Release Date: March 17, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Sangamo Therapeutics Inc (SGMO, Financial) has advanced its neurology therapies, securing its first neurology IND for idiopathic small fiber neuropathy.
- The company has established collaborations with Genentech and Astellas for neurotropic capsids, enhancing its industry partnerships.
- Sangamo has a clear regulatory pathway to accelerated approval for its Fabry disease gene therapy, potentially reducing approval time by three years.
- The company has significantly reduced its non-GAAP operating expenses by nearly half year over year.
- Sangamo raised over $100 million in funding through non-dilutive license fees, milestone payments, and equity financing in 2024.
Negative Points
- Sangamo Therapeutics Inc (SGMO) is still in the process of securing a commercial partner for its Fabry program, which is proving to be time-consuming.
- The company is facing financial challenges and emphasizes the need to secure additional capital to continue its operations.
- There is uncertainty regarding the completion of a third STAC-BBB license agreement, which is still in late-stage negotiations.
- The company has not yet finalized a partnership for its hemophilia program after Pfizer's termination notice.
- Sangamo's future plans and expectations are heavily dependent on securing adequate additional funding.
Q & A Highlights
Q: Are you still waiting on any data for the Fabry program, and do you expect partnership discussions to lead to results next quarter?
A: We are in late-phase discussions with several potential partners for the Fabry program. The data remains positive, and we expect to see the one-year data for the last patient soon, which will help drive the partnership forward. We are focused on closing the deal and finding the right partner. Regarding the hemophilia program, we have incoming interest and are working closely with Pfizer to explore transition possibilities. We will have access to all the data from Pfizer, which is crucial for potential partnerships.
Q: Have potential partners seen any updated data beyond the World Symposium data for the Fabry program?
A: Potential partners have not seen efficacy data beyond what was presented at the World Symposium. They have seen data related to manufacturing and the CMC process. We have data for up to 30 patients, with only two more patients to complete their journey before we have the complete data set for filing.
Q: Can you provide more details on the STAC-BBB deal and its potential upfront payment?
A: The STAC-BBB deal is expected to be finalized by the end of the quarter. The upfront payment is expected to be similar to previous deals. The partner is a logical blue-chip choice, and the capsid will advance both their neurology pipeline and ours.
Q: How are you managing operating expenses, and how might they change with a Fabry partnership?
A: We have proactively reduced our operating expenses by nearly half year over year and plan to maintain the same level of expenses as last year. Our focus is on advancing our neurology pipeline, specifically Nav1.7 and prion disease programs.
Q: Are there any concerns about hypotension with the Nav1.7 study, and what are the patient enrollment criteria?
A: We have not observed any hypotension in animal studies, including GLP studies with non-human primates. The relationship between Nav1.7 and hypotension is not well established. The patient enrollment criteria for the Nav1.7 study will be detailed in clinicaltrials.gov, targeting patients with idiopathic small fiber neuropathy (iSFN).
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
