Sangamo Jumps Amid New Public Offering

Joel Anderson |

Sangamo BioSciences (SGMO) announced a public offering of 6.1 million shares of common stock today, helping spark a morning jump in share price of over 4 percent. The offering, which was initially propsed yesterday afternoon, set a price at $10.58 a share, yesterday’s closing price, and is expected to raise about $65 million before underwriting expenses are deducted. Sangamo has also given underwriters an additional 30-day option to sell 915,000 more shares on the same terms to cover any over-allotments. The offering has Lazard Capital Markets LLC (LAZ) , JMP Securities LLC (JMP) , and Piper Jaffray & Co. (PJC) working as joint book-running managers and Cowen and Company, LLC (COWN) as the co-lead manager.

Potential Cure for HIV/AIDs

Sangamo intends to invest this fresh injection of cash into general corporate purposes, including its continuing research into gene therapies. Sangamo’s research is focusing on using zinc finger DNA-binding proteins to drive therapeutic outcomes. In some of its most exciting research, Sangamo is working on what could potentially be a functional cure for HIV/AIDs: SB-728. The treatment would remove infected white blood cells from HIV-positive patients, remove the protein gateways that allow HIV to infect the immune cells, and return them to the patients. Over time, the expectation would be that these HIV-resistant white blood cells would multiply and be able to fight off infections that result from HIV. Sangamo currently has ongoing Phase 2 and Phase 1/2 clinical trials to evaluate the safety and efficacy of this possible treatment.

Bump Comes Amid Strong Year for Sangamo

Today’s bump comes amid a strong year for Sangamo. Year-to-date, Sangamo’s stock has gained some 85 percent from where it ended 2012. News of the stock offering comes on the heels of news last Thursday of data from its ongoing Phase 2 trial that demonstrated functional control of the virus at or below the limit of detection for HIV-infected subjects treated with SB-728-T. It was announced as a “late-breaker” presentation at the 53rd Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC).

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
LAZ Lazard LTD. LTD. Class A 53.27 0.09 0.17 642,686 Trade
JMP JMP Group LLC 5.30 0.04 0.76 10,143 Trade
COWN Cowen Group Inc. 14.40 0.15 1.05 289,384 Trade
SGMO Sangamo Therapeutics Inc. 24.95 -0.45 -1.77 3,830,383 Trade
PJC Piper Jaffray Companies 86.20 1.10 1.29 137,065 Trade
DRIFF Xiana Mining Inc Ord 0.34 0.00 0.00 0


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