Sangamo: 4Q Earnings Snapshot

Associated Press
Updated ·1 min read

BRISBANE, Calif. (AP) _ Sangamo Therapeutics Inc. (SGMO) on Wednesday reported a fourth-quarter loss of $40.6 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Brisbane, California-based company said it had a loss of 29 cents.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The drug developer posted revenue of $25.8 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $37.6 million.

For the year, the company reported that its loss widened to $121 million, or 90 cents per share. Revenue was reported as $118.2 million.

Sangamo shares have dropped 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.52, an increase of 77% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGMO at https://www.zacks.com/ap/SGMO