SANGAMO THERAPEUTICS, INC

Sangamo Therapeutics terminated Ernst & Young LLP (EY) as its independent registered public accounting firm on June 25, 2026, following the company's previously announced Chapter 11 bankruptcy filing. EY's reports for fiscal years 2024 and 2025 included a going concern explanatory paragraph but no other adverse opinions or disagreements. Concurrently, on June 24, 2026, the company's common stock began trading on the OTCID Basic Market under "SGMOQ" due to the bankruptcy, though it remains listed on Nasdaq Capital Market pending an appeal of a delisting determination. A new auditor has not yet been engaged.

Sangamo Therapeutics, Inc. filed a voluntary petition for Chapter 11 bankruptcy on June 23, 2026, in the U.S. Bankruptcy Court for the District of Delaware. The company will continue to operate as a "debtor-in-possession" with the goal of maximizing stakeholder value through asset sales. Concurrently, Sangamo entered into a stalking horse asset purchase agreement with Eli Lilly and Company, under which Lilly will acquire certain technology platforms and intellectual property for $50 million plus assumed liabilities. This agreement is subject to court approval and potential higher bids.

Sangamo Therapeutics reported a net loss of $30.995 million for the first quarter of 2026, with revenues significantly decreasing to $1.442 million from $6.437 million in the prior year. The company disclosed substantial doubt about its ability to continue as a going concern due to a history of significant losses, negative cash flows, limited liquidity, and dependence on additional financing. Management is pursuing various strategies, including equity sales and collaborations, to secure necessary capital.

Sangamo Therapeutics reported a Q1 2026 net loss of $31.0 million, or $0.08 per share, with revenues significantly decreasing to $1.4 million from $6.4 million in the prior year. The company continues its rolling Biologics License Agreement (BLA) submission for ST-920 for Fabry disease and is progressing its neurology pipeline, including ST-503 for chronic neuropathic pain and ST-506 for prion disease. Financially, Sangamo transitioned to the OTCQB Venture Market following a Nasdaq delisting and is appealing the decision, while also actively seeking additional funding to extend its cash runway beyond Q3 2026.

Sangamo Therapeutics announced the acceptance of three abstracts for presentation at the 29th ASGCT Annual Meeting, held May 11-15, 2026. The presentations will detail advances in the company's neurology pipeline, including zinc finger epigenetic regulation for chronic neuropathic pain and prion disease, and updated data from its protein-guided MINT platform for integrating large DNA sequences into the genome. These advancements demonstrate the potency, versatility, and specificity of their genome engineering platform, potentially expanding treatment possibilities for complex diseases and offering new collaboration opportunities.

Sangamo Therapeutics, Inc. filed an Amendment No. 1 to its 2025 Form 10-K to include previously omitted information for Items 10 through 14 of Part III, covering Directors, Executive Officers, Corporate Governance, and Executive Compensation. This amendment was necessary because the definitive proxy statement containing this information will not be filed within 120 days of the fiscal year-end. The filing also includes updated Sarbanes-Oxley certifications.

Sangamo Therapeutics, Inc. filed an amended 10-K/A to include previously omitted information for Part III, Items 10-14, which covers directors, executive officers, corporate governance, and executive compensation. The company disclosed that 2025 executive salary increases, including a 4% raise for the CEO to $745,020, and cash incentive bonuses were approved but deferred due to ongoing financial constraints and the need to conserve capital. Notably, CEO Alexander D. Macrae voluntarily waived his 2025 cash bonus of $178,805.

Sangamo Therapeutics, Inc. (SGMO) received a delisting notice from Nasdaq due to its failure to meet the minimum bid price requirement. Trading of its common stock on The Nasdaq Capital Market will be suspended on May 5, 2026. The company plans to appeal the delisting decision, but this will not prevent the trading suspension. Concurrently, SGMO has secured approval for its common stock to be quoted on the OTCQB Venture Market, with trading expected to begin on May 5, 2026, under its current symbol "SGMO."

Sangamo Therapeutics, Inc. (SGMO) announced its common stock will transition from The Nasdaq Capital Market to the OTCQB Venture Market, effective May 5, 2026. This follows a notice from Nasdaq regarding non-compliance with the minimum bid price requirement, leading to delisting. Sangamo intends to appeal the delisting but trading on Nasdaq will be suspended. The company has secured approval for its stock to be quoted on the OTCQB Venture Market under its existing symbol and does not expect material impacts to its business. Sangamo continues to pursue capital raising opportunities and negotiate potential business development transactions.