Sangamo posts Q3 net income $10.7M; FDA clears Accelerated Approval path for Fabry gene therapy ST-920

SANGAMO THERAPEUTICS, INC

2024-Q3 EPS reported -$0.37 revenue$50,249,000

Net income $10.7M ($0.04 diluted EPS) vs net loss $104.2M ($0.59 loss) in Q3 2023.
Revenue $49.4M (up from $9.4M), driven by $49.2M from Genentech collaboration.
FDA agrees Phase 1/2 STAAR data can support Accelerated Approval for ST-920 in Fabry disease; BLA submission expected H2 2025.
Received $50M from Genentech upfront/milestones; eligible for up to $1.9B in additional milestones plus tiered royalties.
Cash $39.2M; expects to fund operations into Q1 2025 including $10M milestone from Genentech.

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