Sangamo sees Q1 revenue $158M, consensus $24.06M

Sees Q1 total operating expenses on a GAAP basis $120M-$140M vs. $73.5M for the same period in 2022. The estimated increase of $129.8M in revenues is primarily attributable to an increase of $121.1M in revenue relating to the collaboration agreement with Biogen, mainly due to the impact of termination related contract modification, and an increase of $6.0M in revenue relating to the collaboration agreement with Kite, mainly due to a reduction in the estimated project costs, which resulted in an adjustment to the measure of proportional cumulative performance. Cash, cash equivalents and marketable securities as of March 31 were $241.0M vs. $307.5M as of December 31, 2022. Sangamo believes its available cash, cash equivalents and marketable securities as of March 31, 2023, in combination with the other expected cost reductions, will be sufficient to fund its planned operations for at least the next 12 months.