Sangamo Therapeutics (SGMO) Misses Q1 EPS by 16c, Revenues Miss

Sangamo Therapeutics (NASDAQ: SGMO) reported Q1 EPS of ($0.41), $0.16 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $8 million versus the consensus estimate of $22.82 million.

"With recent encouraging clinical data in hemophilia A gene therapy and ex vivo gene-edited cell therapy for beta thalassemia, we are moving closer to achieving our vision for Sangamo as an integrated genomic medicine company," said Sandy Macrae, CEO of Sangamo. "Our capabilities in gene therapy, ex vivo gene-edited cell therapy, in vivo genome editing and gene regulation enable us to address genetic diseases with appropriate technologies. We are investing in a diverse pipeline of products where we believe this suite of proprietary technologies is clinically relevant, where the underlying biology is well-characterized, and where there is a defined high unmet medical need."

Financial Guidance for 2019

• Operating Expense: Sangamo expects operating expense of $210 to $220 million for the year ending December 31, 2019.
• Cash and Investments: Sangamo projects that current cash, cash equivalents, and investments, including net proceeds from the April 2019 common stock offering, should provide funds for operations through year end 2021.

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

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