Brief: Sangamo Therapeutics Inc - Reducing Its Us Workforce By Approximately 27%, Or Approximately 120 Roles

Sangamo Therapeutics

26/04/2023 22:55

April 26 (Reuters) - Sangamo Therapeutics Inc  SGMO.O :
    * SANGAMO THERAPEUTICS INC - REDUCING ITS US WORKFORCE BY
APPROXIMATELY 27%, OR APPROXIMATELY 120 ROLES
    * SANGAMO THERAPEUTICS INC - EXPECTS TO SIGNIFICANTLY REDUCE
ITS
INTERNAL MANUFACTURING AND ALLOGENEIC RESEARCH FOOTPRINTS IN
CALIFORNIA
    * SANGAMO THERAPEUTICS INC - RESTRUCTURING, OTHER PLANNED
COST
REDUCTION INITIATIVES EXPECTED TO RESULT IN ANNUALIZED SAVINGS
OF ABOUT $31 MILLION
    * SANGAMO THERAPEUTICS INC - CASH, CASH EQUIVALENTS AND
MARKETABLE
SECURITIES AS OF MARCH 31 WERE $241.0 MILLION
    * SANGAMO THERAPEUTICS INC - EXPECTS TO INCUR ABOUT $5
MILLION -
$7 MILLION IN ONE-TIME RESTRUCTURING COSTS IN SECOND AND THIRD
QUARTERS OF 2023
    * SANGAMO THERAPEUTICS INC - ASSESSING WAYS TO FURTHER
REDUCE
ANNUAL OPERATING EXPENSES, CONSISTENT WITH PRIORITIZED
OBJECTIVES & PROGRESS OF CO
    * SANGAMO THERAPEUTICS- BELIEVES CASH, CASH EQUIVALENTS,
MARKETABLE SECURITIES AS OF MARCH 31 TO BE SUFFICIENT TO FUND
OPERATIONS FOR NEXT 12 MONTHS
    * SANGAMO THERAPEUTICS- REVENUES FOR Q1 ESTIMATED TO BE
ABOUT
$158.0 MILLION, COMPARED TO $28.2 MILLION FOR THE SAME PERIOD IN
2022
    * SANGAMO THERAPEUTICS INC - GAAP OPERATING EXPENSES,
ESTIMATED TO
BE IN THE RANGE OF ABOUT $315 MILLION TO $335 MILLION IN 2023
    * SANGAMO THERAPEUTICS INC - NON-GAAP OPERATING EXPENSES ARE
ESTIMATED TO BE IN THE RANGE OF ABOUT $240 MILLION TO $260
MILLION FOR 2023

Further company coverage:  SGMO.O 

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