Sangamo Biosciences (SGMO), a clinical stage biopharmaceutical company, saw its loss widen to $6.98 million or $0.10 a share for the quarter ended Jun. 30, 2014. In the last year period, the company reported a loss of $5.45 million or $0.10 a share. Analysts on average had predicted net loss of $0.14 a share.
Revenue during the second-quarter surged 49.77 percent to $10.38 million from $6.93 million in the last year period.
The company reported operating loss of $7.05 million, compared with operating loss of $5.47 million in the previous year period.
The company expects the third quarter revenues to be in the range of $45 million to $50 million in 2014.
Cash Flow
Sangamo Biosciences has generated cash of $2.80 million from operating activities during the first half, as against cash outgo of $13.31 million in the last year period.
The company has spent $16.86 million cash to meet investing activities during the first half, as against cash outgo of $0.45 million in the last year period. It has made net capital expenditure of $0.46 million during the first half, which was higher by 33.24 percent or $0.12 million, from a year ago.
The company has generated cash of $103.14 million from financing activities during the first half, up $99 million, when compared with the last year period. It has raised net of $103.14 million by selling common stocks.
As on Jun. 30, 2014, the company's cash balance stood at $99.27 million, up $87.22 million from Jun. 30, 2013.
Working Capital
Sangamo Biosciences has witnessed an increase in the working capital over the last one year. The company's working capital stood at $186.18 million as at Jun. 30, 2014, up $139.52 million or 298.96 percent from $46.67 million on Jun. 30, 2013. It registered an increase in current ratio to 12.08 as at Jun. 30, 2014 from 7.61 on Jun. 30, 2013.
Shares of the company gained $0.35 or 2.82 percent to trade at $12.78 on Wednesday (9:48AM).