I want to share my personal investing experience with you in this blog as often as I can.
Around the second quarter of 2018, I purchased 252 shares of Sangamo Therapeutics (NASDAQ: SGMO) at around $23.
Initially, I looked like a genius! The stock ran to $26 soon after I bought it.
The next 12 months, however, would be sheer agony…
Sangamo is a gene therapy company with very promising technology. That’s the reason I made the investment in the first place.
They are working on their own gene editing technology called zinc finger. If successful, zinc finger will be revolutionary technology.
Since I purchased the stock, it has fallen 60%. The company has had 3 data readouts in the last 10 months, and each has been disappointing.
When biotechnology companies want to bring a new drug into market, they have three trials they must pass. The process of getting a drug successfully approved by the FDA can take years.
One of the reasons I’ve remained long Sangamo is that this year in particular is scheduled to be filled with data readouts by the company. I only need one trial to be successful!
On Monday, Sangamo put out a press release that they would be having a conference call on Tuesday morning at 10:00 a.m. The company and its partner, Pfizer announced results from a clinical trial to treat hemophilia A – and they were exceptional. The stock closed up 28% on the day to around $12.50.
I’m still down 46%. But remember, I was down 60%. I think Sangamo may be turning the corner.
This is part of owning stocks.
I will keep you posted.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)