Sangamo shares plunge after Pfizer ends hemophilia A gene therapy deal (updated)
30/12/2024 21:55
(Adds shares in paragraph 1, details in paragraphs 2-3)
Dec 30 (Reuters) - Sangamo Therapeutics SGMO.O said on
Monday it would regain the rights to its hemophilia A gene
therapy following the termination of a co-development agreement
with partner Pfizer PFE.N , sending its shares down 30.3% in
extended trading.
Sangamo said Pfizer would not proceed with submissions
for potential approval or pursue the commercialization of the
therapy, giroctocogene fitelparvovec.
The company added it would explore all options to
advance the program, including the possibility of seeking a new
collaborative partner.
(Reporting by Puyaan Singh in Bengaluru; Editing by Mohammed
Safi Shamsi)
((Puyaan.Singh@thomsonreuters.com;))