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Sangamo Biosciences (SGMO) Prices Public Offering

Apr. 10, 2011 2:27 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
SGMO priced its public offering of 6.7M shares at a price of $7.70 per share.  

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).

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