Sangamo Therapeutics (SGMO) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	000-30171
Entity Registrant Name	SANGAMO THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0359556
Entity Address, Address Line One	7000 Marina Blvd.
Entity Address, City or Town	Brisbane
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94005
City Area Code	510
Local Phone Number	970-6000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SGMO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		163,880,007
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001001233
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 94,570	$ 178,872
Marketable securities	218,998	197,676
Interest receivable	524	349
Accounts receivable	4,522	6,013
Prepaid expenses and other current assets	18,007	15,859
Total current assets	336,621	398,769
Marketable securities, non-current	36,700	88,169
Property and equipment, net	55,986	51,523
Intangible assets	46,439	53,760
Goodwill	34,511	39,702
Operating lease right-of-use assets	64,956	73,181
Other non-current assets	17,200	15,319
Restricted cash	1,500	1,500
Total assets	593,913	721,923
Current liabilities:
Accounts payable	17,380	9,759
Accrued compensation and employee benefits	19,045	20,840
Other accrued liabilities	14,046	11,577
Deferred revenues	71,890	85,711
Total current liabilities	122,361	127,887
Deferred revenues, non-current	115,641	166,776
Long-term portion of lease liabilities	39,705	44,055
Deferred income tax	5,740	6,645
Other non-current liabilities	1,312	1,217
Total liabilities	284,759	346,580
Commitments and contingencies
Stockholders’ equity:
Preferred stock	0	0
Common stock	1,619	1,459
Additional paid-in capital	1,423,105	1,334,138
Accumulated deficit	(1,096,572)	(956,267)
Accumulated other comprehensive loss	(18,998)	(3,987)
Total stockholders’ equity	309,154	375,343
Total liabilities and stockholders’ equity	$ 593,913	$ 721,923

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 26,460,000	$ 28,563,000	$ 84,069,000	$ 82,715,000
Operating expenses:
Research and development	65,116,000	62,498,000	183,719,000	179,018,000
General and administrative	16,238,000	14,501,000	46,239,000	47,135,000
Total operating expenses	81,354,000	76,999,000	229,958,000	226,153,000
Loss from operations	(54,894,000)	(48,436,000)	(145,889,000)	(143,438,000)
Interest and other income, net	1,769,000	834,000	5,754,000	3,010,000
Loss before income taxes	(53,125,000)	(47,602,000)	(140,135,000)	(140,428,000)
Income tax expense	30,000	86,000	170,000	373,000
Net loss	(53,155,000)	(47,688,000)	(140,305,000)	(140,801,000)
Net loss attributable to non-controlling interest	0	0	0	(11,000)
Net loss attributable to Sangamo Therapeutics, Inc. stockholders, basic	(53,155,000)	(47,688,000)	(140,305,000)	(140,790,000)
Net loss attributable to Sangamo Therapeutics, Inc. stockholders, diluted	$ (53,155,000)	$ (47,688,000)	$ (140,305,000)	$ (140,790,000)
Earnings per share, basic (in dollars per share)	$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Earnings per share, diluted (in dollars per share)	$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Shares used in computing basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in shares)	158,042	145,399	150,850	144,173
Shares used in computing diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders (in shares)	158,042	145,399	150,850	144,173

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (53,155)	$ (47,688)	$ (140,305)	$ (140,801)
Foreign currency translation adjustment	(6,028)	(2,565)	(14,040)	(6,006)
Net pension gains	55	0	130	0
Unrealized gain (loss) on marketable securities, net of tax	135	(45)	(1,101)	(36)
Comprehensive loss	(58,993)	(50,298)	(155,316)	(146,843)
Comprehensive loss attributable to non-controlling interest	0	0	0	(11)
Comprehensive loss attributable to Sangamo Therapeutics, Inc.	$ (58,993)	$ (50,298)	$ (155,316)	$ (146,832)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Non- Controlling Interest
Beginning balance (in shares) at Dec. 31, 2020		142,063,203
Beginning balance at Dec. 31, 2020	$ 497,366	$ 1,421	$ 1,269,375	$ (777,981)	$ 5,419	$ (868)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with at-the-market offering, net of offering expenses (in shares)		2,007,932
Issuance of common stock in connection with at-the-market offering, net of offering expenses	27,099	$ 20	27,079
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)		1,200,871
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	1,594	$ 12	1,582
Issuance of common stock under employee stock purchase plan (in shares)		244,570
Issuance of common stock under employee stock purchase plan	2,054	$ 2	2,052
Stock-based compensation	24,880		24,880
Acquisition of additional shares of Sangamo France	(134)		(70)			(64)
Foreign currency translation adjustment	(6,006)				(6,006)
Net pension gains	0
Unrealized gain (loss) on marketable securities, net of tax	(36)				(36)
Buy-out of non-controlling interest	(943)		(943)			943
Net loss	(140,801)			(140,790)		(11)
Ending balance (in shares) at Sep. 30, 2021		145,516,576
Ending balance at Sep. 30, 2021	406,016	$ 1,455	1,323,955	(918,771)	(623)	0
Beginning balance (in shares) at Jun. 30, 2021		145,106,901
Beginning balance at Jun. 30, 2021	445,457	$ 1,451	1,313,102	(871,083)	1,987	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with at-the-market offering, net of offering expenses (in shares)		202,705
Issuance of common stock in connection with at-the-market offering, net of offering expenses	2,367	$ 2	2,365
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)		206,970
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	617	$ 2	615
Stock-based compensation	7,873		7,873
Foreign currency translation adjustment	(2,565)				(2,565)
Net pension gains	0
Unrealized gain (loss) on marketable securities, net of tax	(45)				(45)
Net loss	(47,688)			(47,688)		0
Ending balance (in shares) at Sep. 30, 2021		145,516,576
Ending balance at Sep. 30, 2021	406,016	$ 1,455	1,323,955	(918,771)	(623)	$ 0
Beginning balance (in shares) at Dec. 31, 2021		145,921,530
Beginning balance at Dec. 31, 2021	375,343	$ 1,459	1,334,138	(956,267)	(3,987)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with at-the-market offering, net of offering expenses (in shares)		14,711,770
Issuance of common stock in connection with at-the-market offering, net of offering expenses	66,448	$ 147	66,301
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)		925,455
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	(1,838)	$ 9	(1,847)
Issuance of common stock under employee stock purchase plan (in shares)		359,468
Issuance of common stock under employee stock purchase plan	1,115	$ 4	1,111
Stock-based compensation	23,402		23,402
Foreign currency translation adjustment	(14,040)				(14,040)
Net pension gains	130				130
Unrealized gain (loss) on marketable securities, net of tax	(1,101)				(1,101)
Buy-out of non-controlling interest	0
Net loss	(140,305)			(140,305)
Ending balance (in shares) at Sep. 30, 2022		161,918,223
Ending balance at Sep. 30, 2022	309,154	$ 1,619	1,423,105	(1,096,572)	(18,998)
Beginning balance (in shares) at Jun. 30, 2022		153,352,502
Beginning balance at Jun. 30, 2022	318,281	$ 1,534	1,373,324	(1,043,417)	(13,160)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with at-the-market offering, net of offering expenses (in shares)		8,483,104
Issuance of common stock in connection with at-the-market offering, net of offering expenses	42,174	$ 85	42,089
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax (in shares)		82,617
Issuance of common stock upon exercise of stock options and in connection with restricted stock units, net of tax	(101)		(101)
Stock-based compensation	7,793		7,793
Foreign currency translation adjustment	(6,028)				(6,028)
Net pension gains	55				55
Unrealized gain (loss) on marketable securities, net of tax	135				135
Net loss	(53,155)			(53,155)
Ending balance (in shares) at Sep. 30, 2022		161,918,223
Ending balance at Sep. 30, 2022	$ 309,154	$ 1,619	$ 1,423,105	$ (1,096,572)	$ (18,998)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities:
Net loss	$ (140,305)	$ (140,801)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	8,765	6,675
Amortization of (discount) premium on marketable securities	(324)	2,394
Amortization and other changes in operating lease right-of-use assets	6,357	6,104
Gain on free shares	0	(18)
Stock-based compensation	23,402	24,880
Gain on disposal of property and equipment	0	(30)
Net changes in operating assets and liabilities:
Interest receivable	(175)	415
Accounts receivable	1,491	(2,743)
Prepaid expenses and other assets	(5,848)	(6,467)
Accounts payable and other accrued liabilities	9,443	(4,699)
Accrued compensation and employee benefits	(1,225)	(1,932)
Deferred revenues	(64,956)	(62,292)
Lease liabilities	(3,298)	(3,227)
Other non-current liabilities	95	1,204
Net cash used in operating activities	(166,578)	(180,537)
Investing Activities:
Purchases of marketable securities	(225,621)	(300,387)
Maturities of marketable securities	254,990	509,620
Sales of marketable securities	0	6,870
Purchases of property and equipment	(12,697)	(20,420)
Purchase of additional Sangamo France shares	0	(119)
Net cash provided by investing activities	16,672	195,564
Financing Activities:
Taxes paid related to net share settlement of equity awards	(1,962)	(2,988)
Proceeds from exercise of stock options	124	4,582
Net cash provided by financing activities	65,125	30,746
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	479	(148)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(84,302)	45,625
Cash, cash equivalents, and restricted cash, beginning of period	180,372	132,829
Cash, cash equivalents, and restricted cash, end of period	96,070	178,454
Supplemental cash flow disclosures:
Property and equipment included in unpaid liabilities	3,927	650
Right-of-use assets obtained in exchange for lease obligations	0	1,349
Tenant improvement allowance included in contra-lease liability	1,531	0
Buy-out of non-controlling interest	0	943
At the Market Offering
Financing Activities:
Proceeds from at-the market offering/ issuance of common stock	65,848	27,099
Employee Stock
Financing Activities:
Proceeds from at-the market offering/ issuance of common stock	$ 1,115	$ 2,053

ORGANIZATION, BASIS OF PRESENTA

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of Business Sangamo Therapeutics, Inc. (“Sangamo” or “the Company”) was incorporated in the State of Delaware in June 1995 and changed its name from Sangamo Biosciences, Inc. in January 2017. Sangamo is a clinical-stage genomic medicine company committed to translating ground-breaking science into medicines that transform the lives of patients with serious diseases. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of these financial statements for the periods presented have been included. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The Condensed Consolidated Balance Sheet data at December 31, 2021 was derived from the audited Consolidated Financial Statements included in Sangamo’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”) as filed with the SEC on February 24, 2022. The accompanying Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to non-controlling interests on its Condensed Consolidated Statements of Operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties. The accompanying Condensed Consolidated Financial Statements and related financial information should be read together with the audited Consolidated Financial Statements and footnotes for the year ended December 31, 2021, included in the 2021 Annual Report. Liquidity and Management’s Plan Sangamo is currently working on a number of long-term development projects that involve experimental technologies. The projects may require several years and substantial expenditures to complete and ultimately may be unsuccessful. The Company plans to finance operations with available cash resources, collaborations and strategic partnerships funds, research grants and from the issuance of equity or debt securities. Sangamo believes that its available cash, cash equivalents, and marketable securities as of September 30, 2022, and expected future milestones and research services revenue from collaborations, strategic partnerships and research grants, will be adequate to fund its currently planned operations through at least the next 12 months from the date these Condensed Consolidated Financial Statements are issued. Sangamo will require substantial additional financial resources to complete the development and commercialization of its product candidates. Additional capital may not be available on terms acceptable to the Company, if at all. If adequate funds are not available, or if the terms of potential funding sources are unfavorable, the Company’s business and ability to develop its technology and therapeutic products would be harmed. Furthermore, any sales of additional equity securities may result in dilution to the Company’s stockholders, and any debt financing may include covenants that restrict the Company’s business. Summary of Significant Accounting Policies Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. On an ongoing basis, management evaluates its estimates including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, income taxes, fair value of assets and liabilities, including from acquisitions, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. In September 2021, the Company recorded an adjustment to revenue related to a change in estimate in connection with the collaboration agreement with Sanofi S.A. (“Sanofi”) as a result of an increase in the project costs for its beta thalassemia program and the increase in project scope and the corresponding costs for its sickle cell disease program, both of which resulted in a decrease in the measure of proportional cumulative performance. This adjustment decreased revenue by $2.5 million, increased net loss by $2.5 million and increased the Company's basic and diluted net loss per share by $0.02 for the three and nine months ended September 30, 2021. Revenue Recognition The Company accounts for its revenues pursuant to the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). The Company’s contract revenues are derived from collaboration agreements including licensing arrangements and research activity grants. Research and licensing agreements typically include upfront signing or license fees, cost reimbursements for research services, minimum sublicense fees, milestone payments and royalties on future licensees’ product sales. The Company has agreements with both fixed and variable consideration. Non-refundable upfront fees and funding of research and development activities are considered fixed, while milestone payments are generally identified as variable consideration. Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenues under research grant agreements are generally recognized when the related qualified research expenses are incurred. Deferred revenue primarily represents the portion of research or license payments received but not earned. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company’s performance obligations include license rights, development services and services associated with regulatory submission and approval processes. Revenues from research services earned under collaboration agreements are generally recognized as revenue as the related services are provided. Revenues from non-refundable upfront fees are recognized over time either by measuring progress towards satisfaction of the relevant performance obligation, using the input method (i.e., cumulative actual costs incurred relative to total estimated costs) or on a straight-line basis when a performance obligation is expected to be satisfied evenly over a period of time (or when the entity has a stand-ready obligation). Significant management judgment is required to determine the level of effort required under an arrangement, and the period over which the Company expects to complete its performance obligations under the arrangement, which may include total internal personnel costs and external costs to be incurred as well as, in certain cases, the estimated stand-ready obligation period. Changes in these estimates can have a material effect on revenue recognized. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. The Company includes the unconstrained amount of estimated variable consideration in the transaction price. The amount included in the transaction price is constrained to the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. The estimated period of performance and project costs, such as personnel and manufacturing cost, are reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. Related costs and expenses under these arrangements have historically approximated the revenues recognized. Revenues from major collaboration agreements and research activity grants as a percentage of total revenues were as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Novartis Institutes for BioMedical Research, Inc. 36 % 40 % 35 % 35 % Biogen MA, Inc. 36 % 38 % 36 % 39 % Kite Pharma, Inc. 26 % 22 % 23 % 23 % Sanofi S.A. — % (3) % 4 % 2 % Funds received from the Company’s collaboration partners are generally not refundable and are recorded as revenue as the Company fulfills its performance obligations, which are satisfied over time (i.e., stand ready obligations) or by using the input method (i.e., cumulative actual costs incurred relative to total estimated costs). Revenue is also recognized when the Company has incurred qualified research and development costs that are reimbursable from its collaboration partners and when there is reasonable assurance that such costs will be reimbursed. Any payments received from a collaboration partner in advance of the completion of the relevant performance obligation are recorded as deferred revenue. Cash, Cash Equivalents, and Restricted Cash Sangamo considers all highly liquid investments purchased with original maturities of three months or less at the purchase date to be cash equivalents. Cash and cash equivalents consist of cash, deposits in demand money market accounts and U.S. government-sponsored entity debt securities. Restricted cash consists of a letter of credit for $1.5 million, representing a deposit for the lease of the corporate headquarters in Brisbane, California. A reconciliation of cash, cash equivalents, and restricted cash reported within the Condensed Consolidated Balance Sheets to the amounts reported within the accompanying Condensed Consolidated Statements of Cash Flows is as follows (in thousands): September 30, December 31, September 30, December 31, Cash and cash equivalents $ 94,570 $ 178,872 $ 176,954 $ 131,329 Non-current restricted cash 1,500 1,500 1,500 1,500 Cash, cash equivalents, and restricted cash as reported within the accompanying Condensed Consolidated Statements of Cash Flows $ 96,070 $ 180,372 $ 178,454 $ 132,829 Recently Adopted Accounting Pronouncements None.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, marketable securities, and the free shares asset. Fair value is determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurements and unobservable (i.e., supported by little or no market activity). The fair value measurements of the Company’s cash equivalents and marketable securities are identified at the following levels within the fair value hierarchy (in thousands): September 30, 2022 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 44,911 $ 44,911 $ — $ — Total 44,911 44,911 — — Marketable securities: U.S. government-sponsored entity debt securities 23,392 — 23,392 — Commercial paper securities 120,386 — 120,386 — Corporate debt securities 14,888 — 14,888 — Asset-backed securities 37,773 — 37,773 — U.S. treasury bills 16,922 — 16,922 — Certificates of deposit 42,337 — 42,337 — Total 255,698 — 255,698 — Total cash equivalents and marketable securities $ 300,609 $ 44,911 $ 255,698 $ — December 31, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 119,919 $ 119,919 $ — $ — Total 119,919 119,919 — — Marketable securities: U.S. government-sponsored entity debt securities 30,614 — 30,614 — Commercial paper securities 105,757 — 105,757 — Corporate debt securities 33,682 — 33,682 — Asset-backed securities 70,701 — 70,701 — Certificates of deposit 45,091 — 45,091 — Total 285,845 — 285,845 — Total cash equivalents and marketable securities $ 405,764 $ 119,919 $ 285,845 $ — Cash Equivalents and Marketable Securities The Company generally classifies its marketable securities as Level 2. Instruments are classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, matrix pricing and valuation models. These valuation models are proprietary to the pricing providers or brokers and incorporate a number of inputs, including in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day.

CASH EQUIVALENTS AND MARKETABLE

CASH EQUIVALENTS AND MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
CASH EQUIVALENTS AND MARKETABLE SECURITIES	CASH EQUIVALENTS AND MARKETABLE SECURITIES The table below summarizes the Company’s cash equivalents and marketable securities (in thousands): Amortized Gross Gross Estimated September 30, 2022 Assets Cash equivalents: Money market funds $ 44,911 $ — $ — $ 44,911 Total 44,911 — — 44,911 Marketable securities: U.S. government-sponsored entity debt securities 23,832 — (440) 23,392 Commercial paper securities 120,750 11 (375) 120,386 Corporate debt securities 15,050 — (162) 14,888 Asset-backed securities 38,039 2 (268) 37,773 U.S. treasury bills 16,943 — (21) 16,922 Certificate of deposits 42,478 5 (146) 42,337 Total 257,092 18 (1,412) 255,698 Total cash equivalents and marketable securities $ 302,003 $ 18 $ (1,412) $ 300,609 December 31, 2021 Assets Cash equivalents: Money market funds $ 119,919 $ — $ — $ 119,919 Total 119,919 — — 119,919 Marketable securities: U.S. government-sponsored entity debt securities 30,700 1 (87) 30,614 Commercial paper securities 105,792 7 (42) 105,757 Corporate debt securities 33,723 1 (42) 33,682 Asset-backed securities 70,807 1 (107) 70,701 Certificate of deposits 45,116 1 (26) 45,091 Total 286,138 11 (304) 285,845 Total cash equivalents and marketable securities $ 406,057 $ 11 $ (304) $ 405,764 The fair value of marketable securities by contractual maturity were as follows (in thousands): September 30, December 31, Maturing in one year or less $ 218,998 $ 197,676 Maturing after one year through five years 36,700 88,169 Total $ 255,698 $ 285,845 There were no realized gains and losses on the sales of investments during the three and nine months ended September 30, 2022. Realized gains and losses on the sales of investments were insignificant during the three and nine months ended September 30, 2021. The Company manages credit risk associated with its investment portfolio through its investment policy, which limits purchases to high-quality issuers and also limits the amount of its portfolio that can be invested in a single issuer. The Company did not record an allowance for credit losses or other impairment charges related to its marketable securities for the three and nine months ended September 30, 2022 and 2021. The Company had unrealized losses related to its marketable securities for the three and nine months ended September 30, 2022 and 2021. The Company had no material unrealized losses, individually and in the aggregate, for marketable

BASIC AND DILUTED NET LOSS PER

BASIC AND DILUTED NET LOSS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
BASIC AND DILUTED NET LOSS PER SHARE	BASIC AND DILUTED NET LOSS PER SHARE Basic net loss per share attributable to Sangamo Therapeutics, Inc. stockholders has been computed by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders is calculated by dividing net loss attributable to Sangamo Therapeutics, Inc. stockholders by the weighted-average number of shares of common stock outstanding during the period, without consideration of any potential dilutive securities, as their effect would be anti-dilutive. The total number of shares subject to stock options and restricted stock units (“RSUs”) outstanding and the employee stock purchase plan (“ESPP”) shares reserved for issuance, which are all anti-dilutive, were excluded from consideration in the calculation of diluted net loss per share attributable to Sangamo Therapeutics, Inc. stockholders. Stock options and RSUs outstanding and ESPP shares reserved for issuance as of September 30, 2022 and 2021 totaled 18,524,016 and 15,838,002, respectively.

MAJOR CUSTOMERS, PARTNERSHIPS A

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES	MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES Novartis Institutes for BioMedical Research, Inc. On July 27, 2020, the Company entered into a collaboration and license agreement with Novartis Institutes for BioMedical Research, Inc. (“Novartis”) for the research, development and commercialization of gene regulation therapies to treat three neurodevelopmental disorders. Under the agreement, which was effective upon execution, the Company granted Novartis an exclusive, royalty bearing and worldwide license, under its relevant patents and know-how, to develop, manufacture and commercialize certain of its zinc finger protein (“ZFP”) transcription factors (“ZFP-TFs”) targeted to three undisclosed genes that are associated with certain neurodevelopmental disorders, including autism spectrum disorder and intellectual disability. The Company is performing early research activities over the collaboration period for each gene target and manufacture the ZFP-TFs required for such research, costs of which are funded by Novartis. Novartis is responsible for additional research activities, studies enabling investigational new drug applications (“INDs”), clinical development, regulatory approvals, manufacturing of preclinical, clinical and approved products, and global commercialization. Subject to certain exceptions set forth in the agreement, the Company is prohibited from developing, manufacturing or commercializing any therapeutic product targeting any of the three genes that are the subject of the collaboration. Novartis also has the option to license certain of the Company’s proprietary adeno-associated viruses (“AAVs”) for the sole purpose of developing, manufacturing and commercializing licensed products arising from the collaboration. Under the agreement, Novartis paid the Company a $75.0 million upfront license fee in August 2020. In addition to this fee and the cost reimbursements for early research activities, the Company is eligible to earn from Novartis up to $420.0 million in development milestones and up to $300.0 million in commercial milestones. The Company is also eligible to earn from Novartis tiered high single-digit to sub-teen double-digit royalties on potential net commercial sales of licensed products arising from the collaboration. These royalty payments will be subject to reduction due to patent expiration, loss of market exclusivity and payments made under certain licenses for third-party intellectual property. The agreement will continue, on a product-by-product and country-by-country basis, until the expiration of the applicable royalty term. Novartis has the right to terminate the agreement, in its entirety or on a target-by-target basis, for any reason after a specified notice period. Each party also has the right to terminate the agreement on account of the other party’s bankruptcy or material, uncured breach. All payments received under the agreement, when earned, are non-refundable and non-creditable. The transaction price of $95.1 million includes the upfront license fee of $75.0 million and estimated research costs of $20.1 million to be provided over the estimated research period. All clinical or regulatory milestone amounts were considered fully constrained at inception of the agreement. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price, including the estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company assessed the agreement with Novartis in accordance with ASC Topic 606 and concluded that Novartis is a customer. The Company has identified a single performance obligation within this arrangement as a license to the technology and ongoing research services. The Company concluded that the license is not discrete as it does not have stand-alone value to Novartis apart from the research services to be performed pursuant to the agreement. As a result, the Company recognizes revenue from the upfront payment based on proportional performance of the ongoing research services through the estimated research period. The estimation of progress towards the satisfaction of performance obligation and project cost is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its performance obligation. As of September 30, 2022 and December 31, 2021, the Company had a receivable of $2.0 million and $1.9 million, respectively, and deferred revenue of $17.7 million and $40.9 million, respectively, related to this agreement. Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Novartis agreement: Recognition of upfront license fee $ 7,582 $ 9,093 $ 23,222 $ 22,852 Research services 2,028 2,421 6,211 6,104 Total $ 9,610 $ 11,514 $ 29,433 $ 28,956 The Company paid $1.5 million for financial advisory fees during the year ended December 31, 2020, equal to 2% of $75.0 million received for the upfront license fee related to the collaboration and license agreement with Novartis. The Company recognized $1.5 million as a contract asset as such amount represents a cost of obtaining the agreement. This balance is amortized and included in general and administrative expenses on a systematic basis consistent with the transfer of the services to Novartis in accordance with ASC Topic 340, Other Assets and Deferred Costs (“ASC Topic 340”). The Company amortized $0.2 million and $0.5 million during the three and nine months ended September 30, 2022, respectively, and $0.2 million and $0.5 million during the three and nine months ended September 30, 2021, respectively. Biogen MA, Inc. In February 2020, the Company entered into a collaboration and license agreement with Biogen MA, Inc. (“BIMA”) and Biogen International GmbH (together with BIMA, “Biogen”) for the research, development and commercialization of gene regulation therapies for the treatment of neurological diseases. The companies plan to leverage the Company’s proprietary ZFP technology delivered via AAV to modulate expression of key genes involved in neurological diseases. Concurrently with the execution of the collaboration agreement, the Company entered into a stock purchase agreement with BIMA, pursuant to which BIMA agreed to purchase 24,420,157 shares of the Company’s common stock (the “Biogen Shares”), at a price per share of $9.2137, for an aggregate purchase price of approximately $225.0 million. The collaboration agreement became effective in April 2020 following the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and satisfaction of other customary closing conditions, including the payment of $225.0 million for the purchase of the Biogen Shares. Under the collaboration agreement, Biogen paid the Company an upfront license fee of $125.0 million in May 2020. The Company is also eligible to receive research, development, regulatory and commercial milestone payments that could total up to approximately $2.4 billion if Biogen selects all of the targets allowed under the agreement and all the specified milestones set forth in the agreement are achieved, which includes up to $925.0 million in pre-approval milestone payments and up to $1.5 billion in first commercial sale and other sales-based milestone payments. In addition, the Company is eligible to receive tiered high single-digit to sub-teen royalties on potential net commercial sales of licensed products arising from the collaboration. These royalty payments are subject to reduction due to patent expiration, entry of biosimilar products to the market and payments made under certain licenses for third-party intellectual property. Under the collaboration agreement, the Company granted to Biogen an exclusive, royalty bearing and worldwide license, under its relevant patents and know-how, to develop, manufacture and commercialize certain ZFP and/or AAV-based products directed to certain neurological disease gene targets selected by Biogen. Biogen has already selected four of these: ST-501 to treat tauopathies, ST-502 to treat synucleinopathies including Parkinson’s disease, a third product candidate targeting DM1, a neuromuscular disease, and a fourth undisclosed neurological disease gene target. Biogen has exclusive rights to nominate up to seven additional targets over the remaining period of five years from the effective date of the collaboration agreement. For each gene target selected by Biogen, the Company performs early research activities, costs of which are shared by the companies, aimed at the development of the combination of proprietary central nervous system delivery vectors and ZFP-TFs (or potential other ZFP products) targeting therapeutically relevant genes. Biogen has assumed responsibility and costs for the IND-enabling studies, clinical development, related regulatory interactions, and global commercialization. The Company is responsible for manufacturing activities for the initial clinical trials for the first three products of the collaboration and plans to leverage its in-house manufacturing capacity, where appropriate, which is currently in development. Biogen is responsible for manufacturing activities beyond the first clinical trial for each of the first three products. The Company’s research activities for any targets will be performed over the period not to exceed seven years from the effective date of the agreement (i.e., through April 2027). Subject to certain exceptions set forth in the collaboration agreement, the Company is prohibited from developing, manufacturing or commercializing any therapeutic product directed to the targets selected by Biogen. The collaboration agreement continues on a product-by-product and country-by-country basis until the expiration of all applicable royalty terms. Biogen has the right to terminate the collaboration agreement, in its entirety or on a target-by-target basis, for any reason after a specified notice period, and also has the right to replace up to ten targets. Each party has the right to terminate this agreement on account of the other party’s bankruptcy or material, uncured breach. In addition, the Company may terminate the collaboration agreement if Biogen challenges any patents licensed by the Company to Biogen. Pursuant to the terms of the stock purchase agreement, Biogen has agreed not to, without the Company’s prior written consent and subject to specified conditions and exceptions, directly or indirectly acquire shares of the Company’s outstanding common stock, seek or propose a tender or exchange offer or merger between the parties, solicit proxies or consents with respect to any matter, or undertake other specified actions related to the potential acquisition of additional equity interests in the Company. Such standstill restrictions expire on the earlier of the three-year anniversary of the effectiveness of the collaboration agreement and the date that Biogen beneficially owns less than 5% of the Company’s common stock. The Company assessed the collaboration agreement with Biogen in accordance with ASC Topic 606 and concluded that Biogen is a customer. The transaction price of $204.6 million includes the upfront license fee of $125.0 million and the excess consideration from the stock purchase of $79.6 million, which represents the difference between the $225.0 million received for the purchase of the Biogen Shares and the $145.4 million estimated fair value of the equity issued. The equity issued to Biogen was valued using an option pricing model to reflect certain holding period restrictions. None of the target selection fees and clinical or regulatory milestones have been included in the transaction price, as all such amounts are fully constrained. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that nomination of additional targets and achievement of the milestones at this time is uncertain and contingent upon future periods when the uncertainty related to the variable consideration is resolved. The Company will re-evaluate the transaction price as uncertain events are resolved or other changes in circumstances occur. The Company has identified a single performance obligation within the Biogen collaboration agreement, which is a stand-ready obligation consisting of a series of distinct days of research services, during which Biogen obtains access to the Company’s license and research resources. Revenue from the upfront license fee relates to access to the license and Company’s obligation to stand-ready to perform such research services corresponding to the targets selected by Biogen. As a result of this obligation to perform research services when and if requested throughout the duration of the contract, the upfront license fee and the excess consideration from the stock purchase will be recognized over time on a straight-line basis consistent with the resources expected to be dedicated to providing the research services through April 2027, the estimated period of the obligation. The estimated period of performance is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverable. Revenue from the reimbursement by Biogen of shared costs of early research activities performed by Sangamo is recognized as the research services are performed. As of September 30, 2022 and December 31, 2021, the Company had a receivable of $1.7 million and $2.8 million, respectively, and deferred revenue of $132.1 million and $154.0 million, respectively, related to this agreement. Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Biogen agreement: Recognition of license and stand-ready fee $ 7,306 $ 7,306 $ 21,918 $ 21,918 Research services 2,107 3,661 8,740 10,266 Total $ 9,413 $ 10,967 $ 30,658 $ 32,184 The Company paid $7.0 million for financial advisory fees during the year ended December 31, 2020, equal to 2% of $225.0 million received for the sale of shares and 2% of $125.0 million received for the upfront fee. The fees incurred related to both the collaboration agreement with Biogen and the stock purchase agreement for the sale of shares. The Company believes that the allocation of fees on a relative fair value basis between the two agreements is reasonable. The Company recognized $4.1 million, which represents 2% of the transaction price of $204.6 million, as a contract asset. This balance is amortized and included in general and administrative expenses on a systematic basis consistent with the transfer of the services to Biogen in accordance with ASC Topic 340. The Company amortized $0.1 million and $0.4 million during the three and nine months ended September 30, 2022, respectively, and $0.1 million and $0.4 million during the three and nine months ended September 30, 2021, respectively. The Company recognized $2.9 million, which represented 2% of the $145.4 million estimated fair value of the equity issued, as a share issuance cost and recorded this amount in equity as a reduction in net proceeds during the year ended December 31, 2020. Kite Pharma, Inc. In February 2018, the Company entered into a global collaboration and license agreement with Kite Pharma, Inc. (“Kite”), a Gilead Sciences, Inc. subsidiary, which became effective on April 5, 2018 (“Effective Date”), and was amended and restated in September 2019, for the research, development, and commercialization of potential engineered cell therapies for cancer. In this collaboration, Sangamo is working together with Kite on a research program under which the companies are designing zinc finger nucleases (“ZFNs”) and viral vectors to disrupt and insert certain genes in T-cells and natural killer cells (“NK-cells”) including the insertion of genes that encode chimeric antigen receptors (“CARs”), T-cell receptors (“TCRs”), and NK-cell receptors (“NKRs”) directed to mutually agreed targets. Kite is responsible for all clinical development, manufacturing and commercialization of any resulting products. Subject to the terms of this agreement, the Company granted Kite an exclusive, royalty-bearing, worldwide sublicensable license under the Company’s relevant patents and know-how to develop, manufacture and commercialize, for the purpose of treating cancer, specific cell therapy products that may result from the research program and that are engineered ex vivo using selected ZFNs and viral vectors developed under the research program to express CARs, TCRs or NKRs directed to candidate targets. During the research program term and subject to certain exceptions, the Company is prohibited from researching, developing, manufacturing and commercializing, for the purpose of treating cancer, any cell therapy product that, as a result of ex vivo genome editing, expresses a CAR, TCR or NKR that is directed to a target expressed on or in a human cancer cell. After the research program term concludes and subject to certain exceptions, the Company will be prohibited from developing, manufacturing and commercializing, for the purpose of treating cancer, any cell therapy product that, as a result of ex vivo genome editing, expresses a CAR, TCR or NKR that is directed to a candidate target. Following the Effective Date, the Company received a $150.0 million upfront payment from Kite. In addition, Kite reimburses the Company’s direct costs to conduct the joint research program. Sangamo is also eligible to receive contingent development- and sales-based milestone payments that could total up to $3.0 billion if all of the specified milestones set forth in this agreement are achieved. Of this amount, approximately $1.3 billion relates to the achievement of specified research, clinical development, regulatory and first commercial sale milestones, and approximately $1.8 billion relates to the achievement of specified sales-based milestones if annual worldwide net sales of licensed products reach specified levels. Each development- and sales-based milestone payment is payable (i) only once for each licensed product, regardless of the number of times that the associated milestone event is achieved by such licensed product, and (ii) only for the first 10 times that the associated milestone event is achieved regardless of the number of licensed products that may achieve such milestone event. In addition, the Company is entitled to receive escalating, tiered royalty payments with a percentage in the single digits based on future annual worldwide net sales of licensed products. These royalty payments are subject to reduction due to patent expiration, entry of biosimilar products to the market and payments made under certain licenses for third-party intellectual property. The initial research term in the agreement is six years from the Effective Date. Kite has an option to extend the research term for up to two additional one-year periods for a separate upfront fee of $10.0 million per year. All contingent payments under the agreement, when earned, will be non-refundable and non-creditable. In connection with the amendment and restatement of the agreement in September 2019, the Company entered into a new research plan with Kite, with estimated reimbursable service cost of approximately $3.4 million, which is included in the total transaction price. The Company concluded the total transaction price under this agreement is $189.3 million and includes the upfront license fee of $150.0 million and $39.3 million estimated reimbursable service costs for identified research projects over the estimated performance period. Further, the Company concluded the estimated fees for the presumed exercise of the research term extension options and all milestone amounts are fully constrained. As part of its evaluation of the constraint, the Company considered numerous factors, including the fact that achievement of the milestones at this time is uncertain and contingent upon future events which are uncertain at this time. The Company will re-evaluate the transaction price including the estimated variable consideration included in the transaction price and all constrained amounts in each reporting period and as uncertain events are resolved or other changes in circumstances occur. None of the development and sales-based milestone payments have been included in the transaction price. The Company assessed the agreement with Kite in accordance with ASC Topic 606 and concluded that Kite is a customer. Kite has the right to terminate this agreement in its entirety or on a per licensed product or per candidate target basis for any reason after a specified notice period. Each party has the right to terminate this agreement on account of the other party’s bankruptcy or material, uncured breach. The Company has identified the primary performance obligations within the Kite agreement as: (1) a license to the technology along with the stand-ready obligation to perform research services, and (2) the ongoing research services. Revenue from the upfront license fee relates to access to the license and Company’s obligation to stand-ready to perform such research services as additional targets are selected by Kite. As a result of this obligation to perform research services when and if requested throughout the duration of the contract, the fee for the license and the stand-ready obligation will be recognized over time on a straight-line basis through April 2024, the estimated period of the stand-ready obligation. Revenue from the reimbursable costs related to the integrated service deliverable is recognized as the research services are performed. Related costs and expenses under these arrangements have historically approximated the revenues recognized. The estimated period of performance and project cost is reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. As of September 30, 2022 and December 31, 2021, the Company had a receivable of $0.6 million and $0.1 million, respectively, and deferred revenue of $37.8 million and $56.5 million, respectively, related to this agreement. Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Kite agreement: Recognition of license and stand-ready fee $ 6,296 $ 6,296 $ 18,682 $ 18,682 Research services 619 113 875 339 Total $ 6,915 $ 6,409 $ 19,557 $ 19,021 Sanofi S.A. In January 2014, the Company entered into an exclusive worldwide collaboration and license agreement (“2014 Collaboration Agreement”) to develop therapeutics for hemoglobinopathies, focused on beta thalassemia and sickle cell disease (“SCD”). The 2014 Collaboration Agreement was originally signed with BIMA, who subsequently assigned it to Bioverativ Inc., which was later acquired by Sanofi. Under the 2014 Collaboration Agreement, the Company was originally jointly conducting two research programs: a beta thalassemia program, which was discontinued in the third quarter of 2021, and the SCD program, which resulted in the development of SAR445136 (now known as BIVV003), a ZFN, gene-edited cell therapy product candidate for the treatment of SCD, which remains active. In December 2021, Sanofi notified the Company of its termination for convenience, effective June 28, 2022 (the “Termination Date”), of the 2014 Collaboration Agreement. A termination and transition agreement (the “Termination and Transition Agreement”) was executed by the parties on September 6, 2022. In the SCD program, the Company and Sanofi were jointly responsible for research and development activities prior to filing of an IND, but Sanofi was responsible for subsequent worldwide clinical development, manufacturing and commercialization of licensed products developed under the agreement. Subject to the terms of the agreement, the Company had granted Sanofi an exclusive, royalty-bearing license, with the right to grant sublicenses, to use certain ZFP and other technology controlled by the Company for the purpose of researching, developing, manufacturing and commercializing licensed products developed under the agreement. The Company had also granted Sanofi a non-exclusive worldwide, royalty-free fully paid license with the right to grant sublicenses, under the Company’s interest in certain other intellectual property developed pursuant to the agreement. During the term of the agreement, the Company was not permitted to research, develop, manufacture or commercialize, outside of the agreement, certain gene therapy products that target genes relevant to the licensed products. Under the agreement, the Company received an upfront license fee of $20.0 million and was eligible to receive additional payments upon the achievement of specified clinical development, regulatory and sales milestones, as well as royalty payments for each licensed product based on net sales of such product. Sanofi was also to reimburse Sangamo for agreed upon costs incurred in connection with research and development activities conducted by Sangamo. Through the Termination Date, a total of $13.5 million has been received based upon achievement of clinical development milestones. No products have been approved and therefore no royalty fees have been or will be earned under the 2014 Collaboration Agreement. In its termination notice to the Company, Sanofi indicated that its termination relates to Sanofi’s change in strategic direction to focus on allogeneic universal genomic medicine approaches rather than autologous personalized cell therapies. As of the Termination Date, the 2014 Collaboration Agreement was terminated in its entirety and following the Termination Date, the Company will not be entitled to receive any further milestone payments or royalties from Sanofi. As of the Termination Date, Sanofi has no further obligations under the 2014 Collaboration Agreement to develop or to fund the development of any collaboration research programs under the 2014 Collaboration Agreement. The licenses granted to Sanofi under the 2014 Collaboration Agreement have been terminated, and the license rights have reverted to the Company. As part of the Termination and Transition Agreement, Sanofi granted to the Company exclusive, worldwide, fully paid, royalty-free, perpetual, irrevocable licenses, with the right to grant sublicenses through multiple tiers, to certain of its intellectual property, to develop, manufacture, use, sell and otherwise commercialize BIVV003, the product candidate in development under the SCD program. The Company has agreed to take on responsibilities for all clinical trials related to BIVV003, including completion of the ongoing clinical trial and the related long-term follow-up study. The Company also assumed all regulatory responsibilities related to BIVV003. Sanofi has agreed to provide post-transition assistance to the Company for up to 90 days after the Termination Date, and transferred or assigned to the Company all documentation, materials, contracts with third parties, and the right to use certain Sanofi-owned equipment related to BIVV003. Sanofi has also agreed to reimburse the Company for the costs of conducting the ongoing clinical trial of BIVV003 and the costs of the long-term follow-up study through December 31, 2023, up to $7.0 million. In addition, should the Company elect not to continue the development of BIVV003 past December 31, 2023, Sanofi will become obligated to reimburse the Company for the costs of the long-term follow-up study incurred after 2023, up to $5.3 million. Sanofi’s reimbursement obligations will terminate upon certain triggering events, including the Company’s entering into a contract with a third party for collaboration, partnership, sale, licensing, or divestiture of BIVV003, or if the FDA permits early closure of the clinical trial and/or the long-term follow-up study. The Company assessed the 2014 Collaboration Agreement with Sanofi in accordance with ASC Topic 606 and concluded that Sanofi was a customer, under that arrangement. The Company identified the performance obligation within this arrangement as a license to the technology combined with ongoing research services activities. The Company concluded that the license was not distinct as it did not have value to Sanofi without the research services. As a result, the Company recognized revenue from the upfront payment and the milestones based on progress of performance of the ongoing research services. The estimation of progress towards the satisfaction of the performance obligation and project cost was reviewed quarterly and adjusted, as needed, to reflect the Company’s then-current assumptions regarding the timing of its deliverables. Related costs and expenses under these arrangements have historically approximated the revenues recognized. Sanofi’s December 2021 notice of termination of the 2014 Collaboration Agreement represented a modification that reduced the expected scope of the Company’s services and the estimated transaction price and shortened the remaining performance timeline. Consistent with this change, all services under the 2014 Collaboration Agreement were completed by June 28, 2022, and all amounts ultimately included in the transaction price were recognized by such date. The final transaction price of $96.3 million includes the upfront license fee of $20.0 million, two milestone payments in the aggregate amount of $13.5 million and reimbursement of research costs of $62.8 million. As of September 30, 2022 and December 31, 2021, the Company had a receivable of zero and $0.6 million, respectively, related to the 2014 Collaboration Agreement. Deferred revenue related to the 2014 Collaboration Agreement was zero and $1.1 million as of September 30, 2022 and December 31, 2021, respectively. The Company concluded that Sanofi is not a customer under the Termination and Transition Agreement as Sanofi is not entitled to receive and cannot use the results of the ongoing clinical trial or the long-term follow-up study. This relationship is also not a collaboration in the scope of ASC Topic 808, Collaborative Arrangements . The Company concluded that the assets acquired from Sanofi do not represent a business, as substantially all of their value is concentrated in the acquired or re-acquired licenses to intellectual property. The Company has no obligation to repay Sanofi for its ongoing funding of the clinical trial or long-term follow-up study costs. Therefore, the Company will recognize Sanofi reimbursements as reductions of its research and development expense. During the three and nine months ended September 30, 2022, the Company decreased its research and development expense by $0.9 million, which is included within prepaid expenses and other current assets on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2022. Revenues recognized under the 2014 Collaboration Agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Sanofi agreement: Recognition of upfront fee $ — $ (1,125) $ 677 $ (692) Research services — 1,125 2,126 2,417 Milestone achievement — (759) 457 (467) Total $ — $ (759) $ 3,260 $ 1,258 In September 2021, the Company recorded an adjustment to revenue related to a change in estimate in connection with the collaboration agreement with Sanofi. This adjustment was a result of an increase in the project costs for its beta thalassemia program and the increase in project scope and the corresponding costs for its SCD program, both of which resulted in a decrease in the measure of proportional cumulative performance. This adjustment decreased revenue by $2.5 million, increased net loss by $2.5 million and increased the Company's basic and diluted net loss per share by $0.02 for the three and nine months ended September 30, 2021. Pfizer Inc. Giroctocogene Fitelparvovec Global Collaboration and License Agreement In May 2017, the Company entered into an exclusive global collaboration and license agreement with Pfizer Inc. (“Pfizer”), pursuant to which it established a collaboration for the research, development

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The following table shows total stock-based compensation expense included in the Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Research and development $ 4,395 $ 4,935 $ 13,656 $ 14,645 General and administrative 3,398 2,938 9,746 10,235 Total stock-based compensation expense $ 7,793 $ 7,873 $ 23,402 $ 24,880

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY At-the-Market Offering Agreement In August 2020, the Company entered into an Open Market Sale Agreement℠ with Jefferies LLC (“Jefferies”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of the Company’s common stock having an aggregate offering price of up to $150.0 million through Jefferies as the Company’s sales agent or principal. The Company is not obligated to sell any shares under the sales agreement. During the three and nine months ended September 30, 2022, the Company sold 8,483,104 and 14,711,770 shares of its common stock for net proceeds of approximately $42.2 million and $66.4 million, respectively, of which approximately $0.6 million was received in October 2022 and recorded within prepaid expenses and other current assets on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2022. During the three and nine months ended September 30, 2021, the Company sold 202,705 and 2,007,932 shares of its common stock for net proceeds of approximately $2.4 million, and $27.1 million, respectively.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. During the three and nine months ended September 30, 2022, the Company recorded income tax expense of $0.1 million and $0.2 million, respectively. During the three and nine months ended September 30, 2021, the Company recorded income tax expense of $0.1 million and $0.4 million, respectively. The Company continues to maintain a full valuation allowance on its U.S. federal and state net deferred tax assets and on the Sangamo France net deferred tax assets, as the Company believes it is not more likely than not that these benefits will be realized. The tax expense for the three and nine months ended September 30, 2022 was primarily due to foreign income tax expense. The Coronavirus Aid, Relief, and Economic Security Act, enacted on March 27, 2020, provided an Employee Retention Credit (“ERC”), which is a refundable payroll tax credit that encouraged businesses to keep employees on the payroll during the COVID-19 pandemic. Eligible employers could qualify for up to $5,000 of credit for each employee based on certain wages paid after March 12, 2020 and before January 1, 2021 and extended to September 30, 2021. Based on the Company’s evaluation of this provision and the significant pandemic-related impacts on the operations, the Company recognized zero and $3.0 million of ERC for the three and nine months ended September 30, 2022, respectively, within interest and other income, net in Condensed Consolidated Statement of Operations upon filing for the refund in January and April 2022. No refund has been received during the three and nine months ended September 30, 2022 and the amount has been recorded within prepaid expenses and other current assets on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2022.

ORGANIZATION, BASIS OF PRESEN_2

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of these financial statements for the periods presented have been included. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The Condensed Consolidated Balance Sheet data at December 31, 2021 was derived from the audited Consolidated Financial Statements included in Sangamo’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”) as filed with the SEC on February 24, 2022. The accompanying Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in the Condensed Consolidated Financial Statements. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net loss attributable to non-controlling interests on its Condensed Consolidated Statements of Operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties. The accompanying Condensed Consolidated Financial Statements and related financial information should be read together with the audited Consolidated Financial Statements and footnotes for the year ended December 31, 2021, included in the 2021 Annual Report.
Use of Estimates	Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. On an ongoing basis, management evaluates its estimates including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, income taxes, fair value of assets and liabilities, including from acquisitions, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for
Revenue Recognition	Revenue Recognition The Company accounts for its revenues pursuant to the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). The Company’s contract revenues are derived from collaboration agreements including licensing arrangements and research activity grants. Research and licensing agreements typically include upfront signing or license fees, cost reimbursements for research services, minimum sublicense fees, milestone payments and royalties on future licensees’ product sales. The Company has agreements with both fixed and variable consideration. Non-refundable upfront fees and funding of research and development activities are considered fixed, while milestone payments are generally identified as variable consideration. Sangamo’s research grants are typically multi-year agreements and provide for the reimbursement of qualified expenses for research and development as defined under the terms of the grant agreement. Revenues under research grant agreements are generally recognized when the related qualified research expenses are incurred. Deferred revenue primarily represents the portion of research or license payments received but not earned. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company’s performance obligations include license rights, development services and services associated with regulatory submission and approval processes. Revenues from research services earned under collaboration agreements are generally recognized as revenue as the related services are provided. Revenues from non-refundable upfront fees are recognized over time either by measuring progress towards satisfaction of the relevant performance obligation, using the input method (i.e., cumulative actual costs incurred relative to total estimated costs) or on a straight-line basis when a performance obligation is expected to be satisfied evenly over a period of time (or when the entity has a stand-ready obligation). Significant management judgment is required to determine the level of effort required under an arrangement, and the period over which the Company expects to complete its performance obligations under the arrangement, which may include total internal personnel costs and external costs to be incurred as well as, in certain cases, the estimated stand-ready obligation period. Changes in these estimates can have a material effect on revenue recognized. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. The Company includes the unconstrained amount of estimated variable consideration in the transaction price. The amount included in the transaction price is constrained to the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. The estimated period of performance and project costs, such as personnel and manufacturing cost, are reviewed quarterly and adjusted, as needed, to reflect the Company’s current assumptions regarding the timing of its deliverables. As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. Related costs and expenses under these arrangements have historically approximated the revenues recognized. Revenues from major collaboration agreements and research activity grants as a percentage of total revenues were as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Novartis Institutes for BioMedical Research, Inc. 36 % 40 % 35 % 35 % Biogen MA, Inc. 36 % 38 % 36 % 39 % Kite Pharma, Inc. 26 % 22 % 23 % 23 % Sanofi S.A. — % (3) % 4 % 2 % Funds received from the Company’s collaboration partners are generally not refundable and are recorded as revenue as the Company fulfills its performance obligations, which are satisfied over time (i.e., stand ready obligations) or by using the input method (i.e., cumulative actual costs incurred relative to total estimated costs). Revenue is also recognized when the Company has incurred qualified research and development costs that are reimbursable from its collaboration partners and when there is reasonable assurance that such costs will be reimbursed. Any payments received from a collaboration partner in advance of the completion of the relevant performance obligation are recorded as deferred revenue.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash Sangamo considers all highly liquid investments purchased with original maturities of three months or less at the purchase date to be cash equivalents. Cash and cash equivalents consist of cash, deposits in demand money market accounts and U.S. government-sponsored entity debt securities. Restricted cash consists of a letter of credit for $1.5 million, representing a deposit for the lease of the corporate headquarters in Brisbane, California.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements None.
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, marketable securities, and the free shares asset. Fair value is determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurements and unobservable (i.e., supported by little or no market activity).

ORGANIZATION, BASIS OF PRESEN_3

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Revenue from Strategic Partnering Collaboration Agreements and Research Activity Grants as a Percentage of Total Revenues	Revenues from major collaboration agreements and research activity grants as a percentage of total revenues were as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Novartis Institutes for BioMedical Research, Inc. 36 % 40 % 35 % 35 % Biogen MA, Inc. 36 % 38 % 36 % 39 % Kite Pharma, Inc. 26 % 22 % 23 % 23 % Sanofi S.A. — % (3) % 4 % 2 %
Schedule of Cash and Cash Equivalents	A reconciliation of cash, cash equivalents, and restricted cash reported within the Condensed Consolidated Balance Sheets to the amounts reported within the accompanying Condensed Consolidated Statements of Cash Flows is as follows (in thousands): September 30, December 31, September 30, December 31, Cash and cash equivalents $ 94,570 $ 178,872 $ 176,954 $ 131,329 Non-current restricted cash 1,500 1,500 1,500 1,500 Cash, cash equivalents, and restricted cash as reported within the accompanying Condensed Consolidated Statements of Cash Flows $ 96,070 $ 180,372 $ 178,454 $ 132,829
Restrictions on Cash and Cash Equivalents	A reconciliation of cash, cash equivalents, and restricted cash reported within the Condensed Consolidated Balance Sheets to the amounts reported within the accompanying Condensed Consolidated Statements of Cash Flows is as follows (in thousands): September 30, December 31, September 30, December 31, Cash and cash equivalents $ 94,570 $ 178,872 $ 176,954 $ 131,329 Non-current restricted cash 1,500 1,500 1,500 1,500 Cash, cash equivalents, and restricted cash as reported within the accompanying Condensed Consolidated Statements of Cash Flows $ 96,070 $ 180,372 $ 178,454 $ 132,829

FAIR VALUE MEASUREMENTS - (Tabl

FAIR VALUE MEASUREMENTS - (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Fair Value Measurements of Cash Equivalents and Marketable Securities	The fair value measurements of the Company’s cash equivalents and marketable securities are identified at the following levels within the fair value hierarchy (in thousands): September 30, 2022 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 44,911 $ 44,911 $ — $ — Total 44,911 44,911 — — Marketable securities: U.S. government-sponsored entity debt securities 23,392 — 23,392 — Commercial paper securities 120,386 — 120,386 — Corporate debt securities 14,888 — 14,888 — Asset-backed securities 37,773 — 37,773 — U.S. treasury bills 16,922 — 16,922 — Certificates of deposit 42,337 — 42,337 — Total 255,698 — 255,698 — Total cash equivalents and marketable securities $ 300,609 $ 44,911 $ 255,698 $ — December 31, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Cash equivalents: Money market funds $ 119,919 $ 119,919 $ — $ — Total 119,919 119,919 — — Marketable securities: U.S. government-sponsored entity debt securities 30,614 — 30,614 — Commercial paper securities 105,757 — 105,757 — Corporate debt securities 33,682 — 33,682 — Asset-backed securities 70,701 — 70,701 — Certificates of deposit 45,091 — 45,091 — Total 285,845 — 285,845 — Total cash equivalents and marketable securities $ 405,764 $ 119,919 $ 285,845 $ —

CASH EQUIVALENTS AND MARKETAB_2

CASH EQUIVALENTS AND MARKETABLE SECURITIES - (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	The table below summarizes the Company’s cash equivalents and marketable securities (in thousands): Amortized Gross Gross Estimated September 30, 2022 Assets Cash equivalents: Money market funds $ 44,911 $ — $ — $ 44,911 Total 44,911 — — 44,911 Marketable securities: U.S. government-sponsored entity debt securities 23,832 — (440) 23,392 Commercial paper securities 120,750 11 (375) 120,386 Corporate debt securities 15,050 — (162) 14,888 Asset-backed securities 38,039 2 (268) 37,773 U.S. treasury bills 16,943 — (21) 16,922 Certificate of deposits 42,478 5 (146) 42,337 Total 257,092 18 (1,412) 255,698 Total cash equivalents and marketable securities $ 302,003 $ 18 $ (1,412) $ 300,609 December 31, 2021 Assets Cash equivalents: Money market funds $ 119,919 $ — $ — $ 119,919 Total 119,919 — — 119,919 Marketable securities: U.S. government-sponsored entity debt securities 30,700 1 (87) 30,614 Commercial paper securities 105,792 7 (42) 105,757 Corporate debt securities 33,723 1 (42) 33,682 Asset-backed securities 70,807 1 (107) 70,701 Certificate of deposits 45,116 1 (26) 45,091 Total 286,138 11 (304) 285,845 Total cash equivalents and marketable securities $ 406,057 $ 11 $ (304) $ 405,764
Fair value of investments available-for-sale	The fair value of marketable securities by contractual maturity were as follows (in thousands): September 30, December 31, Maturing in one year or less $ 218,998 $ 197,676 Maturing after one year through five years 36,700 88,169 Total $ 255,698 $ 285,845

MAJOR CUSTOMERS, PARTNERSHIPS_2

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - (Tables)	9 Months Ended
	Sep. 30, 2022
Novartis Institutes for BioMedical Research, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues Recognized under Agreement	Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Novartis agreement: Recognition of upfront license fee $ 7,582 $ 9,093 $ 23,222 $ 22,852 Research services 2,028 2,421 6,211 6,104 Total $ 9,610 $ 11,514 $ 29,433 $ 28,956
Biogen MA, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues Recognized under Agreement	Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Biogen agreement: Recognition of license and stand-ready fee $ 7,306 $ 7,306 $ 21,918 $ 21,918 Research services 2,107 3,661 8,740 10,266 Total $ 9,413 $ 10,967 $ 30,658 $ 32,184
Kite Pharma, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues Recognized under Agreement	Revenues recognized under the agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Kite agreement: Recognition of license and stand-ready fee $ 6,296 $ 6,296 $ 18,682 $ 18,682 Research services 619 113 875 339 Total $ 6,915 $ 6,409 $ 19,557 $ 19,021
Sanofi S.A.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues Recognized under Agreement	Revenues recognized under the 2014 Collaboration Agreement were as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenue related to Sanofi agreement: Recognition of upfront fee $ — $ (1,125) $ 677 $ (692) Research services — 1,125 2,126 2,417 Milestone achievement — (759) 457 (467) Total $ — $ (759) $ 3,260 $ 1,258

STOCK-BASED COMPENSATION - (Tab

STOCK-BASED COMPENSATION - (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	The following table shows total stock-based compensation expense included in the Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Research and development $ 4,395 $ 4,935 $ 13,656 $ 14,645 General and administrative 3,398 2,938 9,746 10,235 Total stock-based compensation expense $ 7,793 $ 7,873 $ 23,402 $ 24,880

ORGANIZATION, BASIS OF PRESEN_4

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		102 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 28, 2022
Change in Accounting Estimate [Line Items]
Decreased revenue	$ (26,460)	$ (28,563)	$ (84,069)	$ (82,715)
Increased net loss	$ 53,155	$ 47,688	$ 140,305	$ 140,801
Increased earnings per share, basic (in dollars per share)	$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Increased earnings per share, diluted (in dollars per share)	$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Letter of credit established as a deposit	$ 1,500		$ 1,500
Sanofi S.A.
Change in Accounting Estimate [Line Items]
Decreased revenue	$ 0	$ 759	$ (3,260)	$ (1,258)	$ (13,500)
Sanofi S.A. | Change In Collaboration Agreement Scope | Collaboration agreement
Change in Accounting Estimate [Line Items]
Decreased revenue		2,500		2,500
Increased net loss		$ 2,500		$ 2,500
Increased earnings per share, basic (in dollars per share)		$ 0.02		$ 0.02
Increased earnings per share, diluted (in dollars per share)		$ 0.02		$ 0.02

ORGANIZATION, BASIS OF PRESEN_5

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues from Strategic Partnering Collaboration Agreements and Research Activity Grants (Detail) - Revenue from contract with customer - Customer concentration risk	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Novartis Institutes for BioMedical Research, Inc.
Concentration Risk [Line Items]
Percentage of revenues	36%	40%	35%	35%
Biogen MA, Inc.
Concentration Risk [Line Items]
Percentage of revenues	36%	38%	36%	39%
Kite Pharma, Inc.
Concentration Risk [Line Items]
Percentage of revenues	26%	22%	23%	23%
Sanofi S.A.
Concentration Risk [Line Items]
Percentage of revenues	0%	(3.00%)	4%	2%

ORGANIZATION, BASIS OF PRESEN_6

ORGANIZATION, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 94,570	$ 178,872	$ 176,954	$ 131,329
Non-current restricted cash	1,500	1,500	1,500	1,500
Cash, cash equivalents, and restricted cash as reported within the accompanying Condensed Consolidated Statements of Cash Flows	$ 96,070	$ 180,372	$ 178,454	$ 132,829

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 255,698	$ 285,845
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,911	119,919
U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,392	30,614
Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	120,386	105,757
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,888	33,682
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	37,773	70,701
U.S. treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	16,922
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	42,337	45,091
Fair value on recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,911	119,919
Total marketable securities	255,698	285,845
Total cash equivalents and marketable securities and free shares asset	300,609	405,764
Fair value on recurring basis | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,911	119,919
Fair value on recurring basis | U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,392	30,614
Fair value on recurring basis | Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	120,386	105,757
Fair value on recurring basis | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,888	33,682
Fair value on recurring basis | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	37,773	70,701
Fair value on recurring basis | U.S. treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	16,922
Fair value on recurring basis | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	42,337	45,091
Fair value on recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,911	119,919
Total marketable securities	0	0
Total cash equivalents and marketable securities and free shares asset	44,911	119,919
Fair value on recurring basis | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	44,911	119,919
Fair value on recurring basis | Level 1 | U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 1 | Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 1 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 1 | U.S. treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Fair value on recurring basis | Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total marketable securities	255,698	285,845
Total cash equivalents and marketable securities and free shares asset	255,698	285,845
Fair value on recurring basis | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value on recurring basis | Level 2 | U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	23,392	30,614
Fair value on recurring basis | Level 2 | Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	120,386	105,757
Fair value on recurring basis | Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	14,888	33,682
Fair value on recurring basis | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	37,773	70,701
Fair value on recurring basis | Level 2 | U.S. treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	16,922
Fair value on recurring basis | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	42,337	45,091
Fair value on recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total marketable securities	0	0
Total cash equivalents and marketable securities and free shares asset	0	0
Fair value on recurring basis | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Fair value on recurring basis | Level 3 | U.S. government-sponsored entity debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 3 | Commercial paper securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 3 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Fair value on recurring basis | Level 3 | U.S. treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0
Fair value on recurring basis | Level 3 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 0	$ 0

CASH EQUIVALENTS AND MARKETAB_3

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of Cash Equivalents and Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash equivalents, Amortized Cost	$ 94,570	$ 178,872	$ 176,954	$ 131,329
Available-for-sale securities, Amortized Cost	257,092	286,138
Available-for-sale securities, Gross Unrealized Gains	18	11
Available-for-sale securities, Gross Unrealized (Losses)	(1,412)	(304)
Available-for-sale securities, Estimated Fair Value	255,698	285,845
Total cash equivalents and available-for-sale securities, Amortized Cost	302,003	406,057
Total cash equivalents and available-for-sale securities, Gross Unrealized Gains	18	11
Total cash equivalents and available-for-sale securities, Gross Unrealized (Losses)	(1,412)	(304)
Total cash equivalents and available-for-sale securities, Estimated Fair Value	300,609	405,764
Money market funds
ASSETS
Cash equivalents, Amortized Cost	44,911	119,919
Cash equivalents, Gross Unrealized Gains	0	0
Cash equivalents, Gross Unrealized (Losses)	0	0
Cash equivalents, Estimated Fair Value	44,911	119,919
Cash equivalents
ASSETS
Cash equivalents, Amortized Cost	44,911	119,919
Cash equivalents, Gross Unrealized Gains	0	0
Cash equivalents, Gross Unrealized (Losses)	0	0
Cash equivalents, Estimated Fair Value	44,911	119,919
U.S. government-sponsored entity debt securities
ASSETS
Available-for-sale securities, Amortized Cost	23,832	30,700
Available-for-sale securities, Gross Unrealized Gains	0	1
Available-for-sale securities, Gross Unrealized (Losses)	(440)	(87)
Available-for-sale securities, Estimated Fair Value	23,392	30,614
Commercial paper securities
ASSETS
Available-for-sale securities, Amortized Cost	120,750	105,792
Available-for-sale securities, Gross Unrealized Gains	11	7
Available-for-sale securities, Gross Unrealized (Losses)	(375)	(42)
Available-for-sale securities, Estimated Fair Value	120,386	105,757
Corporate debt securities
ASSETS
Available-for-sale securities, Amortized Cost	15,050	33,723
Available-for-sale securities, Gross Unrealized Gains	0	1
Available-for-sale securities, Gross Unrealized (Losses)	(162)	(42)
Available-for-sale securities, Estimated Fair Value	14,888	33,682
Asset-backed securities
ASSETS
Available-for-sale securities, Amortized Cost	38,039	70,807
Available-for-sale securities, Gross Unrealized Gains	2	1
Available-for-sale securities, Gross Unrealized (Losses)	(268)	(107)
Available-for-sale securities, Estimated Fair Value	37,773	70,701
U.S. treasury bills
ASSETS
Available-for-sale securities, Amortized Cost	16,943
Available-for-sale securities, Gross Unrealized Gains	0
Available-for-sale securities, Gross Unrealized (Losses)	(21)
Available-for-sale securities, Estimated Fair Value	16,922
Certificates of deposit
ASSETS
Available-for-sale securities, Amortized Cost	42,478	45,116
Available-for-sale securities, Gross Unrealized Gains	5	1
Available-for-sale securities, Gross Unrealized (Losses)	(146)	(26)
Available-for-sale securities, Estimated Fair Value	$ 42,337	$ 45,091

CASH EQUIVALENTS AND MARKETAB_4

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of cost and estimated fair value of short-term investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Maturing in one year or less	$ 218,998	$ 197,676
Maturing after one year through five years	36,700	88,169
Total	$ 255,698	$ 285,845

CASH EQUIVALENTS AND MARKETAB_5

CASH EQUIVALENTS AND MARKETABLE SECURITIES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Realized investment gains (losses)	$ 0	$ 0	$ 0	$ 0
Allowance for credit loss related to marketable securities, not previously recorded	0	0	0	0
Other impairment charges related to marketable securities	0	$ 0	0	$ 0
Allowance for credit loss related to marketable securities	$ 0		$ 0		$ 0

BASIC AND DILUTED NET LOSS PE_2

BASIC AND DILUTED NET LOSS PER SHARE - Additional Information (Detail) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Stock options and RSUs outstanding (in shares)	18,524,016	15,838,002

MAJOR CUSTOMERS, PARTNERSHIPS_3

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Novartis Institutes for BioMedical Research, Inc. (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Jul. 27, 2020	Aug. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2021
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable			$ 4,522			$ 4,522			$ 6,013
Novartis Institutes for BioMedical Research, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contract asset		$ 1,500
Novartis Institutes for BioMedical Research, Inc. | Collaboration And License Agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Proceeds from collaborators		$ 75,000
Collaborative arrangement transaction price	$ 95,100
License fee	75,000
Collaborative arrangement estimated reimbursable service costs	20,100
Accounts receivable			2,000			2,000			1,900
Deferred revenue			17,700			17,700			$ 40,900
Financial advisory fees					$ 1,500
Percent of initial recognition								2%
Amortization			$ 200	$ 200		$ 500	$ 500
Novartis Institutes for BioMedical Research, Inc. | Collaboration And License Agreement | Achievement Of Specified Preclinical Development Clinical Development And First Commercial Sale Milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	420,000
Novartis Institutes for BioMedical Research, Inc. | Collaboration And License Agreement | Achievement Of Commercial Milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received	$ 300,000

MAJOR CUSTOMERS, PARTNERSHIPS_4

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Revenues Recognized under Agreement (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		102 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 28, 2022
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	$ 26,460	$ 28,563	$ 84,069	$ 82,715
Novartis Institutes for BioMedical Research, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	9,610	11,514	29,433	28,956
Novartis Institutes for BioMedical Research, Inc. | Recognition of upfront fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	7,582	9,093	23,222	22,852
Novartis Institutes for BioMedical Research, Inc. | Research services
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	2,028	2,421	6,211	6,104
Biogen MA, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	9,413	10,967	30,658	32,184
Biogen MA, Inc. | Recognition of upfront fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	7,306	7,306	21,918	21,918
Biogen MA, Inc. | Research services
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	2,107	3,661	8,740	10,266
Kite Pharma, Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	6,915	6,409	19,557	19,021
Kite Pharma, Inc. | Recognition of upfront fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	6,296	6,296	18,682	18,682
Kite Pharma, Inc. | Research services
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	619	113	875	339
Sanofi
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	0	(759)	3,260	1,258	$ 13,500
Sanofi | Recognition of upfront fee
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	0	(1,125)	677	(692)
Sanofi | Research services
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	0	1,125	2,126	2,417
Sanofi | Milestone achievement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues	$ 0	$ (759)	$ 457	$ (467)

MAJOR CUSTOMERS, PARTNERSHIPS_5

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Biogen MA, Inc. (Detail) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2020 USD ($)	Apr. 30, 2020 USD ($) product_target $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable			$ 4,522		$ 4,522			$ 6,013
Biogen MA, Inc. | Stock purchase agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of shares issued in transaction (in shares) | shares		24,420,157
Sale of stock, price per share (in dollars per share) | $ / shares		$ 9.2137
Consideration received on transaction		$ 225,000
Standstill restriction period		3 years
Standstill restriction, ownership threshold percentage ownership percentage		5%
Collaborative arrangement transaction price		$ 204,600
Excess consideration received on transaction		79,600
Collaboration agreement, equity issued		145,400
Accounts receivable			1,700		1,700			2,800
Deferred revenue			132,100		132,100			$ 154,000
Recognized portion of equity issued							$ 2,900
Biogen MA, Inc. | Collaboration And License Agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Consideration received on transaction		204,600
Proceeds from collaborators	$ 125,000	125,000
Maximum milestone payment receivable		$ 2,400,000
Number of additional product targets | product_target		7
Remaining period		5 years
Number of product targets selected | product_target		3
Research period		7 years
Maximum number of product targets replaced | product_target		10
Financial advisory fees							$ 7,000
Percent of initial recognition		2%
Portion of contract asset recognized			4,100		4,100
Amortization			$ 100	$ 100	$ 400	$ 400
Biogen MA, Inc. | Collaboration And License Agreement | Pre-approval milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Maximum milestone payment receivable		$ 925,000
Biogen MA, Inc. | Collaboration And License Agreement | Sales-based milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Maximum milestone payment receivable		$ 1,500,000

MAJOR CUSTOMERS, PARTNERSHIPS_6

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Kite Pharma, Inc. (Detail) $ in Thousands	1 Months Ended
	Sep. 30, 2019 USD ($)	Apr. 30, 2018 USD ($) milestone option	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Accounts receivable			$ 4,522	$ 6,013
Kite Pharma, Inc. | Collaboration And License Agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone payments received		$ 150,000
Development and sales-based milestone payments to be received		$ 3,000,000
Initial research term of agreement		6 years
Number of options to extend initial research term | option		2
Extended research term of agreement		1 year
Separate upfront fee		$ 10,000
Collaborative arrangement estimated reimbursable service costs for new research plan	$ 3,400
Collaborative arrangement transaction price	189,300
Revenues under agreement	150,000
Collaborative arrangement estimated reimbursable service costs	$ 39,300
Accounts receivable			600	100
Deferred revenue			$ 37,800	$ 56,500
Kite Pharma, Inc. | Collaboration And License Agreement | Achievement of specified research, clinical development, regulatory and first commercial sale milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contingent development - and sales-based milestone payments to be received		1,300,000
Kite Pharma, Inc. | Collaboration And License Agreement | Achievement of specified sales-based milestones if annual worldwide net sales of licensed products reach specified levels
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contingent development - and sales-based milestone payments to be received		$ 1,800,000
Maximum amount of achieved milestones to receive payment | milestone		10

MAJOR CUSTOMERS, PARTNERSHIPS_7

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Sanofi S.A. (Detail) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		102 Months Ended
	Sep. 06, 2022 USD ($)	Jan. 31, 2014 USD ($) program	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2022 USD ($) product milestone $ / shares	Sep. 30, 2021 USD ($) $ / shares	Jun. 28, 2022 USD ($)	Dec. 31, 2021 USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues			$ 26,460	$ 28,563	$ 84,069	$ 82,715
Accounts receivable			4,522		4,522			$ 6,013
Decrease in research and development expense			900		900
Increased net loss			$ 53,155	$ 47,688	$ 140,305	$ 140,801
Increased earnings per share, diluted (in dollars per share) | $ / shares			$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Increased earnings per share, basic (in dollars per share) | $ / shares			$ (0.34)	$ (0.33)	$ (0.93)	$ (0.98)
Sanofi S.A.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of research programs | program		2
Revenues under agreement		$ 20,000
Revenues			$ 0	$ (759)	$ 3,260	$ 1,258	$ 13,500
Number of products approved | product					0
Post transition assistance period	90 days
Expenses reimbursable through December 31, 2023 (up to)	$ 7,000
Expenses reimbursable after December 31, 2023 (up to)	$ 5,300
Sanofi S.A. | Collaboration And License Agreement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement							20,000
Number of milestones included in transaction price | milestone					0
Collaborative arrangement transaction price							96,300
Collaborative arrangement estimated reimbursable service costs							62,800
Accounts receivable			0		$ 0			600
Deferred revenue			$ 0		$ 0			$ 1,100
Sanofi S.A. | Collaboration And License Agreement | Milestone three
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone revenue receivable							$ 13,500
Sanofi S.A. | Collaboration agreement | Change In Collaboration Agreement Scope
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues				(2,500)		(2,500)
Increased net loss				$ 2,500		$ 2,500
Increased earnings per share, diluted (in dollars per share) | $ / shares				$ 0.02		$ 0.02
Increased earnings per share, basic (in dollars per share) | $ / shares				$ 0.02		$ 0.02

MAJOR CUSTOMERS, PARTNERSHIPS_8

MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - Pfizer Inc. (Detail)	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended	52 Months Ended	65 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2017 USD ($)	May 31, 2017 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2022 USD ($) milestone product	Sep. 30, 2022 USD ($) product milestone
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues				$ 26,460,000	$ 28,563,000	$ 84,069,000	$ 82,715,000
Pfizer Inc.
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Agreement termination, term			15 years
Pfizer Inc. | S B Five Two Five And Other Products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement			$ 70,000,000
Potential amount to be funded for achievement of specified commercialized and sales milestones			266,500,000
Milestone revenue receivable			300,000,000
Pfizer Inc. | S B Five Two Five And Other Products | Achievement of specified clinical development intellectual property and regulatory milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received			208,500,000
Pfizer Inc. | S B Five Two Five And Other Products | Achievement of first commercial sale milestones
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received			475,000,000
Pfizer Inc. | Other products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone revenue receivable			175,000,000
Pfizer Inc. | C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement		$ 5,000,000						$ 5,000,000
Development and sales-based milestone payments to be received	$ 5,000,000
Collaborative arrangement transaction price		$ 17,000,000
Pfizer SB-525
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement										$ 55,000,000
Collaborative arrangement transaction price			134,000,000
Research service fees			$ 79,000,000
Revenues				0	0	0	0
Pfizer SB-525 | S B Five Two Five And Other Products
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Collaborative arrangement, number of milestones achieved | milestone										2
Milestone payments received										$ 55,000,000
Number of products approved | product										0
Number of milestones included in transaction price | milestone									0
Pfizer C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Agreement termination, term		15 years
Milestone payments received		$ 12,000,000							$ 5,000,000
Number of products approved | product									0
Number of milestones included in transaction price | milestone									0
Pfizer C9ORF72 | C9ORF72
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Revenues under agreement		12,000,000
Revenues				$ 0	$ 0	$ 0	$ 0
Pfizer C9ORF72 | C9ORF72 | Achievement Of Specified Preclinical Development Clinical Development And First Commercial Sale Milestones | Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received		60,000,000
Pfizer C9ORF72 | C9ORF72 | Achievement Of Commercial Milestones | Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Development and sales-based milestone payments to be received		$ 90,000,000

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 7,793	$ 7,873	$ 23,402	$ 24,880
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	4,395	4,935	13,656	14,645
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 3,398	$ 2,938	$ 9,746	$ 10,235

STOCKHOLDERS' EQUITY (Detail)

STOCKHOLDERS' EQUITY (Detail) - Jefferies LLC - At-The-Market Offering Agreement - USD ($) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2022	Aug. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering program, maximum value		$ 150
Issuance of common stock under public offering, net of issuance costs (in shares)			8,483,104	202,705	14,711,770	2,007,932
Consideration received on transaction			$ 42.2	$ 2.4	$ 66.4	$ 27.1
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consideration received on transaction	$ 0.6

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 30,000	$ 86,000	$ 170,000	$ 373,000
Employee retention credit, CARES Act	0		3,000,000
Proceeds from employee retention credit, CARES Act	$ 0		$ 0