Truist analyst Nicole Germino keeps a BUy rating on Sangamo (SGMO) after the company announced the hemophilia A gene therapy partnership was terminated with partner Pfizer (PFE), which is expected to close in Q1. The news is disappointing given that Sangamo had highlighted the biologics license application filing would trigger a meaningful payment to help its cash runway, the analyst tells investors in a research note. The firm says that without a meaningful cash infusion on Q1, the company’s cash remains an overhang despite recent collaborations. Truist does not know if there is a termination fee and how much that is yet.
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