Sangamo Therapeutics Files Q3 2024 10-Q

TL;DR

**Sangamo Therapeutics Q3 2024 10-Q filed. Financials and operational details out.**

AI Summary

Sangamo Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Sangamo Biosciences Inc., is a biotechnology firm focused on biological products. Key financial data and reporting periods are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Sangamo Therapeutics, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — Biotechnology companies often face inherent risks related to research and development, regulatory approvals, and market competition.

Key Numbers

• 2024 Q3 — Reporting Period (Current quarter for the 10-Q filing.)
• 2024-09-30 — As of Date (The specific date for which financial information is reported.)
• 2023-12-31 — Previous Fiscal Year End (Indicates the end of the prior fiscal year for comparison.)

Key Players & Entities

• SANGAMO THERAPEUTICS, INC (company) — Filer
• SANGAMO BIOSCIENCES INC (company) — Former Company Name
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• 501 CANAL BLVD. (address) — Business Address
• RICHMOND (location) — Business Address City
• CA (location) — Business Address State
• 94084 (postal_code) — Business Address Zip
• 5109706000 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share SGMO Nasdaq Global Select Mar

Filing Documents

• sgmo-20240930.htm (10-Q) — 1158KB
• sgmo-20240930xex101.htm (EX-10.1) — 594KB
• thirdamendmenttoleaseagr.htm (EX-10.2) — 7KB
• sgmo-20240930xex311.htm (EX-31.1) — 10KB
• sgmo-20240930xex312.htm (EX-31.2) — 10KB
• sgmo-20240930xex321.htm (EX-32.1) — 7KB
• thirdamendmenttoleaseagr001.jpg (GRAPHIC) — 234KB
• thirdamendmenttoleaseagr002.jpg (GRAPHIC) — 157KB
• thirdamendmenttoleaseagr003.jpg (GRAPHIC) — 60KB
• 0001628280-24-047102.txt ( ) — 7271KB
• sgmo-20240930.xsd (EX-101.SCH) — 41KB
• sgmo-20240930_cal.xml (EX-101.CAL) — 61KB
• sgmo-20240930_def.xml (EX-101.DEF) — 204KB
• sgmo-20240930_lab.xml (EX-101.LAB) — 454KB
• sgmo-20240930_pre.xml (EX-101.PRE) — 333KB
• sgmo-20240930_htm.xml (XML) — 851KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 6 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Comprehensive Income ( L oss ) for the Three and Nine Months Ended Se ptember 30 , 2024 and 2023 8 Condensed Consolidated Statements of Stockholders' Equity for the Three and Ni ne Months Ended September 30, 2024 and 2023 9 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 11 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A .

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 47 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 Unless otherwise indicated or the context suggests otherwise, references in this Quarterly Report on Form 10-Q, or Quarterly Report, to "Sangamo," "the Company," "we," "us," and "our" refer to Sangamo Therapeutics, Inc. and our subsidiaries, including Sangamo Therapeutics France S.A.S. and Sangamo Therapeutics UK Ltd. Any third-party trade names, trademarks and service marks appearing in this Quarterly Report are the property of their respective holders. Solely for convenience, trademarks and trade names referred to in this Quarterly Report may appear without the or TM symbols, but such references are not intended to indicate in any way that the Company will not assert, to the fullest extent under applicable law, its rights or the rights of the applicable licensor to these trademarks and trade names. The Company does not intend its use or display of other entities' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of the Company by, any other entity. 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Some statements contained in this report are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements relate to our future events, including our anticipated operations, research, development, manufacturing and commercialization activities, clinical trials, operating results and financial condition. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements may include, but are not limited to, statements about: our estimates regarding the suf

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SANGAMO THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited; in thousands) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 39,201 $ 45,204 Marketable securities — 35,798 Accounts receivable 10,496 923 Prepaid expenses and other current assets 8,434 12,403 Total current assets 58,131 94,328 Property and equipment, net 19,146 26,874 Operating lease right-of-use assets 17,766 25,991 Refundable research income tax credits and other non-current assets 14,720 16,627 Restricted cash 1,500 1,500 Total assets $ 111,263 $ 165,320 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 19,791 $ 15,259 Accrued compensation and employee benefits 10,961 8,918 Other accrued liabilities 11,635 23,554 Deferred revenues 774 — Total current liabilities 43,161 47,731 Long-term portion of lease liabilities 27,727 33,515 Other non-current liabilities 1,241 1,187 Total liabilities 72,129 82,433 Commitments and contingencies Stockholders' equity: Preferred stock — — Common stock 2,086 1,781 Additional paid-in capital 1,522,192 1,492,077 Accumulated deficit ( 1,480,921 ) ( 1,406,376 ) Accumulated other comprehensive loss ( 4,223 ) ( 4,595 ) Total stockholders' equity 39,134 82,887 Total liabilities and stockholders' equity $ 111,263 $ 165,320 See accompanying Notes to Condensed Consolidated Financial Statements. 6 Table of Contents SANGAMO THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 49,412 $ 9,398 $ 50,249 $ 174,190 Operating expenses: Research and development 27,732 57,089 87,846 183,351 General and administrative 11,049 13,918 34,861 48,068 Impairment of long-lived assets — 44,799 5,521 65,232 Impairment of goodwill and indefinite-lived intangible assets —

View Full Filing

View this 10-Q filing on SEC EDGAR