SGMO: Quiet Q With SGMO Appealing To Be Relisted

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SGMO: Quiet Q With SGMO Appealing To Be Relisted

RBC Capital Markets, LLC

Luca Issi, Ph.D. (Analyst)

(212) 266-4089, luca.issi@rbccm.com

Lisa Walter, Ph.D. (Analyst)

(212) 858-6021, lisa.a.walter@rbccm.com

Shelby Hill, Ph.D. (Senior Associate)

(332) 204-2106, shelby.hill@rbccm.com

Cassie Yuan, Ph.D. (Senior Associate)

May 14, 2026 (212) 863-4811, cassie.yuan@rbccm.com

Sangamo Therapeutics, Inc.RESEARCH Quiet Q With SGMO Appealing To Be Relisted Sector Perform

Speculative Risk Our view: SGMO reported 1Q. On Fabry, BLA's rolling submission is ongoing

and the preclinical and clinical modules had been submitted. The company NASDAQ: SGMO; USD 0.14

plans on filing for accelerated approval with positive mean annualized eGFR Price Target USD 2.00

slope at 52-weeks and suggests FDA affirmation of two-year eGFR may Scenario Analysis*

be used for full approval. The company is targeting completion of CMC

module around summer alongside the ongoing BD discussions. Rest of DownsideScenario CurrentPrice TargetPrice ScenarioUpside

the pipeline is on track as enrollment continues for Chronic NeuropathicEQUITY 0.00 0.14 2.00 7.00

Pain following the activation of six clinical sites (Fast-Track designation 100% 1,376% 5,066%

received in Dec-25). On Prion Disease, CTA-enabling activities are ongoing,

and the company has completed the GLP tox study. On the stock, SGMO is *Implied Total Returns Key Statistics

appealing the delisting decision by NASDAQ (transitioned to OTCQB under Shares O/S (MM): 389.6 Market Cap (MM): 53

same ticker) on June 9, 2026. We appreciate recent progress, but we remain Dividend: 0.00 Yield: 0.0%

on the sidelines awaiting further clarity on the financial overhang (current Avg. Daily Volume: 14,771,922

runway into 3Q26). RBC Estimates

FY Dec 2025A 2026E 2027E 2028E