FRLN - Sangamo Therapeutics begun at neutral at Wedbush on 'frontrunner' Fabry candidate

Wedbush Securities has initiated Sangamo Therapeutics (NASDAQ:SGMO) with a hold rating noting that while it sees promise in isaralgagene civaparvovec for Fabry disease, the candidate needs to demonstrate better durable efficacy and safety compared to current treatments. The firm has a $5 price target (~52% upside based on Monday's close). Analyst Andreas Argyrides said that the gene therapy isaralgagene civaparvovec is a "front runner" among three early-stage candidates for Fabry. The other two he cited are FLT190 from Freeline Therapeutics (FRLN) and 4D Molecular Therapeutics' (FDMT) 4D-310. Sangamo's most advanced candidate, giroctocogene fitelparvovec, is in phase 3 for hemophilia A and partnered with Pfizer (PFE). Although Sangamo reported in May the FDA lifted a clinical hold on the phase 3 trial, Pfizer said the study won't be restarted until Q3. Argyrides noted this delay will give BioMarin Pharmaceutical (BMRN) an advantage as the FDA is set to decide on that

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Sangamo Therapeutics begun at neutral at Wedbush on 'frontrunner' Fabry candidate