Volatile pharma stock to watch: Sangamo Therapeutics Inc (NASDAQ: SGMO)

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Sangamo Therapeutics Inc (NASDAQ: SGMO) stock fell 13.18% on June 19th, 2020 (Source: Google finance) after the company & Pfizer updated follow-up data from the Phase 1/2 Alta study of giroctocogene fitelparvovec (SB-525, or PF-07055480), which is an investigational gene therapy for patients with severe hemophilia A. All five patients that had severe hemophilia A & ones received the 3e13 vg/kg dose showed sustained factor VIII (FVIII) activity levels, with a median of 64.2% through chromogenic assay (patient-level geometric means after week 9 post-infusion). The stock recovered over 0.3% on 19th June, 2020 (as of 10:27 am GMT-4; Source: Google finance).

The therapies are designed to help patients in producing the protein on their own, to avoid the painful bleeding in muscles and joints that is typical of the condition and which could result in chronic joint damage over time. Further, Pfizer and Sangamo project to begin dosing patients in a late-stage trial in the second half of 2020.

In the first quarter of 2020, the company had closed the collaboration agreement with Biogen for development of gene regulation therapies for Alzheimer’s, Parkinson’s, neuromuscular and other neurological diseases, and received $225 million in stock sale proceeds and an additional $125 million as upfront license fee. The company during the period had executed a collaboration and exclusive global license agreement with UK cell conversion company Mogrify Ltd for Sangamo for the development of allogeneic cell therapies from Mogrify’s proprietary induced pluripotent stem cells (iPSCs) cell conversion technology using Sangamo’s zinc finger protein (ZFP) gene-engineered chimeric antigen receptor regulatory T cell (CAR-Treg) platform. This collaboration has the potential to increase the development of scalable and accessible CAR-Treg cell therapies for the treatment of inflammatory and autoimmune diseases, diversifying Sangamo’s options and complementing current programs.

Additionally, the company’s cash, cash equivalents and marketable securities stood at $363.1 million as of March 31, 2020, compared to $384.3 million as of December 31, 2019.

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