NEW YORK, NY / ACCESSWIRE / September 6, 2018 / Shares of one stock soared over 120% on positive results from a trial while the other collapsed on its trial results. ProQR was the winner with a gain of over 120% while Sangamo Therapeutics sank nearly 24%.
RDI Initiates Coverage on:
ProQR Therapeutics N.V.
Sangamo Therapeutics, Inc.
ProQR Therapeutics N.V. shares exploded on Wednesday and closed up 120.75% on high trading volume. The stock hit a new high of $17.55 after the biopharmaceutical company revealed results from its phase 1/2 trial that is testing its compound called QR-110 as a hopeful treatment for LCA10; a genetic mutation that usually leads to childhood blindness. Dr. David Rodman, an executive vice president of R&D at ProQR, said, "We observed a clinically meaningful improvement in vision in the treated eye as measured by both mechanistic and potential registration endpoints. Consistent with predictions based on our patient derived optic-cup models, improvement in visual function was observed as early as two months after treatment and was maximal and stable by three months and thereafter." The company also announced that it is planning to offer and sell $75,000,000 of its ordinary shares in an underwritten public offering. All of the shares are being offered by ProQR. The company also says that it expects to grant the underwriters a 30-day option to purchase up to an additional $11,250,000 of ordinary shares, on the same terms and conditions. There is no assurance as to whether or when the offering may be completed. The company said it would be using the proceeds from the offering to fund ongoing research and development activities and for working capital and other general corporate purposes.
Access RDI’s ProQR Therapeutics N.V. Research Report at:
Sangamo Therapeutics, Inc. shares were down 23.62% at the close yesterday on about 12 million shares traded. The company saw its shares slide into the red after announcing the results of its Phase 1/2 study data for its gene editing candidate SB-913. The therapy is under development for the treatment of Hunter Syndrome or MPS type II; a rare metabolic disorder. According to the company, the trial was the first instance of gene editing, or adding a new copy of a gene into the DNA of a patient’s cells, completed inside the body, or in vivo. Two patients in the trial had reductions of a key biomarker called urinary glycosaminoglycans (GAGs) after 16 weeks of treatment. Due to an enzyme deficiency for people that have Hunter syndrome, GAGs have a tendency to accumulate. Sangamo said that it was not able to measure changes in the missing enzyme, called iduronate-2-sulfatase (IDS), 16 weeks after treatment, because its activity in plasma “was below the level of quantification of the current assay.” An executive for the company had said, "We want to see GAGs that are reduced and remain reduced when the patient withdraws enzyme replacement therapy. I think if the patient had to take our medicine and enzyme replacement on top of it, it’s a less attractive proposition.”
Access RDI’s Sangamo Therapeutics, Inc. Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.