Sangamo reports Q3 net loss $104.2M, cuts 40% of workforce, focuses on neurology

SANGAMO THERAPEUTICS, INC

2023-Q3 EPS reported -$1.14 revenue$174,190,000

Net loss $104.2M ($0.59/share) vs $53.2M ($0.34) year ago; revenue $9.4M down from $26.5M.
Workforce reduction ~40% (~162 roles); Brisbane HQ to close early 2024; headquarters move to Richmond, CA.
COO Mark McClung and CSO Jason Fontenot leaving Jan 2, 2024; Amy Pooler and Gregory Davis appointed heads of Research and Technology.
Cash $132.1M at Sep 30, 2023; expects runway into Q3 2024; non-GAAP opex 2024 ~$115-135M (down ~50%).
Deferring new investments in Fabry and CAR-Treg programs; seeking partners/investors; Fabry Phase 1/2 data update expected early 2024.

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