SGMO - Earnings call transcript Q2 2021 | Sangamo Therapeutics, Inc.

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Operator

Good day, everyone and thank you for standing by and welcome to the Sangamo Second Quarter Of 2021 Teleconference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, the Head of the Corporate Communications, Ms. Aron Feingold, please go ahead.

Aron Feingold

you us thank and afternoon for today. joining Good Business this several team slides on presentation Officer; website. members me McClung, Sandy this Head the Jason Officer, are Development on afternoon Chief Mark Officer, Officer; be leadership can our With Buttno, of Chief Chief Rob Medical call Sangamo corporate and Chief found Bettina Executive from Prathyusha Chief Scientific our Officer; Duraibabu, Macrae, Schott, Financial including of executive Cockroft, Media on the and Presentations Investors and the page. under sangamo.com section Events call forward-looking statements value of limited relating This includes current advancement statements expectations pipeline. potential include to, regarding these to drivers Sangamo's and preclinical not clinical catalysts but are our statements our for clinical other expectations and conducting our facts. timelines and clinical regarding trials our and financial data, are of that enrolling and financial data resources XXXX our cash performance guidance, presenting Plans historical outcome, not sufficiency statements and potential clinical may what differ we Actual from today. discuss materially results discussed uncertainties fiscal subject are on for statements These ended the our the report annual supplemented our ended on fiscal for SEC, XX, December Form June quarterly are to filings XX-Q Form report XX-K by year year risks and with the as specifically XX,XXXX quarter that XXXX. in certain our today of to we undertake update The are no made forward-looking law. this statements duty required as such stated as date by and information, except non-GAAP our expenses. operating discuss we call this On today's press is measure our can which to found GAAP release this of in on expenses Reconciliation our operating available website. be

the Now, call to Macrae. Sandy I'd over like to our turn CEO,

Sandy Macrae

This at on to good an is exciting afternoon Sangamo. and you call. everyone Thank time the

same drivers. several preclinical drivers. quarters, engineering value for clinical advancing multiple to value over genome towards focuses [indiscernible] time, for diseases and representing the on diseases pipeline, is differentiated the we INDs near-term potential promising our CAR-Treg are autoimmune forward next CNS the mid-term our At potential look we approach As catalysts

our zinc that Beyond further finger mine invest from to in continue research value core to we platform. early-stage

our on two Phase steady wholly one owned Fabry make clinical to progress study. continue We disease

from the part to escalating During the and monitoring patient data protocol. safety of patients dosed the as initial safety third dose study the do we date dose endorsed quarter, fourth to the based on committee

expected We the two by are the this year. first cohort in patients the and currently patients cohort, the third end third towards dose for of screening

We will study to will publicly on on make a when initial when present from decision plans available. our and timelines data we announce this clinical depending

In plan and We're about of end currently this the the sites the this study pharmacology evaluating this excited have transplant kidney proof addition, at understand We in we CAR-Treg biology patient and help is very in rejection year. three to TXXXX and what us humans. study. we concept believe open inhuman we will CAR-Treg board first first study of believe

two Phase out years product highly additional from be a owned hemophilia three patients as high this and of year, from a wholly to two in ultra these cohort foundation dose of informative through therapies expect establishes look one patients well development In from durability from of the potential we portfolio we hope for phase data We expect study the will having ultra CAR-Treg XXXX. well about understanding as A. clear Pfizer advance knowledge. Phase a one results present fourth to the the from two autoimmune quarter study, read this data to We profile. year and indications. study As in Together, forward five process for as the two the in the

for medical of is partner to we and year, the one this investigating disease. study meeting. at sickle share study treatment one of PRECISION initial our each SARXXXXXX addition, Sanofi from data Phase upcoming two In expect our an cell The

least interim report patients three four the first safety with those the to data, follow-up. efficacy and expect months We of

neurological disease the we fourth a addressing collaboration begun agreement therapies research Biogen gene selected this have activities target. Finally, and target on early under recently

decision in out the quarter, Gary made Loeb future. be to wish Counsel signed well his him General for our thank another former This personal him opportunity. and We

However, that of contributed to he and Scott today all SEC to announce have compliance compliance, Counsel Scott corporate matters Secretary. mergers law corporate with Sangamo and has we to and acquisitions Corporate Willoughby reporting, experience expertise XX Scott over pleased significantly governance, promoted March in corporate and we are has us joined in overseeing since General years XXXX. finance legal transactions.

served officer Scott's financial operations a operational strategy appointment It years, within update. with our track Accounting driving forward diverse has will for that, change and from to pleasing and optimizing wealth team financial executive Prathyusha a was appointment, Financial record I experience and so two by Duraibabu. individuals she organizational teams. call strengthened over new our of look contributed Scott as has talented recent to addition building and of to for her the the Principal and nearly I in Prathyusha's In Sangamo's with Prathyusha Prathyusha And proven Chief to Officer, leadership. turn promote significantly

Prathyusha Duraibabu

pleasure Thank I Sangamo's been to continued we forward as It months all to and look progress my afternoon. Chief you past Financial of and as good you two Officer serve our business has Sandy, for interactions the forward. with

this available be the quarter can this on for results press website. which found issued in afternoon, financial our Our release

A for will believe balance important that our our candidate. submission clinical the our securities. programs, we expanding equivalents to allow and potential invest milestones continue research marketable R&D approximately capabilities. to cash, and cash manufacturing with and our in sheet the us quarter hemophilia million of in-house $XXX a pipeline We preclinical including the quarter, our several This reach strong advancement product remains We in of BLA ended

compensation to million range to $XXX prior guidance year the to call, operating reiterate in the continue stock-based expect of provided XXXX non-cash estimated which in expense our approximately guidance; of non-GAAP be $XXX for we would full Turning $XX we to like we the exclude million to year. million expenses,

the open operator to to the it line operator. over questions, turn now will for We

Operator

Maury [Operator Raycroft you. is ahead. Thank our Jefferies. go Please question Instructions] of And from first

Unidentified Analyst

this is my for Kevin on the [ph] line thank questions. you Maury, for today, Hi, taking

use discussed of use Fox investors TX for when the disclosures, what space, CAR-Treg is focused be vX the prior doing. on should to and on, TXXXX So with appreciate Sangamo's technical think it's were are versus TXXXX, and in of there there of what side I some number trying forward a approach moving competitor lentivirus cell are competitors differentiation from

Sandy Macrae

for you Thank your question.

Chief Jason, think I answered be one our that this Officer, is Jason best would by Scientific

Jason Fontenot

only platform for over partnership the as the Yes. last TxCell our Sangamo Sandy, group the the biology Sangamo, we've of with together has engineering well started built you the expertise like disease. over brought as Thank so acquisition matured that sclerosis continued inflammatory genomic Treg bowel work TxCell are that that to with push with has grown in extraordinary programs our CTxCell years advancing and forward and that multiple as and we behind years TXXXX program that

from finger our we invested in moving genomic to internal autologous and cell and our engineering are that platform the to therapies addition partnership iPSCs. work very with allogeneic Mogrify through In through our an therapies of cell zinc use on

real we've potential entrants autoimmune we about the excited the breadth super Sangamo is for into really have disease. is simply the expertise invested new and what programs the these time treatment and doing So of that what are that the field and the and of to differentiator here transform between we're me the

Unidentified Analyst

the thanks. on then AV And side. Great, just

programs. AV Sangamo discussion be been new on immune on can considering So are there innovator an talk has neuro the side and there, developments safety awaiting with AVs that your system about particularly used can the AV with any you when that

Sandy Macrae

that too. for you thank So, question

We with continue to invest about Jason's in within AV as organizations this CNS. use the We spoke about a it looking GCT year we'll are at that evolves. the data group and optimizing the at talk

fingers of opinion for this that genomic hand delivery to to smart have sharing more we the and we forward data it the look molecular in and biology scientists come. hand We engineering, is important the some the in are of with months goes very doing so zinc

Unidentified Analyst

Great. taking questions. Thanks for my

Operator

question please go Fargo And of Wells Securities, next our Yanan from is ahead. Zhu

Yanan Zhu

my taking for questions. thanks Hi,

move dose you And study. you two have in level what feel what to determination has a the lastly, enough disease make data point a order of a do wondering that you enroll guess each you into how on Fabry follow-up Thank to for would expansion dose of question I many only So, points patients you in patients determine and to data those think data also attention you the dose dose and expansion a to do expansion you program, pay require to would point the make kind call. would I'm the or for into you.

Sandy Macrae

important clinical add start passionate we're is that this can in and let's then about so and you a Mark Thank I a but Mark. with study point, turn get Rob to questions to from very

Mark McClung

of tolerability. lot the are A primary the probably aware, I study star as mean, thanks Yes, to your question. so for you of endpoint questions related is and safety these are trial.

Rob. over and where pharmacodynamics dosing A endpoints what progress in are The of the ERT Rob, cohort, Gal cohorts with substrates do answer in hand into to the it presence we're of expansion to at questions eventual is administration, maybe the over I'll impact as as of specific time secondary the on well terms plasma the will and ALPHA how the on we the

Rob Schott

very Yes, thank you good question.

requirements to most we timelines but be cohort. to in DMS that cohort, of the year Board at along Data MST the with cohort highest that, not to the and the respect have your has we We the specifics cohort. our data two are that question Monitoring basically important dose But that dose, the appropriate. have disclosing is these that has and patients met of announced dose DMSP fill requirements additional unanimously Safety dose moving moving next for the to the plans clinical cohort us the piece approved independent and to that our to again, proceed the so to sharing safety point to information the this and are the be in endorsed sharing allow We're the we'll we're third this

Yanan Zhu

Thanks for Got got Okay, it. the color. it.

Operator

America. is question from go Bank next Meacham. Please our Geoff And ahead. of

Aspen Mori

for Aspen it's guys, the for taking Hey on Geoff. Thanks questions.

of for a you escalation the to part up or looking of sense yes, you. was the the efficacy, you're last escalation guess levels can were that dose we're is, question, follow the three obviously lower gal I level is to of see. to the plan always going the Thank at some dose based just and address other programs, in driver gene know primary in looking kind here get some doses levels trials is levels and the different know the of is I'm if that it of seeing what on alpha this I a kind trying So you Yes. on dose companies dose the dose in adequate Fabry, us play past, higher therapy remind of for other on

Sandy Macrae

know of So, I me so you frustrating X have not cohorts. going we're we other this say revealed let for this cycles and all must this than in dose be the

for dose see not knowing in deal the for human something the hope of versus [indiscernible] we of is We are it's those kind a to have benefit gives grateful a prudent it's first for taking of patients patient always ever both at starting the hemophilia coming some until great immensely we A appropriate study to results going first learned the time patient that are levels the and been that and any them. dose from and that benefit being about that

So to describe doses effect dose and we hope to be have doses. the able we're across the to X X going

Aspen Mori

follow-up. quick one just maybe And thanks. Okay,

in us are, if the FDA's at your listening September help that for involved all that expectations AAV in be So think I what you'll outcome maybe and frame meeting. early just

Sandy Macrae

things We with of patients so will our those have in staff has and of to efficacy agency looking virtually the knowledge person forward or fees meeting has the attending AAV. store the to and the group meeting. that I across that the company AAV and And agency the so of few on safety forward Each looking I'm many programs. be of a hearing greatest

protected can So as possible. learn be the patients much and as as all can we

Rob Schott

Sandy. Thanks, great. Okay,

Operator

next Gena Wang our from ahead. Barclays. And go is of question Please

Gena Wang

about Fabry for wanted are level, a the below looking first if XX% as ERT more to My kind even you. of and dose quantitative talking regarding ask answer a little a bit for question on are the can the we what right reduction or GbX Lyso was give program disease exactly define to just you example over level. what follow-up Thank volumes

is this question. the first So

Second program. question A a is hemophilia

do decline than Just effect for will had wondering follow-up FTE one X-year if A ask year some level for Phase the you X expect longer study.

Sandy Macrae

Gena. afternoon, Good

what so are communication me regulatory that interactions pleased the I on I is us helping those for I do been let The looked discuss conversations. and great want determine to know answer So in will reverse affiliates and looking and those success. questions job that order. am handling has Pfizer regulatory our Pfizer with and after that Mark they the join the a we're to baby

Mark McClung

data. the to see we're of that for you derivative to on might when the and which a of as for to, the GbX Apologies, Sandy year first hopefully results an see, seeing moving we'll we're start we've terms is expression into end then four the expecting of not whether is enzyme not you soluble accumulation and by we've we, goal dosed some terrific that update Lyso predictable mentioned that screening of of cohort the have third commented Sorry. in for the down, to substrates and dose the of alpha it's in the Gal patients, the look go program durable amounts GbX A or

Gena Wang

just understand determine your two data, sorry, dose. wondering the about what cohort that's talk to wondering, cannot goal but you first I right just the okay, I'm is

Sandy Macrae

a because substrate reduction on for decline commented I Gena, that, see the our not seems of obviously but is to is that patients. important other the substrate the fairly has We've commented that or in on percent the Bio companies we've, to improvement linked which that to want I EPRO done know really you'd of significant reduction. have some belief in EGFR, the the mean

Gena Wang

Thank fair. you. that's Okay,

Sandy Macrae

the GbX of reduction would Bio get effective, But ERT GbX you a and to that and caution start, you have level depend, note shows a Bio high GbX to is of your an a of is already you yield it of will GbX compound recruited. they reduction, a strike your data. the Lyso due at want where that Gena, dramatic life if Lyso I The if do artifact interpret depend issue the will a low so EPRA is addition, EPRA reduction, level patient in graph

Gena Wang

thank Okay, you.

Operator

Ritu from Cowen. Please is ahead. go question next our And Baral of

Ritu Baral

Hi safety want can findings, just you guys, guess date tell been just this with and reading safety can AV is up and something I I competitive if learned be us programs ask cohorts have date, this also the follow not a to in for and and investigation what or standard the have program just out in of tell the liver Fabry you population that to complement signals, worth the about the patients but issues I the Fabry various is preclinical, unique could given on cardiac programs is shown I or has to about the what something safety observed to and then again, it follow-up.

Sandy Macrae

very dosed response virus them programs answer these of AOT, So, and occasional - that safe, AVX safety remarkably than because we of other the across the with or encouraging. it's response let tangentially, giving viruses immune is have and is remarkable a number allergy slightly much how are the me considering occasional we're

have safety could have us determine given not then some carry do our and allows committee we that line to not, all overviews cancel the could or we and on then that cardiac their is I a thing of or that have free the had clear advance, imagine DSMB a has safety whether second monitoring safety very judge that unanimous DSMB response DSMB. The on. from ourselves, but they events

Ritu Baral

update, then And CapEx build helpful. just should manufacturing because thinking across out in be That is it. very allocation is how selling build Got featured for prominently about programs. the out the manufacturing we

Sandy Macrae

Prathyusha, your thoughts that. on

Prathyusha Duraibabu

across based on going six is build in they the that will months. programs it to next manufacturing we need different assess XX the to months and what Our be

Ritu Baral

okay. Got it,

Sandy Macrae

at it's if I AEV research by side and years track XX a what's are, and the, discussion I side other say slots, manufacturing, the is is months, but a the is, are is it quality no chance, our the clinical they completed the made. regulatory year. the companies, the manufacturing product two have and every most does matter the I'm feel end to manufacturing cell and have a there by between reason happened material with therapies product we group and manufacturing more ago manufacturing idea and importantly you with is it we so development, [indiscernible] best by I all do our important look who is of about store glad process we invested on was And know, the CMO group best the that they over to in and manufacturing, investment do so there you having they process year queue in manufacturing think and Brisbane of wise

Ritu Baral

triangulate And mentioned make program target, have slides with had sent relation undisclosed one in it. that you're to and the, on to I the you to then, Sandy, undisclosed in undisclosed an today, three. you the Got like were progress thinking collaboration, it's in, especially want should the into around want Biogen that comments Tauopathies sure I or of Biogen referring about with we just your the to that slide XX be target neurology specifically alpha progress Synuclein

Sandy Macrae

you that are Biogen? help and how now tangle in us the many can Jason, targets go on

Jason Fontenot

doing on progressing work the the fact is - We in thrilled think to have the sorry Biogen, Sangamo much in with now be these of support targets that. working we're confidence about the I reflection a has team that is how to of progressing, great see a like these all Biogen we partner are programs. it's that collaboration, to now targets that Biogen We four the, them have just team

it's when team. we've been certainly the forward more targets able we doing Biogen the to support publish to and appropriate, to the work about tell and the doing about that to, So everyone, looking really be we're that can I'm work when will

Sandy Macrae

we back you a with go very had on, before had, recently on Jay team. the we And mute, positive and back meeting Jason

Jason Fontenot

what Yes. really think ability use activators our of from Yet a to aspects in CNS of and the oppressors and way. in we're another of therapeutically a the is another transcriptional example view doing platform in of differentiated finger our cells and the example one relevant both to work zinc that functionality I point of transcriptional modify

forward advancing excited collaborations output we expertise as those of CNS those CNS of that of about in it's that kind both collaboration be the and on the building as programs, really to looking the in supporting and are area well. well we'll we're effort and talking also those both when we're So of about is some appropriate, internal the

Ritu Baral

it. Got

You've along Biogen got targets Tauopathies, two XXX correct. undisclosed with neurology and XXX with synuclein alpha

Sandy Macrae

Correct, correct.

Ritu Baral

it. you. Thank Got

Sandy Macrae

Welcome.

Operator

for the And Stifel. last ahead. final go from and Ben Please question of Burnett

Kellie Briza

for Hi, Burnett, this on taking Ben thanks question. our is Kellie for Briza

a have domain, if I the expansion We transplant well in you've how was and TXXXX do you to oncology. on question new as relative what is elaborate in it to around disclosed is wondering and if CAR setting could Thank co-stimulatory you as you. designed just expect what be connects the

Sandy Macrae

this. Jason, whatever haven't you can? Can we said guidance much on give you

Jason Fontenot

Yes.

the not where for we're field the oncology and learnings said, forward. oncology the T-regs sure leveraging experience not excited to there in T on team understanding that really are not and that then some T-reg without that ways to TxCell Sangamo to oncology bear say regulatory team construct paying optimal of be that in specific construct work been really that expand but that very the years on and things there have the ourselves the know being ourselves from different the and cells CAR, are what program to the all is programs doing obvious we were at this were the there that the work, needless if you the So we're deep in is and see bringing to work and it's we our TXXXX is understand patient, CAR-Treg off, that's we're disclosed optimal because since work been of is did and cell made but biology would advancing. the purify upon, CAR That infusing building really the I within to therapy to it the and are we that and advance move acquisition based what am the have over advancements have biology

Kellie Briza

for to details disclose would was I also if when this of you you. any Thank able you proof data concept be give expect study? to wondering

Sandy Macrae

have to but the, do data It's you the moment. Let me have it, that appropriate. help testing the certainly is as disclosed the available, as that with safety it's we're and we obviously which do Yes, soon thing will we'll haven't guidance. as we - we that we let me first happen haven't guided that that and is soon share at you when

Kellie Briza

Thank you.

Operator

to Thank point, this you, Corporate Aron turn everyone. like to And it the of Head Feingold, the would at over I Communications.

Aron Feingold

once forward Thank for keeping to joining and for future on updated you look you questions. again developments. our today us your We

Operator

conference And you call. your participation. today's this everyone for concludes Thank

you now may Thank You all so much. disconnect.

Sangamo Therapeutics (SGMO) 6 Aug 212021 Q2 Earnings call transcript