Sangamo Therapeutics (SGMO) Tops Q3 EPS by 10c, Revenues Beat

Sangamo Therapeutics (NASDAQ: SGMO) reported Q3 EPS of ($0.24), $0.10 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $21.96 million versus the consensus estimate of $12.16 million.

“We continue to prioritize and progress our clinical development programs, as demonstrated by the accepted ASH poster presentations for our two most advanced programs, SB-525 hemophilia A gene therapy and ST-400 beta thalassemia cell therapy. Patients are currently being screened for enrollment into the clinical study evaluating ST-920, our wholly owned Fabry disease gene therapy, and we expect to enroll a first patient by the end of the year. We have also recently submitted a CTA for the clinical trial of our CAR-Treg, TX200, in mismatched renal transplantation,” said Sandy Macrae, CEO of Sangamo. “As it is important that we continue to articulate our drug development, research, and partnership strategies, we will host a Sangamo R&D day in New York on December 17, 2019. At this meeting, we will provide updates across our various genomic medicine programs, offer our perspective on the clinical data at ASH, share improvements across our technology platforms, and provide an overview of the manufacturing strategy to support our clinical and commercial supply.”

Financial Guidance for 2019

• Operating Expense: Sangamo expects operating expense of $210.0 to $220.0 million for the year ending December 31, 2019.
• Cash and Investments: Sangamo projects that current cash, cash equivalents, and investments should provide funds for operations through year end 2021

For earnings history and earnings-related data on Sangamo Therapeutics (SGMO) click here.

You May Also Be Interested In

• Primoris cuts 2026 outlook on renewables cost overruns, COO exits
• Ennis (EBF) Reports In-Line Q1 EPS
• JPMorgan Starts ICICI Prudential Asset Management (ICICIAMC:IN) at Overweight