24/7 Market News Snapshot 19 December, 2024 – Sangamo Therapeutics, Inc. Common Stock (NASDAQ:SGMO)

December 19, 2024

DENVER, Colo., 19 December, 2024 (247marketnews.com) – (NASDAQ:SGMO) are discussed in this article.
Sangamo Therapeutics, Inc. (SGMO) is experiencing a notable surge in its stock price, reflecting strong investor optimism following the announcement of a strategic collaboration with Astellas Pharma Inc. Currently trading at $2.955, up 25.75% from the previous day’s close of $2.350, Sangamo’s stock is supported by a trading volume of 1.44 million shares, indicating heightened interest in the company’s prospects.

This strategic partnership grants Astellas exclusive rights to utilize Sangamo’s groundbreaking proprietary capsid, STAC-BBB, which has shown significant potential in crossing the blood-brain barrier and effectively targeting neurons in preclinical studies. The collaboration begins with a $20 million upfront payment to Sangamo, with the possibility of up to $1.3 billion in additional fees and milestone payments as well as tiered royalties from eventual net sales.

Sangamo’s CEO, Sandy Macrae, expressed excitement regarding the partnership, emphasizing that this collaboration not only highlights the capabilities of Sangamo’s innovative technologies but also represents a significant investment in pioneering treatments for neurological disorders. Astellas’ Chief Strategy Officer, Adam Pearson, echoed this enthusiasm, noting the complexities associated with delivering gene therapies to the central nervous system and the critical role of the STAC-BBB capsid in overcoming these challenges.

The partnership underscores a commitment from both companies to innovate in the field of gene therapy, particularly for diseases that currently lack effective treatments. As Sangamo continues to push the boundaries of genomic medicine, this collaboration with Astellas appears poised to pave the way for valuable advancements in therapeutic options for patients suffering from severe neurological conditions.

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