Business
Sangamo Therapeutics Reports Business Highlights and Third Quarter 2020 Financial Results
Conference Call and Webcast Scheduled for 5:00 p.m. Eastern Time BRISBANE, Calif.--(BUSINESS WIRE)-- Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic
About this update from Sangamo Therapeutics, Inc.
[{"type":"text","content":"\nConference Call and Webcast Scheduled for 5:00 p.m. Eastern Time \n\n BRISBANE, Calif.--(BUSINESS WIRE)--\nSangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicine company, today reported third quarter 2020 financial results and recent business highlights.\n\n“We are pleased with the clinical execution momentum across our portfolio, including the first patient dosed in the registrational AFFINE study of our investigational hemophilia A gene therapy partnered with Pfizer, as well as dosing of the first two patients in the Phase 1/2 STAAR study evaluating our Fabry disease gene therapy,” said Sandy Macrae, CEO of Sangamo. “We also continue to advance our research projects, exemplified by the completion of our research activities in our ALS program partnered with Pfizer.”\n\nBusiness Updates \n\n\nEarned a $30 million milestone from Pfizer for the dosing of the first patient in the registrational Phase 3 AFFINE study of investigational hemophilia A gene therapy giroctocogene fitelparvovec (SB-525).\n\n\nPfizer provided updated data from the Phase 1/2 Alta study of giroctocogene fitelparvovec demonstrating tolerability, clinically meaningful factor levels with no bleeds and no prophylactic factor use through up to 85 weeks in the longest patient treated in the highest dose cohort.\n\n\nCompleted dosing of the first two patients in our Phase 1/2 STAAR study evaluating our investigational ST-920 gene therapy in Fabry disease.\n\n\nReceived additional regulatory approvals supporting the first-in-human Phase 1/2 STEADFAST study evaluating our CAR-Treg product candidate TX200 in kidney transplantation.\n\n\nCompleted our research activities in our collaboration with Pfizer to develop gene regulation therapies using zinc finger protein transcription factors for the treatment of C9ORF72-related Amyotrophic Lateral Sclerosis (ALS). Earned a $5 million milestone related to the program.\n\n\nAppointed Dr. Kenneth Hillan MB ChB, to our Board of Directors.\n\n\nThird Quarter 2020 Financial Results\n\nCash, cash equivalents and marketable securities were $694.6 million as of September 30, 2020, compared to $384.3 million as of December 31, 2019. The balance at the end of the third quarter includes the previously announced $75.0 million upfront license fee from Novartis. We expect to receive the $35 million in milestone payments from Pfize...