Sangamo Therapeutics (SGMO) Misses Q1 EPS by 8c

Sangamo Therapeutics (NASDAQ: SGMO) reported Q1 EPS of ($0.37), $0.08 worse than the analyst estimate of ($0.29). Revenue for the quarter came in at $13.1 million versus the consensus estimate of $22.74 million.

“I’m proud of how the Sangamo team has worked together through the unusual circumstances presented by the COVID-19 pandemic,” said Sandy Macrae, CEO of Sangamo. “While adhering to governmental workplace guidelines, we have sought to minimize disruptions to the progress of our research in the labs, our clinical trials, and our business development discussions. Importantly, Pfizer continues to target dosing a first patient in the Phase 3 hemophilia A gene therapy study in the second half of 2020, and we are working together to identify an opportunity to present additional data from the Phase 1/2 Alta Study. Our AAV manufacturing facility in Brisbane is expected to be operational by year end, and our cell therapy manufacturing units in Brisbane and in France in 2021. With the $350 million received from the recently closed Biogen collaboration, in addition to the $363 million in cash resources reported as of March 31st, we are moving ahead with significant balance sheet strength, and we are beginning to plan for resuming normal operations as shelter-in-place orders are lifted.”

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

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