Pfizer ends global collaboration with Sangamo, shares drop 27%

Investing.com -- Sangamo's shares have seen a decrease of around 27% in response to Pfizer (NYSE:PFE )'s decision to end the global collaboration and license agreement between the two companies.

The termination of the agreement is set to take effect on April 21, 2025. Following this decision, Sangamo has begun exploring other options and potential partners to continue advancing its program.

Pfizer's move to end the partnership is primarily due to its decision against proceeding with the Biologics License Application and Marketing Authorization Application submissions for giroctocogene fitelparvovec.

The pharmaceutical giant also has no plans to pursue the commercialization of this particular biologic.

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Source: Investing.com