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Sangamo Biosciences Inc. Message Board

  • Rob_Cos Rob_Cos Aug 6, 2007 1:08 PM Flag

    SGMO-$17 tgt+upside."Building Toward Break-out" Cant Fitz

    CantFitz Jul 25 SGMO report. $17 target + upside."Building Toward Break-out. Expect significant SA milestone pyt & royalties this yr. Multiple near term, revenue sources. Therapeutic product alliance coming."

    Cantor Fitzgerald

    Company Update
    JULY 25, 2007


    Sangamo Biosciences Inc. (SGMO-$9.65)

    Rating: BUY

    Target Price: $17.00

    2Q:07 EPS In-line � Building Toward Break-out

    o Yesterday, after the market close, Sangamo Biosciences reported EPS of $(0.15) for 2Q:07 in-line with our estimate of $(0.13) for the quarter.

    o During 2Q:07, we think Sangamo made significant progress towards building out its business model � leveraging its enabling ZFP platform technology across multiple industries (pharma, agro, biomanufacturing and research lab) �to develop and commercialize proprietary products that provide near-term revenue with the potential for sustainable top-line and bottom-line growth.

    o We expect Sangamo to end 2007 with about $75 million in cash, following the closing of their offering of approximately 3.28 million shares at $9.15 per share on July 20, 2007, along with the upfront fee and other payments from the recent Sigma-Aldrich alliance to create products for research labs.

    o We anticipate continued agro-product development progress with DowAgrosciences following the generation of specific traits in both maize and canola, including payment of milestones later this year. Further, we expect Sangamo to receive milestone payments and royalties from Sigma-Aldrich later this year.

    o We think the multiple near-term revenue sources, ongoing R&D funding, research grants and recent offering, provide Sangamo with the ongoing funding to move its proprietary therapeutic pipeline forward and we expect the company to execute at least one therapeutic product alliance, plus additional commercial biomanufacturing agreements within the next 12 months. We reiterate our BUY rating.


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11.88-0.65(-5.19%)Jul 31 4:00 PMEDT

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