Sangamo Therapeutics Reports $18.3 Million Revenue for Q2 2025 Amid Significant Losses

Sangamo Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated revenues of $18.3 million for the quarter, a substantial increase from $356,000 in the same period last year. For the first half of 2025, revenues totaled $24.7 million, compared to $837,000 in the first half of 2024. This growth is primarily attributed to an $18 million upfront license payment from Eli Lilly and a $5 million payment from Pfizer related to a sublicense transfer. Despite this revenue increase, Sangamo continues to face substantial operating losses, reporting a net loss of $20 million for the quarter and $50.6 million for the first half of the year.

Operating expenses for the second quarter of 2025 were $36.2 million, a slight decrease from $37.4 million in the same quarter of 2024. Research and development expenses rose to $27.1 million, reflecting ongoing investments in clinical and manufacturing activities, particularly for the Fabry disease program. General and administrative expenses decreased by 25% to $9.1 million, largely due to cost-cutting measures implemented during recent restructuring efforts. The company has been actively reducing its workforce, with a significant reduction of approximately 40% in the U.S. workforce as part of its strategic transformation to focus on neurology.

Sangamo's total assets as of June 30, 2025, were reported at $97.6 million, down from $101.6 million at the end of 2024. The company had cash and cash equivalents of $38.3 million, which, along with additional funds raised through an at-the-market offering program, is expected to sustain operations only into the fourth quarter of 2025. The company has expressed substantial doubt about its ability to continue as a going concern, emphasizing the need for additional financing to support its operations and research initiatives.

Strategically, Sangamo has made significant moves to enhance its product pipeline, including collaborations with major pharmaceutical companies. The company is focused on advancing its neurology programs, particularly in developing epigenetic regulation therapies and engineered adeno-associated virus capsids. Sangamo has also initiated clinical trials for its investigational therapies, including ST-503 for chronic neuropathic pain and ST-506 for prion disease, with plans to submit a Biologics License Application for its Fabry disease treatment, isaralgagene civaparvovec, as early as the first quarter of 2026.

Looking ahead, Sangamo is actively seeking additional capital through various means, including public or private equity financing and strategic collaborations. The company acknowledges the challenges posed by current macroeconomic conditions and the competitive landscape in biotechnology, which may impact its ability to secure necessary funding. The outlook remains cautious, with the company emphasizing the importance of securing a commercialization partner for its Fabry disease program to enhance its financial stability and operational viability.