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Sangamo BioSciences Reports Fourth Quarter and Full Year 2009 Financial Results
Date:2/3/2010

nue over the remaining period of the Company's original research collaboration with Sigma-Aldrich.

Research and development expenses were $8.7 million for the fourth quarter of 2009, compared to $6.7 million for the same period in 2008.  The increase in research and development expenses was primarily due to expenses related to the initiation of new clinical trials, including a Phase 2b clinical study of SB-509 in moderately severe diabetic neuropathy (DN) and Sangamo's ZFP Therapeutic for the treatment of recurrent glioblastoma, as well as the prosecution of clinical trials for Sangamo's ZFP Therapeutic for HIV/AIDS and increased personnel costs, including non-cash employee stock-based compensation.  

General and administrative expenses were $4.0 million for the fourth quarter of 2009, compared to $2.3 million for the same period in 2008. The increase in general and administrative expenses was primarily due to increased personnel costs, including non-cash employee stock-based compensation, and professional fees.

Total operating expenses for the fourth quarter of 2009 were $12.7 million, compared to $9.0 million for the same period in 2008.

Net interest income and other income / expense were recorded as income of $22,000 for the fourth quarter of 2009, compared to an expense of $375,000 for the same period in 2008.  The increase was due to a foreign currency translation loss during the prior year quarter.

Full Year Results

For the year ended December 31, 2009, the consolidated net loss was $18.6 million, or $0.44 per share, compared to a net los
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SOURCE Sangamo BioSciences, Inc.
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