Sangamo Therapeutics has made significant strides in advancing its neurology-focused pipeline while progressing toward potential regulatory approval for its Fabry disease gene therapy, according to recent company updates and fourth quarter 2024 financial results.
Neurology Pipeline Expansion
Sangamo has successfully transitioned to a neurology-focused business model, achieving a key milestone with FDA clearance of its Investigational New Drug (IND) application for ST-503. This investigational epigenetic regulator targets intractable pain due to idiopathic small fiber neuropathy (iSFN), a form of chronic neuropathic pain with limited treatment options.
"Our strategic pivot toward neurology is beginning to bear fruit with the clearance of our first neurology IND," said a Sangamo executive. "ST-503 represents a potentially transformative approach to treating chronic neuropathic pain, an area with significant unmet medical need."
The company is preparing for a Phase 1/2 study of ST-503, with patient enrollment and dosing expected to commence in mid-2025. Preliminary proof of efficacy data is anticipated in Q4 2026.
In parallel, Sangamo continues to advance its prion disease program, which leverages the company's proprietary STAC-BBB delivery technology. Preclinical data published in bioRxiv demonstrated that a single intravenous infusion of Sangamo's zinc finger repressor (ZFR) significantly reduced expression of prion mRNA and protein in the mouse brain, extended survival, and improved various disease markers—even when administered post-symptomatically. The company expects to submit a Clinical Trial Authorisation (CTA) in Q1 2026.
Fabry Disease Program Shows Promising Results
At the 21st Annual WORLDSymposium in February 2025, Sangamo presented updated Phase 1/2 STAAR study data for isaralgagene civaparvovec, its gene therapy for Fabry disease. The data demonstrated sustained benefits and improvements in kidney function following a single administration in 33 adults with Fabry disease.
Key findings included:
- Elevated expression of alpha-galactosidase A (α-Gal A) activity maintained for nearly four years in the longest-treated patient
- Positive mean estimated glomerular filtration rate (eGFR) slope of 3.061 mL/min/1.73m²/year, indicating notable improvements in renal function
- All 18 patients who began the study on enzyme replacement therapy (ERT) have been successfully withdrawn and remain off ERT
- Significant improvements in quality of life scores, with a mean change in General Health score of 10.6
Importantly, the FDA has provided a clear regulatory pathway to Accelerated Approval for isaralgagene civaparvovec, agreeing that data from the ongoing Phase 1/2 STAAR study can serve as the primary basis for approval under the Accelerated Approval Program, using eGFR slope at 52 weeks as an intermediate clinical endpoint.
"The FDA's agreement on our accelerated approval pathway could potentially reduce the time to approval by approximately three years," noted a company spokesperson. "This represents a significant advancement for patients with Fabry disease who currently rely on biweekly enzyme replacement therapy infusions."
The 52-week eGFR slope data from all enrolled patients will be available in the first half of 2025, with a potential Biologics License Application (BLA) submission anticipated in the second half of 2025. Sangamo is advancing BLA preparation activities while continuing to engage in business development negotiations for a potential Fabry commercialization agreement.
Strategic Partnerships and Financial Position
Sangamo has been actively building its partnership portfolio to support its pipeline and technology platforms. In December, the company announced a capsid license agreement with Astellas Gene Therapies, Inc., granting Astellas a worldwide exclusive license to STAC-BBB for up to five potential neurological disease targets. The agreement included a $20 million upfront license fee, with eligibility to earn up to $1.3 billion in additional licensed target fees and milestone payments, plus tiered royalties on potential net sales.
The company is also in advanced contract negotiations for a third STAC-BBB license agreement for delivering intravenously administered genomic medicines for specified neurological diseases.
Following Pfizer's decision to terminate their global collaboration and license agreement for giroctocogene fitelparvovec, an investigational gene therapy for hemophilia A, Sangamo is exploring options to maximize the value of this program, including seeking a new collaboration partner.
"We've made significant progress in establishing valuable partnerships that not only validate our technology platforms but also provide non-dilutive funding to advance our pipeline," said a Sangamo executive. "These collaborations with industry leaders like Genentech and Astellas underscore the potential of our approach to genomic medicine."
Financial Results and Outlook
For the fourth quarter ended December 31, 2024, Sangamo reported a consolidated net loss of $23.4 million, or $0.11 per share, compared to a consolidated net loss of $60.3 million, or $0.34 per share, for the same period in 2023. For the full year 2024, consolidated net loss was $97.9 million, or $0.49 per share, compared to consolidated net loss of $257.8 million, or $1.48 per share, for 2023.
The company has significantly reduced its operating expenses, with non-GAAP operating expenses for Q4 2024 at $29.0 million, compared to $55.9 million for the same period in 2023. For the full year, non-GAAP operating expenses were $138.8 million in 2024 compared to $252.7 million in 2023, representing a reduction of nearly half year over year.
Despite these cost-cutting measures, Sangamo faces financial challenges. Cash and cash equivalents as of December 31, 2024, were $41.9 million, compared to $81.0 million as of December 31, 2023. Based on its current operating plan, the company believes its cash resources, together with $10.1 million generated through its at-the-market offering program in 2025 and a $5.0 million payment expected from Pfizer, will be sufficient to fund planned operations only into the middle of the second quarter of 2025.
For 2025, Sangamo expects non-GAAP total operating expenses to be roughly in line with 2024, reflecting its intention to operate a lean neurology-focused business while continuing to advance isaralgagene civaparvovec toward a potential BLA submission.
"We've taken decisive action to reduce our operating expenses while focusing our resources on the most promising programs in our pipeline," commented a company executive. "However, securing additional capital remains a top priority to support our ongoing operations and the advancement of our innovative therapies."
Looking Forward
As Sangamo continues its transition to a neurology-focused company, key upcoming milestones include:
- Commencement of patient enrollment and dosing for ST-503 in mid-2025
- Availability of 52-week eGFR slope data from all enrolled patients in the Phase 1/2 STAAR study in the first half of 2025
- Potential BLA submission for isaralgagene civaparvovec in the second half of 2025
- CTA submission for the prion disease program in Q1 2026
The company's immediate focus remains on securing additional funding through strategic partnerships, particularly for its Fabry disease program, while continuing to advance its neurology pipeline and prepare for potential commercialization of isaralgagene civaparvovec.
