SANGAMO THERAPEUTICS Reports Second Quarter Earnings Results for 2023 Fiscal Year
August 18, 2023
🌥️Earnings Overview
On August 8 2023, SANGAMO THERAPEUTICS ($NASDAQ:SGMO) released their second quarter earnings results for the 2023 fiscal year, ending June 30 2023. Revenue for the quarter totaled USD 6.8 million, a decrease of 76.7% from the same period the preceding year. Furthermore, the company reported a net income of USD -114.5 million, compared to a net loss of -43.2 million in the year prior.
Market Price
The stock opened at $1.2 and closed at $1.1, down by 2.6% from the previous closing price of $1.2. This came as a surprise for many investors as the company had a good performance in the previous quarter. Despite the lower earnings results, SANGAMO THERAPEUTICS noted that they are confident in their long-term strategy as they continue to focus on developing their new treatments and therapies for genetic disorders and cancer. The company also stated that they are making good progress on their Phase 3 clinical trials and other initiatives, which should lead to increased revenue and profits in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sangamo Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 218.48 | -198.5 | -42.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sangamo Therapeutics. More…
| Operations | Investing | Financing |
| -237.68 | 107.35 | 77.87 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sangamo Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 325.07 | 91.43 | 1.36 |
Key Ratios Snapshot
Some of the financial key ratios for Sangamo Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.2% | – | -48.5% |
| FCF Margin | ROE | ROA |
| -121.4% | -23.3% | -20.4% |
Analysis
GoodWhale is here to provide you with an analysis of SANGAMO THERAPEUTICS. After conducting a thorough analysis of the company’s financial and business aspects, we can confidently say that SANGAMO THERAPEUTICS is a medium risk investment. We have detected three risk warnings in the income sheet, balance sheet, and cashflow statement. But don’t worry, if you become a registered user of our platform, we can show you exactly what these risks are. In addition, we can also provide you with an in-depth analysis of the company’s competitive landscape, its performance metrics, and its overall financial health. All of this information is available to you right at your fingertips when you become a registered user of GoodWhale. We provide our users with the most up-to-date and reliable data to ensure the best possible investment decisions. We understand that the decision to invest in a company is a big one, and that’s why we take an extra step to make sure all of our users have access to the most accurate and relevant data. We hope you take advantage of all that GoodWhale has to offer and make the best possible decision when investing in SANGAMO THERAPEUTICS. More…
Peers
The competition between Sangamo Therapeutics Inc and its competitors, Biomarin Pharmaceutical Inc, 4D Molecular Therapeutics Inc, and Freeline Therapeutics Holdings PLC, is fierce. Each of the companies is striving to be the leader in the field of gene-editing, gene therapy, and cell therapy, and is working tirelessly to push the boundaries of these cutting-edge treatments.
– Biomarin Pharmaceutical Inc ($NASDAQ:BMRN)
Biomarin Pharmaceutical Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for patients with serious and life-threatening rare diseases. The company has a market cap of 16.93B as of 2023, which indicates that it is a large public company with a significant presence in the industry. Furthermore, it has a Return on Equity of 2.25%, which is indicative of its efficiency in utilizing shareholder funds to generate profit and increase value for the shareholders.
– 4D Molecular Therapeutics Inc ($NASDAQ:FDMT)
4D Molecular Therapeutics Inc is a clinical-stage biopharmaceutical company. It specializes in the discovery and development of gene therapies for rare genetic disorders, as well as associated precision diagnostics and biomarkers. As of 2023, 4D Molecular Therapeutics Inc has a market cap of 573.63M, indicating a significant level of investor interest in the company. The Return on Equity (ROE) for 4D Molecular Therapeutics Inc is -28.49%, which is considerably lower than the industry average. As a result, investors should carefully consider the potential risks associated with investing in the company before making any decisions.
– Freeline Therapeutics Holdings PLC ($NASDAQ:FRLN)
Freeline Therapeutics Holdings PLC is a biotechnology company dedicated to developing gene therapy treatments for serious and rare diseases. The company has a market cap of 28.39 million as of 2023, reflecting its relatively small size in the market. Freeline’s Return on Equity (ROE), which measures the company’s profitability relative to the shareholders’ investment, was -85.86%, implying that the company was generating losses for shareholders as of 2023. This likely reflects the high costs associated with researching and developing gene therapy treatments, combined with the long-term nature of the project and the time it takes to bring such treatments to market.
Summary
Sangamo Therapeutics, a biopharmaceutical firm, reported its second quarter financial results as of June 30, 2023 on August 8, 2023. Total revenue decreased by 76.7% to USD 6.8 million compared to the prior year. Net income was USD -114.5 million, a decrease from the net loss of -43.2 million reported in the prior year.
This may present an opportunity for investors to consider Sangamo Therapeutics as a potential investment. With a clear understanding of the risks and rewards associated with investing in this company, investors should conduct further research into its current performance, competitive landscape, and future prospects.
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