Sangamo Biosciences, Inc. (NASDAQ:SGMO), a leader in therapeutic genome editing, announced today that non-human primate data from its proprietary In Vivo Protein Replacement Platform (IVPRP™) program for hemophilia B, and data from its ZFP Therapeutic® hemoglobinopathy programs in collaboration with Biogen, will be presented at the 57th Annual Meeting of the American Society of Hematology (ASH). The 2015 ASH meeting will be held in Orlando, FL from December 5-8, 2015.
“Our presentations at this year’s ASH meeting highlight the breadth of our highly specific genome editing platform in both in vivoand ex vivo therapeutic applications,” said Edward Lanphier, Sangamo’s president and chief executive officer. “Data from non-human primates generated in our Factor IX program for hemophilia B demonstrate the potential of our IVPRP strategy to produce clinically beneficial levels of therapeutic protein from a single treatment. We, and our collaborators at Biogen, will also present data from our hemoglobinopathy programs in beta-thalassemia and sickle cell disease, which use an efficient ZFN-mediated knockout approach in hematopoietic stem cells to elevate functional globin to provide a potentially life-long therapeutic effect.”
Sangamo’s hemophilia B program is the first therapeutic application of its IVPRP strategy, an in vivo targeted integration strategy that can be leveraged across multiple monogenic diseases that are currently treated using protein or enzyme replacement therapy. Sangamo remains on track to file Investigational New Drug (IND) applications for hemophilia B (Factor IX) and Hurler syndrome (MPS I) by the end of 2015, and several more IND applications, including hemophilia A, Hunter syndrome (MPS II), Gaucher disease and other lysosomal storage disorders in 2016.
Sangamo is collaborating with Biogen to develop a ZFP Therapeutic approach to beta-thalassemia and sickle cell disease (SCD) that replaces deficient expression of the mutant, disease-causing form of beta-globin with expression of functional fetal globin. The companies expect to file IND applications for beta-thalassemia in the first half of 2016 and for SCD in the second half of 2016. (Original Source)
Shares of Sangamo Biosciences closed today at $7.71, down $0.07 or 0.90%. SGMO has a 1-year high of $19.25 and a 1-year low of $5.30. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $9.43.
On the ratings front, Sangamo has been the subject of a number of recent research reports. In a report issued on September 28, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on SGMO, with a price target of $17, which implies an upside of 114.4% from current levels. Separately, on September 4, 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, Charles Duncan and Ritu Baral have a total average return of 13.4% and 19.5% respectively. Duncan has a success rate of 52.1% and is ranked #362 out of 3824 analysts, while Baral has a success rate of 50.0% and is ranked #80.
The street is mostly Bullish on SGMO stock. Out of 4 analysts who cover the stock, 4 suggest a Buy rating . The 12-month average price target assigned to the stock is $21.00, which represents a potential upside of 165% from where the stock is currently trading.
Sangamo BioSciences Inc is a clinical stage biopharmaceutical company. The Company is engaged in the research, development & commercialization of engineered DNA-binding proteins for the development of novel therapeutic strategies for unmet medical needs.