Sangamo BioSciences (SGMO) Reports Encouraging Early Data for ZFN Gene Edited Cell Therapy - Wells Fargo

Wells Fargo analyst Yanan Zhu reiterated an Overweight rating and $29.00 price target on Sangamo BioSciences (NASDAQ: SGMO) after the company announced that EMA’s Committee for Orphan Medicinal Products (COMP) had released details supporting the Orphan Designation for BIVV003, an autologous BCL11A erythroid enhancer-targeted CD34+hematopoietic stem and progenitor cell (HSPC) therapy partnered with Sanofi. The committee’s decision to grant orphan designation was partially based on early data from 3SCD patients treated in the phase 1/2 PRECIZN-1 study of BIVV003.

The analyst stated "SGMO and Sanofi expect to submit updated data from the PRECIZN-1 study for presentation at a medical meeting later this year, with a concurrent update on the phase 1/2 THALES study of ST-400, another BCL11A-targeted CD34+ HSPC therapy,in transfusion-dependent beta-thalassemia (n=5 dosed). Recall, data from THALES were last reported at the 2019 ASH meeting, and no additional subjects are to be enrolled into THALES until data from PRECIZN-1 and THALES have been collected and analyzed."

For an analyst ratings summary and ratings history on Sangamo BioSciences click here. For more ratings news on Sangamo BioSciences click here.

Shares of Sangamo BioSciences closed at $11.86 yesterday.

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