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. is experiencing notable momentum in the market, reflected by a pre-market surge of approximately 25.74%, trading at $2.955, following an increase from the previous closing price of $2.350. This uptick has attracted significant investor interest, evidenced by a current trading volume of 1.44 million shares, suggesting strong market participation and the potential for continued upward movement. Analysts recommend closely monitoring Sangamo as it approaches key resistance levels that indicate a possible breakout.

In conjunction with this market activity, Sangamo recently entered a strategic licensing agreement with Astellas Pharma Inc. to deploy its proprietary neurotropic adeno-associated virus (AAV) capsid, designated STAC-BBB. This innovative technology has demonstrated significant efficacy in penetrating the blood-brain barrier and achieving neuronal transduction in preclinical studies. Under the terms of the agreement, Astellas gains exclusive global rights to utilize the STAC-BBB capsid for a primary neurological target, with options to incorporate up to four additional targets, thereby broadening therapeutic possibilities for neurological disorders that currently lack effective treatments.

Sangamo’s CEO, Sandy Macrae, highlighted the groundbreaking nature of the STAC-BBB technology and its appeal within the industry. He expressed enthusiasm for the collaboration, emphasizing the shared commitment to develop novel treatments for serious neurological conditions. Similarly, Astellas’ Chief Strategy Officer, Adam Pearson, acknowledged the challenges of delivering therapies to the central nervous system and underscored the potential of the STAC-BBB capsid technology in overcoming these barriers.

Under the agreement, Sangamo will facilitate a technology transfer, after which Astellas will manage research, clinical development, regulatory processes, and commercialization efforts. This partnership includes a $20 million initial licensing fee with an additional potential of up to $1.3 billion in milestone payments. As both companies embark on this collaboration, they are set to make significant advancements in gene therapy, aiming to address the needs of patients suffering from challenging neurological ailments.

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