Health Care Stock Still Higher But Surrender Market Lead

Health care stocks enjoyed solid gains throughout Thursday trading, with the NYSE Health Care Sector Index rising nearly 0.6% and shares of health care companies in the S&P 500 climbing almost 1.0% as a group.

In company news, Sangamo BioSciences (SGMO) advanced Thursday after receiving unanimous approval from a National Institutes of Health advisory panel for a Phase I study of a ZFP Therapeutic as a potential curative treatment for hemophilia B.

Sangamo also plans to file an Investigational New Drug Application with the U.S. Food and Drug Administration before the end of the year, and pending FDA approval, expects to begin the Phae I trial early in 2016.

The Company recently reacquired all of its hemophilia assets from Shire plc (SHPG) after amending a 2012 collaboration and licensing agreement. The upcoming Factor IX program will be the first clinical trial of in-vivo genome editing as well as the first therapeutic application of the company’s in-vivo protein replacement platform.

SGMO shares were up more than 20% in late trade at $7.87 apiece, easing from an earlier run to $9.11 a share. Prior to today’s rally, the stock had dropped more than 48% over the past 12 months.

In other sector news,

(+) CYTX, Publishes 12-month follow-up data, with patients treated with the ECCS-50 cell therapy, on average, saw a 51.3% improvement in hand function from baseline level.

(-) LJPC, Prices $97 mln offering of 2.55 mln shares of its common stock at $38 each, a 10.2% discount to Wednesday’s closing price.

Companies: Sangamo BioSciences, Inc.
Price: 7.94 Price Change: +1.40 Percent Change: +21.37

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