Sangamo Therapeutics, Inc. is seeing an uptick in its stock price today, likely driven by the recent announcement that the company will regain full rights to its hemophilia A gene therapy program. This follows Pfizer's decision to cease development of giroctocogene fitelparvovec, a move that was disclosed early on January 6th. The return of full rights to this program has sparked investor speculation about Sangamo's potential next steps, whether it be securing a new partner or advancing the program independently. This development is seen as a strategic opportunity for Sangamo to leverage its gene therapy expertise and possibly enhance its market position.
The stock is currently trading at $1.35, reflecting a 3.85% increase from the previous close of $1.30. Despite being just half an hour into the trading day, the stock has already seen a volume of 3,068,599 shares, which is 30.91% of its average daily volume of 9,928,172 shares, indicating a strong early interest from investors.