Total operating expenses for the third quarter of 2008 were $10.1 million, compared to $7.6 million for the same period in 2007.
Net interest and other income was $42,000 for the third quarter of 2008, compared to $1.1 million for the same period in 2007. The decrease is due to lower average investment balances and lower interest rates as well as a foreign currency translation loss during the quarter.
Nine Month Results
For the nine months ended September 30, 2008, the consolidated net loss
was $21.7 million, or $0.53 per share, compared to a net loss of $14.8
million, or $0.41 per share, for the nine-month period ended September 30,
2007. Revenues were $9.4 million for the first nine months of 2008,
compared to $6.3 million in the same period in 2007. Total operating
expenses were $32.5 million for the first nine months of 2008 and $23.5
million for the same period of 2007. The increase in operating expenses for
2008 was primarily associated with Sangamo's clinical development programs
in diabetic neuropathy and pre-IND programs to develop ZFP Therapeutics for
the treatment of HIV/AIDS and glioblastoma, as well as increased research
and development personnel costs and lab supply expenses.
* Initiation of a Phase 2 clinical trial (SB-509-801) to evaluate SB-509
in subjects with Amyotrophic Lateral Sclerosis (ALS). ALS is a
progressive, degenerative motor-neuron disease for which there are
limited treatment options and no cure. The Phase 2 trial is a
randomized repeat-dosing, open-label, multi-cen
|SOURCE Sangamo BioSciences, Inc.|
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