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Sangamo: 3Q Earnings Snapshot

·1 min read

BRISBANE, Calif. (AP) _ Sangamo Therapeutics Inc. (SGMO) on Wednesday reported a loss of $1.6 million in its third quarter.

The Brisbane, California-based company said it had a loss of 1 cent per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The drug developer posted revenue of $57.8 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $28.6 million.

Sangamo shares have increased 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.82, an increase of 29% 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