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

November 19, 2024

DENVER, Colo., 19 November, 2024 (247marketnews.com) – (Nasdaq:SGMO) are discussed in this article.
Sangamo Therapeutics, Inc. (Nasdaq:SGMO) has experienced notable positive momentum in its stock performance, opening at $1.88 and advancing by 15.58% to a trading value of $2.196, supported by a trading volume of 5.82 million shares. This surge indicates heightened market interest, while technical signals suggest a solid upward trajectory. Resistance levels are anticipated around $2.25; should the stock consistently exceed this threshold, it could indicate the continuation of a bullish trend. Conversely, a support level is observed at $1.85, and investors are advised to keep an eye on MACD and RSI indicators to assess the strength of the current movement and potential fluctuations.

In conjunction with the favorable stock performance, Sangamo has reached a significant milestone with the recent FDA clearance of its investigational new drug (IND) application for the ST-503 program. This groundbreaking epigenetic regulator is designed to meet the critical need for effective treatments for idiopathic small fiber neuropathy (iSFN), a severe form of chronic neuropathic pain that inflicts debilitating symptoms, including persistent burning and stabbing sensations that greatly diminish patients’ quality of life. The urgency for new, effective solutions is underscored by the limited efficacy of existing treatments such as antidepressants and opioids.

Nathalie Dubois-Stringfellow, Ph.D., Sangamo’s Chief Development Officer, articulated the significance of the IND clearance, highlighting the potential of their innovative zinc finger technology in revolutionizing treatment approaches for neurological disorders. With a Phase 1/2 clinical study set to evaluate the safety, tolerability, and preliminary efficacy of ST-503 via single intrathecal administration, Sangamo is enthusiastic about bringing this promising therapy to patients by mid-2025, aiming to provide hope and improved outcomes for those affected by chronic pain.

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