Why Sangamo Therapeutics Stock Is Soaring
Portfolio Pulse from Erica Kollmann
Sangamo Therapeutics (NASDAQ:SGMO) shares surged after announcing a license agreement with Genentech to develop genomic medicines for neurodegenerative diseases. The deal includes $50 million in upfront fees and potential milestones up to $1.9 billion.
August 06, 2024 | 5:39 pm
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Sangamo Therapeutics shares surged 59% after announcing a license agreement with Genentech to develop genomic medicines for neurodegenerative diseases. The agreement includes $50 million in upfront fees and potential milestones up to $1.9 billion.
The partnership with Genentech is a significant milestone for Sangamo, providing immediate financial benefits and long-term revenue potential. This news has driven a substantial increase in SGMO's stock price.
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IMPORTANCE 90
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