Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shares are moving higher Tuesday after the company announced the FDA approved an accelerated pathway for ST-920, a potential gene therapy for the treatment of Fabry disease.
What To Know: The FDA's approval of the accelerated pathway was based on data from the ongoing Phase 1/2 STAAR study. Without an accelerated pathway, the company would have to conduct an additional study. Tuesday's announcement will allow Sangamo to forego the extra study, speeding up the estimated time to potential approval by approximately three years.
The data from the ongoing study showed promising safety and efficacy results and evidence of improved kidney function. These improvements, particularly in estimated glomerular filtration rate (eGFR), an indicator of kidney function, suggest the potential to address the renal complications commonly seen in Fabry disease.
"Fabry is a debilitating disease, for which there is a serious unmet medical need," said Sandy Macrae, CEO of Sangamo.
"I strongly believe in the potential for ST-920 to alleviate many manifestations of Fabry disease and am delighted to have a clear regulatory pathway that could bring this treatment to patients significantly sooner than originally anticipated".
Sangamo said it has begun to execute Biologics License Application (BLA) readiness activities and expects to submit a BLA during the second half of 2025.
How To Buy Sangamo Therapeutics Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Sangamo Therapeutics's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
SGMO Price Action: At the time of writing, Sangamo shares are up 33.7% at $1.21, according to data from Benzinga Pro.
Image: Courtesy of Sangamo Therapeutics.
