Sangamo Therapeutics Inc (NASDAQ:SGMO) Posts Fourth Quarter 2017 Financial Report

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Sangamo Therapeutics Inc (NASDAQ:SGMO) posted its fourth quarter 2017 financial report and recent accomplishments. Revenue for Q4 2017 came at $13.1 million, as against $8.9 million for the comparable period in 2016. The jump in revenues was mainly related to their hemophilia A license and collaboration agreement with Pfizer Inc. (NYSE:PFE). Fourth quarter 2017 revenue came primarily from Sangamo’s collaboration deals with Pfizer, Dow AgroSciences and Bioverativ.

The buzz

Sandy Macrae, the CEO of Sangamo, expressed that with two collaboration updates since the start of the year, this year is off to a brisk start. This year they continue the vital work of building the foundation for company as a sustainable, fully integrated firm that develops, commercializes and manufacturers novel genomic treatments on their own and, where appropriate, in association with industry partners.

They now boast five active clinical plans, with additional preclinical assets developing toward IND. Perhaps most significantly, they project to start reporting data by mid-year from their most advanced clinical studies, SB-913 for MPS II and SB-525 for hemophilia A.

Sangamo reported that total operating expenses for Q4 2017 came at $26.8 million, as against $18.8 million for the comparable period in 2016. R&D expenses stood at $19.4 million for Q4 2017, versus $13.9 million for the comparable period in 2016. The jump was mainly due to manufacturing and clinical expenses in support of existing clinical trials and investment in committed manufacturing capacity. G&A expenses for Q4 2017 came at $7.5 million versus $4.9 million for Q4 2016. The increase was mainly due to salaries and associated costs and other professional fees in acceleration of overall firm growth.

For Q4 2017, consolidated net loss came at $13.1 million versus $9.6 million, for the comparable period in 2016. As of the close of December 31, 2017, Sangamo reported cash, cash equivalents, interest receivable and marketable securities of $244.6 million.

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