Shares of Sangamo Therapeutics rose significantly, up to 36%, following the announcement that pharmaceutical giant Roche has halted its gene therapy program for hemophilia A.
This is the biggest increase in Sangamo shares since October 28.
Roche’s decision to halt development of SPK-8011, a therapy initially developed by Spark Therapeutics and which Roche acquired in 2019, was confirmed in communications with Endpoints News and Fierce Biotech.
According to a US government website, the Phase 3 trial of SPK-8011 was withdrawn based on a “strategic decision.”
Sangamo Therapeutics is currently working with Pfizer (NYSE:) on a competing gene therapy known as giroctocogene fitelparvovec, which targets the same condition, hemophilia A.
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