Investing.com — Shares of Sangam fell about 27% in response to Pfizer (NYSE:) on the termination of the global cooperation and license agreement between the two companies.
The contract termination is scheduled to take effect on April 21, 2025. Following this decision, Sangamo began to explore other opportunities and potential partners to continue advancing its program.
Pfizer’s move to end the partnership is primarily due to its decision against submitting a biologics license application and marketing application for the giroctocogene fitelparvovec.
The pharmaceutical giant also has no plans to commercialize this particular biologic.
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