Sangamo Biosciences ( (SGMO) ) has released its Q4 earnings. Here is a breakdown of the information Sangamo Biosciences presented to its investors.
Sangamo Therapeutics, a genomic medicine company, focuses on developing treatments for serious neurological diseases using its zinc finger epigenetic regulators and capsid discovery platform. In its latest earnings report, Sangamo highlighted significant advancements in its neurology genomic medicine pipeline, including two major license agreements with Genentech and Astellas, and the clearance of an IND application for a new treatment targeting chronic neuropathic pain. The company also reported a substantial reduction in net loss for 2024, attributed to strategic realignment and cost reductions.
Sangamo’s financial performance in 2024 showed a decrease in revenues compared to the previous year, primarily due to terminated collaboration agreements. However, the company secured over $100 million in funding through new license agreements and milestone payments. Operating expenses were significantly reduced, reflecting a strategic focus on neurology and the restructuring of operations.
Key highlights include the FDA’s clearance for ST-503, a new treatment for chronic neuropathic pain, and promising data from the Phase 1/2 STAAR study for Fabry disease, which could lead to accelerated approval. Sangamo also demonstrated nonclinical proof of concept in prion disease, showcasing the potential of its zinc finger repressors.
Looking ahead, Sangamo plans to continue advancing its neurology-focused pipeline and prepare for a potential Biologics License Application submission for its Fabry disease program in the second half of 2025. The company remains engaged in business development negotiations to secure commercialization partnerships, aiming to capitalize on its innovative genomic medicine technologies.