Boston, MA 03/07/2014 (wallstreetpr) – Sangamo Biosciences, Inc. (NASDAQ:SGMO) was one of the biotech movers in the last session. It was nice to see shares swing to new price records as investors betted on the prospects of the stock. But what exactly are the prospects, one may ask?
The company is concerned with among other medical developments, the treatment for the virus that causes AIDS. It has been a long study and a lot of spending as you would expect, but the company is eventually looking at results that could completely change the way we treat AIDS, and perhaps how people around the world relate with people infected with HIV.
Promising treatment for HIV
In data obtained from the small study of SB-728-T, the therapy for HIV that is being developed by Sangamo Biosciences, Inc. (NASDAQ:SGMO), it emerged that the company was zeroing into a treatment for the deadly virus. The study findings were published in New England Journal of Medicine.
The technology that Sangamo Biosciences, Inc. (NASDAQ:SGMO) is fronting to combat HIV is called “gene-editing.” It is far from the systems used presently in cooling down the virus in humans. Instead of using the antiretroviral drugs, this new solutions would kind of simply modify the cells of the body as a way of taking away strength from the virus.
Shares of Sangamo Biosciences, Inc. (NASDAQ:SGMO) were up on the good news. The shares were traded up 17.08 percent to $22.96 in the last session.
The stock was so exciting that a new one-year high price level was established at $24.12. The shares were traded in the boundary of $21.76 low and $24.12 high.
Besides the news about the cell modify technology to control HIV, the other strength seen in Sangamo Biosciences, Inc. (NASDAQ:SGMO) is its collaborative agreement with yet another biotech called Biogen Idec (NASDAQ:BIIB). The two companies in January inked a deal valued at $320 million to the benefit of SGMO. This agreement does not only provide upfront funds, but also offers support for the continued drug development.