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The filed complaint alleges that Sangamo Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: Sangamo announced on December 30, 2024, that Pfizer, with whom the Company was co-developing hemophilia A gene therapy candidate giroctocogene fitelparvovec, would be returning after the development and commercialization rights to giroctocogene fitelparvovec after deciding not to pursue commercialization of the asset, which is in phase 3. Sangamo stated in a press release announcing this development, that it was "surprised and extremely disappointed by Pfizer's decision" to end the collaboration so close to anticipated Biologics License Application and Marketing Authorisation Application submissions for giroctocogene fitelparvovec, which the Company had expected to occur in early 2025. The collaboration and license agreement with Pfizer will terminate effective April 21, 2025, at which time Pfizer will be required to transition the giroctocogene fitelparvovec program back to Sangamo. Following this news, Sangamo's stock price fell during intraday trading on December 31, 2024.
In order to be eligible to join the SGMO class action lawsuit, you must have incurred a loss on shares of Sangamo Therapeutics, Inc. purchased during the class period listed above.
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