BioCentury
ARTICLE | Financial News

Sangamo raises $200M in follow-on

April 26, 2018 5:27 PM UTC

Sangamo Therapeutics Inc. (NASDAQ:SGMO) raised $200 million through the sale of 12.3 million shares at $16.25 in a follow-on underwritten by BofA Merrill Lynch, J.P. Morgan and Cowen. The price is a 9% discount to Sangamo's closing price of $17.80 on Tuesday, when it proposed the offering after market hours. Sangamo dipped $0.50 to $17.30 on Wednesday and shed another $1.05 to $16.25 on Thursday.

Sangamo's pipeline includes programs based on its genome editing and gene and cell therapy technologies. Three of its programs using zinc finger nuclease (ZFN) technology are in Phase I/II trials: SB-FIX, which inserts Factor IX into the albumin gene locus to treat hemophilia B; SB-318, which targets the albumin locus and the gene for alpha-L-iduronidase to treat mucopolysaccharidosis I (MPS I); and SB-913, which is designed to deliver the iduronate 2-sulfatase (IDS) gene to treat MPS II...