SGMO Stock Jumps Over 10% on Encouraging Drug Data

SGMO stock

SGMO stock is one of the notable biotech stock gainers in Monday’s trading session after Sangamo Therapeutics Inc (NASDAQ:SGMO) issued solid results for a new drug to treat severe hemophilia A.

Encouraging Results

California-based biotechnology company Sangamo Therapeutics Inc was on a tear back in April this year after results were released from two patients who had been treated with its hemophilia medicine SB 525.

Today, the company released data from its Phase 1/2 ALTA study of SB 525 with regards to the effects on patients who suffer from hemophilia. It is a hugely significant development for Sangamo, which has been developing this gene therapy in partnership with pharmaceutical giant Pfizer Inc (NYSE:PFE).

The results, which were presented at the International Society on Thrombosis and Hemostasis Congress located in Melbourne, were positive, and SGMO stock is up by 10.20% at $12.55 on the back of the update.

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The most important thing to point out regarding the data is the fact that the two patients who were administered this gene therapy treatment showed marked improvement later on.

In addition to that, there was no factor usage at all during the 24 weeks of follow up. Two additional patients were put through the tests as well, and the results were almost similar to the first two patients. This goes to show that the treatment in question is consistent with regards to the results, and that is perhaps the most important aspect of any such therapy.

In addition to that, the treatment was tolerable to all the patients who were part of the testing process, so the positivity surrounding SGMO stock at this point does not come as a surprise at all. The collaboration with a pharmaceutical giant like Pfizer is definitely a big factor for the treatment and for Sangamo Therapeutics going forwards.

There is a possibility that the company could use the immense expertise of Pfizer to ensure that the testing results from the forthcoming stages meet with FDA guidelines.

SGMO stock has gained over 40% since early June.

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Featured image: DepositPhotos © kritiya

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