Sangamo reports Q3 EPS (13c), consensus (16c)

Reports Q3 revenue $23.56M, consensus $26.95M. Sandy Macrae, CEO of Sangamo, said last night with the company’s earnings press release: “We’ve made strong progress across our clinical development programs and look forward to potential data readouts and updates from multiple clinical trials in coming months. We expect to complete the final steps of the acquisition of TxCell by year end, establishing our leadership in the promising field of CAR-Tregs for immunological and autoimmune diseases. Finally, we are continuing to strengthen the leadership team with the addition of Stephane Boissel as EVP of Corporate Strategy.” Sangamo expects to report a balance of cash, cash equivalents, marketable securities and interest receivable of at least $380M at December 31, 2018. This anticipated cash balance is inclusive of research funding from existing collaborators and recent financings and is expected to last approximately two years. Sangamo expects operating expense of $160M-$165M for the year ending December 31, 2018.
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