Sangamo Therapeutics (SGMO) reported earnings on Wed 10 May 2017 (a/h)

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** the following day **

Sangamo Therapeutics beats by $0.02, misses on revs; announced strategic collaboration with Pfizer (PFE) for hemophilia a phase 1/2 gene therapy program :

• Reports Q1 (Mar) loss of $0.23 per share, $0.02 better than the Capital IQ Consensus of ($0.25); revenues fell 12.8% year/year to $3.4 mln vs the $4.14 mln Capital IQ Consensus.
• Phase 1/2 clinical trials of three lead programs are now open for enrollment In vivo genome editing treatment SB-318 for Mucopolysaccharidosis I In vivo genome editing treatment SB-913 for MPS II In vivo genome editing treatment SB-FIX for Hemophilia B Phase 1/2 clinical trial of fourth lead program, SB-525 cDNA gene therapy, for Hemophilia A to open for enrollment this quarter.
• Co announced an exclusive, global collaboration and license agreement for the development and commercialization of gene therapy programs for Hemophilia A, including SB-525, one of Sangamo's four lead product candidates, which Sangamo expects will enter the clinic this quarter.
• Under the terms of the collaboration agreement, Sangamo will receive a $70 million upfront payment from Pfizer (PFE).Sangamo will be responsible for conducting the SB-525 Phase 1/2 clinical study and certain manufacturing activities. Pfizer will be operationally and financially responsible for subsequent research, development, manufacturing and commercialization activities for SB-525 and additional products, if any.
• Sangamo is eligible to receive potential milestone payments of up to $475 million, including up to $300 million for the development and commercialization of SB-525 and up to $175 million for additional Hemophilia A gene therapy product candidates that may be developed under the collaboration.