SGMO - Sangamo Therapeutics stock slips despite Q1 revenue beat

Sangamo Therapeutics (NASDAQ:SGMO) stock fell May 6 despite its Q1 results beat analysts' estimates a day ago. Q1 revenue rose +7.41% Y/Y to $28.23M. The company said the increase was mainly due to a an increase of $1M related to its collaboration with Novartis, an increase of $0.7M due to a partnership with Biogen, and an increase of $0.4M linked to its collaboration with Sanofi. Net loss narrowed to -$44M, compared to -$45.94M in Q1 2021. Sangamo noted that its partner Pfizer intends to restart a phase 3 trial, dubbed AFFINE, of its gene therapy giroctocogene fitelparvovec to treat hemophilia A, in Q3 after the FDA lifted its clinical hold on the study. Pfizer had said that currently a voluntary pause remains in place until all necessary conditions are met, including approval of updated trial protocols by regulatory authorities. The planned data readout is estimated in H2 of 2023. Total operating expenses amounted

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Sangamo Therapeutics stock slips despite Q1 revenue beat