Sangamo Therapeutics (NASDAQ: SGMO) reported Q2 EPS of ($0.66), $0.31 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $6.84 million versus the consensus estimate of $13.26 million.

Updated Financial Guidance for 2023

GAAP operating expenses, including impairment of goodwill, indefinite-lived intangible assets, and long-lived assets, and stock-based compensation expense, are now estimated to be in the range of approximately $378 million to $398 million, reflecting the additional non-cash impairment charges. The previous GAAP operating expenses guidance provided on April 26, 2023 was in the range of approximately $315 million to $335 million.
We continue to estimate non-GAAP operating expenses to remain unchanged from the last update on April 26, 2023 and to be in the range of approximately $240 million to $260 million. Estimated non-GAAP operating expenses exclude estimated impairment of goodwill of $38.1 million, impairment of indefinite-lived intangible assets of $51.3 million, impairment of long-lived assets of $20.4 million and stock-based compensation expense of $28 million.

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