Sangamo Therapeutics, Inc. is experiencing a positive movement in its stock price today following the announcement of a significant licensing agreement with Astellas Pharma. The agreement grants Astellas a worldwide exclusive license to utilize Sangamo's STAC-BBB capsid, a neurotropic adeno-associated virus known for its ability to penetrate the blood-brain barrier, for one target, with the option to add up to four additional targets. This deal includes a $20 million upfront payment to Sangamo and the potential for up to $1.3 billion in additional fees and milestone payments, highlighting the continued industry interest in Sangamo's innovative technology for treating neurological diseases.
The current price of Sangamo Therapeutics' stock is $2.48, reflecting a slight increase of 0.40% from the previous close of $2.47. The stock opened at $2.34 and has reached a high of $2.49 in early trading. Despite being just a few minutes into the trading day, the stock has seen a volume of 371,870 shares, which is 4.45% of its average daily volume of 8,361,944 shares, indicating a relatively low trading activity so far.