In This Article:
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Upfront License Fee: Received $18 million from Eli Lilly for the first target under the STAC-BBB license agreement.
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Potential Milestone Payments: Eligible to earn up to $1.4 billion in additional license target fees and milestone payments from Eli Lilly.
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Operating Expenses Reduction: Reduced non-GAAP operating expenses by 50% year-on-year in 2024.
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Equity Financing: Announced an equity offering to extend cash runway to late in the third quarter of 2025.
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Fabry Program Milestone: All dose patients in the Phase I/II STAAR study completed at least 52 weeks of follow-up, a key milestone for FDA accelerated approval pathway.
Release Date: May 12, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Sangamo Therapeutics Inc (NASDAQ:SGMO) signed a third capsid license agreement with Eli Lilly, potentially earning up to $1.4 billion in milestone payments.
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The company is advancing its neurology pipeline, including preparations for a Phase I/II study of ST-503 for chronic neuropathic pain.
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Sangamo achieved significant clinical and regulatory milestones for its Fabry disease program, with a clear pathway to a BLA submission.
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The company has reduced non-GAAP operating expenses by 50% year-on-year, focusing on core priorities.
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Sangamo is actively engaging in promising business development discussions across its technology platforms, indicating ongoing interest in its innovations.
Negative Points
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Sangamo Therapeutics Inc (NASDAQ:SGMO) requires additional funding to continue operations and achieve its milestones.
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The company announced an equity offering to extend its cash runway, indicating immediate financial needs.
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There is uncertainty regarding the statistical analysis plan for the Fabry disease program, with limited details shared.
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Sangamo's financial strategy relies heavily on securing a commercial partnership for its Fabry program.
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The company faces challenges in maintaining collaborations and strategic partnerships, crucial for its financial stability.
Q & A Highlights
Q: Could you provide more color on what exactly you plan to show in the top line eGFR data? Will there be other quality of life endpoints? A: We will share the updated mean eGFR slope in the top line data and comment on additional information at a later date. We have 19 patients who will have achieved 2 years of data, providing a robust data set. We have agreed with the FDA on the statistical analysis plan.
Q: How many potential partners are you currently in conversations with for the Fabry program? A: We are in discussions with multiple potential partners. The recent Type B meeting with the FDA provided a clear path for the CMC, which is crucial for any gene therapy BLA and approval, making our discussions more straightforward.