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Sangamo BioSciences (SGMO) Hits 10-Year High on Deal with Biogen (BIIB)

By  +Follow January 9, 2014 12:51PM
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Shares in Richmond, CA-based clinical stage biopharmaceutical company Sangamo BioSciences (SGMO) spiked nearly 35 percent on Thursday on news of a partnership with Biogen Idec (BIIB) to develop treatments for disorders affecting hemoglobin.

Biogen made an initial payment of $20 million to Sangamo as part of a deal that will total some $300 million in funding as well as double-digit royalties for Sangamo.

Lucrative Deal Drives SGMO to 10-Year High

On the whole, the size and generosity of the deal appear to make this a major win for Sangamo.

"The deal terms are very lucrative for a pre-clinical platform,” said Wedbush analyst Liana Moussatos. “So I think Biogen must have been impressed with the pre-clinical data that Sangamo presented last month."

The spike drove Sangamo to close to $19 a share, its highest level since 2001. It also passed the previous five-year high the company reached when shares were touching $18.50 in 2007.

Hemoglobin Disorders Affect Blood’s Ability to Carry Oxygen

Hemoglobin is the component of blood that carries oxygen, and disorders affecting hemoglobin include sickle cell disease and beta thalassemia. Both are very serious conditions and included in the category known as hemoglobinopathies.

Sangamo has developed technology to replace defective genes in patients with a corrective one, and Biogen appears to believe that this method has the potential to create one treatment for both diseases.

Sangamo will be responsible for research and development of the treatment up to the initial proof-of-concept trial.

SGMO Product Pipeline Could Have Potential

While Thursday’s announced partnership clearly took Sangamo to new levels, boosting the company’s market cap from $843.57 million to almost $1.15 billion in a matter of hours, the company has several treatments in its product pipeline that could also be major developments.

Most notable is lead therapy SB-728, which has the potential to develop into a functional cure for HIV/AIDS. The treatment would function by drawing immune cells, removing the protein pathway used by HIV to infect them, and then returning them to the patient’s bloodstream.

Sangamo’s promise appears to have won over investors, with the stock jumping over 130 percent despite the company failing to turn a profit and garnering revenues under $25 million in each of the last five years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SGMO
OTCADDICT
22 Oct 14 20:38:06
RT @rbalerts: http://t.co/DnoosBNZqw $pbio pressure biosciences ceo video interview $rgdo $nbix $sgmo $cndo $isr $bdx $tmo #biotech #stock…
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22 Oct 14 15:08:51
$SGMO: Sangamo BioSci beats by $0.02, beats on revs; reaffirms FY14 revs guidance http://t.co/QfnbYeGwVV
MarketCurrents
22 Oct 14 14:59:27
Sangamo BioSciences revises guidance after Q3 results http://t.co/bgF834FlIq $SGMO
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22 Oct 14 14:07:19
RT @ForTraders: Sangamo BioSciences : Reports Third Quarter 2014 Financial Results http://t.co/AuFV1DS8ra $SGMO
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22 Oct 14 14:00:46
Popular: $SKX, $FTNT, $MLNX, $V, $ORLY, $TSCO, $NOW, $CAKE, $CTXS, $INFN, $INTU, $PLCM, $TYL, $SCSS, $BCR, $ALGT, $ADHD, $SGMO
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22 Oct 14 14:00:04
Sangamo BioSciences : Reports Third Quarter 2014 Financial Results http://t.co/AuFV1DS8ra $SGMO
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22 Oct 14 13:58:05
@agfinancialmgt Your estimate for $SGMO Q3 2014 has been scored – http://t.co/9PbHLHBjdq
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22 Oct 14 13:55:06
Sangamo BioSciences (SGMO) Q3 2014 Results - Earnings Call Webcast http://t.co/3lgUgf0P31 $SGMO
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22 Oct 14 13:51:16
Listen to $SGMO Q3 2014 earnings call - live at 05:00 PM, ondemand after - http://t.co/1YRqlDqY15
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22 Oct 14 13:46:13
$SGMO New SEC Document(s) for Sangamo BioSciences, Inc. From our Stock News Alerts App
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22 Oct 14 13:43:56
Sangamo Biosciences $SGMO Announces Quarterly Earnings, Misses Estimates By $0.07 EPS http://t.co/ZoytEgw8Xp
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22 Oct 14 13:43:21
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22 Oct 14 13:34:25
$SGMO - Current Report Filing (8-k) http://t.co/ldX6g4Fwpa
Stocks News&Markets
22 Oct 14 13:34:14
$SGMO - Current Report Filing (8-k) http://t.co/zx5icLD9ff
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22 Oct 14 13:33:08
SANGAMO BIOSCIENCES INC $SGMO 8-K now available
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22 Oct 14 13:25:56
Sangamo Biosciences $SGMO Announces Quarterly Earnings, Misses Expectations By $0.07 EPS http://t.co/ZDhikJKUGZ
Jason Aycock
22 Oct 14 13:16:31
Sangamo BioSciences beats by $0.03, beats on revenue http://t.co/KMB1b01Qrl $SGMO
US Banking News
22 Oct 14 13:15:26
Sangamo Biosciences announces earnings. ($0.11) EPS. Misses estimates. $12.40m revenue. http://t.co/E60LagLQg3 $SGMO #SGMO
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22 Oct 14 13:08:58
$SGMO received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 580
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22 Oct 14 13:08:55
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MarketCurrents
22 Oct 14 13:08:48
Sangamo BioSciences beats by $0.03, beats on revenue http://t.co/ylqAAmLGVD $SGMO
Brad Loncar
22 Oct 14 13:05:37
Very minor change though. $SGMO
Brad Loncar
22 Oct 14 13:05:26
$SGMO increased guidance for 2014 operating expense by a little (about $5M) and lowered guidance for EOY cash on hand http://t.co/eBUTYZm6dP
$Stocknewsalerts
22 Oct 14 13:05:06
$SGMO Sangamo BioSciences Reports Third Quarter 2014 Financial Results From our Stock News Alerts App
Stocks News&Markets
22 Oct 14 13:04:37
$SGMO - Sangamo BioSciences Reports Third Quarter 2014 Financial Results http://t.co/U9mKdVqKXN
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22 Oct 14 13:04:30
$SGMO - Sangamo BioSciences Reports Third Quarter 2014 Financial Results http://t.co/SLY95TAWUM
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22 Oct 14 13:04:21
$SGMO Sangamo BioSciences Reports Third Quarter 2014 Financial Results.. http://t.co/JhCbW8Cbqr
NASDAQ
22 Oct 14 13:04:19
$SGMO - Sangamo BioSciences Reports Third Quarter 2014 Financial Results http://t.co/ZsWCqq1iXl
MAISA
22 Oct 14 13:03:36
$SGMO Sees Cash, Equivalents, Securities At Least $220 Million at 2014 End
MAISA
22 Oct 14 13:03:19
$SGMO Backs 2014 Rev $45M-$50M
MAISA
22 Oct 14 13:03:03
$SGMO 3Q Loss $7.55M
Daily Contracts
22 Oct 14 12:52:00
Real-Time feed of company contracts, original agreements and executive updates from Sangamo BioSciences, Inc. $SGMO http://t.co/eXZLQONQKL
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22 Oct 14 08:28:00
Real-Time feed of company contracts, original agreements and executive updates from Sangamo BioSciences, Inc. $SGMO http://t.co/eXZLQONQKL
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22 Oct 14 06:40:52
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22 Oct 14 06:14:01
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21 Oct 14 21:53:04
The Most Popular Tweets Pertaining to $SGMO (Sangamo Biosciences Inc symbol SGMO) on 10/22/2014 http://t.co/9IoM6dwhTQ
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21 Oct 14 18:15:43
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21 Oct 14 15:31:39
$SGMO Sangamo Biosciences (SGMO) to Release Quarterly Earnings on Wednesday http://t.co/y5dKcoBugG
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21 Oct 14 15:31:38
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20 Oct 14 22:35:50
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20 Oct 14 15:44:33
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By  +Follow January 9, 2014 12:51PM
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