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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.

Results for SGMO
iHugo Albert
18 Apr 14 12:56:15
$SGMO Recently Released Market Study: Sangamo BioSciences, Inc. - Product Pipeline ... http://t.co/dd7x6LBzT9
Ticker Report
18 Apr 14 09:12:52
Insider Selling: Sangamo Biosciences CEO Sells 25,000 Shares of Stock $SGMO http://t.co/hRJKNNhvyo
iHugo Albert
18 Apr 14 01:03:15
$SGMO Short Interest in Sangamo Biosciences Drops By 14.5% (SGMO) http://t.co/39m0FFJffa
Stock_Tracker
17 Apr 14 21:03:06
Sangamo Biosciences (SGMO) 13.99 $SGMO Sangamo Biosciences Has Returned 26.3% Since SmarTrend Recommendation ( http://t.co/blSPi1JTOf
$Stocknewsalerts
17 Apr 14 17:15:33
$SGMO New SEC Document(s) for Sangamo BioSciences, Inc.
World Patents Mapped
17 Apr 14 12:38:01
T Cell Modifying Compounds And Uses Thereof $SGMO #C12N #C12N15 http://t.co/ynaFukNlBP http://t.co/DBqZTSuW79
Market Int Center
17 Apr 14 08:32:29
Sangamo Biosciences $SGMO Showing Resistance Near $14.97 ( http://t.co/iy6vdmyAUq )
NoanetTrader
17 Apr 14 04:03:49
Today's Top Picks: $STX $SGMO $ANGI more... http://t.co/sw3Lfm0iCu
iHugo Albert
17 Apr 14 01:59:05
$SGMO Sangamo Biosciences Sees Significant Decrease in Short Interest (SGMO) http://t.co/DDvCPFGm4z
iHugo Albert
17 Apr 14 00:45:34
$SGMO Nasdaq stocks posting largest percentage increases http://t.co/L9G86gRCED
US Banking News
17 Apr 14 00:15:05
Sangamo Biosciences Sees Significant Decrease in Short Interest $SGMO http://t.co/OIgp0hV9iK
LifeSciRcruitr
16 Apr 14 12:57:44
RT @cbtadvisors: Using CRISPR 2 "edit" specific loci in human genes is DNA:DNA, not protein:DNA like $SGMO zinc fingers, acc. to Bitterman …
Tony Martignetti
16 Apr 14 12:56:38
RT @cbtadvisors: Using CRISPR 2 "edit" specific loci in human genes is DNA:DNA, not protein:DNA like $SGMO zinc fingers, acc. to Bitterman …
Steven Dickman
16 Apr 14 12:56:02
Using CRISPR 2 "edit" specific loci in human genes is DNA:DNA, not protein:DNA like $SGMO zinc fingers, acc. to Bitterman of Editas #xconBio
Market Int Center
16 Apr 14 09:27:29
Potential Sangamo Biosciences $SGMO Trade Has 24.61% Downside Protection ( http://t.co/4aZdQ4x92W )
Dr. Zoidberg
15 Apr 14 10:14:37
Genome editing with Cas9 in adult mice corrects a disease mutation and phenotype http://t.co/Fq7DdQkhlq $SGMO et al
SNN Team
15 Apr 14 06:53:05
$SGMO - Valuation Doesnt Equal Share Price (and That Goes Double for Biotech) -> http://t.co/DSq9INnon4 #stock #stocks #stockaction
Market Int Center
14 Apr 14 13:22:00
Potential Sangamo Biosciences $SGMO Trade Has 37.86% Downside Protection ( http://t.co/iaRBt49UJF )
Ticker Report
11 Apr 14 19:41:59
Insider Selling: Sangamo Biosciences CFO Sells 15,000 Shares of Stock $SGMO http://t.co/JxlrsyHHk3
US Banking News
11 Apr 14 19:26:11
Insider Selling: Sangamo Biosciences CFO Sells 15,000 Shares of Stock $SGMO http://t.co/9MKwNFR0xe
$Stocknewsalerts
11 Apr 14 17:15:52
$SGMO New SEC Document(s) for Sangamo BioSciences, Inc.
Large Void Bot
11 Apr 14 17:10:03
$SGMO Apr 10, CFO Sells 15000 (-2000 Net) Shrs; Net: -135.31k; Acq'd: 13000 7.73/s; Disp'd: 15000 15.72/s
Gary Hudson
11 Apr 14 04:00:07
Cramer's Lightning Round - The IPOs Are A Curse On The Market (4/10/14) $BMRN $SCI $MHR $SFY $CSV $SGMO #ipo http://t.co/DRdHkZy8yK
Seeking Alpha
11 Apr 14 03:25:54
Cramer's Lightning Round - The IPOs Are A Curse On The Market (4/10/14) http://t.co/DZub9TIP6W $BMRN $SCI $MHR $SFY $CSV $SGMO
				
				
By  +Follow January 9, 2014 12:51PM
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