on Monday, Sangamo Therapeutics, Inc. (NASDAQ:SGMO) regained the development and commercialization rights to giroctocogene fitelparvovec, an investigational gene therapy product candidate for moderate to severe hemophilia A with which it has co-developed and licensed to Pfizer Inc (NYSE:PFE).
Pfizer decided to terminate the collaboration and worldwide license agreement between the parties. Sangamo plans to explore all options to develop the program, including looking for a potential new collaboration partner.
Also read: FDA Approves Pfizer's Second Hemophilia Drug With Six Months
In July 2024, Pfizer announced top-line results from the AFFINE Phase 3 trial of giroctocogene fitelparvovec, which showed that the trial met the primary and key secondary objectives of excellence. compared to prophylaxis.
“…we believe it is well positioned for regulatory submissions and potential commercialization,” said Sandy Macrae, CEO of Sangamo Therapeutics. “While we are very surprised and disappointed by Pfizer's decision to end our collaboration so close to the expected BLA and MAA submissions…”
The collaboration and license agreement with Pfizer will expire effective April 21, 2025. All trial participants will continue to be monitored as planned during the transition period.
Sangamo believes that its recently announced partnerships with Roche Holdings AG's (OTC:RHHBY) Genetech a Astellas Pharma Inc (OTC:ALPMF) (OTC:ALPMY) and advanced business development discussions for its Fabry gene therapy program will allow it to chart a path forward for its neurology genomic medicine pipeline.
The company is preparing to initiate the expected enrollment of patients in the Phase 1/2 study of ST-503 for idiopathic small fiber neuropathy in mid-2025 and file an anticipated Clinical Trial Authorization submission for the prion disease program in Q4 2025 , all subject to securing additional funding.
Price Action: SGMO stock is down 54.70% at $1.106 during the premarket session at the last check on Tuesday.
Read Next:
Next: Transform your trading with Benzinga Edge's one-of-a-kind market trading ideas and tools. Click now for exclusive insights that can put you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
This article Sangamo Therapeutics Stock Plunges As Pfizer Terminates Hemophilia Gene Therapy Deal originally appeared on benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.