Sangamo Shares Down 8% After Hours as Novartis, Biogen End Collaborations
18 March 2023 - 10:15AM
Dow Jones News
By Josh Beckerman
Sangamo Therapeutics Inc. shares were down 8% to $1.84 after
hours as the company said Novartis AG and Biogen Inc. terminated
collaboration and license agreements.
Sangamo and Novartis said in July 2020 that they would
collaborate on gene regulation therapies to address three
neurodevelopmental targets, including autism spectrum disorder.
Under a February 2020 agreement with Biogen, the companies
collaborated on gene regulation therapies to treat neurological
diseases.
Sangamo said it doesn't expect the terminations to affect its
estimate in its Form 10-K that available cash, cash equivalents,
and marketable securities will be adequate to fund its operations
for at least 12 months.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 17, 2023 19:00 ET (23:00 GMT)
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