Sangamo Therapeutics, Inc. (SGMO) is experiencing a notable increase in its stock price today, likely driven by ongoing investor interest following the recent announcement that the company will regain full rights to its hemophilia A gene therapy program. This development comes after Pfizer's decision to cease development of giroctocogene fitelparvovec, which was disclosed on December 30, 2024. The return of full rights to this program has sparked speculation about Sangamo's potential next steps, whether it be securing a new partner or advancing the program independently.
On Reddit, discussions are focused on the implications of this regained control, with some users expressing skepticism about the company's future prospects. One user commented on the ongoing investigation into potential securities law violations, questioning its significance: "Is this something worth looking into? Or is this just crap?" Despite these concerns, the sentiment appears cautiously optimistic, with some investors considering the current situation as a strategic opportunity for Sangamo.
The stock is currently trading at $1.47, reflecting an 8.97% increase from the previous close of $1.35. Despite being just half an hour into the trading day, the stock has already seen a volume of 2,202,019 shares, which is 21.86% of its average daily volume of 10,071,593 shares, indicating a strong early interest from investors.