The public offering is expected to close on Wednesday, 4/13/11, subject to customary closing conditions. Barclays Capital is the sole book-running manager in this offering and SGMO has granted the underwriter a 30 day option to purchase up to 1M additional shares.
The Bottom Line: SGMO focuses its R&D of novel DNA-binding proteins for therapeutic gene regulation and modification. The ZFP Therapeutic® development program is currently in a P2b clinical trial for evaluation of safety and clinical effect in patients with diabetic neuropathy. SGMO also has a P1/2 clinical trial and 2 ongoing P1 clinical trials to evaluate safety and clinical effect of a treatment for HIV/AIDS as well as a P1 trial of a treatment for recurrent glioblastoma multiforme. Other therapeutic development programs are focused on Parkinson’s disease, monogenic diseases, neuropathic pain and nerve regeneration. SGMO’s core competencies enable the engineering of a class of DNA-binding proteins called zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs that recognize a specific DNA sequence SGMO has created ZFP transcription factors (ZFP TFs) that can control gene expression and, consequently, cell function. SGMO is also developing sequence-specific ZFP Nucleases (ZFNs) for gene modification. SGMO has established strategic partnerships with companies in non-therapeutic applications of its technology including Dow AgroSciences and Sigma-Aldrich Corporation. SGMO traded down -$0.54 (-6.43%) to $7.82 (9:57am).
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.