Sangamo Plunges After Pfizer Ends Pact for Hemophilia Treatment [Yahoo! Finance]
Pfizer, Inc. (PFE)
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Source: Yahoo! Finance
after Pfizer Inc. ended its partnership to develop a new gene therapy to treat hemophilia A. Most Read from Bloomberg Migrant Crisis Pushed US Homelessness to Record High in 2024 Sangamo is considering “all options” to continue developing the drug, including finding a new partner, the company said in a statement Monday. The experimental medicine met its goal in a pivotal late-stage trial, and Sangamo said Pfizer had previously indicated that it expected to file for US and European approval in early 2025. “We were extremely surprised and very disappointed” by Pfizer's change of heart, Sangamo Chief Executive Officer Sandy Macrae said in a phone interview. The company learned of the decision on Dec. 22, he said. Sangamo has struggled with liquidity issues. Macrae said the company had been in line for up to $220 million in milestone payments under the agreement for the drug, called giroctocogene fitelparvovec. The company's market value was just below $500 million before the
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PFE
Earnings
- 10/29/24 - Beat
PFE
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 8-K
- PFE's page on the SEC website