UPDATE: GARP Research & Securities Drops Coverage on Sangamo Biosciences on Termination of Neuropathy Treatment Efforts
GARP Research & Securities drops its coverage on Sangamo Biosciences (NASDAQ: SGMO) as the company no longer pursues treatment of diabetic neuropathy.
GARP Research & Securities comments, "[I]n the wake of the company's 2011 termination of its efforts to treat diabetic neuropathy, there is a paucity of near-term events to serve as likely catalysts for appreciation of an investor's stake in SGMO. In the lead anti-HIV project, two Phase 1/2 trials are underway, with enrollment of about two dozen patients. A partner for this program is yet to be secured, and the earliest transition to a large pivotal trial is a couple of years away, we believe."
SGMO closed at $5.58 on Tuesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.