sangamo biosciences inc (SGMO) Snapshot

Sangamo Biosciences Inc. announced that the California Institute for Regenerative Medicine (CIRM) has granted the company a $6.4 million strategic partnership award to develop a potentially curative ZFP Therapeutic for beta-thalassemia based on the application of its zinc finger nuclease (ZFN) gene-editing technology in hematopoietic stem cells (HSCs). The four year grant provides matching funds for preclinical work that will support an Investigational New Drug (IND) application and a Phase 1 clinical trial in transfusion-dependent beta-thalassemia patients. The grant application entitled "A Treatment for Beta-thalassemia via High Efficiency Targeted Genome Editing of Hematopoietic Stem Cells" won the highest scientific score and was the only application recommended for funding in this round of CIRM's strategic partnership awards. Sangamo's powerful and precise ZFN-genome editing technology enables modification of a patient's own stem cells and potentially provides a safer approach to current therapies for hemoglobinopathies such as beta-thalassemia and sickle cell disease.

Sangamo Biosciences Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss of $6.9 million, or $0.13 per share, compared to a net loss of $7.3 million, or $0.14 per share, for the same period in 2012. Revenues for the quarter were $4.6 million, compared to $3.2 million for the same period in 2012. Loss from operations was $6.9 million compared with $7.3 million a year ago. First quarter 2013 revenues were comprised of revenue from Sangamo's collaboration agreements with Shire, and Sigma-Aldrich as well as approximately $0.5 million of revenue from research grants. The increase in collaboration agreement Revenue was primarily due to agreement with Shire total operating expenses for the first quarter of 2013 were $11.5 million compared to $10.5 million for the same period in 2012. The company reiterated revenue guidance for the year 2013. The company expects that revenues will be in the range of $20 to $24 million in 2013, inclusive of research funding from Shire. The company expects 2013 operating expenses to be in the range of $46 million to $50 million. The company also expects that the spread of total revenue over the 4 quarters of 2013 will generally be in line with the pattern in 2012.

Sangamo Biosciences Inc. announced that they will report Q1, 2013 results After-Market on May 08, 2013