Sangamo Biosciences, Inc. (NASDAQ:SGMO) announced that the U.S. Food and Drug Administration (FDA) has cleared the company’s Investigational New Drug application (IND) for its SB-525 gene therapy program for the treatment of hemophilia A. The IND is now active and enables clinical development to assess the safety, tolerability and potential efficacy of SB-525 in adults with hemophilia A.
“We are very pleased to begin 2017 with the announcement of an open IND for our SB-525 cDNA gene therapy and intend to initiate a clinical trial evaluating SB-525 as soon as possible,” said Sandy Macrae, M.B., Ch.B., Ph.D., CEO of Sangamo. “We are committed to developing the best therapeutic options for patients, and based on non-human primate studies, SB-525 has demonstrated the potential to be the best-in-class treatment for Hemophilia A.”
SB-525 is one of four lead development programs for which Sangamo is planning to conduct clinical trials in 2017. Sangamo is evaluating SB-FIX, an in vivo genome editing therapy for hemophilia B, in a Phase 1/2 clinical trial, with sites currently screening patients for the study. This year Sangamo will also conduct two Phase 1/2 clinical trials evaluating in vivo genome editing therapies for lysosomal storage disorders MPS I (SB-318) and MPS II (SB-913). (Original Source)
Shares of Sangamo Biosciences closed yesterday at $3.50. SGMO has a 1-year high of $8.13 and a 1-year low of $2.65. The stock’s 50-day moving average is $3.30 and its 200-day moving average is $4.44.
On the ratings front, Sangamo Biosciences has been the subject of a number of recent research reports. In a report issued on November 1, Wedbush analyst Liana Moussatos downgraded SGMO to Hold, with a price target of $4, which represents a potential upside of 14% from where the stock is currently trading. Separately, on October 27, Cowen’s Ritu Baral reiterated a Buy rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and Ritu Baral have a yearly average return of 8.1% and 3.3% respectively. Moussatos has a success rate of 40% and is ranked #406 out of 4369 analysts, while Baral has a success rate of 38% and is ranked #1037.
Overall, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $4.00 which is 14.3% above where the stock closed yesterday.
Sangamo BioSciences, Inc. researches and develops transcription factors in the regulation of genesoperates. It focuses on the research, development and commercialization of engineered DNA-binding proteins for therapeutic genome editing and gene regulation technology platform is enabled by the engineering of a class of transcription factors known as zinc finger DNA-binding proteins. The company was founded by Lanphier O. Edward II on June 22, 1995 and is headquartered in Richmond, CA.