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THERAPEUTICS Sangamo Therapeutics Reports Recent Business Highlights and Second Quarter 2021 Financial Results August 5 , 2021 Conference Call and Webcast Scheduled for 4:30 p.m. Eastern Time BRISBANE , Calif .-- ( BUSINESS WIRE ) -- Aug . 5 , 2021-- Sangamo Therapeutics , Inc. ( Nasdaq : SGMO ) , a genomic medicine company , today reported recent business highlights and second quarter 2021 financial results . " This is an exciting time at Sangamo , as we look forward to multiple clinical catalysts over the next several quarters representing potential near - term value drivers , while we continue to advance our promising preclinical pipeline focused on the emerging areas of CAR - Tregs and transcriptional regulation , representing potential mid - term value drivers , " said Sandy Macrae , Chief Executive Officer of Sangamo . Recent Business Highlights • We dosed a fourth patient in our wholly - owned Phase 1/2 STAAR study evaluating ST - 920 gene therapy for Fabry disease , completing dosing of the second cohort . Based on initial safety data from patients dosed to date , the Safety Monitoring Committee recommended dose escalating to the third dose as planned under the study protocol . We are currently screening patients for the third dose cohort . • Biogen selected a fourth neurological disease gene target under our collaboration agreement , and we have begun early research activities on therapies addressing this target • We appointed Prathyusha Duraibabu as Chief Financial Officer and Scott Willoughby as General Counsel and Corporate Secretary . Second Quarter 2021 Financial Results Consolidated net loss attributable to Sangamo for the second quarter ended June 30 , 2021 was $ 47.2 million or $ 0.33 per share , compared to a net loss attributable to Sangamo of $ 35.9 million or $ 0.26 per share for the same period in 2020 . Revenues Revenues for the second quarter ended June 30 , 2021 were $ 27.9 million , compared to $ 21.6 million for the same period in 2020 . The increase of $ 6.3 million in revenues was primarily due to the recognition of upfront license fees and research revenue of $ 9.6 million under our collaboration agreement with Novartis and $ 2.6 million higher revenue related to our collaboration agreement with Biogen . These increases were partially offset by a decrease of $ 3.8 million in research revenue related to our giroctocogene fitelparvovec and C9ORF72 collaboration agreements with Pfizer , due to completion of our activities under these collaborations , a decrease of $ 1.1 million in research revenue related to our collaboration agreement with Kite , and a decrease of $ 0.9 million in research revenue related to our collaboration agreement with Sanofi . ( In millions ) GAAP and Non - GAAP operating expenses Three Months Ended June 30 , Six Months Ended June 30 , 2021 2020 2021 2020 Research and development General and administrative Total operating expenses Stock - based compensation expense Non - GAAP operating expenses $ $ 60.1 16.5 116.6 32.6 76.6 149.2 117.0 ( 9.5 ) ( 6.7 ) ( 17.1 ) ( 12.3 ) 67.1 $ 52.7 $ 132.1 $ 104.7 $ 41.5 17.9 59.4 $ $ 83.0 34.0 operating expenses on a GAAP basis for the second quarter ended June 30 , 2021 were $ 76.6 million compared to $ 59.4 million for the same period in 2020. Non - GAAP operating expenses , which exclude stock - based compensation expense , for the second quarter ended June 30 , 2021 were $ 67.1 million compared to $ 52.7 million for the same period in 2020 . The increase in total operating expenses on a GAAP basis was primarily driven by our higher clinical and manufacturing supply expenses along with our increased headcount to support the advancement of our clinical trials and our new collaborations . Cash , cash equivalents and marketable securities Cash , cash equivalents and marketable securities as of June 30 , 2021 were $ 578.9 million compared to $ 692.0 million as of December 31 , 2020 . Guidance for 2021 Reiterated ( initial guidance provided on February 24 , 2021 ) On a GAAP basis , we expect total operating expenses , including non - cash stock - based compensation expenses , to be in the range of approximately $ 285 million to $ 305 million for the year ended December 31 , 2021 .