Sangamo Therapeutics, Inc. is facing a significant decline in after-hours trading, which appears to be linked to the company's recent announcement regarding its collaboration with Pfizer. Sangamo disclosed that it will regain the rights to giroctocogene fitelparvovec, a gene therapy for hemophilia A, from Pfizer. This development may have raised concerns among investors about the future prospects of the therapy and the potential impact on Sangamo's pipeline.
The news of regaining rights could be interpreted as a setback, as it suggests that Pfizer may not see the expected value in continuing the partnership for this particular therapy. This could lead to uncertainty about the therapy's commercial viability and the financial implications for Sangamo, contributing to the stock's downward movement.
Sangamo Therapeutics, Inc. saw its stock price plummet by 26.07% to $1.73 in after-hours trading, following a close at $2.34.