Monday, October 3, 2011

Sangamo stock falls after failed mid-stage trial

A study involving Sangamo BioSciences Inc.’s keystone zinc finger protein technology failed in a mid-stage study, the company said Monday.
Sangamo’s stock (NASDAQ: SGMO) was down 24 percent — or $1.04 per share — in mid-day trading after the Richmond company said it will abandon the drug, SB-509, and concentrate on using its zinc-finger technology to treat patients with the AIDS virus.

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