Cash runway, delisting risk pressure Sangamo Therapeutics (SGMO) after Q1
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Sangamo Therapeutics reported a first quarter 2026 net loss of $31.0 million, or $0.08 per share, compared with a net loss of $30.6 million, or $0.14 per share, a year earlier. Revenue fell to $1.4 million from $6.4 million, mainly due to lower collaboration and license revenue.
GAAP operating expenses declined to $33.4 million, with non-GAAP operating expenses at $31.7 million, as the company reduced personnel and facilities costs while increasing spending on BLA readiness for its Fabry disease program. Cash and cash equivalents were $27.6 million as of March 31, 2026, which Sangamo estimates will fund operations into the third quarter of 2026.
The company advanced a rolling BLA for Fabry candidate ST-920 under an FDA Accelerated Approval pathway and continued early-stage neurology programs in chronic neuropathic pain and prion disease. Sangamo’s stock was suspended from Nasdaq for not meeting the minimum bid price and began trading on the OTCQB Venture Market on May 5, 2026, while the company appeals Nasdaq’s delisting determination.
Positive
- None.
Negative
- Revenue contraction and persistent losses: Q1 2026 revenue declined to $1.4 million from $6.4 million a year earlier, while net loss remained large at $31.0 million, underscoring ongoing operating strain.
- Short cash runway and funding risk: Cash of $27.6 million is expected to fund operations only into the third quarter of 2026, and the company warns it needs substantial additional funding to avoid potentially ceasing operations or seeking bankruptcy protection.
- Listing downgrade: Nasdaq determined to delist the stock for minimum bid price non-compliance, leading to trading suspension and a move to the OTCQB Venture Market, which can reduce liquidity and institutional interest.
Insights
Falling revenue, tight cash runway, and listing downgrade heighten risk.
Sangamo Therapeutics posted Q1 2026 revenue of $1.4 million, down sharply from $6.4 million in 2025, and a net loss of $31.0 million. While GAAP operating expenses declined to $33.4 million, the business remains loss-making.
Cash and cash equivalents were only $27.6 million at quarter-end, and management expects this to fund operations only into the third quarter of 2026. The company also guides to 2026 GAAP operating expenses of $110–$130 million, contingent on securing additional funding.
Forward-looking statements highlight a need for substantial near-term financing, with explicit language that failure to secure a significant partnership or other transaction, particularly for the Fabry program, could lead to ceasing operations, asset liquidation or seeking bankruptcy protection. The recent suspension from Nasdaq and transition to OTCQB add further pressure on access to capital and investor confidence.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 revenue: $1.4 million
Q1 2026 net loss: $31.0 million
Q1 2026 EPS: $0.08 loss per share
+5 more
8 metrics
Q1 2026 revenue
$1.4 million
Three months ended March 31, 2026; down from $6.4 million in 2025
Q1 2026 net loss
$31.0 million
Three months ended March 31, 2026 vs. $30.6 million in 2025
Q1 2026 EPS
$0.08 loss per share
Basic and diluted net loss per share; $0.14 loss in 2025
GAAP operating expenses Q1 2026
$33.4 million
Total operating expenses for quarter ended March 31, 2026
Non-GAAP operating expenses Q1 2026
$31.7 million
Excludes depreciation, amortization and stock-based compensation
Cash and cash equivalents
$27.6 million
As of March 31, 2026; expected to fund operations into Q3 2026
2026 GAAP opex guidance
$110–$130 million
Projected total operating expenses for full year 2026
2026 non-GAAP opex guidance
$100–$120 million
Excludes ~$8M stock-based compensation and ~$2M depreciation/amortization
Key Terms
rolling BLA submission, Accelerated Approval, Premarket Approval (PMA, non-GAAP operating expenses, +2 more
6 terms
rolling BLA submission regulatory
"The rolling submission to the FDA of a BLA seeking approval of isaralgagene civaparvovec… remains in progress."
Accelerated Approval regulatory
"…for the treatment of Fabry disease under an Accelerated Approval pathway, remains in progress."
Accelerated approval is a process that allows new medical treatments to be approved more quickly than usual if they address serious or life-threatening conditions and show promising early results. For investors, it signals that a treatment may reach the market sooner, potentially boosting a company's prospects, but it also involves some uncertainty since full evidence of effectiveness is still being gathered.
Premarket Approval (PMA regulatory
"…companion diagnostic… has been submitted to, and accepted by, the FDA’s CDRH, seeking Premarket Approval (PMA)."
non-GAAP operating expenses financial
"Non-GAAP operating expenses… were $31.7 million, compared to $32.5 million for the same period in 2025."
Non-GAAP operating expenses are the costs a company reports that exclude certain items typically considered unusual or non-recurring, such as restructuring charges or asset write-downs. They are used to give investors a clearer view of the company's regular, ongoing expenses by filtering out one-time or non-core costs, helping them better assess the company's true operational performance.
Clinical Trial Application (CTA) regulatory
"Clinical Trial Application (CTA) enabling activities are in progress for ST-506…"
A clinical trial application (CTA) is the formal request a company files with health regulators asking permission to begin testing a new drug or medical device in people. It matters to investors because approval is a key development milestone—like getting a building permit to start construction—signaling reduced regulatory risk, unlocking the next phase of data generation and timelines for potential commercial value, while rejection or delay can push back prospects and increase costs.
GLP toxicology study technical
"The Good Laboratory Practice (GLP) toxicology study has been completed and analysis is ongoing."
A GLP toxicology study is a safety test run according to Good Laboratory Practice rules to see how a drug or chemical affects living organisms, usually animals, over time. Think of it as a detailed safety report card created under strict quality controls that regulators expect before humans can be tested; its results signal whether a program can move into clinical trials and help investors judge development risk, timelines, and potential regulatory hurdles.
Earnings Snapshot
Revenue: $1.4 million · Guidance included
Q1 2026
Revenue
$1.4 million
down from $6.4 million in Q1 2025
Net loss
$31.0 million
slightly higher than $30.6 million in Q1 2025
EPS (basic and diluted)
$0.08 loss
improved from $0.14 loss in Q1 2025
Guidance
For 2026, Sangamo expects GAAP operating expenses of $110–$130 million and non-GAAP operating expenses of $100–$120 million, assuming adequate additional funding.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 14, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer ID Number) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(510 ) 970-6000
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
(*) On April 28, 2026, Sangamo Therapeutics, Inc. (the “Company”) received a written notification from the Nasdaq Stock Market LLC (“Nasdaq”) of its determination to delist the Company’s common stock as a result of the Company’s ongoing failure to comply with Nasdaq’s minimum bid price requirement. The Company’s common stock was suspended from trading on Nasdaq, and began trading on the OTCQB Venture Market, on May 5, 2026. The Company has requested a hearing before a Nasdaq Hearings Panel for the purposes of appealing the delisting determination. The timely request for a hearing will stay delisting but did not stay the trading suspension of the Company’s common stock.
Item 2.02 Results of Operations and Financial Condition.
On May 14, 2026, Sangamo Therapeutics, Inc. (“Sangamo”) issued a press release announcing its financial results for the quarter ended March 31, 2026 (the “Press Release”).
A copy of the Press Release is furnished hereto as Exhibit 99.1 and is incorporated by reference herein. The information contained in this Item 2.02 and in the Press Release furnished as Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the Press Release furnished as Exhibit 99.1 to this Current Report on Form 8-K shall not be incorporated by reference into any filing with the Securities and Exchange Commission made by Sangamo whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||||||||
| 99.1 | Press Release regarding financial results dated May 14, 2026 | |||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SANGAMO THERAPEUTICS, INC. | ||||||||||||||||||||
| Dated: May 14, 2026 | By: | /s/ SCOTT B. WILLOUGHBY | ||||||||||||||||||
| Name: | Scott B. Willoughby | |||||||||||||||||||
| Title: | Chief Legal Officer and Corporate Secretary | |||||||||||||||||||
Exhibit 99.1
SANGAMO THERAPEUTICS REPORTS RECENT BUSINESS HIGHLIGHTS AND
FIRST QUARTER 2026 FINANCIAL RESULTS
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, California, May 14, 2026 - 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 $31.0 million, or $0.08 per share, compared to a consolidated net loss of $30.6 million, or $0.14 per share, for the same period in 2025.
Revenues
Revenues for the first quarter ended March 31, 2026 were $1.4 million, compared to $6.4 million for the same period in 2025.
The decrease of $5.0 million in revenues was primarily attributable to $5.0 million in revenue relating to our collaboration agreement with Pfizer Inc. upon transfer of a specified sublicense in 2025, and a decrease of $0.8 million in revenue relating to our license agreement with Sigma-Aldrich Corporation. These decreases were partially offset by $0.5 million in revenue relating to our license agreement with Miltenyi Biotec B.V. & Co. KG.
GAAP and Non-GAAP Operating Expenses
| (In millions) | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||
| 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 $33.4 million, compared to $36.1 million for the same period in 2025. Non-GAAP operating expenses, which exclude depreciation and amortization, and stock-based compensation expense, for the quarter ended March 31, 2026 were $31.7 million, compared to $32.5 million for the same period in 2025.
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 $27.6 million, compared to cash and cash equivalents of $20.9 million as of December 31, 2025. Based on our current operating plan, including the implementation of potential additional cost reduction measures, we estimate that our cash and cash equivalents as of March 31, 2026, will be sufficient to fund our planned operations into the third quarter of 2026.
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
-more-
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) | |||||||
###
FAQ
How did Sangamo Therapeutics (SGMO) perform financially in Q1 2026?
Sangamo reported a Q1 2026 net loss of $31.0 million, or $0.08 per share, compared with a net loss of $30.6 million, or $0.14 per share, in 2025. Revenue declined to $1.4 million from $6.4 million, reflecting lower collaboration and license income.
What is Sangamo Therapeutics’ cash position and runway after Q1 2026?
As of March 31, 2026, Sangamo held $27.6 million in cash and cash equivalents, up from $20.9 million at year-end 2025. Management estimates this balance will fund planned operations into the third quarter of 2026, assuming potential additional cost reductions are implemented.
What happened with Sangamo Therapeutics’ Nasdaq listing?
Nasdaq issued a delisting determination because Sangamo’s stock failed to meet the minimum bid price requirement. Trading on Nasdaq was suspended, and the shares began trading on the OTCQB Venture Market on May 5, 2026. Sangamo has requested a hearing to appeal the delisting.
What progress has Sangamo made with its Fabry disease program ST-920?
Sangamo is advancing a rolling BLA submission to the FDA for ST-920 under an Accelerated Approval pathway. Preclinical and clinical modules are submitted, and an antibody assay companion diagnostic has been accepted for Premarket Approval review. Completion of the BLA could occur as early as summer 2026, subject to funding.
What are Sangamo Therapeutics’ 2026 operating expense guidance ranges?
For 2026, Sangamo expects GAAP total operating expenses of approximately $110–$130 million. Non-GAAP operating expenses, excluding about $8 million of stock-based compensation and $2 million of depreciation and amortization, are projected at $100–$120 million, all subject to securing adequate additional funding.
Which neurology pipeline programs is Sangamo advancing in 2026?
Sangamo is advancing ST-503 for chronic neuropathic pain, with six sites activated in the Phase 1/2 STAND study, and ST-506 for prion disease, where CTA-enabling activities and GLP toxicology work are underway, supported by interactions with the U.K. MHRA on key development aspects.