Sangamo Therapeutics is experiencing a significant drop in its stock price following Pfizer's decision to terminate their collaboration on the development of giroctocogene fitelparvovec, a gene therapy candidate for hemophilia A. This unexpected move by Pfizer, despite positive phase III results, has led Sangamo to regain full rights to the therapy. The company is now exploring options to continue the program, including seeking a new partner. The termination of this partnership has raised concerns about Sangamo's cash position, as noted by analysts from Truist, and has led to a reduction in the company's price target by Wells Fargo.
On Reddit, discussions are centered around the implications of Sangamo regaining full rights to the hemophilia A gene therapy program. Users are reacting to the news with a mix of disappointment and speculation about the company's future prospects. Some express concern over the financial impact of losing Pfizer's support, while others are hopeful that Sangamo might find a new collaborator to advance the therapy.
Sangamo Therapeutics' stock is currently trading at $1.20, down 48.72% from its previous close of $2.34.