Sangamo Stocks Surge as Roche Withdraws Gene Therapy

Sangamo Therapeutics shares rose significantly, climbing as much as 36%, following the announcement that pharmaceutical giant Roche has halted its gene therapy program for hemophilia A. This marks the largest increase in Sangamo's stock since October 28. Roche's decision to discontinue the development of the SPK-8011 treatment, originally developed by Spark Therapeutics, which it acquired in 2019, was confirmed in communications with Endpoints News and Fierce Biotech. According to a U.S. government website, the Phase 3 study of SPK-8011 was withdrawn based on a "strategic decision." Sangamo Therapeutics is currently collaborating with Pfizer on a competing gene therapy known as giroctocogene fitelparvovec, which also targets hemophilia A.