Here's Why Sangamo Therapeutics Rose as Much as 16.3% Today

Shares of Sangamo Therapeutics (NASDAQ: SGMO) rose over 16% today after the company announced that the first patient had been dosed in a phase 1/2 trial evaluating the potential for its gene-editing technology to treat Hunter syndrome. It's the first time doctors in the United States have attempted to use gene editing in a live patient in a controlled setting, so investors are understandably happy to reach the milestone.

Sangamo Therapeutics uses a gene-editing tool called zinc finger nucleases (ZFN), which hasn't received as much press in the last two years as CRISPR gene editing. That's partially due to how tightly the company has controlled the technology, whereas multiple companies have snagged licenses to CRISPR tools. Nevertheless, ZFN just beat CRISPR to the clinic. The latter isn't expected to reach that milestone until mid-2018 when Editas Medicine begins its first phase 1 trial.

As of 3:29 p.m. EST, the stock had settled to a 13.6% gain.

Source: Fool.com