Sangamo Therapeutics is facing a significant setback after Pfizer decided to terminate their collaboration on the development of the hemophilia A gene therapy, giroctocogene fitelparvovec. This unexpected move by Pfizer, which had previously indicated plans to submit regulatory applications for the therapy in early 2025, has left Sangamo scrambling to regain full rights and explore new avenues for commercialization. The decision comes despite positive results from the Phase 3 AFFINE trial, which had shown the therapy's potential to significantly reduce bleeding rates in patients with hemophilia A. Sangamo's leadership expressed disappointment but remains committed to finding a new partner to advance the program.
The market reacted sharply to the news, with Sangamo's stock plummeting in after-hours trading. The stock closed at $2.3400 but has since dropped 58.97% to $0.9600 as of 7:31 PM on December 30th.