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Thursday, February 22, 2018

Sangamo Therapeutics (SGMO) reported earnings on Thur 22 Feb 2018 (b/o)


Sangamo Therapeutics beats by $0.03, beats on revs 
  • Reports Q4 (Dec) loss of $0.15 per share, $0.03 better than the Capital IQ Consensus of ($0.18); revenues rose 46.6% year/year to $13.08 mln vs the $11.1 mln Capital IQ Consensus.
  • As announced separately, the co established a global collaboration and license agreement with Kite, a Gilead company, to develop next-generation cell therapies for the treatment of cancer
  • As of December 31, 2017, the Company had cash, cash equivalents, marketable securities and interest receivable of $244.6 million.
  • Priorities and Expectations for 2018
    • Clinical -- Demonstrate clinical progress on core assets with initial clinical data readouts by mid-year 2018
    • Pipeline -- Initiate Phase 1/2 clinical trial for ST-400 beta-thalassemia program in early 2018; support Bioverativ in filing IND application for sickle cell disease; file IND application for ST-920 Fabry disease program
    • Technology -- Continue to set gene editing standards for precision, efficiency and specificity and operationalize platform improvements
    • Partnerships -- Collaborate with the right partners to develop best-in-class medicines for patients
    • Corporate -- Establish new headquarters and construct state-of-the-art cGMP manufacturing facility in Brisbane, CA

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