Sangamo Therapeutics (NASDAQ:SGMO) faced a significant setback as Pfizer announced the termination of their partnership to co-develop a gene therapy for hemophilia A, causing Sangamo’s stock to plummet 56% on Tuesday. The decision leaves Sangamo regaining full rights to the program but significantly delays its path to regulatory approval.
The collaboration’s dissolution comes after Pfizer conducted a thorough evaluation of clinical trial data, expert opinions, and market trends. The pharmaceutical giant cited limited patient interest and slow adoption of gene therapies for moderate to severe hemophilia A as key reasons for stepping away from the project. Pfizer emphasized its intent to focus resources on treatments with a higher likelihood of commercial success.
Previously, late-stage trial results showed the therapy’s potential to reduce bleeding episodes in hemophilia A patients. However, Pfizer’s withdrawal halts plans to submit regulatory approval data, initially expected in early 2025, leaving Sangamo to determine the program’s next steps. The company is exploring new collaboration opportunities or alternative pathways to continue development. The agreement will formally end on April 21, 2025, allowing trial participants to remain under observation during the transition.