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Biotech / Medical : biotech firesales -- Ignore unavailable to you. Want to Upgrade?

To: tnsaf who wrote (2161)	11/10/2008 5:43:58 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 3661

SGMO crashes 57% to asking 2.90 on well tolerated, failure: (note that SGMO had 1.5 in cash; so theres plenty of room on the short side - another 50%) "4:03PM Sangamo BioSci announces results from diabetic Neuropathy clinical trial SB-509-601: data demonstrate that repeat administration of the drug is well tolerated (SGMO) 6.58 -0.21 : Co announces top-line data from its SB-509-601 clinical trial, one of SGMO's three Phase 2 clinical studies from its ZFP Therapeutic program to develop SB-509 for diabetic neuropathy. The data demonstrate that repeat administration of the drug is well tolerated in subjects with mild to moderate DN. However, no significant differences were observed between the SB-509 and placebo treated subjects in a number of measures of nerve function and health at the primary analysis point, day 180 post-treatment. "The results from the SB-509-601 study are certainly unexpected," stated Edward Lanphier, SGMO's president and CEO. "The data that we obtained on measures of nerve health and function are quite different than what we observed in our Phase 1b study. However, the 601 trial is only one part of our broad clinical development program to evaluate SB-509 which we will continue to prosecute. Based on our positive Phase 1b clinical data and encouraging interim data from our Phase 2 repeat-dosing study in subjects with moderate to severe DN, we continue to have a high degree of confidence in this drug."