Sangamo BioSciences third quarter revenues fall

Biotech firm posts $8.7m net loss.

Sangamo BioSciences, a company focused on research and development of new DNA-binding proteins for therapeutic gene regulation and modification, has reported revenues of $2.94m for the third quarter ended 30 September 2010, compared to $4.06m for the same period in 2009.

Sangamo posted a net loss of $8.7m for the third quarter 2010, or $0.19 per diluted share, compared to net loss of $4.85m, or $0.12 per diluted share, for the comparable period in 2009.

Loss from operations was $8.72m, compared to $4.8m for the comparable period in 2009.

For the nine months ended 30 September 2010, Sangamo posted a revenue of $16.12m, compared to $11.95m for the year ago period.

For the nine months ended 30 September 2010, net loss was $16.53m, or $0.37 per diluted share, compared to net loss of $16.19m, or $0.39 per diluted share, for the year ago period.

Loss from operations was $16.6m, compared to $16.99m for the year ago period.

Based on early data from Sangamo's ongoing Phase 1 clinical trials of SB-728-T, the company will initiate a new clinical study of its zinc finger nuclease (ZFN)-based T-cell therapy in HIV-infected individuals who are not currently on antiretroviral drugs.

Michael J Fox Foundation for Parkinson's Research will award $895,000 to Sangamo over a period of two years, to support studies in non-human primates for the development of a ZFP Therapeutic to treat Parkinson's disease.