SGMO - Earnings call 3 2023 | Sangamo Therapeutics, Inc.

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Operator

Good morning, and thank you for standing by. Welcome to the Sangamo Third Quarter 2023 Teleconference Call. [Operator Instructions] Please be advised that today's conference is being recorded.I would now like to turn the conference over to your speaker today, Louise Wilkie, Vice President of Investor Relations and Corporate Communications. Please go ahead.

Louise Wilkie

Thank you. morning. Good Sangamo's Investor Wilkie, Communications. and President Vice Louise Relations of Corporate I'm you the on joining today. Thank us call for On this Officer; Medical team, Officer; Chief including Operating call Development executive Prathyusha Amy Sandy Sangamo are Officer; Lisa Research; Macrae, several Pooler, members Officer; Head Chief Nathalie Chief and Officer. Executive Duraibabu, Mark of Chief of McClung, Financial the Dubois-Stringfellow, leadership Chief Rojkjaer, and presentation sangamo.com, section corporate our expectations. can page.This Events under of Investors from on current website, be forward-looking Slides our includes Media the & the Sangamo's statements Presentations call found regarding financial These our guidance to strategic our and and feedback and statements of data, our the candidates, include, of submissions, sufficiency but resources our time seek plans our runway and related timing anticipated cash additional product and updates, the reprioritization to of expenses, the catalysts that of from are potential preclinical of plans clinic, presenting clinical regulatory initiating and and not clinical Sangamo limited today. of thereof, programs collaborators to, dosing and resources, milestones the estimates for for conducting of upcoming benefits agencies, differ anticipated the statements statements and product facts.Actual relating XXXX lines are advancements what and and operating other anticipated results historical regulatory reallocation discuss we therapeutic capital with XXXX and not trials, interactions the screening may estimated candidates, from our materially and the advancement to of patients commercial and XX-Q annual on supplemented XX, the filed ended the filings quarter the September fiscal the yesterday XXXX, annual are to Form discussed with Form statements our XX-K ended for by report uncertainties December our report and for -- SEC. on specifically subject that on quarterly as are These form SEC, XX, our XXXX, with certain risks year in such to undertake information by law.On and are our forward-looking this as The except date, discuss duty call, statements of required made no expenses. this we update we stated today operating as non-GAAP operating our measure be to to CEO, website.Now which this over in I'd can expenses is our found call Reconciliation Macrae. the release, our of to turn GAAP Sandy available on like our press

Alexander Macrae

everyone has impressive of Louise, so technology. scientific discoveries call. with and and to good a leading the transforming first medicines. so to joining scientific long to a Sangamo innovation, lead patients' team history I company morning our honored Thank to and expertise our industry a of for genomic with mission such deep am you, dedicated life new

the technology which proprietary our or apply are maximize we developing we traditional programs our focus technology, that and where refreshed to and can best-in-class. environment results, genomic we we delivering to into on liver-directed our to company with be several began delivering and remain believe therapy editing been either within first-in-class continued ago away aims operating to today. are and our which from promising new years potential the both XXXX, has gene decision While That areas to transition has likely strategy, is shared challenging.In of

areas our our identify the across being we market have to can those and leaders to the resources industry where been has we accelerated capital experienced prioritize The focus accordingly. renewed Our pace accessing in programs of believe difficulties to be plans.

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Amy Pooler

Thank you, and good morning, Sandy, everyone.

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around our updates all The generated Financial because of we available could us a we of Some components Officer, capsid which high-value was quarters.I to alpha-synuclein, an overview and at medicine, the targets have focused neurology makes upcoming look we space, financials. to in include turn engineering deprioritized in the advance company, ability and in this confident Prathyusha, be potential the strategy technology the that building which I we will has for not over genomic Chief time.Sangamo Prathyusha? medicines. the of now and the providing are solely developing data call leaders to our forward tau

Prathyusha Duraibabu

Thank morning. you, Amy, and good

preserve a challenging line of position This our proactively we our peers assets. spending Over have has mission of with the now, tough and over resources years and to find been as of limited valuable acceleration decisions have path biotech the most course similar strategy XXXX, we necessitated X genomic ourselves navigate difficult company. made The for in neurology-focused the markets to to in and our a public ahead. of a medicine capital focus execution with our many

means expect streamlining for to in our exit Furthermore, our As as optimizing of part Tregs. spend, California seeking XXXX. Sandy in facility investment this earlier, alternatives we early our Fabry our resources and efforts and outlined Brisbane, continuing

$XXX to manufacturing reduction or back resulting from reduction, other annual neurology to XX% in annual our reduce reductions this scaling leveraging our decrease approximately We is any expected a believe XX% $XXX from workforce cost -- expenses be operating fund and and The will in million internal Phase we operating in XXX non-GAAP of and the sufficient the neurology $XXX for to that U.S. ended have reductions annual in around will million our combined savings roles year million year-over-year. XXXX, the of disease cost external capital securities. approximately of $XXX to manufacture the $XXX factoring potential million pipeline.These supply million to with without our planned these savings approximately We to other third actions clinical third a workforce. XXXX our partners capabilities quarter with could capital the potential for these unlock data expected of additional the our to available Fabry restructuring regulation epigenetic raises.We continue cost cost programs, to pipeline. marketable accumulate operations generate resources which solutions within be I/II combinations the with cash, seek into quarter important value We from TXXXX, and in resulted valuable cash while in equivalents

we to few raise Additionally, update capital in to evaluate next avenues continue several and hope to the have an months.

As as A our range in are transition to $XX potential pivotal for XX% expect the additional $XX in half be early for and million. the hemophilia approximately a readout be decrease significant core towards as end submissions a of $XXX starting of in mid-XXXX years. XXXX excludes of and the to company This a of our reminder, transformation, continues This work next potential of complete neurology year. $XX royalties, to Pfizer BLA in which in source the as million future funds which in million next costs to strategic million operating could partnership year.We we expected up $XXX to to expenses significantly range million XXXX second to anticipate MAA agreement a XX% collaboration in milestones allows our of and the

for Sandy provide will part non-GAAP turn closing update.I remarks. fourth XXXX as We guidance of the quarter back expense our to will operating official call now

Alexander Macrae

Prathyusha. Thank you,

and becoming This backdrop, progress continues make medicine in a to As Sangamo since from neurology today, turn company. you've incredibly Fabry value and our for to In needed unlock genomic programs been has pipeline. drive coming to development. diligently in our neurology-focused to our transformation decisions forward our advance challenging months, a XXXX. employees have will to and our we work the hard programs back CAR-Treg continue heard we Against to

do We those when individuals. updates these appropriate again on to to provide so.Thank talented you very processes will

for am that will colleagues wish organization, Sangamo the the grateful, best very your very be I'm the support leaving Sangamo, helped and chapters.As I look these to that, ahead. in have the dedication and to to lie Now science tireless excited friends opportunities I and about and I next your efforts who future, you and progress

and We continues will our sharing initiated progressively programs in identifying submission nonhuman IND and our showing data progressing for towards progress final share more IND-enabling next studies generate is delivery capsids novel neurology use anticipate year. from NavX.X, an The more primate preclinical so and data expected XXXX. team new data to early and has

still work this pivotal as thankful we'd readout focused hemophilia year.As Operator, line the mid-'XX, we open their milestone colleagues for as We coming with genomic an our hope our for open to that expressing first for hard my future, to medicine and time, next and additional neurology dedicated by my A I'd are I very anticipating to months. update a early team questions. to to like it dedication please as like for all the we for potentially announce the Sangamo and -- mission. am Sangamo in company.At up raise the excitement the in valuable close for hope coming a questions. future lies capital, work to ahead leadership and

Operator

Patel RBC Capital with first Reena from [Operator question Instructions] comes Markets. The

Reena Patel

would partner through us able is what Luca be wanted be for I for would of walk you ask, and program just on kind Issi. the partnership? Reena to Fabry This ideal an to ideal structure

Alexander Macrae

a [ does look partner ] you've like of spent for lot Fabry? an time asking you're on working So Mark, ideal what this.

Reena Patel

partner. ideal Yeah,

D. McClung

agreed updates And to to the a ensure that that conversations agency fit in the I that provide patients completed sees gets we've and would that commercialized study with partner are pathway number resources think and commitment that, with these has Fabry from we'll there the of a our and we capital to the globally finish be companies patients. with a timely manner disease someone So the them. that has the that standpoint, when

Operator

Wedbush. next question Andreas The with from Argyrides comes

Andreas Argyrides

kind here one. the of us to last X from and follow-up a

then any of a capital that runway. on constraints design, understanding an updates? need you the Fabry to good color with date. us also regulatory were cash the update selling if any there's Biogen as and Phase their just most would be to noticed agencies provide that helpful you III extend the that, know around So And the you the has there Can is I program, add in been the data and well. were shares, if majority there. discussions that we probably could advanced

Alexander Macrae

XX me let And literally us of to came and better. the I I'm help life holistic inside by I've any just and It's a your has up meeting one and what want as gene think Fabry at is with doing most, are the company why, that's one, us thinking So said, My script, III. patient. take can the that of globally going Fabry, important.Nathalie, benefit the this the patients we felt to results III the in about says, from never I I in the think, have about to me, finding about been to I transformed design recent said And clinical into Phase Phase compelling Fabry of in a most years. Nathalie the do program ask are, Mark that. so Phase III? retrieve the the on worked first I've how

Nathalie Dubois-Stringfellow

pseudo-naive from proposed share we study agency the we were yes, design. our on the naive to received last pleased clarity and quarter So

III with the FDA the plan future. have are conversation be in We continue really good and Phase potential can a place on productive that to activated

but medicine We patient data the designation need Fabry also this have which life FDA, its been really U.S. has -- the potential is a recognition to that encouraging. also those highly unmet produced far the with recently significant received really so opportunity conversation RMAT population, provide the And signal RMAT address that for the from FDA. designation

our to pleased position for program. partner very Phase will that III potential very we're we any be in a start So good

Alexander Macrae

And you shares? comment on Prathyusha, can the

Prathyusha Duraibabu

Sandy. Sure,

Your on the question Biogen sale.

like not It's Biogen's patients. to know, getting the other main in companies. us business holding you is business As equity of medicines with really

So there any under is -- point. this not XX% intention the this our of main was we're understanding sale to future their at threshold. sales And expecting get

Operator

The from Jefferies. with question next Maury comes Raycroft

Kevin Strang

for Maury. Strang This on is Kevin

FDA. sort -- the Fabry off of you I wanted Just to over on Phase switch to you already talks left with where with CAR-Treg. the But wanted to touched III,

show not can Is say into potential can what Tregs you're Cohort or dose talk data of then saw a by X getting data efficacious you originally at expansion went commentary earlier presence can far. looked program, of basically to that safety because the you evidence decision For end about share the that biopsy your renal than to And you not then so on any you or any thought? or you and whether of the year? of

Alexander Macrae

managed And agree we And in renal And much I'm by an cohort 'XX running data patients that then the those dribbling combat patients are dose that next we'll the top SMC quicker to as can share then it showing have with Therefore, the dose we delaying easier. from sure a [ out than year year. the and study a in way will Originally, team, package driving of patients. bring clinical in on study design design, per as and they've of another cohort. rather with transplant with lot you why early your will X you're clinical design with out a the into this makes was ] that was have cohort X we the really job and spot top of next novel a complication data. our January

dosed far, what cohort we've Nathalie, well, and X to X they're so patients doing X we've aren't Cohort seen they? in patient X.And extremely in As

Nathalie Dubois-Stringfellow

demonstrated product Yes. for The safety X has been those cohorts. of the

added than in X. have dose dose that fourth new to addition, a the a cohort a which XX-fold is in is also, Cohort design, higher We

for manufacturing demonstrates it our excited platform. very also Treg we're and So about the this, capability

Alexander Macrae

we're until we're levels, larger those far. you patients. really, for all And all showing group what we if year, seen -- next we've hold data so most and of off be to would show a be encouraged But very compelling would to careful save what the

to So next doing we forward look that year.

Operator

The with next question Germino comes from Nicole Truist.

Unknown Analyst

This pharma your is BD Nishant your I'm ] which on [ and of interest? [ a this you efforts Is you're focusing -- regulation talk neurological greater bit for And on about it? on that epigenetic ]. therapies, little are focusing Nicole. on now an focusing is disease capsids. why novel area focus Maybe

Alexander Macrae

over to is Amy, particularly regulation. this in to going form to why I'm our a So say good pass moment of Neuro for

journey Amy, us zinc a this said, an that Neurological difference. years. a make particularly our and work long-standing -- for Our we this And field? And to decision X to diseases do feel chosen enormous fingers fits it's this as been why in we've internally allows very on is burden the are one. represses with society. I technologies well

Amy Pooler

and neurological approach to those challenging believe in in that indications, gene down-regulated specifically of gives these specifically the match really us diseases disease opportunity precisely an gives We neurological Yes. brain a and genes to expression it using diseases. zinc the or fingers being treat up-regulated new able are involved that opportunity to regulate unprecedented the the really to

another the to in -- addition, they so fingers vessel delivery In not the are of AAV will the modifying the areas easily the design us cargo, biggest And or delivery to system that small, bring very have where that but the gives only the capsids. because areas chance to them disease they into zinc can design the brain progression. the nervous impact the of package

that things cargo make capsids to regions, fingers neurological those plus really impact will these these together, think the zinc transformative the we brain diseases. the a specific So into deliver are able of to

Alexander Macrae

Amy, others or often be they done? that ASOs and once inject to inject ours why are will have using intrathecally,

Amy Pooler

does brain It case, the cells neurons That's the fingers the believe and we are showing we of differentiated. patient. look that usually the that right. we But in it other we what means zinc be Because durable mean that clinic. This to is be will expression and the predict of a the unless forward one-and-done will have approach. lifetime terminally

Operator

H.C. The next with Patrick Wainwright. comes from question Trucchio

Unknown Analyst

Patrick. Parkinson's that for about have on like and tau This Luis programs I'd alpha-synuclein. to with newer for with is you going ] ask the Alzheimer's just [ still

-- you announced have brain with have you increased said You previously, you've penetration capsids. the

we're to now. going When you're programs data going prioritize them? these from So to more see

Alexander Macrae

talk [ with tau, been on interesting Amy, recently you that's hasn't can data learned because we about to where ]? are

Amy Pooler

mean I we're ways. Yes, quite with that partnership, program previous long able a absolutely. progress to our

forward which that models. capsid really been preclinical system. would of a pairing zinc look our clinical in has the barrier tau future, show able to And our across enable lead have finger, the We we some that repression potentially delivery brains potent to nervous blood-brain of with in specific and

Alexander Macrae

shown of target. reasons us gives tau believe to in as results have in a those the this And

Amy Pooler

coming out that in pathology of remove really It's absolutely. reduction or to field tau able that's now specific Yes, of tau. some the related showing was some been the of data to fantastic that's the neurofibrillary some tangles

disease So evidence but also something think treating other critical disease, [ gives could ]. that, we even that for like that approach tau-targeted be a Alzheimer's tau more

Operator

question The Yanan Securities. comes Zhu from with Wells Fargo next Instructions] [Operator

Unknown Analyst

This is [indiscernible] on for Yanan.

question X immunosuppressant any response dose TXXXX. first on for? partners So what and And wonder potential the cohorts, I but it's even wonder -- looking might any though are I like have only you seen if be tapering?

Alexander Macrae

that question. dosed parts were and Cohort X X in there's X, So patient only to dosed. they only We've recently

started it if know of to have would benefit tapering. process be not possible there's So any nor this any

it's more As you are to rich show to for, partners looking I companies. the set going be so said, whole there many year.What next much data our that package CAR-Treg

the shown patients one is only in founded thing really said the all over it only XX And on and can is is safe, And field that we're they've that field. preclinical count and the X I them. for I the that we like been of funded -- and a we've fact CAR-Tregs dose we're And whole promise. patient the important I Sangamo with think, clinic. think here, is the publicly

engineered Cohort the regulatory go from put Cohort patients. XX-fold. X, time T it into and to first We has and The increases cell X been

we sales add, So of year. and of range data showing to we a that next look great to you amount forward have

Unknown Analyst

year can Got to it. the are hoping show in to what And assuming you or the achieve share be capsid, NHP would that next on data? AAV you in first quarter

Alexander Macrae

in people And does what good for look NHPs? like? do look what Amy,

Amy Pooler

brain to really preclinical how I'm because That in progressed will using targeting. we at excited these essential the of of critical broadly looking across delivering to have for about that up group. We're brain solving diseases work the able work the goes to forward that I by why we're and genomic our being capsids to And create in the work that also that that outstanding we're so all about we but delivery that capsids right we're into challenges effort capsid evolution that really that really. is medicines. the work allow These thrown neurological that will for place our engineer has and before capsid and about models we're regions the us, to to able try us medicines system cargo in to able kind do are medicines about the together these looking into so into involved that that's that that this more I'm sharing know the brain And really zinc so company We're understand, platform patients. bringing that this the talked nervous engineering finger deliver to it's unique that deliver early finger the zinc but definitely year. excited are are components. are the next those the

Alexander Macrae

areas So look activity consistency what zinc good are about relevant. it's like. finger, That's the in the about of about expression the it's the It's throughout and that brain. of will capsid clinically

Amy Pooler

Absolutely. Yes, absolutely.

Unknown Analyst

from Got it. me. one And last

monetizing on royalty? Hemo the program, on of the A potential any So the comments

Alexander Macrae

monetization doing financing So we don't Pfizer or But we that here, good can't really job a efforts. on really comment they? feel any Nathalie,

Nathalie Dubois-Stringfellow

really, been the in Yes. All the has Pfizer And is readout a in patients the a and the pivotal submission half guiding dosed. of to and still second of expected mid-XXXX in pivotal trial XXXX. MAA BLA

this efficiently into you the be know, As whole Pfizer, as all to -- workforce big and to advance A able area hemophilia very market. a a for the have they is and

and the our regular have with encouraged, very call we're colleague Pfizer momentum So palpable. we is and

Alexander Macrae

want them. all every are signal Pfizer positive Pfizer, that program important for you giving more hear us know this about to they it. I an is believe

the royalties, more the valuable. be us of be directly would it are the the wait can even value we monetization royalties it rate. The and now As extremely results before the to an to longer would and it regards we monetize the better out, way will it monetizing the to keeping if going all be before milestones more coming it discounted

have to as finance company. I Prathyusha that and make it's a decision we the And so just

Operator

no time. closing would I Louise further like to turn to at for remarks. this call I questions the show back Wilkie now

Louise Wilkie

you. today joining again, for everyone us your questions. to for Thank And thanks once and

developments. Relations the updated the on presentation reminder, on Sangamo release can future As of forward you a look the keeping section We Investor our to earnings you and access website.

Operator

This concludes call. today's for you conference Thank participating.

may disconnect. You now

Sangamo Therapeutics (SGMO) 2 Nov 232023 Q3 Earnings call transcript