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Sangamo: 4Q Earnings Snapshot

February 28, 2020 GMT

RICHMOND, Calif. (AP) _ Sangamo Therapeutics Inc. (SGMO) on Friday reported fourth-quarter net income of $4.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Richmond, California-based company said it had net income of 4 cents.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.

The drug developer posted revenue of $54.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $17 million.

For the year, the company reported that its loss widened to $95.2 million, or 85 cents per share. Revenue was reported as $102.4 million.

Sangamo shares have dropped 20% since the beginning of the year. The stock has decreased 28% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGMO at https://www.zacks.com/ap/SGMO