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Sangamo BioSciences Reports Third Quarter 2009 Financial Results
Date:11/4/2009

al and administrative expenses were $2.7 million for the third quarter of 2009, compared to $2.6 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, which totaled $0.9 million in the third quarter of 2009 compared to $0.7 million in the same period in 2008.

Total operating expenses for the third quarter of 2009 were $8.9 million, compared to $10.1 million for the same period in 2008.

Net interest and other income (loss) were recorded as a net loss of $47,000 for the third quarter of 2009 compared to income of $42,000 for the same period in 2008.

Nine Month Results

For the nine months ended September 30, 2009, the consolidated net loss was $16.2 million, or $0.39 per share, compared to a consolidated net loss of $21.7 million, or $0.53 per share, for the nine-months ended September 30, 2008. Revenues were $11.9 million for the nine months ended September 30, 2009, compared to $9.4 million for the same period in 2008. Total operating expenses were $28.9 million for the nine months ended September 30, 2009, compared to $32.5 million for the same period in 2008. The decrease in operating expenses for 2009 was primarily associated with decreased manufacturing, preclinical, consulting and lab supply expenses.

Recent Highlights

  • Presentation of top-line statistically significant Phase 2 ZFP Therapeutic(TM) data at the Society for Neuroscience Meeting. Sangamo presented top-line, statistically significant Phase 2 clinical data from its zinc finger DNA-binding protein (ZFP) Therapeutic program to develop SB-509 for treatment of diabetic neuropathy (DN) at the Society for Neuroscience Annual Meeting held in Chicago. The data demonstrated a direct neuroregenerative effect of SB-509 treatment that resulted in a statistically significant (p v
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SOURCE Sangamo BioSciences, Inc.
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