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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
Speculative Trader
18 Sep 14 19:48:54
RT @DaggerHookTrade: http://t.co/9413JmHATF $pbio pressure biosciences ceo video interview $rgdo $nbix $sgmo $cndo $isr $bdx $tmo #biotech…
pennystock seeker
18 Sep 14 18:42:54
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18 Sep 14 18:18:04
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chartseer
18 Sep 14 15:55:46
$SGMO (short) http://t.co/BnVLIXmQ7m
BidWhack/AskSlap
18 Sep 14 15:00:36
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Equities.com
18 Sep 14 14:07:52
Sangamo BioSciences Inc. (SGMO) Drops 5.09% on September 18 $SGMO http://t.co/TROFmYgRTY
Viral Pennies
18 Sep 14 13:51:30
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Jack Trader
18 Sep 14 12:01:30
$SGMO J.P. Morgan Sees Sangamo Biosciences, Inc. As Attractive Investment Opportunity http://t.co/C7xMTtQyT5
Ticker Report
18 Sep 14 11:32:54
Sangamo Biosciences Stock Price Down 4% on Insider Selling $SGMO http://t.co/kfeAldpcLx
OptionCast
18 Sep 14 11:26:25
Highest Put/Call ratios today $SGMO $NBG $AMD $FDO http://t.co/Kz8uk3luGI
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18 Sep 14 11:20:02
Sangamo Biosciences Stock Price Down 4% on Insider Selling $SGMO http://t.co/uqZIBfJRsr
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18 Sep 14 08:43:57
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Ticker Report
18 Sep 14 08:31:07
Sangamo Biosciences CEO Sells $303,500 in Stock $SGMO http://t.co/w1RKVOktLz
James P Worthy
18 Sep 14 06:31:09
$SGMO Sangamo Biosciences, Inc. Is Preparing To Drop Big http://t.co/BM4iyTlZB0
US Banking News
17 Sep 14 19:31:30
Insider Selling: Sangamo Biosciences CEO Sells 25,000 Shares of Stock $SGMO http://t.co/PKegL3aXmV
4-traders.com
17 Sep 14 17:25:02
Sangamo BioSciences : Announces Target Date For First IND For Sangamo's In Vivo ZFN Genome-Editing Platform... http://t.co/EzCPcNw7nl $SGMO
chartguy89
17 Sep 14 17:25:01
SGMO 12.37 Stock Charts $SGMO Sangamo BioSciences Inc. (NASDAQ) Last Updated: 09/17/2014 19:25:07 SGMO Stock C http://t.co/68n5vPtjOh
Phil Martin
17 Sep 14 17:23:18
$SGMO http://t.co/Xw2DAFs7oh
$Stocknewsalerts
17 Sep 14 17:15:47
$SGMO New SEC Document(s) for Sangamo BioSciences, Inc. From our Stock News Alerts App
4-traders.com
17 Sep 14 12:25:02
Sangamo BioSciences : Announces Presentation At ICAAC of New Clinical Data Demonstrating Sustained Function... http://t.co/jfsIAbtc1J $SGMO
OptionCast
17 Sep 14 11:12:54
Highest Put/Call ratios today $SGMO $NBG $AMD $FDO http://t.co/S0AI0UmAqA
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17 Sep 14 08:42:24
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Hank
17 Sep 14 08:36:00
$SGMO has had buyers every time its dipped below 12 since May
Mike Robinson
17 Sep 14 04:52:23
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17 Sep 14 02:31:19
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Emory Redd
16 Sep 14 18:18:30
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Jack Trader
16 Sep 14 14:31:44
$SGMO Sangamo Biosciences, Inc. Is Preparing To Drop Big http://t.co/oQL07gDmNu
Daily Contracts
16 Sep 14 14:01:00
Real-Time feed of company contracts, original agreements and executive updates from Sangamo BioSciences, Inc. $SGMO http://t.co/eXZLQONQKL
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16 Sep 14 12:45:00
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16 Sep 14 11:20:53
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Lori Weiman
16 Sep 14 09:28:44
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US Banking News
16 Sep 14 09:27:17
Sangamo Biosciences CFO Henry Ward Wolff Unloads 2,000 Shares $SGMO http://t.co/0PaM35fgKh
Jeff Wright
16 Sep 14 09:09:04
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16 Sep 14 08:50:14
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16 Sep 14 08:48:13
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16 Sep 14 08:43:24
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15 Sep 14 12:02:54
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Daily Contracts
15 Sep 14 08:53:07
Real-Time feed of company contracts, original agreements and executive updates from Sangamo BioSciences, Inc. $SGMO http://t.co/eXZLQONQKL
Bao Tran
15 Sep 14 08:29:06
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US Banking News
15 Sep 14 05:56:22
Insider Selling: Sangamo Biosciences CFO Sells 2,000 Shares of Stock $SGMO http://t.co/aB4oCtWO3E
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14 Sep 14 05:55:45
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Arnaud Ballesté
13 Sep 14 13:52:13
3 stocks to look at : $SGMO $SINA $CNAT
US Banking News
12 Sep 14 21:00:02
Sangamo Biosciences CFO Henry Ward Wolff Sells 2,000 Shares $SGMO http://t.co/xTYhfAKl45
US Banking News
12 Sep 14 19:56:27
Insider Selling: Sangamo Biosciences CFO Sells 2,000 Shares of Stock $SGMO http://t.co/eiC7jRC9aD
$Stocknewsalerts
12 Sep 14 17:15:43
$SGMO New SEC Document(s) for Sangamo BioSciences, Inc. From our Stock News Alerts App
Large Void Bot
12 Sep 14 17:10:03
$SGMO Sep 10, CFO Sells 2000 Shrs; Net: -24.62k; Acq'd: 0; Disp'd: 2000 12.31/s
r.s_analytics
12 Sep 14 06:41:12
$SGMO $BIIB $ABBV $SIAL $DOW $PFE: Sangamo Biosciences is looking good for EOY and 2015:http://t.co/e5tN25x9Rl
				
				
By  +Follow January 9, 2014 12:51PM
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