Sangamo Therapeutics (SGMO) Misses Q4 EPS by 8c, Revenues Miss

Sangamo Therapeutics (NASDAQ: SGMO) reported Q4 EPS of ($0.29), $0.08 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $25.8 million versus the consensus estimate of $32.15 million.

“We are very pleased with our execution and the progress we made in the challenging year of 2020 during the pandemic, where we advanced our hemophilia A product candidate into a Phase 3 clinical trial with Pfizer, dosed patients in our Phase 1/2 clinical study evaluating our wholly owned product candidate treating Fabry disease, entered into transformational neuroscience collaborations with Biogen and Novartis, brought in-house AAV manufacturing online in our Brisbane headquarters, and built a strong cash position,” said Sandy Macrae, Chief Executive Officer of Sangamo. “In 2021, we will continue to build on our momentum with a focus on clinical execution and bringing our in-house cell therapy manufacturing facilities online.”

Initial Financial Guidance for 2021

On a GAAP basis, we expect total operating expenses in the range of approximately $285 million to $305 million in 2021, which includes non-cash stock-based compensation expense.

We expect non-GAAP total operating expenses, excluding estimated non-cash stock-based compensation expense of approximately $30 million, in the range of approximately $255 million to $275 million.

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

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