NEW YORK, NY / ACCESSWIRE / January 5, 2025 / Pomerantz LLP is investigating claims on behalf of investors of Sangamo Therapeutics, Inc. ("Sangamo" or the "Company") (NASDAQ: SGMO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Sangamo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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During post-market hours on December 30, 2024, Sangamo announced that Pfizer, with whom the Company was co-developing hemophilia A gene therapy candidate giroctocogene fitelparvovec, would be returning after the development and commercialization rights to giroctocogene fitelparvovec after deciding not to pursue commercialization of the asset, which is in phase 3.
In a press release announcing this development, Sangamo stated that it was "surprised and extremely disappointed by Pfizer's decision" to end the collaboration so close to anticipated Biologics License Application and Marketing Authorisation Application submissions for giroctocogene fitelparvovec, which the Company had expected to occur in early 2025.
The collaboration and license agreement with Pfizer will terminate effective April 21, 2025, at which time Pfizer will be required to transition the giroctocogene fitelparvovec program back to Sangamo.
On this news, Sangamo's stock price fell sharply during intraday trading on December 31, 2024.
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SOURCE: Pomerantz LLP
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