Sangamo Completes $111 Million Asset Sale to PTC in Chapter 11

What happened

Sangamo Therapeutics, Inc. said in a Form 8-K filed September 21, 2026 that it completed the sale of assets related to ST-920 (isaralgagene civaparvovec), an experimental gene therapy for Fabry disease, to PTC Therapeutics, Inc. The closing occurred September 17, 2026, according to the filing.

The company said total consideration consists of $111,000,000 in cash paid at closing and up to an additional $100,000,000 in contingent consideration payable if certain milestones are met, plus PTC's assumption of certain specified liabilities. The Asset Purchase Agreement is dated August 25, 2026.

The filing also states that Nasdaq filed a Form 25 with the SEC on September 17, 2026 to delist Sangamo's common stock, effective September 27, 2026. Sangamo's common stock was suspended from Nasdaq trading on May 5, 2026 and currently trades on the OTCID Basic Market under the symbol "SGMOQ."

According to the price data provided, SGMOQ closed at $0.1413 on the event date, up 0.93% from the prior close of $0.14.

The bankruptcy case

Sangamo filed a voluntary petition for Chapter 11 bankruptcy protection on June 23, 2026 in the U.S. Bankruptcy Court for the District of Delaware (Case No. 26-10989), the filing states. The company has continued operating as a "debtor-in-possession" under the court's jurisdiction.

The filing states that the court approved bidding procedures on July 14, 2026, setting a bid deadline of August 4, 2026. A court-supervised auction was held August 10, 2026, at which PTC was selected as the successful bidder. The court entered a Sale Order approving the sale on September 2, 2026.

The company

Sangamo Therapeutics is a clinical-stage biotechnology company based in Richmond, California. Its business is developing gene therapies and other genomic medicines — treatments that aim to correct disease at the genetic level rather than manage symptoms.

The filing states the company had revenue of $39,552,000 for the period ending December 31, 2025, most recent annual revenue provided.

ST-920, the asset sold to PTC, is described in the filing as a one-time administered AAV gene therapy product candidate for the treatment of Fabry disease. Fabry disease is a rare inherited disorder caused by a missing or defective enzyme; gene therapy aims to deliver a working copy of the gene so the body can produce the enzyme itself.

What this means

A Form 8-K is a current report that public companies file with the SEC when certain material events occur between quarterly and annual filings. The items listed in this filing are Item 1.03 (Bankruptcy or Receivership), Item 2.01 (Completion of Acquisition or Disposition of Assets), and Item 9.01 (Financial Statements and Exhibits).

Chapter 11 is a form of bankruptcy that allows a company to keep operating while it restructures or sells assets under court supervision. A "debtor-in-possession" is the company continuing to run its business during the case, subject to court oversight. A court-supervised auction is a process in which the bankruptcy court approves bidding rules, interested buyers submit bids by a deadline, and the winner is selected at auction, with the result subject to the court's approval.

"Contingent consideration" means the seller gets additional money later, but only if specified milestones are achieved. In this case, the potential extra $100,000,000 is not guaranteed and depends on those milestones being met. "Assumed liabilities" means PTC takes on certain obligations of Sangamo as part of the deal, rather than those obligations staying with Sangamo.

Form 25 is the filing used to remove a security from an exchange listing. Either the company or the exchange can file it; here, Nasdaq filed it. The delisting is scheduled to take effect September 27, 2026. Sangamo's shares already trade over the counter under "SGMOQ" — the "Q" suffix is used for companies in bankruptcy proceedings.

The filing includes a cautionary statement from the company, saying that trading in its common stock during the Chapter 11 case is "highly speculative and poses substantial risks," and that trading prices may bear "little or no relationship to the actual recovery, if any, by holders" in the case.