Sangamo BioSciences, Inc. (SGMO)
Q4 2010 Earnings Call
February 2, 2011 5:00 pm ET
Elizabeth Wolffe - Director, Corporate Communications
Edward Lanphier - President and CEO
Ward Wolff - EVP and CFO
Dale Ando - VP of Therapeutic Development and CMO
Philip Gregory - VP of Research and CSO
Charles Duncan - JMP Securities
Joseph Schwartz - Leerink
Ted Tenthoff - Piper Jaffray
Liana Moussatos - Wedbush Securities
Previous Statements by SGMO
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I would now pass you over to the coordinator of this event, Dr. Elizabeth Wolffe, Senior Director of Corporate Communications.
Good afternoon and thank you for joining Sangamo's management team on our conference call to discuss the company's fourth quarter and full year 2010 financial results.
Also present during this call are several members of Sangamo's senior management, including Edward Lanphier, President and Chief Executive Officer; Ward Wolff, Executive Vice President and Chief Financial Officer; Dale Ando, Vice President of Therapeutic Development and Chief Medical Officer; and Philip Gregory, Vice President of Research and Chief Scientific Officer.
Following this introduction, Edward will highlight recent activities and the significant events in the past year. Ward will then briefly review fourth quarter and full financial results for 2010. Philip will provide an update on of our preclinical ZFP Therapeutic programs. And finally, Edward will update you on our goals for 2011. Following that, we will open the call up for questions.
As we begin, I'd like to remind everyone that the projections and forward-looking statements that we discuss during this conference call are based upon the information that we currently have available. This information will likely change over time. By discussing our current perception of the markets and the future performance of Sangamo with you today, we are not undertaking an obligation to provide updates in the future. Actual results may differ substantially from what we discuss today and no one should assume at a later date that our comments from today are still valid.
We alert you to be aware of risks that are detailed in documents that the company files with the Securities and Exchange Commission, specifically our quarterly reports on Form 10-Q and our Annual Report on Form 10-K. These documents include important risk factors that could cause the actual results of the company's operations to differ materially from those contained in our projections or forward-looking statements.
Now I'd like to turn the call over to Edward.
Thank you, Liz, and thank you all for joining us for our conference call to discuss our fourth quarter and full year results for 2010 as well as our plans for 2011. The past four months have been an important period of maturation for our ZFP technology, and for us as a therapeutic product development company, we believe that 2011 will be a transformational year for Sangamo.
In the year ahead, we have several opportunities to present groundbreaking clinical data from our lead ZFP Therapeutic programs in diabetic neuropathy or DN and in HIV/AIDS. And this, needless to say, is where the rubber meets the road for a company working to establish a novel technology platform as the basis for the development of a new class of human therapeutics. So let me give you a few examples of recent progress along that road.
In early January, we announced that we have completed enrollment of our Phase 2b clinical trial in subjects with moderate severity diabetic neuropathy on schedule, which means that we're on track to provide 180-day efficacy data in the fourth quarter of 2011. We also enrolled more patients than anticipated, 170 subjects rather than the 150 that we had initially proposed. But more on that later.
We recently announced, in about four weeks from now, we will present the first clinical data from our Phase 1 trials of our ZFN-modified T-cell therapeutic, SB-728-T, for HIV/AIDS at the Conference on Retroviruses and Opportunistic Infections or CROI. I'll have more to say later in this call about the type of data that we will be presenting and our overall strategy and rationale for the trial that we are conducting, including our most recently initiated trial, a Phase 1/2 trial, in HIV-infected subjects who are not taking any antiretroviral medication.
We also made notable progress in our preclinical programs with presentations at the Annual Meeting of the American Society of Hematology or ASH from our hemophilia program and publication of preclinical animal studies from our Parkinson's disease program in the Journal of Neuroscience.
Our hemophilia B program is a particularly exciting story as we demonstrated permanent functional correction of hemophilia B in a mouse model of the disease with a single systemic treatment. I've asked Philip Gregory, our VP of Research and Chief Scientific Officer, to describe the work in more detail and explain its significance later in the call.
The preclinical studies that were published in the Journal of Neuroscience were funded by the Michael J. Fox Foundation for Parkinson's Research and formed the basis of a grant application which earned a second award from the Foundation. Our most recent award of approximately $1 million will fund the next phase and the next stage of preclinical development in non-human primate models of Parkinson's disease.
Also, with relevance to our interest in Parkinson's, we are working with the Parkinson's Institute here in the Bay Area which was recently awarded a $1.3 million grant from the California Institute for Regenerative Medicine or CIRM. We will development ZFN-modified cell lines from induced pluripotent stem cells or IPSCs, which have been derived from skin cells taken from Parkinson's patients. The generation of these cell lines has intended to accelerate our understanding of the molecular causes of Parkinson's and provide models that could become important tools for developing novel therapies.