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

ionally, Sigma-Aldrich licensed rights to certain ZFP-engineered transgenic animals for commercial applications. Sigma made initial payments of $20.0 million to Sangamo, consisting of an upfront license payment of $15.0 million and $5.0 million through the purchase of 636,133 shares of Sangamo common stock at the then current market price ($7.86 per share). Sangamo is eligible to earn additional contingent commercial license fees of up to $5.0 million based on certain conditions, and thereafter a royalty based upon a percentage of net sales and sublicensing revenue. Sangamo is also eligible to receive commercial milestone payments ranging from $2.0 million to $10.0 million, up to a total of $25.0 million, based upon cumulative product sales.

Financials and Operations

  • In October 2009, the Company completed an underwritten public offering of 3.0 million shares of common stock priced at $7.20 per share that resulted in net proceeds of $20.9 million.  
  • In January 2010, the Company expanded its senior clinical development team, appointing Shirley M. Clift to serve as Vice President of Regulatory Affairs and Winson W. Tang, M.D., as Vice President of Clinical Research.

2010 Objectives

In today's conference call members of Sangamo's management team will discuss the company's plans and objectives for 2010 that include:

Therapeutic Programs

  • Prosecution of Sangamo's ongoing Phase 2b Tri
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SOURCE Sangamo BioSciences, Inc.
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