In the first nine months of 2018, Sangamo Therapeutics’ (SGMO) net revenues grew ~145% to reach $57.6 million from $23.5 million. In this period, Sangamo Therapeutics generated revenues of $57.3 million from collaborations and $237,000 from research grants.
In the third quarter, the company reported net revenues of $23.6 million, reflecting ~99% YoY growth. In the third quarter, the company reported collaboration revenues of $23.5 million and revenues from research grants of $24,000.
Wall Street analysts estimate that Sangamo Therapeutics will generate revenues of $22.43 million in the fourth quarter of 2018. Analysts also estimate that the company is expected to report net revenues of around $79.8 million in fiscal 2018.
The revenue growth of Sangamo Therapeutics could boost the Invesco Dynamic Biotechnology & Genome ETF (PBE). Sangamo Therapeutics makes up about ~2.58% of PBE’s total portfolio holding.
In the third quarter, Crispr Therapeutics (CRSP) and bluebird bio (BLUE), Sangamo Therapeutics’ peers in the biopharmaceuticals market, generated revenues of $0.56 million and $11.53 million, reflecting a ~76% YoY decline and ~49.5% YoY growth.
Wall Street analysts estimate that Crispr Therapeutics and bluebird bio will generate revenues of $5.6 million and $43.20 million, respectively, in fiscal 2018.
Sangamo acquired Txcell
In December 2018, Sangamo Therapeutics completed the acquisition of TxCell. TxCell is no longer listed in French stock markets. TxCell’s leading product is CAR-Treg, an investigational product candidate that can be utilized for a solid organ transplant. Sangamo Therapeutics anticipates submitting a clinical trial authorization application in Europe in 2019.