Sangamo Therapeutics saw its stock price plummet by approximately 27% following Pfizer’s (NYSE: PFE) decision to terminate their global collaboration and licensing agreement. The decision marks a significant shift in their partnership, which will officially end on April 21, 2025.
Pfizer’s decision to pull out of the agreement stems from its choice to discontinue the Biologics License Application (BLA) and Marketing Authorization Application (MAA) submissions for giroctocogene fitelparvovec, a gene therapy developed by Sangamo. Furthermore, Pfizer has no plans to pursue commercialization of this biologic, contributing to the end of their collaboration.
In response to the setback, Sangamo has indicated it will seek new partners and explore alternative options to continue the development of its program, as it looks to navigate this unexpected change in direction.
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