Sangamo Therapeutics News: Why SGMO Stock Is Soaring Today

A bevy of Sangamo Therapeutics news for Tuesday has SGMO stock flying high today.

Sangamo Therapeutics News: Why SGMO Stock Is Soaring Today

Source: Shutterstock

Sangamo Therapeutics (NASDAQ:SGMO) starts off the day by announcing a new deal to increase its manufacturing capacity. The company signed a deal with Brammer Bio that will give it access to access to large-scale AAV manufacturing. This includes up to 2000-L bioreactor scale for manufacturing of its drug.

To go along with this Sangamo Therapeutics news is additional manufacturing at one of its plants in Brisbane, Calif. This is for a Phase 1/2 cGMP manufacturing facility that it expects to be up and running in 2020.

Other Sangamo Therapeutics news that has SGMO stock up today has to do with interim results from a recent study. This study is for its SB-525 gene therapy treatment for severe hemophilia A. The company notes that the drug was well-received by patients. This includes strong tolerability and an increase in Factor VIII levels.

More Sangamo Therapeutics news today about studies includes one for its ST-400. This is an autologous cell therapy that involves gene editing of a patient’s own hematopoietic stem cells. The company notes that there was a serious adverse event at the start of the trial, but that the treatment’s results were promising afterwards.

“These initial results are especially encouraging given the patient’s β0/ β0 genotype, a patient population which has proved to be difficult-to-treat and where there is high unmet medical need,” Angela Smith, MD, Associate Professor in the Division of Pediatric Blood and Marrow Transplantation at the University of Minnesota, said in a statement.

SGMO stock was up 29% as of Tuesday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC