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Sangamo Therapeutics (SGMO)

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As some know I have moved my interests into gene therapy and edit stocks.

I wrote couple of articles about Sangamo Therapeutics on SA

https://seekingalpha.com/article/4325158-despite-skepticism-sangamo-is-buy

 

and this one

https://seekingalpha.com/article/4328714-deal-biogen-boosts-recommendation-to-buy-sangamo-shares

Those who are interested to discuss Sangamo on the board here, are welcome to join.

This board is free and remains semi-monitored so no garbage gets in.

 

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Sangamo's GM to take place on May 18th. Asking to double the shares availability as they are short with 160M to cover options, 24M to Biogen etc.

 

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140M shares after the Biogen transaction, I think the company needs to be sensible how they hand out options. I will likely vote no to this proposal. They need to manage with reasonable expectations in those no so reasonable times. 

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According to the proxy for the purpose of the general meeting, the issuance of the stock is addressed as follows:

"As of the close of business on March 20, 2020, of our 160,000,000 authorized shares of common stock, there were 116,211,355 shares of common stock issued and outstanding. In addition to the 116,211,355 shares of common stock outstanding on March 20, 2020, there were 24,420,157 shares reserved for issuance pursuant to that certain stock purchase agreement we entered into on February 26, 2020 with Biogen MA, Inc. and the remainder of our authorized shares of common stock as of the close of business on March 20, 2020 have all been reserved for issuance under our various equity compensation plans, including the 2018 Plan. Accordingly, at present, there are no available unissued and unreserved authorized shares of our common stock, including to give effect to the proposed Share Reserve Amendment with respect to the Amended 2018 Plan that is part of Proposal No. 3. In this regard, the effectiveness of the Share Reserve Amendment and the ISO Limit Amendment that are part of Proposal No. 3 are contingent upon approval of this Proposal No. 4 by our stockholders."

As it has been inaccurately stated elsewhere, the Biogen deal is not based on additional issuance of shares through this proposal. The change to the incentive plan from 2018 to 2020, is argued to have 9.9M shares addition, and that is the sole reason. Although a common practice, it is rather insensitive to require doubling of the shares. So having $600M, including the burn for the first quarter, literally is not enough to carry the company, even though $275M from Pfizer is being heralded as being on a cusp, and needing time. The $6.3B is not also considered as a potential income?

Why this meeting not one in 2021 or 2022?

Why not ask for 20M shares? The fiscal discipline has been mediocre, and it will continue having approved 160M shares.  The incentive plan simply asks for 50% more shares to be awarded yearly. Why?

I would not mind if they were buying those optioned shares. Macrae has 1M in options but owns zero. It is ATM, nothing else. I am going to vote no. This does not threaten the Biogen deal. And perhaps if it is because Biogen will not pay $9.21 per share and the management is ok to change the volume of shares to a larger amount than 24M.   

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Sangamo Announces Closing of Biogen Collaboration Agreement

- Sangamo has received $225 million in stock proceeds; will receive additional $125 million upfront license fee by May 8, 2020

BRISBANE, Calif.--(BUSINESS WIRE)--Apr. 9, 2020-- Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicine company, today announced the closing of its previously announced sale of stock to Biogen Inc. (Nasdaq: BIIB) and that the global licensing collaboration agreement with Biogen for the development and commercialization of gene regulation therapies for Alzheimer’s, Parkinson’s, neuromuscular and other neurological diseases is now effective. Under the terms of the collaboration, Sangamo has received $225 million from the purchase by Biogen of newly issued Sangamo stock and will receive an upfront license fee of $125 million from Biogen no later than May 8, 2020. Additionally, Sangamo is eligible to earn up to $2.37 billion in other development, regulatory and commercial milestone payments, including up to $925 million in pre-approval milestone payments and up to $1.445 billion in first commercial sale and other sales-based milestone payments. Sangamo is also eligible to earn tiered high single-digit to sub-teen double-digit royalties on potential net commercial sales of products arising from the collaboration.

“The Biogen transaction exemplifies our strategy to partner assets when we believe that a collaborator’s financial resources and clinical and therapeutic area expertise will enable more rapid development and availability of new treatments to patients,” said Sandy Macrae, Sangamo’s CEO. “Importantly, with the addition of the upfront consideration from this agreement, we believe we have the balance sheet strength to execute on our wholly owned and partnered development programs through multiple important milestones, including the potential filing of the BLA for SB-525 for hemophilia A.”

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Sangamo Appoints D. Mark McClung as Executive Vice President and Chief Business Officer

April 17, 2020 at 8:30 AM EDT

BRISBANE, Calif.--(BUSINESS WIRE)--Apr. 17, 2020-- Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicine company, today announced the appointment of D. Mark McClung as Executive Vice President and Chief Business Officer. Mr. McClung will oversee commercial strategic planning, alliance management and corporate and business development.

Mr. McClung’s appointment is the latest in the evolution of Sangamo’s leadership implemented over the last three years as the Company’s technology and research programs have advanced into a diversified pipeline of therapeutic product candidates in various stages of clinical development. During this period, Sangamo has also appointed executive vice presidents overseeing R&D, manufacturing, legal and finance.

“I’m excited to welcome Mark to Sangamo. With our first product candidate entering Phase 3 and our broad pipeline of proprietary and partnered programs advancing in development, we are increasingly focused on late stage development and commercialization strategies for genomic medicines. Mark has extensive experience leading commercial organizations in therapeutic areas where innovative products have disrupted standards of care,” said Sandy Macrae, Sangamo’s CEO.

From 2015 through 2019, Mr. McClung was Vice President and General Manager of Global Oncology Commercial at Amgen, which he joined from Onyx Pharmaceuticals where he had served as Chief Commercial Officer. For two decades prior, Mr. McClung held roles of increasing responsibility at GlaxoSmithKline in marketing and sales, commercial operations, and general management in the United States and Europe, including as Vice President and Head of Global Commercial for GSK Oncology from 2009 – 2013.

“Over the next decade, genomic medicines have the potential to transform the practice of health care across therapeutic areas from rare monogenic diseases to immunology and oncology, and even to highly prevalent neurological disorders such as Alzheimer’s disease and Parkinson’s disease,” Mr. McClung commented. “With its deep scientific expertise, diverse technology platforms, broad pipeline and significant collaborations, Sangamo is well positioned for this new era, and I’m thrilled to join the Company at this time.”

Stephane Boissel, Executive Vice President of Corporate Strategy, will leave Sangamo at the end of July and eventually return to an entrepreneurial project. Mr. Boissel joined Sangamo in 2018 following the acquisition of TxCell (now Sangamo France), where he had served as CEO.

“Stephane’s impactful contributions to Sangamo will endure for many years. He has driven several remarkable deals to fruition, including most recently our transaction with Biogen, which is among the largest preclinical collaboration deals ever,” Macrae said. “It has been an enormous pleasure working with Stephane these last two years, and we wish him every success in the future.”

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The completion of the Biogen transaction should have helped Sangamo regain some lost ground from the perspective of COVID-19 impacts on the general market conditions. The transition of leadership is a bit old, new song. McClung replacing Boissel is likely not to have any added value. Boissel was named as the deliverer of the Biogen deal, and it is hard to define his specific contribution.

Macrae, in his characteristically overdoing format stated:

“He has driven several remarkable deals to fruition, including most recently our transaction with Biogen, which is among the largest preclinical collaboration deals ever.”

Boissel has sold Macrae TxCell for over $80M in cash. That was pretty remarkable for a company like Sangamo to buy another with cash. A company that could have been purchased for a much smaller amount to avoid bankruptcy.  I can credit Boissel with the two transactions,  but the “several” means more than two. Something not yet clearing the internal, confidential basket was also happening under his watch? Time will tell. Probably just Macrae's desire to make things up bigger than they really are is the reason for several. 

Pfizer, now the full owner of the SB-525, will report or not report on the start of phase 3, which most fear is not going to happen due to pandemic. April was suppose to be the math to start the trial, based on 6 months lead-in study. The update on phase 2, adding two more participants to match BioMarin’s phase 2 count, seem to be continuing, and it will likely extend the timeline as the trial shows recruiting in progress.

Still, it would be nice to see how five patients dosed have managed since the update in October. For some of them, the last six months is a longer period than the one reported in October. What will Pfizer do? A big reason why stock could do well, seem to be no longer in hands of the company. Pandemic took care of the rest, it could be, this entire year is again a loss of time. One can never be optimistic here, so I am not. 

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Mogrify and Sangamo announce collaboration and exclusive license agreement for Mogrify’s iPSC- and ESC-derived regulatory T cells

April 21, 2020 at 7:00 AM EDT
Download PDF
CAMBRIDGE, England & BRISBANE, Calif.--(BUSINESS WIRE)--Apr. 21, 2020-- Mogrify Ltd (Mogrify®), a UK company aiming to transform the development of cell therapies by the systematic discovery of novel cell conversions, and Sangamo Therapeutics (Sangamo) (Nasdaq: SGMO), a genomic medicine company, today announced that they have executed a collaboration and exclusive license agreement for Sangamo to develop allogeneic cell therapies from Mogrify’s proprietary induced pluripotent stem cells (iPSCs) and embryonic stem cells (ESCs) and Sangamo’s zinc finger protein (ZFP) gene-engineered chimeric antigen receptor regulatory T cell (CAR-Treg) technology.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200421005170/en/

“Mogrify is delighted to announce its second commercial deal with a US biopharma and the first in the exciting field of T cell immunotherapy,” said Dr. Darrin M. Disley OBE, CEO, Mogrify. “The combination of Mogrify’s proprietary systematic cell conversion technology and Sangamo’s regulatory T cell platform and proprietary ZFP platform is a natural fit. Sangamo is at the forefront of the development of a world-class engineered ZFP genome editing platform and we are very happy to be partnering with such an innovative company.”

“This license agreement provides Sangamo with access to Mogrify’s cell conversion technology, which will diversify our options as we develop off-the-shelf allogeneic CAR-Treg cell therapies,” said Jason Fontenot, SVP, Head of Cell Therapy at Sangamo. “We expect this collaboration to accelerate our development of scalable and accessible CAR-Treg cell therapies, so that we can potentially deliver treatments to patients with inflammatory and autoimmune diseases more rapidly.”

Mogrify’s technology enables the transformation of any human cell type into any other human cell type. This transformation is achieved using transcription factors or small molecules identified using proprietary big data technologies. iPSCs and ESCs provide an evergreen starting material for the generation of Tregs, and facilitate more complex engineering and greater manufacturing scalability, potentially enabling the resulting therapies to be more cost-effective and thus more accessible to larger patient populations.

Under the terms of the agreement, Mogrify will be responsible for the discovery and optimization of the cell conversion technology from iPSCs or ESCs to regulatory T cells, and Sangamo will be granted exclusive rights to use Mogrify’s technology to create Tregs from iPSCs or ESCs. Sangamo expects to then use its ZFP gene-engineering technology and therapeutic development capabilities to transform these Tregs into novel “off-the-shelf” allogeneic CAR-Treg cell therapy candidates and hopes to take them through clinical development through to registration for the treatment of inflammatory and autoimmune diseases.

Under the terms of the agreement, Sangamo will pay Mogrify an upfront payment. Mogrify is also eligible to receive potential additional payments related to development and regulatory milestones, and product sales.

About Mogrify Direct Cell Conversion Technology

The Mogrify platform (Rackham et al., Nature Genetics, 2016)* takes a systematic big-data approach that leverages data from next-generation sequencing and the construction of gene-regulatory networks (DNA-protein & protein-protein), to identify, the transcription factors (in vitro) or small molecules (in vivo) needed to convert any source human cell type into any target human cell type. The Mogrify platform offers the potential to optimize cell conversions in order to deliver cells that exhibit improved safety, efficacy and scalable manufacturing profiles suitable for development as cell therapies.

*Rackham OJL et al, A predictive computational framework for direct reprogramming between human cell types. Nature Genetics 48(3), 331–335 (2016).

About Sangamo’s Regulatory T cells (Tregs) and CAR-Tregs Technology

Tregs are a subset of T lymphocytes and act as the key regulators of the immune system. They ensure that the immune system does not mistakenly harm healthy organs while still protecting the body from pathogenic microorganisms.

CAR-Tregs are regulatory T cells (or Tregs) which are genetically engineered with a Chimeric Antigen Receptor (CAR) to precisely target sites of autoimmune and inflammatory pathology. Sangamo’s CAR-Treg platform aims to use CAR and zinc finger protein (ZFP) technologies to genetically engineer Tregs ex vivo to treat autoimmune and inflammatory diseases.

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Tuesday, April 28th, Pfizer reports Q1.
Some expectations toward progress on SB-525 can be held. The last update from phase 2 trial had a cutoff data from October. 6 months offer a potent update on stability/durability of the treatment. The 18 months' threshold is still some time away. The 18 months marks the fading of Bio Marin's treatment. For Sangamo, this time frame arrives in June and August.
Perhaps the announcement of phase 3 start could be expected as well. It is hard to have expectations of significant recruitment into a trial.

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Rumor Sanofi is going to buy QURE. A comparable company to SGMO. I wrote an article comparing the two. 

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I have been enjoying a bit of returns on Sangamo. I managed to average in mid 8s, so about 31%, The data release for hemophilia A is still ahead of us. Pfizer is starting the phase 3 in July delayed by the pandemic. Bigen deal worth billions, is going to make the company a multi-billion entity based on targeting Alzheimer's and Parkinson's. It will take time longer than shorter, but when it happens, it could be North of $50 per share. 

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Pfizer is making an update on SB-525, the gene therapy for hemophilia A on June 18th. Since the last update was made in December or so, for data cut off in October, 6 months of data reveal is possible. A confirmation of durability, the levels of FVIII will play important part, no bleeds naturally and so on. 

SGMO has tracked down to $11 from $12, which acts as a natural barrier for the stock, but confirmation of data, phase 3 starting in July will become a strong promoter for move toward $18, in my opinion. 

Fabry has recruited 2 patients, but from recent updates no data will be provided until all three cohorts will be dosed. There is a talk about another partnership, time will tell if one is actually signed. 

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Sangamo rumor mill started on buyout. Big option bids pushing calls to $13 level. Update appears to be positive from here.

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14 hours ago, dydo said:

Sangamo rumor mill started on buyout. Big option bids pushing calls to $13 level. Update appears to be positive from here.

Robert, what buyout price can be offered in your opinion? Thanks!

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9 hours ago, MVA said:

Robert, what buyout price can be offered in your opinion? Thanks!

No idea, the price should be offered is likely above $40 in my estimate.  Stock is heavily manipulated.

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On the notes with Sangamo, Ed Rebar, who was instrumental for the development of the ZFN gene edit and was behind the science of the gene edit for MPS, has left the company. A veteran of the 20 plus years from the beginning of Sangamo as a public company.

I think there are a few implications here.

First, science is secured in the sense of where the company is today.

Second, I have a feeling that gene edit or ZFN 2.0 progression got back burner status; it appears everything is rolling to genome regulation and cell edit. Rebar moved to a mirror position in another company, so it is a scientific objective that matters. 

Third, many hires appeared to eclipse him. In my basic view, he was recently rediscovered and made equal by Sandy Macrae but likely lost the glimmer of importance.

Fourth, those who are looking at the end game, efforts behind closed doors did not produce a lot of final products from the corner of Ed's research. Let's be honest ZFN technology has not got to phase 3. Gene therapy has nothing to do with it, and that is the only indication being in one with Pfizer.

There is also an economic condition. There are 400 patients in MPS II indication in the US. The cost to come out with the working in vivio gene edit product likely take 50% of the cash on hand. Aside from pure satisfaction, hard to see a value-added outcome today. Sure one could see this to be a key to treat other diseases, but things are never that simple. 

I have a strong feeling ZFN 2 is no longer on a list of to-do things. A likely reason why Ed Rebar moved on. If this is the case, SGMO is becoming more concentrated on broad indications and curing bigger targets. The ZFN 2.0 could be the next five-year plan. Time will undoubtedly tell.

 

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PR from Pfizer

https://finance.yahoo.com/news/pfizer-sangamo-announce-updated-phase-130000978.html

— Dosing of the first patient in the pivotal Phase 3 study anticipated in second half of 2020 —

Pfizer Inc. (NYSE:PFE) and Sangamo Therapeutics, Inc. (Nasdaq:SGMO), a genomic medicines company, today announced updated follow-up data from the Phase 1/2 Alta study of giroctocogene fitelparvovec (SB-525, or PF-07055480), an investigational gene therapy for patients with severe hemophilia A. All five patients with severe hemophilia A who received the 3e13 vg/kg dose showed sustained factor VIII (FVIII) activity levels, with a median of 64.2% via chromogenic assay (patient-level geometric means after week 9 post-infusion). No patients experienced bleeding events or required FVIII infusions. The factor VIII activity levels reflect measurements up to 61 weeks, the extent of follow-up for the longest-treated patient in the cohort. These data are being presented today as a late-breaking oral abstract at the World Federation of Hemophilia 2020 World Congress, which is being held virtually from June 14 to June 19, 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200618005091/en/

Giroctocogene fitelparvovec was generally well tolerated. As previously reported, one patient in the 3e13 vg/kg dose cohort had a treatment-related serious adverse event of hypotension (grade 3) and fever (grade 2), with symptoms of headache and tachycardia, which occurred six hours post-infusion with giroctocogene fitelparvovec, and which fully resolved within 24 hours. No other treatment-related serious adverse events were reported. Among the five patients in the 3e13 vg/kg dose cohort, four received corticosteroids for liver enzyme (alanine aminotransferase, ALT) elevations. Three patients had subsequent ALT elevations that responded to corticosteroids. All episodes of ALT elevations fully resolved with oral corticosteroids.

"We are excited that these data affirm previous findings from this Phase 1/2 study, and that all five patients have sustained levels of factor VIII activity with no bleeding events or use of factor replacement therapy. We are encouraged by the potential of giroctocogene fitelparvovec to demonstrate longer-term durability, an important element for patients living with severe hemophilia A," said Seng Cheng, Senior Vice President and Chief Scientific Officer of Pfizer’s Rare Disease Research Unit. "The Phase 3 lead in study is ongoing, and we look forward to dosing patients with this investigational gene therapy in the pivotal Phase 3 trial later this year."

"The current standard of care for severe hemophilia A requires regular infusions to replace missing Factor VIII. Gene therapy, on the other hand, offers a new approach with the potential to provide a one-time treatment that would enable patients to produce the missing factor on their own," said Bettina M. Cockroft, M.D., M.B.A., Chief Medical Officer of Sangamo. "These follow-up data indicate that treatment with giroctocogene fitelparvovec resulted in sustained factor levels up to 14 months following treatment and suggests the potential of this investigational gene therapy to alleviate the treatment burden of current hemophilia disease management."

The additional follow-up builds on data presented at the 61st Annual Meeting of the American Society of Hematology (ASH) in December 2019, which demonstrated that giroctocogene fitelparvovec was generally well tolerated and resulted in sustained FVIII levels up to 44 weeks, the extent of follow-up for the longest-treated patient in the 3e13 vg/kg dose cohort at that time. The previously presented data included 11 patients treated across four ascending dose cohorts: 9e11 vg/kg (2 patients), 2e12 vg/kg (2 patients), 1e13 vg/kg (2 patients) and 3e13 vg/kg (5 patients). Pfizer and Sangamo plan to present further follow-up data from the Alta study when all five patients in the 3e13 vg/kg dose cohort have been followed for at least one year.

About the Alta study

The Phase 1/2 Alta study is an open-label, dose-ranging, multicenter clinical trial designed to assess the safety and tolerability of giroctocogene fitelparvovec in patients with severe hemophilia A. The mean age of the 11 patients assessed across four dose cohorts is 30 years (range 18-47 years). All 11 patients are male. The U.S. Food and Drug Administration has granted Orphan Drug, Fast Track, and regenerative medicine advanced therapy (RMAT) designations to giroctocogene fitelparvovec, which also received Orphan Medicinal Product designation from the European Medicines Agency. Giroctocogene fitelparvovec is being developed as part of a collaboration agreement for the global development and commercialization of gene therapies for hemophilia A between Sangamo and Pfizer.

About giroctocogene fitelparvovec

Giroctocogene fitelparvovec (SB-525 or PF-07055480), comprises a recombinant adeno-associated virus serotype 6 vector (AAV6) encoding the complementary deoxyribonucleic acid for B domain deleted human FVIII. The giroctocogene fitelparvovec expression cassette was designed for optimal liver-specific expression of FVIII protein and supports production of high yields of the vector. The giroctocogene fitelparvovec transcriptional cassette incorporates multi-factorial modifications to the liver-specific promoter module, FVIII transgene, synthetic polyadenylation signal and vector backbone sequence.

In late 2019, Sangamo transferred the manufacturing technology and the Investigational New Drug (IND) application to Pfizer. Pfizer is enrolling patients in the Phase 3 lead-in study (ClinicalTrials.gov Identifier: NCT03587116), the data from which is expected to provide a baseline for patients who are subsequently enrolled into the pivotal Phase 3 study (ClinicalTrials.gov Identifier: NCT04370054). The primary endpoint of the Phase 3 study is annualized bleeding rate (ABR) over 12 months, and secondary endpoints include steady state FVIII activity levels, annualized infusion rate of exogenous FVIII activity, annualized FVIII consumption, ABR and total ABR of specific type by cause and by location, and change in joint health using Hemophilia Joint Health Score, over 12 months.

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34 minutes ago, Jetmoney said:

Investors do not seem to be impressed with the news?  Stock price drops 8%.

I share the sentiment. From best in class to meh. Very little between now and anything internal. P 3 till 2022 and marketing perhaps in 2023.

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2 hours ago, dydo said:

I share the sentiment. From best in class to meh. Very little between now and anything internal. P 3 till 2022 and marketing perhaps in 2023.

But the stock is oversold. Pfizer will make the treatment work. Start of P3 will pay SGMO, and they also said they will try to accelerate. While I am not seeing bets in class, I flipped back to have SGMO at low 9s.

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Hi Marty,
Yes, the result was not what was expected.
BioMarin’s median level of the factor at year one was 60. At 28 weeks, Pfizer looks to me like that is patient #10, tracking over 60, then you have week 36, patient #11 is not there, leaving it between #7 and #10. 7 is way up there close to 125, while 10 slipped below 50. It appears to me when all hit a year, the 60 achieved by BioMarin will be better because #10 is becoming a median and has fallen under 50.So the only better is hopefully no bleeds. There is also a tremendous amount of variable. Of course, nobody knows what variable was for BMRN. The ALT episodes seem to drop the activity. If there is steroid use, perhaps it can regulate levels of factor avoiding drops, but if one does not need it, since no bleeds or need for replacement, then why bother.The stock sold on unmet expectations, forgetting it is up to Pfizer, to design phase 3, and come up with perhaps even a higher dose and use of steroids to prevent the reduction of factor activity. Also, the lead-in study could answer questions on what characteristics of a patient the treatment would have the most success.
I think, since the AFFINE showed up at the end of April and updated in May, Pfizer/Sangamo knew March results already. The decision to start in July was based on the update we saw Thursday. I think this is positive, as Pfizer can manage the design, and they have trial experience and resources surpassing Sangamo.
I imagine September all are over 52 weeks; likely December ASH will be the forum to discuss it. We will not know what Pfizer is doing in phase 3; nobody knows what is happening to hemophilia B, so I see no difference here.
Do you see anything else come up between now and then? I assumed all trials would be postponed.I also think that ZFN 2.0 is not happening. Ed Rebar was leaving, and I cannot think of any other reason but everyone focusing on Biogen and moving resources away from MPS II. The indication is missing from the corporate deck. I imagine Sangamo is going after diseases with significant prevalence. So cell edit and gene regulation will be the action. I doubt we will see gene therapy either, beyond Fabry. Gene therapy is not ZFN, and the company is ZFN. It makes sense to focus on those. Small genetic diseases are too expensive to address with the budgets of Sangamo.
 

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On 6/18/2020 at 4:03 PM, dydo said:

But the stock is oversold. Pfizer will make the treatment work. Start of P3 will pay SGMO, and they also said they will try to accelerate. While I am not seeing bets in class, I flipped back to have SGMO at low 9s.

Spending couple of days studying SGMO, came to conclusion that there is no catalyst in the immediate future to affect price positively... So, I bet on price to move further down to $7 level and then I will enter... Although some good development I see in metal stocks. $1 tril. infrastructure plan can lift them up bigly in the next month or two... Current price of every stock always reflects all known (past/current/future information and news about it). I guess the best way to succeed in the market is to find positive catalysts in the future, which are not known or expected by general public at present time...

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On 6/21/2020 at 6:58 AM, MVA said:

Spending couple of days studying SGMO, came to conclusion that there is no catalyst in the immediate future to affect price positively... So, I bet on price to move further down to $7 level and then I will enter... Although some good development I see in metal stocks. $1 tril. infrastructure plan can lift them up bigly in the next month or two... Current price of every stock always reflects all known (past/current/future information and news about it). I guess the best way to succeed in the market is to find positive catalysts in the future, which are not known or expected by general public at present time...

I think I would agree. Lack of the catalyst, dictates price in this situation. I think $7 is likely. I have folded my position. Own MEIP and SELB.

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My entry price target was $7.5/share... My bad... I missed the opportunity to enter at $8.5/share... 

SunTrust Robinson just initiated coverage on the gene therapy specialist with a "buy" rating and a price target of $22

https://www.schaeffersresearch.com/content/news/2020/07/07/gene-therapy-stock-moves-higher-on-analyst-upgrade

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On 7/7/2020 at 1:53 PM, MVA said:

My entry price target was $7.5/share... My bad... I missed the opportunity to enter at $8.5/share... 

SunTrust Robinson just initiated coverage on the gene therapy specialist with a "buy" rating and a price target of $22

https://www.schaeffersresearch.com/content/news/2020/07/07/gene-therapy-stock-moves-higher-on-analyst-upgrade

If it goes to $22, what does it matter? 

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