FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Securities and Free Share Liability

The fair value measurements of the Company’s cash equivalents, marketable securities, and the free shares asset are identified at the following levels within the fair value hierarchy (in thousands):


	December 31, 2021
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	119,919	$	119,919	$	—	$	—

Total	119,919		119,919		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	30,614		—		30,614		—
Commercial paper securities	105,757		—		105,757		—
Corporate debt securities	33,682		—		33,682		—
Certificates of deposit	45,091		—		45,091		—
Asset-backed securities	70,701		—		70,701		—
Total	285,845		—		285,845		—
Total cash equivalents and marketable securities	$	405,764	$	119,919	$	285,845	$	—


	December 31, 2020
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	53,165	$	53,165	$	—	$	—

Total	53,165		53,165		—		—
Marketable securities:
U.S. government-sponsored entity debt securities	257,298		—		257,298		—
Commercial paper securities	213,533		—		213,533		—
Corporate debt securities	59,574		—		59,574		—
Certificates of deposits	12,311		—		12,311		—
Asset-backed securities	17,908		—		17,908		—
Total	560,624		—		560,624		—
Total cash equivalents and marketable securities	$	613,789	$	53,165	$	560,624	$	—

Free shares asset	$	70	$	—	$	—	$	70

Summary of Estimated Fair Value of Free Share Liability Assumptions



Free Shares valuation assumptions:	December 31, 2020
Sangamo stock price (USD)	$	15.61
Sangamo France stock price (EUR)	€	3.85
EUR/ USD exchange rate	0.82
Estimated correlation between Sangamo and Sangamo France stock prices	100.0		%
Sangamo stock price (USD) volatility estimate	88.9		%
Sangamo France stock price (EUR) volatility estimate	88.9		%
EUR/ USD exchange rate volatility estimate	6.3		%
Risk free rate and cost of debt by expected exercise date	Varies

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details