Pfizer (PFE) Collaborates With Sangamo For Gene Therapy
Zacks Investment Research | Jan 03, 2018 09:53PM ET
Pfizer Inc. (NYSE:PFE) announced a collaboration with Sangamo Therapeutics Inc. (NASDAQ:SGMO) to develop a gene therapy using the latter’s zinc finger protein transcription factors (ZFP-TFs) platform. The gene therapy will be developed to treat neurodegenerative disorders — amyotrophic lateral sclerosis (ALS) and frontotemporal lobar degeneration (FTLD) — caused by mutations in the C9ORF72.
Per the agreement, Sangamo will receive a $12 million upfront payment from Pfizer and will be responsible for the development of ZFP-TF candidates. Additionally, Sangamo will also receive milestone payments of up to $150 million as well as tiered royalties on net sales. Meanwhile, Pfizer will be responsible operationally and financially for the development and commercialization of any resulting products.
Pfizer and Sangamo already have a global collaboration and license agreement for the development and commercialization of potential gene therapy products to treat hemophilia A, including SB-525, which entered the clinic in August 2017.
In 2017, shares of Pfizer increased 10.3% compared with the .
Exelixis’earnings per share estimates have moved up from 46 cents to 49 cents for 2017 and from 70 cents to 73 cents for 2018 in the last 60 days. The company delivered a positive earnings surprise in all the last four quarters, with an average beat of 572.92%. Share price of the company has surged 107.5% in 2017.
XOMA’s loss per share estimates have narrowed from $3.05 to 9 cents for 2017 and from $1.23 to 42 cents for 2018 in the last 60 days. The company delivered a positive earnings surprise in one of the last four quarters, with an average beat of 47.92%. Share price of the company has surged 643.8% in 2017.
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