumulated other comprehensive income (loss) (“AOCI”). The Company classifies those investments that are not required for use in current operations and that mature in more than 12 months as non-current marketable securities in the accompanying Consolidated Balance Sheets. The Company’s investments are subject to a periodic impairment review. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. Realized gains and losses on marketable securities are included in interest and other income, net, which are determined using the specific identification method. Credit losses related to the marketable securities are recorded in interest and other income (expense), net in the Consolidated Statements of Operations through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities.
Concentrations of Credit Risk and Other Risks	Concentrations of Credit Risk and Other Risks Cash, cash equivalents, and marketable securities consist of financial instruments that potentially subject the Company to a concentration of credit risk to the extent of the fair value recorded in the Consolidated Balance Sheets. The Company invests cash that is not required for immediate operating needs primarily in highly liquid instruments that bear minimal risk. The Company has established policies relating to the quality, diversification, and maturities of securities to enable the Company to manage its credit risk. The Company is exposed to credit risk in the event of a default by the financial institutions or issuers of investments holding its cash, cash equivalents, and investments to the extent recorded on the Consolidated Balance Sheets. Certain materials and key components that the Company utilizes in its operations are obtained through single suppliers. Since the suppliers of key components and materials must be named in an investigational new drug application (“IND”) filed with the U.S. Food and Drug Administration for a product, significant delays can occur if the qualification of a new supplier is required. If delivery of material from the Company’s suppliers were interrupted for any reason, the Company may be unable to supply any of its product candidates for clinical trials.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets which is generally three to five years. For leasehold improvements, amortization is calculated using the straight-line method based on the shorter of the useful life or the lease term. The Company reviews its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Research and Development Expenses	Research and Development Expenses Research and development expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, clinical studies performed by contract research organizations, materials and supplies and overhead allocations consisting of various support and facility-related costs. Research and development costs are expensed as incurred.
General and Administrative Expenses	General and Administrative Expenses General and administrative expenses consist of finance, human resources, legal and other administrative activities. These expenses consist primarily of personnel costs, including salaries, benefits and stock-based compensation, facilities and overhead costs, legal expenses, and other general and administrative costs.
Stock-based Compensation	Stock-based Compensation The Company measures and recognizes compensation expense for all stock-based payment awards made to Sangamo employees and directors, including employee share options, restricted stock units (“RSUs”) and employee stock purchases related to the Employee Stock Purchase Plan (“ESPP”) based on estimated fair values at the award grant date. The fair value of stock-based awards is amortized over the vesting period of the award using a straight-line method. To estimate the fair value of an award, the Company uses the Black-Scholes option pricing model. This model requires inputs such as expected life, expected volatility, expected dividends and risk-free interest rate. These inputs are subjective and generally require significant analysis and judgment to develop. While estimates of expected life and volatility are derived primarily from the Company’s historical data, the risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected life assumption. The Company accounts for forfeitures in the period they occur.
Income Taxes	Income Taxes Income tax expense has been calculated using the liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. The Company provides a valuation allowance against net deferred tax assets if, based upon the available evidence, it is not more likely than not that the deferred tax assets will be realized. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s Consolidated Financial Statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. The Company recognizes interest and penalties associated with tax matters as part of the income tax provision and includes accrued interest and penalties with the related income tax liability within other accrued liabilities on its Consolidated Balance Sheets. The Company evaluates uncertain tax positions on a regular basis and makes adjustments to these accruals when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate.
Leases	Leases The Company determines if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable. As the implicit rate in the Company’s leases is generally unknown, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of remaining lease payments. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease in a similar economic environment. The Company considers its credit risk, term of the lease, and total lease payments and adjusts for the impacts of collateral, as necessary, when calculating its incremental borrowing rates. The lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise any such options. Rent expense for the Company’s operating leases is recognized on a straight-line basis over the lease term. The Company has elected not to separate lease and non-lease components for its real estate and copier leases and, as a result, accounts for any lease and non-lease components as a single lease component. The Company has also elected not to apply the recognition requirement to any leases with a term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise.
Foreign Currency Translation	Foreign Currency Translation The functional currency of the Company’s foreign subsidiaries is primarily the Euro. Assets and liabilities denominated in foreign currencies are translated to U.S. dollars using the exchange rates at the balance sheet date. Foreign currency translation adjustments are recorded as a component of AOCI within stockholders’ equity. Revenues and expenses from the Company’s foreign subsidiaries are translated using the monthly average exchange rates in effect during the period in which the transactions occur. Foreign currency transaction gains and losses are recorded in interest and other income, net, on the Company’s Consolidated Statements of Operations.
Net Loss Per Share	Net Loss Per Share Basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders has been computed by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders is calculated by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock plus potentially dilutive securities outstanding during the period. The total number of shares subject to stock options and RSUs outstanding and the ESPP shares reserved for issuance, which are all anti-dilutive, were excluded from consideration in the calculation of diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders.
Segments	SegmentsThe Company operates in one segment. Management uses one measure of profitability and does not segregate its business for internal reporting.
Recent Accounting Pronouncements	Recent Accounting Pronouncements None.

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Revenue from Strategic Partnering Collaboration Agreements and Research Activity Grants as a Percentage of Total Revenues

Revenues from major collaboration agreements and research activity grants as a percentage of total revenues were as follows:


	Year Ended December 31,
	2021		2020		2019
Biogen MA, Inc.	38	%	24	%	—
Novartis Institutes for BioMedical Research, Inc.	34	%	4	%	—
Kite Pharma, Inc.	23	%	24	%	34	%
Sanofi S.A.	3	%	5	%	22	%
Pfizer Inc.	—	%	40	%	40	%

Schedules of Percentage of Accounts Receivable by Collaboration Partners

As of December 31, 2021 and 2020, the percentage of accounts receivable by collaboration partners who individually accounted for 10% or more of accounts receivable were as follows:


	As of December 31,
	2021		2020
Biogen MA, Inc.	46	%	52	%
Novartis Institutes for BioMedical Research, Inc.	32	%	21	%
Sanofi S.A.	11	%	19	%

Schedule of Cash and Cash Equivalents


	As of December 31,
	2021		2020		2019
Cash and cash equivalents	$	178,872	$	131,329	$	80,428

Non-current restricted cash	1,500		1,500		1,500
Cash, cash equivalents, and restricted cash as reported within the Consolidated Statements of Cash Flows	$	180,372	$	132,829	$	81,928

Restrictions on Cash and Cash Equivalents


	As of December 31,
	2021		2020		2019
Cash and cash equivalents	$	178,872	$	131,329	$	80,428

Non-current restricted cash	1,500		1,500		1,500
Cash, cash equivalents, and restricted cash as reported within the Consolidated Statements of Cash Flows	$	180,372	$	132,829	$	81,928

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Securities and Free Share Liability


	December 31, 2021
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	119,919	$	119,919	$	—	$	—

Total	119,919		119,919		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	30,614		—		30,614		—
Commercial paper securities	105,757		—		105,757		—
Corporate debt securities	33,682		—		33,682		—
Certificates of deposit	45,091		—		45,091		—
Asset-backed securities	70,701		—		70,701		—
Total	285,845		—		285,845		—
Total cash equivalents and marketable securities	$	405,764	$	119,919	$	285,845	$	—


	December 31, 2020
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	53,165	$	53,165	$	—	$	—

Total	53,165		53,165		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	257,298		—		257,298		—
Commercial paper securities	213,533		—		213,533		—
Corporate debt securities	59,574		—		59,574		—
Certificates of deposits	12,311		—		12,311		—
Asset-backed securities	17,908		—		17,908		—
Total	560,624		—		560,624		—
Total cash equivalents and marketable securities	$	613,789	$	53,165	$	560,624	$	—

Free shares asset	$	70	$	—	$	—	$	70

Summary of Estimated Fair Value of Free Share Liability Assumptions



Free Shares valuation assumptions:	December 31, 2020
Sangamo stock price (USD)	$	15.61
Sangamo France stock price (EUR)	€	3.85
EUR/ USD exchange rate	0.82
Estimated correlation between Sangamo and Sangamo France stock prices	100.0		%
Sangamo stock price (USD) volatility estimate	88.9		%
Sangamo France stock price (EUR) volatility estimate	88.9		%
EUR/ USD exchange rate volatility estimate	6.3		%
Risk free rate and cost of debt by expected exercise date	Varies

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

The table below summarizes the Company’s cash equivalents and marketable securities (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
December 31, 2021
Assets
Cash equivalents:
Money market funds	$	119,919	$	—	$	—	$	119,919

Total	119,919		—		—		119,919
Marketable securities:
U.S. government-sponsored entity debt securities	30,700		1		(87)		30,614
Commercial paper securities	105,792		7		(42)		105,757
Corporate debt securities	33,723		1		(42)		33,682
Certificates of deposit	45,116		1		(26)		45,091
Asset-backed securities	70,807		1		(107)		70,701
Total	286,138		11		(304)		285,845
Total cash equivalents and marketable securities	$	406,057	$	11	$	(304)	$	405,764

December 31, 2020
Assets
Cash equivalents:
Money market funds	$	53,165	$	—	$	—	$	53,165

Total	53,165		—		—		53,165
Marketable securities:
U.S. government-sponsored entity debt securities	257,284		19		(5)		257,298
Commercial paper securities	213,500		41		(8)		213,533
Corporate debt securities	59,575		16		(17)		59,574
Certificates of deposit	12,311		—		—		12,311
Asset-backed securities	17,905		10		(7)		17,908
Total	560,575		86		(37)		560,624
Total cash equivalents and marketable securities	$	613,740	$	86	$	(37)	$	613,789

Investments Classified by Contractual Maturity Date

The fair value of marketable securities by contractual maturity were as follows (in thousands):


	December 31,
	2021		2020
Maturing in one year or less	$	197,676	$	510,094
Maturing after one year through five years	88,169		50,530
Total	$	285,845	$	560,624

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES (Tables)

12 Months Ended

Dec. 31, 2021

Novartis Institutes for BioMedical Research, Inc.

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Novartis agreement:
Recognition of upfront license fee	$	29,945	$	4,143	$	—
Research services	7,999		1,109		—
Total	$	37,944	$	5,252	$	—

Biogen MA, Inc.

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Biogen agreement:
Recognition of license and stand-ready fee	$	29,224	$	21,356	$	—
Research services	13,076		6,545		—
Total	$	42,300	$	27,901	$	—

Kite Pharma, Inc.

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Kite agreement:
Recognition of license and stand-ready fee	$	24,977	$	25,046	$	24,977
Research services	476		3,562		9,373
Total	$	25,453	$	28,608	$	34,350

Pfizer, Giroctocogene Fitelparvovec

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Pfizer giroctocogene fitelparvovec agreement:
Recognition of upfront fee and research services	$	—	$	3,111	$	15,697
Milestone achievement	—		31,338		23,662
Total	$	—	$	34,449	$	39,359

Pfizer C9ORF72

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Pfizer C9ORF72 agreement:
Recognition of upfront fee	$	—	$	7,985	$	1,827
Milestone achievement	—		5,000		—
Total	$	—	$	12,985	$	1,827

Sanofi S.A.

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Revenues recognized under agreement

Revenues recognized under the agreement were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue related to Sanofi agreement:
Recognition of upfront fee	$	34	$	298	$	3,494
Research services	3,057		4,823		6,367
Milestone achievement	23		201		12,819
Total	$	3,114	$	5,322	$	22,680

ACQUISITION OF SANGAMO FRANCE (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Summary of Non-controlling Interest

Non-controlling interest as of December 31, 2021 was as follows (in thousands):


	Total
Balance at beginning of year	$	(868)
Fair value of additional shares acquired	(64)
Loss attributable to non-controlling interest	(11)
Buy-out of non-controlling interest	$	943
Balance at end of year	$	—

OTHER BALANCE SHEET DETAILS (Tables)

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Summary of Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	December 31,
	2021		2020
Laboratory equipment	$	31,988	$	24,737
Leasehold improvements	21,970		15,953
Furniture and fixtures	9,080		4,870
Manufacturing equipment	8,781		1,089
Construction in progress	4,729		12,091
	76,548		58,740
Less: accumulated depreciation and amortization	(25,025)		(17,416)
Property and equipment, net	$	51,523	$	41,324

Schedule of Intangible Assets and Goodwill

The changes in intangible assets were as follows (in thousands):


	December 31,
	2021		2020
Balance at beginning of year	$	58,128	$	53,156

Foreign currency translation adjustment	(4,368)		4,972
Balance at end of year	$	53,760	$	58,128

The changes in goodwill were as follows (in thousands):


	December 31,
	2021		2020
Balance at beginning of year	$	42,798	$	39,273

Foreign currency translation adjustment	(3,096)		3,525
Balance at end of year	$	39,702	$	42,798

Summary of Accounts Payable and Accrued Liabilities

Other accrued liabilities consist of the following (in thousands):


	December 31,
	2021		2020
Accrued research and development expenses	$	4,878	$	4,257
Operating lease liabilities – current	4,026		3,690
Accrued professional fees	869		1,532
Customer advance	—		5,000
Other	1,804		4,133
Total other accrued liabilities	$	11,577	$	18,612

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Lease, Cost

The Company performed evaluations of its contracts and determined each of its identified leases are operating leases. Components of operating leases were as follows (in thousands):


	December 31,
	2021		2020
Operating lease cost	$	10,839	$	10,400
Variable lease cost	2,831		2,300
Total	$	13,670	$	12,700

Lessee, Operating Lease, Liability, Maturity

Future minimum payments under lease obligations at December 31, 2021 consist of the following (in thousands):


	Total
2022	$	6,605
2023	7,332
2024	7,486
2025	7,566
2026	7,543
Thereafter	23,310
Total lease payments	59,842
Less:
Imputed interest	(11,761)
Total	$	48,081

Reported as of December 31, 2021:
Short-term portion of lease liabilities (included in other accrued liabilities on the Consolidated Balance Sheet)	$	4,026
Long-term portion of lease liabilities	44,055
Total	$	48,081

Other Commitments

The following table sets forth the non-cancelable material contractual commitments under manufacturing-related supplier arrangements as of December 31, 2021 (in thousands):

Party

Total commitments

Expiry date

Brammer Bio MA - a Thermo Fisher Scientific Inc. subsidiary

3,727

December 2022

Lonza Netherlands, B.V.

7,267

December 2022

Total contractual commitments

10,994

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity is as follows:


	Number of Shares	Weighted- Average Exercise per Share Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
				(in years)	(in thousands)
Options outstanding at December 31, 2020	11,478,698	$	10.02
Options granted	3,619,775	$	11.13
Options exercised	(725,058)	$	7.79
Options canceled	(2,410,138)	$	10.67
Options outstanding at December 31, 2021	11,963,277	$	10.36	7.30	$	4,603

Options exercisable at December 31, 2021	6,541,228	$	10.51	6.14	$	3,968

Summary of Restricted Stock Unit Activity

A summary of the Company’s RSU activity is as follows:


	Number of Shares	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
		(in years)	(in thousands)
RSUs outstanding at December 31, 2020	2,671,528
RSUs awarded	2,140,785
RSUs released	(985,350)
RSUs forfeited	(687,369)
RSUs outstanding at December 31, 2021	3,139,594	1.02	$	23,547

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation Expense

The following table shows total stock-based compensation expense recognized in the accompanying Consolidated Statements of Operations (in thousands):


	Year Ended December 31,
	2021		2020		2019
Research and development	$	19,534	$	13,523	$	10,135
General and administrative	13,422		12,185		9,195
Total stock-based compensation expense	$	32,956	$	25,708	$	19,330

Assumptions Used for Estimating Fair Value of Employee Stock Options

The assumptions used for estimating the fair value of the employee stock options were as follows:


	Year Ended December 31,
	2021	2020	2019
Risk-free interest rate	0.95-1.22%	0.34-0.61%	1.68-2.25%
Expected term (in years)	5.46-5.52	5.51-5.57	5.50-5.62
Expected dividend yield of stock	—	—	—
Expected volatility	77.30-79.77%	77.61-80.32%	76.46-78.39%

Weighted-Average Assumptions Used for Estimating Fair Value of ESPP Purchase Rights

The assumptions used for estimating the fair value of the ESPP purchase rights are as follows:


	Year Ended December 31,
	2021	2020	2019
Risk-free interest rate	0.01-2.80%	1.53-2.80%	1.53-2.42%
Expected term (in years)	0.01-2.0	0.5-2.0	0.5-2.0
Expected dividend yield of stock	—	—	—
Expected volatility	32.54-97.88%	51.02-91.96%	51.02-91.96%

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Domestic and Foreign Components of Loss Before Income Taxes

The domestic and foreign components of loss before income taxes were as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	(185,216)	$	(126,624)	$	(77,354)
Foreign	7,225		5,847		(18,065)
Loss before income taxes	$	(177,991)	$	(120,777)	$	(95,419)

Summary of Benefit for Income Taxes

ncome tax expense consisted of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax expense:
Current:
Federal	$	—	$	—	$	—
State	—		133		—
Foreign	886		686		—
Subtotal	886		819		—
Deferred:
Federal	—		—		—
State	—		—		—
Foreign	(580)		(474)		—
Subtotal	(580)		(474)		—
Income tax expense	$	306	$	345	$	—

Schedule of Difference Between Benefit for Income Taxes and Federal Statutory Income Tax Rate

The difference between the income tax expense and the amount computed by applying the federal statutory income tax rate to loss before income taxes is explained as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Tax at federal statutory rate	$	(37,372)	$	(25,363)	$	(20,038)
State taxes, net	(6,734)		(3,168)		(9,597)
Foreign rate differential	362		376		(665)
Global Intangible Low-taxed Income	637		1,335		—
Non-deductible stock-based compensation	2,770		4,232		2,817
Research credits	(5,230)		(3,657)		(3,429)
Change in valuation allowance	45,373		26,537		29,655
Other	500		53		1,257
Income tax expense	$	306	$	345	$	—

Schedule of Company's Deferred Tax Assets

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):


	December 31,
	2021		2020
Assets:
Deferred tax assets:
Net operating loss carryforwards	$	159,740	$	164,276
Research and development tax credit carryforwards	35,260		27,679
Stock-based compensation	6,691		5,321
Deferred revenue	61,114		20,681
Fixed assets	10,130		10,525
Lease liability	11,279		10,251
Accruals and reserves	1,119		430
Other	106		308
Total deferred tax asset	285,439		239,471
Valuation allowance	259,820		214,351
Deferred tax assets	25,619		25,120
Liabilities:
Intangible assets	(13,856)		(14,321)
Operating lease right-of-use assets	(17,348)		(17,510)
Deferred tax liabilities	(31,204)		(31,831)
Total net deferred tax liabilities	$	(5,585)	$	(6,711)

The deferred tax assets and liabilities based on tax jurisdictions are presented on the Consolidated Balance Sheets as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets (included in Other non-current assets on the Consolidated Balance Sheets)	$	1,060	$	474
Deferred tax liabilities	(6,645)		(7,185)
Net deferred tax liabilities	$	(5,585)	$	(6,711)

Summary of Activity Related to Company's Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):


	December 31,
	2021		2020		2019
Beginning balance	$	12,892	$	11,630	$	6,288
Additions based on tax positions related to the current year	2,454		2,834		5,393
Additions for tax positions of prior years	130		1,982		—
Reductions for tax positions of prior years	(414)		(3,554)		(51)
Ending balance	$	15,062	$	12,892	$	11,630

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021 USD ($) segment $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares
Organization and Summary of Significant Accounting Policies [Line Items]
Revenues	$ 110,701,000	$ 118,192,000	$ 102,428,000
Net loss	$ (178,297,000)	$ (121,122,000)	$ (95,419,000)
Earnings per share, basic (in dollars per share) \| $ / shares	$ (1.23)	$ (0.90)	$ (0.85)
Goodwill and intangible asset impairment	$ 0
Impairment of long-lived assets held-for-use	0
Letter of credit	$ 1,500,000
Stock options and RSUs outstanding (in shares) \| shares	15,159,908	14,237,871	10,750,550
Number of operating segments \| segment	1
Pfizer SB-525
Organization and Summary of Significant Accounting Policies [Line Items]
Revenues	$ 0
Pfizer SB-525 \| Change in collaboration agreement scope \| Collaborative arrangement
Organization and Summary of Significant Accounting Policies [Line Items]
Revenues	1,600,000	$ 8,900,000	$ 5,700,000
Net loss	$ 1,600,000	$ 8,900,000	$ 5,700,000
Earnings per share, basic (in dollars per share) \| $ / shares	$ 0.01	$ 0.06	$ 0.05
Minimum
Organization and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives of related assets	3 years
Maximum
Organization and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives of related assets	5 years

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES - Revenues from Strategic Partnering Collaboration Agreements and Research Activity Grants (Detail) - Revenue from Contract with Customer - Revenue From Collaboration Agreements, Grants And Licensing Concentration Risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Biogen MA, Inc.
Concentration Risk [Line Items]
Percentage of revenues	38.00%	24.00%	0.00%
Novartis Institutes for BioMedical Research, Inc.
Concentration Risk [Line Items]
Percentage of revenues	34.00%	4.00%	0.00%
Kite Pharma, Inc.
Concentration Risk [Line Items]
Percentage of revenues	23.00%	24.00%	34.00%
Sanofi S.A.
Concentration Risk [Line Items]
Percentage of revenues	3.00%	5.00%	22.00%
Pfizer Inc.
Concentration Risk [Line Items]
Percentage of revenues	0.00%	40.00%	40.00%

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES - Reconciliation of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 178,872	$ 131,329	$ 80,428
Non-current restricted cash	1,500	1,500	1,500
Cash, cash equivalents, and restricted cash as reported within the Consolidated Statements of Cash Flows	$ 180,372	$ 132,829	$ 81,928	$ 143,918

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIIES - Percentage of Accounts Receivable (Details) - Accounts Receivable - Accounts receivable from collaboration agreements, cost reimbursements concentration risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Biogen MA, Inc.
Concentration Risk [Line Items]
Percentage of accounts receivable	46.00%	52.00%
Novartis Institutes for BioMedical Research, Inc.
Concentration Risk [Line Items]
Percentage of accounts receivable	32.00%	21.00%
Sanofi S.A.
Concentration Risk [Line Items]
Percentage of accounts receivable	11.00%	19.00%

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 20, 2018
Debt Securities, Available-for-sale [Line Items]
Payments to acquire additional interest in subsidiaries	$ 119	$ 704	$ 262
Sangamo France \| Share Purchase Agreement and Tender Offer Agreement
Debt Securities, Available-for-sale [Line Items]
Number of free shares held by the holders (in shares)				477,000
Payments to acquire additional interest in subsidiaries		1,100
Business acquisition, number of free shares outstanding subject to purchase (in shares)	0
Estimated fair value of free shares asset		$ 100

FAIR VALUE MEASUREMENTS - Summary of Estimated Fair Value of Free Share Liability Assumptions (Detail)	Dec. 31, 2020 $ / shares	Dec. 31, 2020 € / shares	Oct. 01, 2018 $ / shares
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Sangamo Stock Price (USD) (in dollars per share)	$ 15.61
Exchange Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
EUR/ USD exchange rate	0.82	0.82
Stock price volatility estimate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility Estimate	0.889	0.889
Price volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility Estimate	0.063	0.063
Sangamo France
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Sangamo France Stock Price (EUR) (in Euro per share)			$ 2.99
Sangamo France \| Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Sangamo France Stock Price (EUR) (in Euro per share) \| € / shares		€ 3.85
Sangamo France \| Stock price correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Estimated correlation between Sangamo and Sangamo France stock prices	1.000	1.000
Sangamo France \| Stock price volatility estimate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Volatility Estimate	0.889	0.889

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of Cash Equivalents and Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents, at carrying value, total	$ 178,872	$ 131,329
Available-for-sale securities, amortized cost	286,138	560,575
Available-for-sale securities, gross unrealized gains	11	86
Available-for-sale securities, gross unrealized (Losses)	(304)	(37)
Available-for-sale securities, estimated fair value	285,845	560,624
Total cash equivalents and available-for-sale securities, amortized cost	406,057	613,740
Total cash equivalents and available-for-sale securities, gross unrealized gains	11	86
Total cash equivalents and available-for-sale securities, gross unrealized (losses)	(304)	(37)
Total cash equivalents and available-for-sale securities, estimated fair value	405,764	613,789
Money market funds
ASSETS
Cash and cash equivalents, at carrying value, total	119,919	53,165
Cash equivalents, gross unrealized gains	0	0
Cash and cash equivalents accumulated gross unrealized loss before tax	0	0
Cash equivalents, estimated fair value	119,919	53,165
Cash equivalents:
ASSETS
Cash and cash equivalents, at carrying value, total	119,919	53,165
Cash equivalents, gross unrealized gains	0	0
Cash and cash equivalents accumulated gross unrealized loss before tax	0	0
Cash equivalents, estimated fair value	119,919	53,165
U.S. government-sponsored entity debt securities
ASSETS
Available-for-sale securities, amortized cost	30,700	257,284
Available-for-sale securities, gross unrealized gains	1	19
Available-for-sale securities, gross unrealized (Losses)	(87)	(5)
Available-for-sale securities, estimated fair value	30,614	257,298
Commercial paper securities
ASSETS
Available-for-sale securities, amortized cost	105,792	213,500
Available-for-sale securities, gross unrealized gains	7	41
Available-for-sale securities, gross unrealized (Losses)	(42)	(8)
Available-for-sale securities, estimated fair value	105,757	213,533
Corporate debt securities
ASSETS
Available-for-sale securities, amortized cost	33,723	59,575
Available-for-sale securities, gross unrealized gains	1	16
Available-for-sale securities, gross unrealized (Losses)	(42)	(17)
Available-for-sale securities, estimated fair value	33,682	59,574
Certificates of deposit
ASSETS
Available-for-sale securities, amortized cost	45,116	12,311
Available-for-sale securities, gross unrealized gains	1	0
Available-for-sale securities, gross unrealized (Losses)	(26)	0
Available-for-sale securities, estimated fair value	45,091	12,311
Asset-backed securities
ASSETS
Available-for-sale securities, amortized cost	70,807	17,905
Available-for-sale securities, gross unrealized gains	1	10
Available-for-sale securities, gross unrealized (Losses)	(107)	(7)
Available-for-sale securities, estimated fair value	$ 70,701	$ 17,908

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of Available-for-Sale Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 197,676	$ 510,094
Maturing after one year through five years	88,169	50,530
Total	$ 285,845	$ 560,624

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Allowance for credit loss related to marketable securities	$ 0	$ 0
Other impairment charges related to marketable securities	$ 0	$ 0

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Revenues Recognized under Agreement (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue related to Sanofi agreement:
Total		$ 110,701	$ 118,192	$ 102,428
Novartis Institutes for BioMedical Research, Inc.
Revenue related to Sanofi agreement:
Total		37,944	5,252	0
Novartis Institutes for BioMedical Research, Inc. \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total		29,945	4,143	0
Novartis Institutes for BioMedical Research, Inc. \| Research services
Revenue related to Sanofi agreement:
Total		7,999	1,109	0
Biogen MA, Inc.
Revenue related to Sanofi agreement:
Total		42,300	27,901	0
Biogen MA, Inc. \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total		29,224	21,356	0
Biogen MA, Inc. \| Research services
Revenue related to Sanofi agreement:
Total		13,076	6,545	0
Kite Pharma, Inc.
Revenue related to Sanofi agreement:
Total		25,453	28,608	34,350
Kite Pharma, Inc. \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total		24,977	25,046	24,977
Kite Pharma, Inc. \| Research services
Revenue related to Sanofi agreement:
Total		476	3,562	9,373
Pfizer, Giroctocogene Fitelparvovec
Revenue related to Sanofi agreement:
Total		0	34,449	39,359
Pfizer, Giroctocogene Fitelparvovec \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total	$ 8,700	0	3,111	15,697
Pfizer, Giroctocogene Fitelparvovec \| Milestone achievement
Revenue related to Sanofi agreement:
Total		0	31,338	23,662
Pfizer C9ORF72
Revenue related to Sanofi agreement:
Total		0	12,985	1,827
Pfizer C9ORF72 \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total		0	7,985	1,827
Pfizer C9ORF72 \| Milestone achievement
Revenue related to Sanofi agreement:
Total		0	5,000	0
Sanofi S.A.
Revenue related to Sanofi agreement:
Total		3,114	5,322	22,680
Sanofi S.A. \| Recognition of license and stand-ready fee
Revenue related to Sanofi agreement:
Total		34	298	3,494
Sanofi S.A. \| Research services
Revenue related to Sanofi agreement:
Total		3,057	4,823	6,367
Sanofi S.A. \| Milestone achievement
Revenue related to Sanofi agreement:
Total		$ 23	$ 201	$ 12,819

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Novartis Institutes for BioMedical Research, Inc. (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jul. 27, 2020	Aug. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable			$ 6,013	$ 5,224
Novartis Institutes for BioMedical Research, Inc. \| Collaboration and license agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from collaborators		$ 75,000
Collaborative arrangement transaction price	$ 95,100
Collaborative arrangement, license fee	75,000
Collaborative arrangement estimated reimbursable service costs	20,100
Accounts receivable			1,900	1,100
Deferred revenue			40,900	70,900
Collaboration arrangement, commission fee, portion of gross proceeds, value				$ 1,500
Collaborative agreement, percent of initial recognition				2.00%
Amortization cost			$ 600	$ 100
Novartis Institutes for BioMedical Research, Inc. \| Collaboration and license agreement \| Maximum \| Achievement of specified preclinical development clinical development and first commercial sale milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	420,000
Novartis Institutes for BioMedical Research, Inc. \| Collaboration and license agreement \| Maximum \| Achievement of commercial milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	$ 300,000

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Biogen MA, Inc. (Details)	1 Months Ended			12 Months Ended
	May 31, 2020 USD ($)	Apr. 30, 2020 USD ($) product_target $ / shares	Apr. 30, 2020 USD ($) product_target $ / shares shares	Dec. 31, 2021 USD ($) product_target	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable				$ 6,013,000	$ 5,224,000
Net pension losses						$ 25,000
Biogen MA, Inc. \| Stock Purchase Agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares			24,420,157
Sale of stock, price per share (in dollars per share) \| $ / shares		$ 9.2137	$ 9.2137
Consideration received from sale of stock		$ 225,000,000	$ 225,000,000
Agreement restriction expiration period			3 years
Agreement restriction, ownership percentage (less than)		5.00%	5.00%
Agreement restriction, percentage of shares held		50.00%	50.00%
Agreement provision, expiration period			2 years
Agreement provision, ownership percentage (less than)		5.00%	5.00%
Collaborative arrangement transaction price			$ 204,600,000
Sale of stock, excess consideration received on transaction			79,600,000
Collaboration agreement, equity issued		$ 145,400,000	145,400,000	145,400,000
Accounts receivable				2,800,000	2,700,000
Deferred revenue				154,000,000	$ 183,200,000
Net pension losses				$ 2,900,000
Biogen MA, Inc. \| Collaboration and license agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from collaborators	$ 125,000,000		125,000,000
Maximum milestone payment receivable		$ 2,400,000,000	$ 2,400,000,000
Number of neurological disease gene targets \| product_target			12
Number of additional neurological disease gene targets \| product_target			8
Target selection period			5 years
Number of product targets selected \| product_target		3	3
Collaborative arrangement, maximum number of product targets to replace \| product_target				10
Collaboration arrangement, commission fee, portion of gross proceeds, value				$ 7,000,000
Collaborative agreement, percent of initial recognition				2.00%	2.00%
Contract with customer, asset, after allowance for credit Loss				$ 4,100,000
Amortization cost				$ 600,000	$ 400,000
Biogen MA, Inc. \| Collaboration and license agreement \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Collaboration arrangement, research period			7 years
Biogen MA, Inc. \| Collaboration and license agreement \| Pre-approval Milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Maximum milestone payment receivable		$ 925,000,000	$ 925,000,000
Biogen MA, Inc. \| Collaboration and license agreement \| Sales-based Milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Maximum milestone payment receivable		$ 1,500,000,000	$ 1,500,000,000

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Kite Pharma, Inc. (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Sep. 30, 2019 USD ($)	Apr. 30, 2018 USD ($) milestone	Dec. 31, 2021 USD ($) option	Dec. 31, 2020 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable			$ 6,013	$ 5,224
Kite Pharma, Inc. \| Collaboration and license agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone payments received		$ 150,000
Initial research term of agreement			6 years
Number of options to extend initial research term \| option			2
Extended research term of agreement			1 year
Separate fee for additional term			$ 10,000
Collaborative arrangement estimated reimbursable service costs for new research plan	$ 3,400
Collaborative arrangement transaction price	189,300
Revenues under agreement	150,000
Collaborative arrangement estimated reimbursable service costs	$ 39,300
Accounts receivable			100	400
Deferred revenue			$ 56,500	$ 81,400
Kite Pharma, Inc. \| Collaboration and license agreement \| Achievement of specified research, clinical development, regulatory and first commercial sale milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contingent development and sales-based milestone payments to be received		1,300,000
Kite Pharma, Inc. \| Collaboration and license agreement \| Achievement of specified sales-based milestones if annual worldwide net sales of licensed products reach specified levels
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contingent development and sales-based milestone payments to be received		$ 1,800,000
Contingent Development And Sales Based Milestone Payments, Maximum Amount Of Achieved Milestones To Be Eligible For Payment \| milestone		10
Kite Pharma, Inc. \| Collaboration and license agreement \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received		$ 3,000,000

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Pfizer Inc. (Details)	1 Months Ended				3 Months Ended		12 Months Ended			13 Months Ended	49 Months Ended	56 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 USD ($)	May 31, 2017 USD ($)	Dec. 31, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2021 USD ($) product royaltyFee	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) milestone	Dec. 31, 2021 USD ($) milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues							$ 110,701,000	$ 118,192,000	$ 102,428,000
Pfizer SB-525
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement							55,000,000
Collaborative arrangement transaction price							134,000,000
Research service fees							79,000,000
Revenues							$ 0
Pfizer SB-525 \| S B Five Two Five And Other Products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Collaborative arrangement, number of milestones achieved \| milestone												2
Milestone payments received												$ 55,000,000
Number of products approved \| product							0
Number of milestones included in transaction price \| royaltyFee							0
Pfizer, Giroctocogene Fitelparvovec
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement		$ 25,000,000
Revenues							$ 0	34,449,000	39,359,000
Collaborative arrangement, increase (decrease) in revenue								(2,400,000)
Collaborative arrangement, increase (decrease) in net income (loss)								$ 2,400,000
Collaborative arrangement, net income (loss) per share \| $ / shares								$ 0.02
Pfizer, Giroctocogene Fitelparvovec \| Phase Three Clinical Trial
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	$ 30,000,000
Cumulative compensation earned								$ 30,000,000		$ 30,000,000
Pfizer, Giroctocogene Fitelparvovec \| Amended collaboration and license agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Recognition of milestone								1,300,000		$ 25,000,000
Pfizer, Giroctocogene Fitelparvovec \| Recognition of license and stand-ready fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues					$ 8,700,000		0	3,111,000	15,697,000
Reduction in revenues						$ 3,000,000
Pfizer, Giroctocogene Fitelparvovec \| Milestone achievement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues							$ 0	31,338,000	23,662,000
Pfizer Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Agreement termination, term							15 years
Collaborative arrangement, increase (decrease) in revenue								(8,800,000)
Collaborative arrangement, increase (decrease) in net income (loss)								$ 8,800,000
Collaborative arrangement, net income (loss) per share \| $ / shares								$ (0.06)
Pfizer Inc. \| S B Five Two Five And Other Products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement				$ 70,000,000
Potential amount to be funded for achievement of specified commercialized and sales milestones				266,500,000
Milestone revenue receivable				300,000,000
Pfizer Inc. \| S B Five Two Five And Other Products \| Achievement of specified clinical development intellectual property and regulatory milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received				208,500,000
Pfizer Inc. \| S B Five Two Five And Other Products \| Achievement of first commercial sale milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received				475,000,000
Pfizer Inc. \| C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement			$ 5,000,000					$ 5,000,000
Development and sales-based milestone payments to be received	$ 5,000,000
Collaborative arrangement transaction price			17,000,000
Pfizer Inc. \| Other products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone revenue receivable				$ 175,000,000
Pfizer C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Agreement termination, term							15 years
Milestone payments received			12,000,000								$ 5,000,000
Number of products approved \| milestone											0
Number of milestones included in transaction price \| milestone											0
Revenues							$ 0	12,985,000	1,827,000
Pfizer C9ORF72 \| Recognition of license and stand-ready fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues							0	7,985,000	1,827,000
Pfizer C9ORF72 \| Milestone achievement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues							$ 0	$ 5,000,000	$ 0
Pfizer C9ORF72 \| C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement			12,000,000
Pfizer C9ORF72 \| C9ORF72 \| Achievement of specified preclinical development clinical development and first commercial sale milestones \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received			60,000,000
Pfizer C9ORF72 \| C9ORF72 \| Achievement of commercial milestones \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received			$ 90,000,000

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Sanofi S.A. (Details)	1 Months Ended	12 Months Ended			29 Months Ended
	Jan. 31, 2014 USD ($) program	Dec. 31, 2021 USD ($) milestone product $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Aug. 31, 2019 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable		$ 6,013,000	$ 5,224,000		$ 6,013,000
Revenues		110,701,000	118,192,000	$ 102,428,000
Net loss		$ (178,297,000)	$ (121,122,000)	$ (95,419,000)
Earnings per share, basic (in dollars per share) \| $ / shares		$ (1.23)	$ (0.90)	$ (0.85)
Sanofi S.A.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of research programs \| program	2
Revenues under agreement	$ 20,000,000
Number of products approved \| product		0
Revenues		$ 3,114,000	$ 5,322,000	$ 22,680,000
Collaborative arrangement, increase (decrease) in revenue			2,200,000
Collaborative arrangement, increase (decrease) in net income (loss)			$ 2,200,000
Collaborative arrangement, net income (loss) per share \| $ / shares			$ 0.02
Sanofi S.A. \| Collaboration and license agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement		$ 20,000,000
Number of milestones included in transaction price \| milestone		0
Collaborative arrangement transaction price		$ 96,300,000
Collaborative arrangement estimated reimbursable service costs	62,800,000
Accounts receivable		600,000	$ 1,000,000		600,000
Deferred revenue		1,100,000	1,200,000		1,100,000
Recognition of milestone		100,000
Sanofi S.A. \| Collaboration and license agreement \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	276,300,000
Sanofi S.A. \| Collaboration and license agreement \| Achievement of specified clinical development and regulatory milestones \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	115,800,000
Sanofi S.A. \| Collaboration and license agreement \| Achievement of specified sales milestones \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	$ 160,500,000
Sanofi S.A. \| Collaboration and license agreement \| Milestone One
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone payments received		6,000,000
Milestone revenue receivable						$ 6,000,000
Recognition of milestone					5,900,000
Sanofi S.A. \| Collaboration and license agreement \| Milestone Two
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone revenue receivable		7,500,000		7,500,000	7,500,000
Recognition of milestone		7,300,000
Sanofi S.A. \| Collaboration and license agreement \| Milestone Three
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone revenue receivable		13,500,000			$ 13,500,000
Recognition of milestone		100,000
Pfizer SB-525
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement		55,000,000
Collaborative arrangement transaction price		134,000,000
Revenues		0
Pfizer SB-525 \| Collaborative arrangement \| Change in collaboration agreement scope
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues		1,600,000	8,900,000	5,700,000
Net loss		$ 1,600,000	$ 8,900,000	$ 5,700,000
Earnings per share, basic (in dollars per share) \| $ / shares		$ 0.01	$ 0.06	$ 0.05

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - California Institute for Regenerative Medicine (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2021	May 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues			$ 110,701	$ 118,192	$ 102,428
Other non-current liabilities			1,217	7,011
California Institute for Regenerative Medicine ("CIRM")
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Funds due under the agreement		$ 8,000
Other non-current liabilities			$ 0	6,400
Accrued interest				1,200
California Institute for Regenerative Medicine ("CIRM") \| Research grants
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	$ 5,200			$ 5,200
Accrued interest	$ 1,200

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Agreement with Sigma-Aldrich Corporation (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2009	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2007
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Common stock issued		$ 27,099	$ 142,526	$ 136,308
Revenues		110,701	118,192	102,428
Sigma-Aldrich Corporation
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Developed laboratory research reagents, research services period					3 years
Deferred revenue	$ 20,000
Common stock issued	$ 4,900
Public offering, common stock shares issued	636,133
Reduced royalty rate	10.50%
Development and sales-based milestone payments to be received	$ 25,000
Revenues		$ 1,100	$ 500	$ 600
Sigma-Aldrich Corporation \| License agreement terms
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement	5,000
Sigma-Aldrich Corporation \| License fee revenues
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Deferred revenue	$ 15,100

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Agreement with DAS (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2005
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues		$ 110,701,000	$ 118,192,000	$ 102,428,000
Dow Agro Sciences \| License agreement terms
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research program to develop laboratory research reagents					3 years
One-time license fee earned on exercise of option					$ 6,000,000
Previously agreed research, development and commercialization milestone payments, and royalties on sales of products					4,000,000
Annual fees	$ 3,000,000
Fee due					$ 25,300,000
Minimum license annual fees specific reckoning period					11 years
Dow Agro Sciences \| License agreement terms \| Minimum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Annual fees					$ 300,000
Dow Agro Sciences \| License agreement terms \| Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Annual fees					3,000,000
Dow Agro Sciences \| License agreement terms \| Royalty revenues
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues					$ 2,300,000
Dow Agro Sciences \| License agreement terms \| License fee revenues
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues		$ 200,000	$ 3,000,000	$ 3,000,000

ACQUISITION OF SANGAMO FRANCE - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands		12 Months Ended
	Oct. 01, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 20, 2018
Business Acquisition [Line Items]
Goodwill impairments		$ 0	$ 0	$ 0
Sangamo France
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 45,900,000
Purchase price per share (in dollars per share)	$ 2.99
Sangamo France \| SPA and TOA
Business Acquisition [Line Items]
Percentage of equity interests agreed to acquire		100.00%			100.00%
Number of free shares held by the holders (in shares)						477
Estimated fair value of free shares liability	$ 200,000
Estimated fair value of free shares asset			$ 100,000

ACQUISITION OF SANGAMO FRANCE - Summary of Non-controlling Interest (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity Attributable to Noncontrolling Interest
Stockholders' equity attributable to noncontrolling interest, beginning balance	$ (868)
Fair value of additional shares acquired	(64)
Net loss attributable to non-controlling interest	(11)	$ (126)	$ (233)
Buy-out of non-controlling interest	943	0	$ 0
Stockholders' equity attributable to noncontrolling interest, ending balance	0	(868)
Non- Controlling Interest
Stockholders' Equity Attributable to Noncontrolling Interest
Stockholders' equity attributable to noncontrolling interest, beginning balance	(868)
Buy-out of non-controlling interest	943
Stockholders' equity attributable to noncontrolling interest, ending balance	$ 0	$ (868)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

+ Details

OTHER BALANCE SHEET DETAILS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 76,548	$ 58,740
Less: accumulated depreciation and amortization	(25,025)	(17,416)
Property and equipment, net	51,523	41,324
Depreciation and amortization	9,439	5,682	$ 3,930
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	31,988	24,737
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	21,970	15,953
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,080	4,870
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,781	1,089
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,729	$ 12,091

OTHER BALANCE SHEET DETAILS - Schedule of Intangible Assets and Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets (Excluding Goodwill)
Balance at beginning of year	$ 58,128	$ 53,156
Foreign currency translation adjustment	(4,368)	4,972
Balance at end of year	53,760	58,128
Goodwill
Balance at beginning of year	42,798	39,273
Foreign currency translation adjustment	(3,096)	3,525
Balance at end of year	$ 39,702	$ 42,798

OTHER BALANCE SHEET DETAILS - Summary of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Customer Refund Liability, Current	$ 0	$ 5,000
Accrued research and development expenses	4,878	4,257
Operating lease liabilities – current	4,026	3,690
Accrued professional fees	869	1,532
Other accrued liabilities	1,804	4,133
Total other accrued liabilities	$ 11,577	$ 18,612
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total other accrued liabilities	Total other accrued liabilities

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) ft²	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 31, 2021 ft²	Oct. 01, 2021 USD ($)	Feb. 01, 2021 USD ($)	Jan. 31, 2021 USD ($) ft²	Jan. 29, 2021 USD ($)	May 31, 2020 USD ($) ft²
Commitments And Contingencies [Line Items]
Lease agreement, extendable lease term				5 years
Operating lease, payments \| $	$ 6.9
Operating lease, expense \| $	$ 10.8	$ 10.4	$ 7.9
Operating lease, weighted average remaining lease term	8 years
Operating lease, weighted average discount rate, percent	5.60%
License obligations \| $	$ 0.8
Minimum
Commitments And Contingencies [Line Items]
Lease agreement, extendable lease term	5 years
Maximum
Commitments And Contingencies [Line Items]
Lease agreement, extendable lease term	10 years
Richmond, California
Commitments And Contingencies [Line Items]
Lease not yet commenced, area of real estate							5,000		8,500
Lessee operating lease, lease not yet commenced amount \| $					$ 9.1	$ 0.7	$ 0.9		$ 1.3
Reimbursement, tenant improvement allowance \| $					$ 2.6
Richmond, California \| November 1, 2021 through August 31, 2031
Commitments And Contingencies [Line Items]
Area of space leased (in sqft)				7,997
Valbonne, France
Commitments And Contingencies [Line Items]
Lease not yet commenced, area of real estate							5,800
Lessee, operating lease, amount \| $							$ 0.8	$ 0.6
Office And Laboratory \| Brisbane, California
Commitments And Contingencies [Line Items]
Area of space leased (in sqft)	87,700
Office And Laboratory \| Richmond, California \| Expires in August 2031
Commitments And Contingencies [Line Items]
Area of space leased (in sqft)	59,485
Office And Laboratory \| Richmond, California \| Expires in August 2026
Commitments And Contingencies [Line Items]
Area of space leased (in sqft)	7,700
Research and Office Space \| Valbonne, France \| Property Subject To Operating Lease One
Commitments And Contingencies [Line Items]
Area of space leased (in sqft)	25,600

COMMITMENTS AND CONTINGENCIES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 10,839	$ 10,400
Variable lease cost	2,831	2,300
Total	$ 13,670	$ 12,700

COMMITMENTS AND CONTINGENCIES - Summary of Future Minimum Payments under Contractual Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
2022	$ 6,605
2023	7,332
2024	7,486
2025	7,566
2026	7,543
Thereafter	23,310
Total lease payments	59,842
Imputed interest	(11,761)
Total	48,081
Short-term portion of lease liabilities (included in other accrued liabilities on the Consolidated Balance Sheet)	4,026	$ 3,690
Long-term portion of lease liabilities	$ 44,055	$ 38,396
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities

COMMITMENTS AND CONTINGENCIES - Non-cancelable Material Contractual Commitments (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
Contractual obligation	$ 10,994
Brammer Bio MA
Other Commitments [Line Items]
Contractual obligation	3,727
Lonza Netherlands, B.V.
Other Commitments [Line Items]
Contractual obligation	$ 7,267

STOCKHOLDERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended					12 Months Ended
	May 31, 2021 shares	Aug. 31, 2020 USD ($)	Apr. 30, 2020 USD ($) $ / shares	Apr. 30, 2020 USD ($) $ / shares	Apr. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) installment $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Jun. 30, 2021 shares	Jun. 29, 2020 shares	May 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred shares authorized (in shares)						5,000,000	5,000,000
Preferred stock issued (in shares)						0	0
Preferred stock outstanding (in shares)						0	0
Common stock, shares authorized (in shares)						320,000,000	320,000,000		320,000,000	160,000,000
Common stock, shares outstanding (in shares)						145,921,530	142,063,203
Issuance of common stock under public offering, net of issuance costs \| $						$ 27,099	$ 142,526	$ 136,308
Additional equity award (in shares)						3,619,775
Stock option maximum term						6 years 1 month 20 days
Specified stockholder ownership percentage						10.00%
Purchase price of common stock percent under stock incentive plans for specified stockholder						110.00%
Stock option maximum term for specified stockholder						5 years
Share of common stock subject to a stock option or stock appreciation right (in shares)						100.00%
Shares reserved for issuance of future awards (in shares)						4,782,452
Intrinsic value of options exercised \| $						$ 2,800	5,400	4,700
Options exercisable, aggregate intrinsic value \| $						$ 3,968
Restricted stock units awarded (in shares)						2,140,785
Total payments for the employees' tax obligations to taxing authorities \| $						$ 3,258	$ 765	$ 422
Share-Based Compensation Awards, Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted vesting percentage						33.33%
Share-Based Compensation Awards, Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted vesting percentage						33.33%
2018 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of fair value per share of common stock on option grant date						100.00%
Stock options vesting period						4 years
Stock options expiration term						10 years
Fixed ratio shares of common stock						1.33
Shares reserved for issuance of future awards (in shares)						7,799,855
2010 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of fair value per share of common stock on option grant date	85.00%
Stock reserved for issuance under plan (in shares)	5,000,000
Purchase plan offering period	2 years
Purchase plan purchase period	6 months
Restated 2018 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in capital shares reserved for future issuance (in shares)											9,900,000
Maximum \| 2018 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option maximum term						10 years
Employee Stock Options \| 2018 Stock Incentive Plan \| Share-Based Compensation Awards, Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted vesting percentage						25.00%
Employee Stock Options \| 2018 Stock Incentive Plan \| Share-Based Compensation Awards, Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted vesting percentage						2.08%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded (in shares)						2,140,785	2,517,101	834,745
Grant date fair value per award of restricted stock units (in dollars per share) \| $ / shares						$ 11.16	$ 8.06	$ 9.49
Share-based compensation arrangement by share-based payment award, number of vesting installment \| installment						3
Aggregate fair value of RSUs vested in period \| $						$ 9,000	$ 3,700	$ 2,000
Shares withheld from issuance in order to pay employee taxes (in shares)						293,120	90,617	39,160
Restricted Stock Units (RSUs) \| Share-Based Compensation Awards, Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted vesting percentage						33.33%
Jefferies LLC \| ATM Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, net of issuance costs (in shares)						2,007,932	0
Stock offering program, maximum value \| $		$ 150,000
Issuance of common stock under public offering, net of issuance costs \| $						$ 27,100
Stock Purchase Agreement \| Biogen MA, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, price per share (in dollars per share) \| $ / shares			$ 9.2137	$ 9.2137
Consideration received from sale of stock \| $			$ 225,000	$ 225,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, net of issuance costs (in shares)					12,700,000	2,007,932	24,420,157	12,650,000
Public offering price of common stock issued (in dollars per share) \| $ / shares					$ 11.50
Net proceeds from issuance of common stock, after deducting offering expenses \| $					$ 136,300
Issuance of common stock under public offering, net of issuance costs \| $						$ 20	$ 244	$ 127

STOCKHOLDERS' EQUITY - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares shares
Number of Shares
Options outstanding at beginning of period (in shares) \| shares	11,478,698
Options granted (in shares) \| shares	3,619,775
Options exercised (in shares) \| shares	(725,058)
Options canceled (in shares) \| shares	(2,410,138)
Options outstanding at end of period (in shares) \| shares	11,963,277
Options exercisable at end of period (in shares) \| shares	6,541,228
Weighted- Average Exercise per Share Price
Options outstanding at beginning of period (in dollars per share) \| $ / shares	$ 10.02
Options granted (in dollars per share) \| $ / shares	11.13
Options exercised (in dollars per share) \| $ / shares	7.79
Options canceled (in dollars per share) \| $ / shares	10.67
Options outstanding at end of period (in dollars per share) \| $ / shares	10.36
Options exercisable at end of period (in dollars per share) \| $ / shares	$ 10.51
Weighted-Average Remaining Contractual Term
Options outstanding at end of period (in years)	7 years 3 months 18 days
Options exercisable at end of period (in years)	6 years 1 month 20 days
Aggregate Intrinsic Value
Options outstanding at end of period \| $	$ 4,603
Options exercisable at end of period \| $	$ 3,968

STOCKHOLDERS' EQUITY - Summary of Restricted Stock Unit Activity (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) shares
Number of Shares
RSUs outstanding at beginning of period (in shares)	2,671,528
RSUs awarded (in shares)	2,140,785
RSUs released (in shares)	(985,350)
RSUs forfeited (in shares)	(687,369)
RSUs outstanding at end of period (in shares)	3,139,594
Weighted-Average Remaining Contractual Term
RSUs outstanding at end of period (in years)	1 year 7 days
Aggregate Intrinsic Value
RSUs outstanding at end of period \| $	$ 23,547

STOCK-BASED COMPENSATION - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 32,956	$ 25,708	$ 19,330
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	19,534	13,523	10,135
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 13,422	$ 12,185	$ 9,195

STOCK-BASED COMPENSATION - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost related to unvested stock options and RSU	$ 31,600,000
Weighted-average period of unvested stock options and RSU	2 years 7 months 2 days
Capitalized stock-based employee compensation expense	$ 0	$ 0	$ 0
Weighted-average estimated fair value per share of options granted (in dollars per share)	$ 7.34	$ 5.25	$ 6.37
Issuance of common stock under employee stock purchase plan (in shares)	433,107	274,382	249,364
Stock issued under employee stock purchase plans, average exercise price (in dollars per share)	$ 7.78	$ 7.34	$ 8.53
Weighted-average estimated fair value of shares purchased under ESPP plan (in dollars per share)	$ 4.48	$ 8.02	$ 4.70
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost related to unvested stock options and RSU	$ 21,800,000
Weighted-average period of unvested stock options and RSU	1 year 9 months 3 days

STOCK-BASED COMPENSATION - Assumptions Used for Estimating Fair Value of Employee Stock Options (Detail) - Employee Stock Options	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield of stock	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.95%	0.34%	1.68%
Expected term (in years)	5 years 5 months 15 days	5 years 6 months 3 days	5 years 6 months
Expected volatility	77.30%	77.61%	76.46%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.22%	0.61%	2.25%
Expected term (in years)	5 years 6 months 7 days	5 years 6 months 25 days	5 years 7 months 13 days
Expected volatility	79.77%	80.32%	78.39%

STOCK-BASED COMPENSATION - Weighted-Average Assumptions Used for Estimating Fair Value of ESPP Purchased Rights (Detail) - 2010 Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield of stock	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.01%	1.53%	1.53%
Expected term (in years)	3 days	6 months	6 months
Expected volatility	32.54%	51.02%	51.02%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.80%	2.80%	2.42%
Expected term (in years)	2 years	2 years	2 years
Expected volatility	97.88%	91.96%	91.96%

EMPLOYEE BENEFIT PLAN - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Maximum percentage limit of employee contributions	100.00%	50.00%	8.00%
Defined contribution plan, maximum employer's contribution per employee	$ 4,000	$ 4,000	$ 4,000
Aggregate employer's contributions to defined contribution plan	$ 1,500,000	$ 1,200,000	$ 900,000

INCOME TAXES - Summary of Domestic and Foreign Components of Loss Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ (185,216)	$ (126,624)	$ (77,354)
Foreign	7,225	5,847	(18,065)
Loss before income taxes	$ (177,991)	$ (120,777)	$ (95,419)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

INCOME TAXES - Summary of Benefit for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 0	$ 0	$ 0
State	0	133	0
Foreign	886	686	0
Subtotal	886	819	0
Deferred:
Federal	0	0	0
State	0	0	0
Foreign	(580)	(474)	0
Subtotal	(580)	(474)	0
Income tax expense	$ 306	$ 345	$ 0

INCOME TAXES - Schedule of Difference Between Benefit for Income Taxes and Federal Statutory Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax at federal statutory rate	$ (37,372)	$ (25,363)	$ (20,038)
State taxes, net	(6,734)	(3,168)	(9,597)
Foreign rate differential	362	376	(665)
Global Intangible Low-taxed Income	637	1,335	0
Non-deductible stock-based compensation	2,770	4,232	2,817
Research credits	(5,230)	(3,657)	(3,429)
Change in valuation allowance	45,373	26,537	29,655
Other	500	53	1,257
Income tax expense	$ 306	$ 345	$ 0

INCOME TAXES - Schedule of Company's Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 159,740	$ 164,276
Research and development tax credit carryforwards	35,260	27,679
Stock-based compensation	6,691	5,321
Deferred revenue	61,114	20,681
Fixed assets	10,130	10,525
Lease liability	11,279	10,251
Accruals and reserves	1,119	430
Other	106	308
Total deferred tax asset	285,439	239,471
Valuation allowance	259,820	214,351
Deferred tax assets	25,619	25,120
Liabilities:
Intangible assets	(13,856)	(14,321)
Operating lease right-of-use assets	(17,348)	(17,510)
Deferred tax liabilities	(31,204)	(31,831)
Total net deferred tax liabilities	$ (5,585)	$ (6,711)

INCOME TAXES - Deferred Tax Assets & Liabilities, Balance Sheet Location (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Deferred tax assets	$ 25,619	$ 25,120
Deferred tax liabilities	(6,645)	(7,185)
Total net deferred tax liabilities	(5,585)	(6,711)
Other noncurrent assets
Income Taxes [Line Items]
Deferred tax assets	$ 1,060	$ 474

INCOME TAXES - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Increase (decrease) in deferred tax assets valuation allowance	$ 45,500,000	$ 26,600,000	$ 29,600,000
Deferred tax assets, net operating loss carryforwards for federal	605,600,000
Deferred tax assets, net operating loss carryforwards for state	253,900,000
Federal research tax credit carryforwards	28,200,000
State research tax credit carryforwards	22,100,000
Accrued interest and/or penalties	100,000
Unrecognized tax benefits that would impact effective tax rate	1,200,000	$ 600,000	$ 0
French
Income Taxes [Line Items]
Deferred tax assets, net operating loss carryforwards for foreign	$ 144,100,000

INCOME TAXES - Summary of Activity Related to Company's Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 12,892	$ 11,630	$ 6,288
Additions based on tax positions related to the current year	2,454	2,834	5,393
Additions for tax positions of prior years	130	1,982	0
Reductions for tax positions of prior years	(414)	(3,554)	(51)
Ending balance	$ 15,062	$ 12,892	$ 11,630

RELATED PARTY TRANSACTION (Detail) - USD ($) $ in Thousands	12 Months Ended
RELATED PARTY TRANSACTION (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Payments to acquire additional interest in subsidiaries	$ 119	$ 704	$ 262
Sangamo France \| Share Purchase Agreement and Tender Offer Agreement
Related Party Transaction [Line Items]
Payments to acquire additional interest in subsidiaries		$ 1,100
Former Executive of TxCell \| Sangamo France \| Share Purchase Agreement and Tender Offer Agreement
Related Party Transaction [Line Items]
Number of ordinary shares acquired (in shares)	0	185,400
Payments to acquire additional interest in subsidiaries		$ 400

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]

- Definition

Indicates amendment to accounting standards.

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+ Details

FAIR VALUE MEASUREMENTS - Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Securities and Free Share Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 285,845	$ 560,624
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	119,919	53,165
U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	30,614	257,298
Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	105,757	213,533
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	33,682	59,574
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	45,091	12,311
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	70,701	17,908
Fair value on recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	119,919	53,165
Total marketable securities	285,845	560,624
Total cash equivalents and marketable securities	405,764	613,789
Fair value on recurring basis \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	119,919	53,165
Total marketable securities	0	0
Total cash equivalents and marketable securities	119,919	53,165
Fair value on recurring basis \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total marketable securities	285,845	560,624
Total cash equivalents and marketable securities	285,845	560,624
Fair value on recurring basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total marketable securities	0	0
Total cash equivalents and marketable securities	0	0
Fair value on recurring basis \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	119,919	53,165
Fair value on recurring basis \| Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	119,919	53,165
Fair value on recurring basis \| Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value on recurring basis \| Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value on recurring basis \| U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	30,614	257,298
Fair value on recurring basis \| U.S. government-sponsored entity debt securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| U.S. government-sponsored entity debt securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	30,614	257,298
Fair value on recurring basis \| U.S. government-sponsored entity debt securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	105,757	213,533
Fair value on recurring basis \| Commercial paper securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Commercial paper securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	105,757	213,533
Fair value on recurring basis \| Commercial paper securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	33,682	59,574
Fair value on recurring basis \| Corporate debt securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Corporate debt securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	33,682	59,574
Fair value on recurring basis \| Corporate debt securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	45,091	12,311
Fair value on recurring basis \| Certificates of deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	45,091	12,311
Fair value on recurring basis \| Certificates of deposit \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	70,701	17,908
Fair value on recurring basis \| Asset-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis \| Asset-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	70,701	17,908
Fair value on recurring basis \| Asset-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 0	0
Fair value on recurring basis \| Free shares asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		70
Fair value on recurring basis \| Free shares asset \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		0
Fair value on recurring basis \| Free shares asset \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		0
Fair value on recurring basis \| Free shares asset \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and marketable securities		$ 70