Sangamo Therapeutics Reports Recent Business Highlights and First Quarter 2026 Financial Results
Rhea-AI Summary
Sangamo Therapeutics (OTCQB: SGMO) reported first quarter 2026 results and development updates. Consolidated net loss was $31.0 million ($0.08/share) versus $30.6 million ($0.14/share) a year ago, on revenue of $1.4 million versus $6.4 million.
The company is progressing a rolling BLA for ST-920 in Fabry disease, with preclinical/clinical modules submitted and its antibody assay companion diagnostic accepted for PMA review. Neurology programs advanced, including six activated sites in the Phase 1/2 STAND study of ST-503 and ongoing CTA-enabling work for ST-506 in prion disease. Cash and equivalents were $27.6 million, expected to fund operations into the third quarter of 2026. Sangamo’s shares began trading on the OTCQB Venture Market after a Nasdaq delisting determination, which the company plans to appeal.
AI-generated analysis. Not financial advice.
Positive
- Rolling BLA for Fabry candidate ST-920 advancing, preclinical and clinical modules submitted
- Companion diagnostic for ST-920 accepted by FDA CDRH for PMA review
- FDA indicated two-year eGFR data may support traditional approval for ST-920
- Six sites activated in Phase 1/2 STAND study of pain candidate ST-503
- GLP toxicology study for prion candidate ST-506 completed, analysis ongoing
- GAAP operating expenses decreased to $33.4 million from $36.1 million year over year
- Cash and cash equivalents increased to $27.6 million from $20.9 million at year-end 2025
Negative
- Company stock moved from Nasdaq to OTCQB following a delisting determination
- First quarter 2026 revenue declined to $1.4 million from $6.4 million year over year
- Net loss remained high at $31.0 million for the quarter
- Cash runway only expected to fund operations into the third quarter of 2026
- 2026 operating expense guidance of $110–$130 million depends on securing additional funding
News Market Reaction – SGMO
On the day this news was published, SGMO declined 0.37%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
SGMO gained
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 11 | Earnings call notice | Neutral | +12.7% | Announcement of date and time for Q1 2026 results and call. |
| Mar 30 | Q4/FY 2025 results | Negative | -19.7% | Reported 4Q and full‑year 2025 losses with limited cash runway. |
| Mar 19 | Earnings call notice | Neutral | -2.7% | Set timing and access details for Q4/FY 2025 earnings call. |
| Nov 06 | Q3 2025 results | Negative | -16.3% | Q3 loss, low revenues, and short cash runway despite positive ST‑920 data. |
| Oct 30 | Earnings call notice | Neutral | +4.5% | Announcement of Q3 2025 results release date and webcast details. |
Earnings-related results with full financials have often been followed by negative moves, while simple call-announcement notices see smaller, mixed reactions. Overall, price tends to move in the same direction implied by the tone of the earnings news.
Over the past few quarters, Sangamo’s earnings and business updates have combined advancing Fabry and neurology programs with ongoing losses and funding needs. The Q3 2025 and FY 2025 results featured continued net losses and shrinking revenues, and the Mar 30, 2026 report reiterated a cash runway only into Q3 2026. Today’s Q1 2026 update continues that pattern: a rolling BLA for ST‑920, neurology pipeline progress, but a $31.0M quarterly net loss and guidance dependent on additional funding.
Historical Comparison
Over the last five earnings-tagged events, SGMO’s average move was -4.28%. Today’s +4.4% pre-news gain is modestly better than typical earnings-day performance.
Earnings updates show a consistent story: rolling BLA progress for ST‑920, emerging neurology assets, and recurring net losses with cash runway only into upcoming quarters, keeping funding needs central to each results release.
Market Pulse Summary
This announcement combines continued clinical and regulatory progress with a challenged financial backdrop. Sangamo reported a Q1 2026 net loss of $31.0M, revenues of $1.4M, and cash of $27.6M, guiding 2026 GAAP operating expenses to $110M–$130M. Management again notes that completing the ST‑920 rolling BLA and advancing neurology programs depends on obtaining additional funding. Investors may watch cash updates, regulatory milestones for ST‑920, and timelines for ST‑503 and ST‑506 as key catalysts.
Key Terms
biologics license agreement regulatory
accelerated approval regulatory
premarket approval regulatory
clinical trial application regulatory
good laboratory practice technical
epigenetic regulator medical
adeno-associated virus medical
AI-generated analysis. Not financial advice.
Rolling submission of Biologics License Agreement (BLA) to U.S. Food and Drug Administration (FDA) seeking ST-920 approval is in progress.
Six sites activated in Phase 1/2 STAND study evaluating ST-503 in chronic neuropathic pain.
Held productive interaction with U.K. Medicines and Healthcare products Regulatory Agency (MHRA) to discuss prion disease study.
Participated in 29th American Society of Gene & Cell Therapy (ASGCT) Annual Meeting, showcasing progression of Sangamo’s neurology pipeline and advances in modular integrase technology.
RICHMOND, Calif., May 14, 2026 (GLOBE NEWSWIRE) -- Sangamo Therapeutics, Inc. (OTCQB Venture Market: SGMO), a genomic medicine company, today reported recent business highlights and first quarter 2026 financial results.
“During the first quarter, we advanced our rolling BLA submission for ST-920 and continued to progress our differentiated neurology pipeline,” said Sandy Macrae, Chief Executive Officer of Sangamo Therapeutics. “We remain focused on executing against our regulatory and clinical priorities while pursuing opportunities to secure additional funding and support the long-term potential of our pipeline.”
Recent Business Highlights
Corporate Updates
- Transitioned to trading on the OTCQB Venture Market, operated by OTC Markets Group, following the receipt of a delisting determination from The Nasdaq Capital Market due to non-compliance with Nasdaq’s minimum bid requirements. Sangamo intends to appeal the delisting determination at a hearing before Nasdaq, scheduled for June 9, 2026.
- Sangamo’s common stock began trading on the OTCQB Venture Market on May 5, 2026, under the same trading symbol, SGMO.
Fabry Disease
- The rolling submission to the FDA of a BLA seeking approval of isaralgagene civaparvovec, or ST-920, a wholly owned gene therapy product candidate for the treatment of Fabry disease under an Accelerated Approval pathway, remains in progress.
- The preclinical and clinical modules have been submitted to the FDA for review. In addition, the antibody assay companion diagnostic, which is designed to screen patients for eligibility with isaralgagene civaparvovec, has been submitted to, and accepted by, the FDA’s Center for Devices and Radiological Health (CDRH), seeking Premarket Approval (PMA).
- Isaralgagene civaparvovec has a clear pathway to accelerated approval from the FDA, using mean annualized estimated glomerular filtration rate (eGFR) slope at 52-weeks across all dosed patients in the study. The FDA has recently affirmed to us that two-year eGFR data may serve as confirmatory evidence for traditional approval.
- In February, presented detailed data from the registrational Phase 1/2 STAAR study via four platform and poster presentations at the 22nd Annual WORLDSymposiumTM in San Diego, California.
- Sangamo is advancing the Chemistry, Manufacturing and Controls (CMC) module, ahead of completion of the rolling BLA submission for isaralgagene civaparvovec, expected as early as the summer of 2026, subject to the ability to secure adequate additional funding, while continuing business development discussions for a potential Fabry commercialization agreement.
Core Neurology Pipeline
Chronic Neuropathic Pain – ST-503
- Six sites have been activated in the Phase 1/2 STAND study evaluating ST-503, an investigational epigenetic regulator for the treatment of intractable pain due to small fiber neuropathy (SFN), a type of chronic neuropathic pain.
- In March, a manuscript was published in Science Translational Medicine detailing the preclinical safety and pharmacology of ST-503 in human neurons, mice and nonhuman primates.
Prion Disease – ST-506
- Clinical Trial Application (CTA) enabling activities are in progress for ST-506, an investigational epigenetic regulator for the treatment of prion disease, leveraging STAC-BBB, Sangamo’s novel proprietary neurotropic adeno-associated virus (AAV) capsid.
- Held productive interaction with the MHRA, including alignment on diagnostic testing, analytical validation and nonclinical safety matters.
- The Good Laboratory Practice (GLP) toxicology study has been completed and analysis is ongoing.
29th ASGCT Annual Meeting
- Participated in the 29th ASGCT Annual Meeting, May 11-15, 2026, in Boston, MA, to present the progression of Sangamo’s neurology pipeline, including advances in zinc finger epigenetic regulation and developments in modular integrase technology. These presentations can be found on Sangamo’s website, in the Presentations section.
First Quarter 2026 Financial Results
Consolidated net loss for the first quarter ended March 31, 2026 was
Revenues
Revenues for the first quarter ended March 31, 2026 were
The decrease of
GAAP and Non-GAAP Operating Expenses
| Three Months Ended | |||||||
| March 31, | |||||||
| (In millions) | 2026 | 2025 | |||||
| Research and development | $ | 26.6 | $ | 26.0 | |||
| General and administrative | 6.8 | 10.1 | |||||
| Total operating expenses | 33.4 | 36.1 | |||||
| Depreciation and amortization | (0.7 | ) | (1.0 | ) | |||
| Stock-based compensation | (1.0 | ) | (2.6 | ) | |||
| Non-GAAP operating expenses | $ | 31.7 | $ | 32.5 | |||
Total operating expenses on a GAAP basis for the quarter ended March 31, 2026 were
The decrease in total operating expenses on a GAAP basis was primarily driven by lower compensation and other personnel costs, mainly due to changes in variable compensation and lower headcount, and lower facilities and infrastructure-related expenses. These decreases were partially offset by an increase in manufacturing expenses, primarily due to BLA readiness activities for our Fabry disease program.
Cash and Cash Equivalents
As of March 31, 2026, we had cash and cash equivalents of
Financial Guidance for 2026
- On a GAAP basis, we expect total operating expenses in the range of approximately
$110 million to$130 million in 2026, which includes estimated non-cash stock-based compensation expense, and depreciation and amortization. - We expect non-GAAP total operating expenses, excluding estimated non-cash stock-based compensation expense of approximately
$8 million , and estimated depreciation and amortization of approximately$2 million , in the range of approximately$100 million to$120 million in 2026. - This financial guidance is subject to our ability to secure adequate additional funding for our current operating plan.
Conference Call
The Sangamo management team will hold a corporate call to further discuss program and financial updates on Thursday, May 14, at 4:30pm Eastern Time.
Participants should register for, and access, the call using this link. While not required, it is recommended you join 10 minutes prior to the event start. Once registered, participants will be given the option to either dial into the call with the number and unique passcode provided or to use the dial-out option to connect their phone instantly.
An updated corporate presentation is available in the Investors and Media section under Presentations.
The link to access the live webcast can also be found on the Sangamo website in the Investors and Media section under Events. A replay will be available following the conference call, accessible at the same link.
About Sangamo Therapeutics
Sangamo Therapeutics is a genomic medicine company dedicated to translating ground-breaking science into medicines that transform the lives of patients and families afflicted with serious neurological diseases who do not have adequate or any treatment options. Sangamo believes that its zinc finger epigenetic regulators are ideally suited to potentially address devastating neurological disorders and that its capsid discovery platform can expand delivery beyond currently available intrathecal delivery capsids, including in the central nervous system. Sangamo’s pipeline also includes multiple partnered programs and programs with opportunities for partnership and investment. To learn more, visit www.sangamo.com and connect with us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements regarding our current expectations. These forward-looking statements include, without limitation, statements relating to: Sangamo’s cash runway and ability to continue to operate as a going concern and progress its programs; the therapeutic and commercial potential and value of Sangamo’s product candidates, including the durability of therapeutic effects; the therapeutic and commercial potential and value of technologies used by Sangamo in its product candidates; expectations concerning regulatory approval and commercialization of isaralgagene civaparvovec, including the potential for isaralgagene civaparvovec to qualify for the FDA’s Accelerated Approval program, the adequacy of data generated in the Phase 1/2 STAAR study to support FDA approval, and plans for completion of the rolling BLA submission for isaralgagene civaparvovec and the timing thereof; expectations concerning Sangamo’s transition to the OTCQB Venture Market; plans to appeal the Nasdaq delisting determination; Sangamo’s plans and ability to establish and maintain collaborations and strategic partnerships and realize the expected benefits of such arrangements, including its plans to secure a commercialization partner for its Fabry disease program; plans for conducting clinical trials and making regulatory submissions and the timing thereof; the advancement of Sangamo’s neurology programs; Sangamo’s estimates regarding the sufficiency of its cash resources and its expenses, capital requirements and need for substantial additional financing; Sangamo’s 2026 financial guidance; and other statements that are not historical fact. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to Sangamo’s lack of capital resources and need for substantial additional funding to execute its operating plan and to continue to operate as a going concern, including the risk that Sangamo will be unable to secure a significant partnership or other transaction, in particular for its Fabry disease program, providing for substantial upfront funding in the very near term necessary to fund its operations and operate as a going concern, in which case Sangamo at any time may elect or may be required to cease operations entirely, liquidate all or a portion of its assets and/or seek protection under the U.S. Bankruptcy Code in the very near term; the potential for collaborators and licensees to breach or terminate their agreements with Sangamo; the potential for Sangamo to fail to realize its expected benefits from its collaboration and license agreements; the uncertain and costly research and development process, including the risk that preclinical results may not be indicative of results in any future clinical trials; the effects of macroeconomic factors or financial challenges, including as a result of the ongoing overseas conflicts, tariffs, geopolitical instability, inflation and fluctuations in interest rates, on the global business environment, healthcare systems and business and operations of Sangamo and its collaborators, including the initiation and operation of clinical trials; the impacts of clinical trial delays, pauses and holds on clinical trial timelines and commercialization of product candidates; the uncertain timing and unpredictable nature of clinical trial results, including risk that the therapeutic effects observed in the latest clinical data from the Phase 1/2 STAAR study will not be durable in patients and that final clinical trial data from the study will not validate the safety and efficacy of isaralgagene civaparvovec, including that the 104-week data from such study will not verify the clinical benefit of isaralgagene civaparvovec or support FDA approval; the unpredictable regulatory approval process for product candidates across multiple regulatory authorities; reliance on results of early clinical trials, which results are not necessarily predictive of future clinical trial results, including the results of any registrational trial of Sangamo’s product candidates; the potential for technological developments that obviate technologies used by Sangamo; Sangamo’s reliance on collaborators and its potential inability to secure additional collaborations, the potential adverse impacts of the transition of Sangamo’s common stock to the OTCQB Venture Market; the risk that Sangamo will be unsuccessful in appealing Nasdaq’s delisting determination; and Sangamo’s ability to achieve expected future operating results.
All forward-looking statements about Sangamo’s future plans and expectations, including Sangamo’s financial guidance and development plans for its product candidates, are subject to Sangamo’s ability to secure adequate additional funding.
There can be no assurance that Sangamo and its collaborators will be able to develop commercially viable products or that Sangamo will earn any milestone or royalty payments under its collaboration agreements. Actual results may differ materially from those projected in these forward-looking statements due to the risks and uncertainties described above and other risks and uncertainties that exist in the operations and business environments of Sangamo and its collaborators. These risks and uncertainties are described more fully in Sangamo’s Securities and Exchange Commission, or SEC, filings and reports, including in Sangamo’s Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented by its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and subsequent filings and reports that Sangamo makes from time to time with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Sangamo undertakes no duty to update such information except as required under applicable law.
Non-GAAP Financial Measures
To supplement our financial results and guidance presented in accordance with GAAP, we present non-GAAP operating expenses, which excludes depreciation and amortization, stock-based compensation expense and impairment of long-lived assets from GAAP operating expenses. We believe that this non-GAAP financial measure, when considered together with our financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare our results from period to period and to our forward-looking guidance, and to identify operating trends in our business. We have excluded depreciation and amortization, and stock-based compensation expense because they are non-cash expenses that may vary significantly from period to period as a result of changes not directly or immediately related to the operational performance for the periods presented, and we have excluded impairment of long-lived assets to facilitate a more meaningful evaluation of our current operating performance and comparisons to our operating performance in other periods. This non-GAAP financial measure is in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP financial information, to more fully understand our business.
Contacts
Investor Relations and Media Inquiries
Louise Wilkie
ir@sangamo.com
media@sangamo.com
| SELECTED CONSOLIDATED FINANCIAL DATA | |||||||
| (Unaudited; in thousands, except per share amounts) | |||||||
| Statement of Operations Data: | |||||||
| Three Months Ended | |||||||
| March 31, | |||||||
| 2026 | 2025 | ||||||
| Revenues | $ | 1,442 | $ | 6,437 | |||
| Operating expenses: | |||||||
| Research and development | 26,570 | 26,006 | |||||
| General and administrative | 6,818 | 10,059 | |||||
| Total operating expenses | 33,388 | 36,065 | |||||
| Loss from operations | (31,946 | ) | (29,628 | ) | |||
| Interest income | 300 | 309 | |||||
| Other income (expense), net | 651 | (1,159 | ) | ||||
| Loss before income taxes | (30,995 | ) | (30,478 | ) | |||
| Income tax expense | - | 119 | |||||
| Net loss | $ | (30,995 | ) | $ | (30,597 | ) | |
| Basic and diluted net loss per share | $ | (0.08 | ) | $ | (0.14 | ) | |
| Shares used in computing basic and diluted net loss per share | 389,616 | 220,269 | |||||
| Selected Balance Sheet Data: | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| Cash and cash equivalents | $ | 27,586 | $ | 20,948 | |||
| Total assets | $ | 59,965 | $ | 59,745 | |||
| Total stockholders' deficit | $ | (18,955 | ) | $ | (14,268 | ) | |
