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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n_______________________________________________________________________________________________\n\nForm 10-K\n\n_______________________________________________________________________________________________\n\n☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the fiscal year ended December 31, 2025\n\nor\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from             to            \n\nCommission file number: 000-30171\n\n_______________________________________________________________________________________________\n\nSANGAMO THERAPEUTICS, INC.\n\n(Exact name of registrant as specified in its charter)\n\n_______________________________________________________________________________________________\n\nDelaware68-0359556\n\n(State or other jurisdiction of\nincorporation or organization)(I.R.S. Employer\nIdentification No.)\n\n501 Canal Blvd.\n\nRichmond, California\n94804\n\n(Address of principal executive offices)(Zip Code)\n\n(510) 970-6000\n\n(Registrant’s telephone number, including area code)\n\nNot Applicable\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon Stock, par value $0.01 per shareSGMO\nNasdaq Capital Market\n\nSecurities registered pursuant to Section 12(g) of the Act: None\n\n______________________________________________________________________________________________\n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.   Yes  ☐    No  ☒\n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.   Yes  ☐    No  ☒\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).   Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer☐Accelerated filer☐\n\nNon-accelerated filer☒Smaller reporting company☒\n\nEmerging growth company☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                ☐\n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.      ☐\n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.                ☐\n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).                ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).   Yes  ☐    No  ☒\n\nThe aggregate market value of the common stock held by non-affiliates of the registrant based upon the closing sale price of the common stock on June 30, 2025 (the last business day of the registrant’s most recently completed second fiscal quarter), as reported on the Nasdaq Capital Market was $152,669,558. For purposes of this calculation, directors and executive officers of the registrant have been deemed affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.\n\nAs of March 25, 2026, a total of 414,274,017 shares of common stock, $0.01 par value per share were outstanding.\n\nDOCUMENTS INCORPORATED BY REFERENCE\n\nCertain information required by Part III, Items 10-14 of this Form 10-K is incorporated by reference to the registrant’s definitive Proxy Statement for the 2026 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Form 10-K, provided that if such Proxy Statement is not filed within such period, such information will be included in an amendment to this Form 10-K to be filed within such 120-day period.\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\nTABLE OF CONTENTS\n\nPage\n\n[PART I](#i29aeb4416f69482f8f7bc32e0d48731a_13)\n\n[Item 1.](#i29aeb4416f69482f8f7bc32e0d48731a_16)\n\n[Business](#i29aeb4416f69482f8f7bc32e0d48731a_16)\n\n[7](#i29aeb4416f69482f8f7bc32e0d48731a_16)\n\n[Item 1A.](#i29aeb4416f69482f8f7bc32e0d48731a_19)\n\n[Risk Factors](#i29aeb4416f69482f8f7bc32e0d48731a_19)\n\n[59](#i29aeb4416f69482f8f7bc32e0d48731a_19)\n\n[Item 1B.](#i29aeb4416f69482f8f7bc32e0d48731a_22)\n\n[Unresolved Staff Comments](#i29aeb4416f69482f8f7bc32e0d48731a_22)\n\n[94](#i29aeb4416f69482f8f7bc32e0d48731a_22)\n\n[Item 1C.](#i29aeb4416f69482f8f7bc32e0d48731a_25)\n\n[Cybersecurity](#i29aeb4416f69482f8f7bc32e0d48731a_25)\n\n[94](#i29aeb4416f69482f8f7bc32e0d48731a_25)\n\n[Item 2.](#i29aeb4416f69482f8f7bc32e0d48731a_28)\n\n[Properties](#i29aeb4416f69482f8f7bc32e0d48731a_28)\n\n[95](#i29aeb4416f69482f8f7bc32e0d48731a_28)\n\n[Item 3.](#i29aeb4416f69482f8f7bc32e0d48731a_31)\n\n[Legal Proceedings](#i29aeb4416f69482f8f7bc32e0d48731a_31)\n\n[96](#i29aeb4416f69482f8f7bc32e0d48731a_31)\n\n[Item 4.](#i29aeb4416f69482f8f7bc32e0d48731a_34)\n\n[Mine Safety Disclosures](#i29aeb4416f69482f8f7bc32e0d48731a_34)\n\n[96](#i29aeb4416f69482f8f7bc32e0d48731a_34)\n\n[PART II](#i29aeb4416f69482f8f7bc32e0d48731a_37)\n\n[Item 5.](#i29aeb4416f69482f8f7bc32e0d48731a_40)\n\n[Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#i29aeb4416f69482f8f7bc32e0d48731a_40)\n\n[97](#i29aeb4416f69482f8f7bc32e0d48731a_40)\n\n[Item 6.](#i29aeb4416f69482f8f7bc32e0d48731a_43)\n\n[[Reserved]](#i29aeb4416f69482f8f7bc32e0d48731a_43)\n\n[97](#i29aeb4416f69482f8f7bc32e0d48731a_43)\n\n[Item 7.](#i29aeb4416f69482f8f7bc32e0d48731a_46)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i29aeb4416f69482f8f7bc32e0d48731a_46)\n\n[97](#i29aeb4416f69482f8f7bc32e0d48731a_46)\n\n[Item 7A.](#i29aeb4416f69482f8f7bc32e0d48731a_64)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i29aeb4416f69482f8f7bc32e0d48731a_64)\n\n[108](#i29aeb4416f69482f8f7bc32e0d48731a_64)\n\n[Item 8.](#i29aeb4416f69482f8f7bc32e0d48731a_67)\n\n[Financial Statements and Supplementary Data](#i29aeb4416f69482f8f7bc32e0d48731a_67)\n\n[109](#i29aeb4416f69482f8f7bc32e0d48731a_67)\n\n[Item 9.](#i29aeb4416f69482f8f7bc32e0d48731a_145)\n\n[Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#i29aeb4416f69482f8f7bc32e0d48731a_145)\n\n[144](#i29aeb4416f69482f8f7bc32e0d48731a_145)\n\n[Item 9A.](#i29aeb4416f69482f8f7bc32e0d48731a_148)\n\n[Controls and Procedures](#i29aeb4416f69482f8f7bc32e0d48731a_148)\n\n[144](#i29aeb4416f69482f8f7bc32e0d48731a_148)\n\n[Item 9B.](#i29aeb4416f69482f8f7bc32e0d48731a_151)\n\n[Other Information](#i29aeb4416f69482f8f7bc32e0d48731a_151)\n\n[145](#i29aeb4416f69482f8f7bc32e0d48731a_151)\n\n[Item 9C.](#i29aeb4416f69482f8f7bc32e0d48731a_154)\n\n[Disclosure Regarding Foreign Jurisdictions](#i29aeb4416f69482f8f7bc32e0d48731a_154)[t](#i29aeb4416f69482f8f7bc32e0d48731a_154)[hat Prevent Inspections](#i29aeb4416f69482f8f7bc32e0d48731a_154)\n\n[145](#i29aeb4416f69482f8f7bc32e0d48731a_151)\n\n[PART III](#i29aeb4416f69482f8f7bc32e0d48731a_157)\n\n[Item 10.](#i29aeb4416f69482f8f7bc32e0d48731a_160)\n\n[Directors, Executive Officers and Corporate Governance](#i29aeb4416f69482f8f7bc32e0d48731a_160)\n\n[145](#i29aeb4416f69482f8f7bc32e0d48731a_160)\n\n[Item 11.](#i29aeb4416f69482f8f7bc32e0d48731a_163)\n\n[Executive Compensation](#i29aeb4416f69482f8f7bc32e0d48731a_163)\n\n[145](#i29aeb4416f69482f8f7bc32e0d48731a_163)\n\n[Item 12.](#i29aeb4416f69482f8f7bc32e0d48731a_166)\n\n[Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#i29aeb4416f69482f8f7bc32e0d48731a_166)\n\n[146](#i29aeb4416f69482f8f7bc32e0d48731a_166)\n\n[Item 13.](#i29aeb4416f69482f8f7bc32e0d48731a_169)\n\n[Certain Relationships and Related Transactions, and Director Independence](#i29aeb4416f69482f8f7bc32e0d48731a_169)\n\n[146](#i29aeb4416f69482f8f7bc32e0d48731a_169)\n\n[Item 14.](#i29aeb4416f69482f8f7bc32e0d48731a_172)\n\n[Principal Accounting Fees and Services](#i29aeb4416f69482f8f7bc32e0d48731a_172)\n\n[146](#i29aeb4416f69482f8f7bc32e0d48731a_172)\n\n[PART IV](#i29aeb4416f69482f8f7bc32e0d48731a_175)\n\n[Item 15.](#i29aeb4416f69482f8f7bc32e0d48731a_178)\n\n[Exhibits](#i29aeb4416f69482f8f7bc32e0d48731a_178)[and](#i29aeb4416f69482f8f7bc32e0d48731a_178)[Financial Statement Schedules](#i29aeb4416f69482f8f7bc32e0d48731a_178)\n\n[147](#i29aeb4416f69482f8f7bc32e0d48731a_178)\n\n[Item 16.](#i29aeb4416f69482f8f7bc32e0d48731a_181)\n\n[Form 10-K Summary](#i29aeb4416f69482f8f7bc32e0d48731a_181)\n\n[150](#i29aeb4416f69482f8f7bc32e0d48731a_181)\n\n[SIGNATURES](#i29aeb4416f69482f8f7bc32e0d48731a_184)\n\n2\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\nSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nSome statements contained in this report are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements relate to our future events, including our anticipated operations, research, development, manufacturing and commercialization activities, clinical trials, operating results and financial condition. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements may include, but are not limited to, statements about:\n\n•our estimates regarding the sufficiency of our cash resources and our expenses, capital requirements and need for substantial additional financing, and our ability to obtain the substantial additional financing that we need to support our operations and to continue to operate as a going concern, including the possibility that at any time we may elect or may be required to cease operations entirely, liquidate all or a portion of our assets, and/or seek protection under the U.S. Bankruptcy Code in the very near term;\n\n•our expectations concerning the availability and adequacy of data and a clear regulatory pathway to support a potential Biologics License Application, or BLA, submission for isaralgagene civaparvovec and the anticipated timing and acceptance of such submission, and the potential for the BLA to be approved by the U.S. Food and Drug Administration, or FDA;\n\n•the potential for isaralgagene civaparvovec to obtain Accelerated Approval from the FDA, including the adequacy of data generated in the Phase 1/2 STAAR study to support any such approval, and our expectations concerning the availability of additional data to support the rolling BLA submission for isaralgagene civaparvovec and the anticipated timing of potentially completing such submission;\n\n•our ability to establish and maintain collaborations and strategic partnerships and realize the expected benefits of such arrangements, including our ability to secure one or more commercialization partners for our Fabry disease program and to enter into new collaborations with respect to our STAC-BBB capsid, epigenetic regulation capabilities and hemophilia A program;\n\n•our projected operating and financial performance;\n\n•our plans for advancing our development programs and the plans of any collaboration partners for advancing partnered programs;\n\n•anticipated research and development of product candidates and potential commercialization of any resulting approved products;\n\n•the initiation, scope, rate of progress, enrollment, dosing, anticipated results and timing of our preclinical studies and clinical trials and those of our collaborators or strategic partners;\n\n•the therapeutic and commercial potential of our product candidates, including the durability of therapeutic effects;\n\n•the therapeutic and commercial potential of technologies used by us in our product candidates, including our gene therapy and gene editing technologies, zinc finger, or ZF, technology platform, and zinc finger transcriptional regulators, or ZF-transcriptional regulators, which include zinc finger repressors, or ZFRs;\n\n•anticipated revenues from existing and new collaborations and the timing thereof;\n\n•our and our collaborators’ anticipated plans and timelines in conducting our ongoing and potential future clinical trials and presenting clinical data from such clinical trials, and the anticipated advancement of our product candidates to late-stage development;\n\n•our ability to realize the expected benefits of our license agreements with Genentech, Inc., a member of the Roche group, or Genentech, Alexion Pharmaceuticals, Inc., or Alexion, Astellas Gene Therapies, Inc., or Astellas, and Eli Lilly and Company, or Lilly, the potential for these licensees to complete clinical development, regulatory interactions, manufacturing and global commercialization of any resulting products, and the potential for us to receive milestone payments and/or additional fees and royalties from these licensees;\n\n•anticipated investigational new drug, or IND, and clinical trial application, or CTA, submissions and potential acceptance thereof by the FDA, and regulatory authorities outside the United States;\n\n•our estimates regarding the impact of the macroeconomic and geopolitical environment on our business and operations and the business and operations of our collaborators, including preclinical studies, clinical trials and manufacturing, and our ability to manage such impacts;\n\n3\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\n•our research and development and other expenses;\n\n•our ability to obtain adequate preclinical and clinical supplies of our product candidates from current and potential new suppliers and manufacturers;\n\n•our ability, and the ability of our collaborators and strategic partners, to obtain and maintain regulatory approvals for product candidates and the timing and costs associated with obtaining regulatory approvals;\n\n•our ability to comply with, and the impact of, regulatory requirements, obligations and restrictions on our business and operations;\n\n•our ability to protect our intellectual property and operate our business without infringing upon the intellectual property rights of others, including our ability to obtain and maintain rights to the technologies required to develop and commercialize our product candidates;\n\n•competitive developments, including the impact on our competitive position of rival products and product candidates and our ability to meet such competition;\n\n•our expectations concerning the listing of our common stock on Nasdaq;\n\n•our operational and legal risks; and\n\n•our plans, objectives, expectations and intentions and any other statements that are not historical facts.\n\nIn some cases, you can identify forward-looking statements by use of future dates or by terms such as: “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “seeks,” “should,” “will” and similar expressions intended to identify forward-looking statements. These statements reflect our current views with respect to future events, are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. We discuss many of these risks in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10‑K. Except as required by law, we undertake no obligation to update or revise any forward-looking statements to reflect new information or future events or developments. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this Annual Report on Form 10‑K.\n\n4\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\nSUMMARY OF RISK FACTORS\n\nOur business involves significant risks. Below is a summary of the material risks that our business faces, which makes an investment in our common stock speculative and risky. This summary does not address all these risks. These risks are more fully described below under the heading “Risk Factors” in Part I, Item 1A of this Annual Report on Form 10-K. Before making investment decisions regarding our common stock, you should carefully consider these risks. The occurrence of any of the events or developments described below could have a material adverse effect on our business, results of operations, financial condition and prospects. In such event, the market price of our common stock could decline, and you could lose all or part of your investment. There are also additional risks not described below that are either not presently known to us or that we currently deem immaterial, and these additional risks could also materially impair our business, operations or market price of our common stock.\n\n•There is substantial doubt about our ability to continue to operate as a going concern. We will need substantial additional funding in the very near term to execute our operating plan and to continue to operate as a going concern. If adequate funds do not become available to us in the very near term, we will take additional actions to address our liquidity needs, including additional cost reduction measures such as further reducing operating expenses, including through workforce reductions, and delaying, reducing the scope of, discontinuing or altering our research and development activities, which would have a material adverse effect on our business and prospects, or at any time we may elect to or may be required to cease operations entirely, liquidate all or a portion of our assets, and/or seek protection under the U.S. Bankruptcy Code in the very near term, and you may lose all or part of your investment. Future sales and issuances of equity securities would also result in substantial dilution to our stockholders.\n\n•Our ability to continue funding our operations, advance development of our product candidates and ultimately commercialize our technologies depends on our ability to secure collaboration partners for our programs. If we are not able to find collaborators, or if our collaborators do not diligently pursue product development efforts, we will not be able to secure sufficient capital to continue to operate as a going concern. In particular, we are engaged in early stage business development discussions with potential counterparties concerning a commercialization agreement for our Fabry disease program, but have been unsuccessful in consummating any such transaction to date. There can be no assurance that we will be able to secure a commercialization partner for our Fabry disease program or partner or sell any other programs in a timely manner, on acceptable terms, or at all, and if we are unable to execute such an agreement providing us with significant upfront funding in the very near term, we will not be able to secure sufficient capital to continue to operate as a going concern.\n\n•We are a biotechnology company with no approved products or product revenues. Our success depends substantially on results of preclinical studies and clinical trials demonstrating safety and efficacy of our product candidates to the satisfaction of applicable regulatory authorities. Obtaining positive clinical trial results and regulatory approvals is expensive, lengthy, challenging and unpredictable and may never occur for any product candidates.\n\n•Our core preclinical neurology programs, which are the current focus of our research and development efforts, are in the early stages. We may encounter difficulties in advancing product candidates from research programs to preclinical and clinical development and may fail to capitalize on product candidates with a greater commercial opportunity or for which there is a greater likelihood of success.\n\n•Success in research and preclinical studies or early clinical trial results may not be indicative of results obtained in later trials. Likewise, preliminary, initial or interim data from clinical trials may be materially different from final data.\n\n•We have historically incurred significant operating losses since inception and anticipate continued losses for the foreseeable future. We may never become profitable.\n\n•Disruptions at the FDA, including due to a reduction in workforce and/or inadequate funding, could prevent the FDA from performing normal functions on which our business relies, which could negatively impact our business. In addition, changes in the FDA policies or regulations, as a result of the foregoing disruptions or otherwise, could adversely impact the development of our product candidates and, ultimately, our ability to receive approval for and commercialize our product candidates.\n\n•Biotechnology and genomic medicine are highly competitive businesses. Our competitors may develop rival technologies and products that are superior to or are commercialized more quickly than our technologies and product candidates.\n\n•The manufacture, storage and transport of our product candidates is complex, expensive, highly regulated and risky, which could hamper their commercial viability.\n\n5\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\n•Even if our product development efforts are successful and even if the requisite regulatory approvals are obtained, our products may not gain market acceptance among physicians, patients, healthcare payors and the medical community.\n\n•Because it is difficult, time consuming and costly to obtain, maintain and enforce patent protections for our technologies and product candidates, and because third parties may have made inventions that are similar to ours, we may not be able to secure optimal patent protections of our technologies and product candidates.\n\n•We may be involved in patent or intellectual property lawsuits or similar disputes involving patents under our control or patents of third parties claiming infringement, which lawsuits could be expensive, time-consuming and impair or prevent development and commercialization activities.\n\n•We have experienced and may continue to experience difficulties in hiring, integrating and retaining qualified skilled employees.\n\n•Unfavorable global economic conditions could have a negative impact on our operations, which could materially and adversely affect our ability to continue to operate as a going concern and otherwise have a material adverse effect on our business, financial condition, results of operations, prospects and market price of our common stock.\n\n•We currently do not meet, and do not expect to regain compliance with, the listing standards of the Nasdaq Capital Market, or Nasdaq, prior to the April 27, 2026 compliance deadline. If we do not regain compliance prior to the April 27, 2026 compliance deadline, our common stock will be delisted from Nasdaq and we expect to seek transfer to an over-the-counter trading market such as the OTCQB Venture Market. Delisting our common stock from Nasdaq could adversely affect the liquidity of our common stock and the market price of our common stock could decrease, and our ability to obtain sufficient additional capital to fund our operations and to continue to operate as a going concern would be substantially impaired.\n\n•Our stock price has been volatile and will likely continue to be volatile, which could result in substantial losses for investors and potentially class action securities litigation against us, and could be influenced by public perception of genomic medicines and the biotechnology sector.\n\n•We have recorded significant impairment of our long-lived assets, and may be required to record significant additional charges if our long-lived assets become further impaired in the future.\n\n6\n\n[Table of Contents](#i29aeb4416f69482f8f7bc32e0d48731a_7)\n\nPART I"}