Re: SGMO not having a good day - Double Terminations, Novartis and Biogen
I think SGMO has some valuable intellectual property, but that doesn’t mean that investors will get any of their money back for the R&D that they’ve been paying for for many years. I owned SGYP back in ‘17 as an inexperienced investor. SGYP developed a best in class drug for IBS - constipation. Before they could successfully grow sales, they bankrupted. Bausch Health Care bought Trulance as well as another drug in SGYP’s pipeline for $195M in the bankruptcy settlement to pay off lenders. As I remember BHC’s market cap increased about $400M immediately after the deal. Trulance is now a well known drug with solid revenues and I believe that 2nd drug continues to positively move through the trial process. Share holders were left with an empty shell. Back to SGMO: 9 months of cash and the loss of two strong partners is a lot to digest for investors. Though $2 isn’t much to some investors that have paid over 10x that amount in some cases, $2 is better than nothing.