Sangamo Therapeutics(SGMO) - 2025 Q4 - Annual Results

Regulatory Submissions and Approvals - Sangamo Therapeutics initiated a rolling submission of a Biologics License Agreement (BLA) to the FDA for ST-920, a gene therapy for Fabry disease, under the Accelerated Approval pathway[3]. - Sangamo's ST-503 received Fast Track Designation from the FDA for the treatment of intractable pain due to small fiber neuropathy[10]. - The company anticipates completing the rolling BLA submission for isaralgagene civaparvovec, with expectations for FDA approval[21]. - The company is advancing the Chemistry, Manufacturing and Controls (CMC) module for ST-920, with BLA submission completion expected by summer 2026, subject to funding[10]. Financial Performance - Total revenues for 2025 were $39.6 million, a decrease of $18.2 million compared to $57.8 million in 2024, primarily due to a reduction in revenue from the collaboration agreement with Genentech[8][9]. - The consolidated net loss for the fourth quarter of 2025 was $37.4 million, compared to a net loss of $23.4 million in the same period of 2024[5]. - Revenues for Q4 2025 were $14,228,000, a 88.5% increase from $7,551,000 in Q4 2024[26]. - The net loss for Q4 2025 was $37,419,000, compared to a net loss of $23,396,000 in Q4 2024, resulting in a basic and diluted net loss per share of $0.11[26]. - Sangamo's operating loss for the year ended December 31, 2025, was $121,239,000, an increase from $103,969,000 in 2024[26]. Operating Expenses - Total operating expenses on a GAAP basis for 2025 were $160.8 million, slightly down from $161.8 million in 2024[13]. - Total operating expenses for Q4 2025 were $52,431,000, up from $33,541,000 in Q4 2024, primarily driven by increased research and development costs[26]. - Research and development expenses for the year ended December 31, 2025, were $112,670,000, slightly up from $111,521,000 in 2024[26]. - The company expects total operating expenses in 2026 to be in the range of approximately $120 million to $140 million on a GAAP basis[17]. Cash and Assets - Cash and cash equivalents as of December 31, 2025, were $20.9 million, down from $41.9 million as of December 31, 2024[15]. - Cash and cash equivalents decreased to $20,948,000 as of December 31, 2025, down from $41,918,000 a year earlier[27]. - Total assets declined to $59,745,000 as of December 31, 2025, compared to $101,635,000 in 2024[27]. Future Plans and Funding - Sangamo raised over $130 million in funding since the start of 2025 through non-dilutive license fees, milestone payments, and equity financing[1]. - Sangamo plans to secure a commercialization partner for its Fabry disease program to enhance its therapeutic potential[21]. - Sangamo's financial guidance for 2026 is contingent upon securing adequate additional funding to support its operations[22].