Sangamo BioSciences Initiates Phase II Diabetes Study
Sangamo BioSciences (SGMO) announced early Wednesday that it has initiated its first phase II clinical trial for SB-509, an injectable formulation of plasmid DNA being investigated for the treatment of diabetic peripheral motor sensory neuropathy in the legs.
The study will attempt to study the safety and clinical effects of repeated dosing of SB-509.
The initiation of the study has triggered the first milestone payment of the $3 million in total promised by the Juvenile Diabetes Research Foundation (JDRF).
Sangamo, a $200 million company on the market, carries more than $50 million in cash and no debt.
Shares closed at $7.74 on Tuesday, near the 52-week high of $8.28 reached back in May.
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Sangamo BioSciences (SGMO) announced early Wednesday that it has initiated its first phase II clinical trial for SB-509, an injectable formulation of plasmid DNA being investigated for the treatment of diabetic peripheral motor sensory neuropathy in the legs.
The study will attempt to study the safety and clinical effects of repeated dosing of SB-509.
The initiation of the study has triggered the first milestone payment of the $3 million in total promised by the Juvenile Diabetes Research Foundation (JDRF).
Sangamo, a $200 million company on the market, carries more than $50 million in cash and no debt.
Shares closed at $7.74 on Tuesday, near the 52-week high of $8.28 reached back in May.
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posted by Nico at
7:28 AM
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