Sang­amo scraps pub­lic of­fer­ing ‘af­ter eval­u­at­ing mar­ket con­di­tions’

Sang­amo Ther­a­peu­tics has with­drawn its pub­lic stock of­fer­ing, ac­cord­ing to an SEC fil­ing Fri­day morn­ing. The cell and gene ther­a­py biotech was hop­ing to sell a por­tion of a $500 mil­lion shelf of­fer­ing, an­nounced last week, to push out its cash run­way and fund its clin­i­cal pro­grams.

In the with­draw­al fil­ing, Sang­amo wrote, “Af­ter eval­u­at­ing mar­ket con­di­tions as well as on­go­ing busi­ness de­vel­op­ment dis­cus­sions and fi­nanc­ing op­por­tu­ni­ties, its cash po­si­tion and busi­ness out­look, Sang­amo has cho­sen not to move for­ward with a pub­lic of­fer­ing of its se­cu­ri­ties at this time.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER