April 4, 2019 / 12:18 PM / 6 months ago

BUZZ-Gene therapy co Sangamo slips on 11 mln share offering

** Sangamo Therapeutics down 6.5% to $12.18 premarket as co prices its overnight follow-on

** Offers 11 mln shares at $11.50, raises approx $126.5 mln for working capital, other general corp purposes, including support for its own and partnered gene therapy, genome editing, cell therapy and gene regulation product candidates

** Deal represents ~12% discount to stock’s Weds close and ~11 pct of co’s total shares outstanding as of Feb 14, per Refinitiv data

** Cowen, Wells Fargo and Barclays joint bookrunners

** Equity raise comes two days after SGMO’s shares surged 29% on positive data out of early-stage studies for SB-525 for treatment of severe hemophilia A

** Co developing SB-525 in collaboration with Pfizer Inc ; therapy has received “orphan drug” and “fast track” designations from U.S. FDA

** Stock has risen ~14% this year

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