04:04 PM EDT, 03/14/2024 (MT Newswires) -- Sangamo Therapeutics' ( SGMO ) emphasis remains on progressing neurology programs toward clinical development, Wedbush said in a report Thursday.

The company reported Q4 results on Wednesday and provided key business updates.

Sangamo revealed preclinical findings for its blood-brain-barrier-penetrant Adeno-associated viruses capsid variant, STAC-BBB. In non-human primate models, STAC-BBB exhibited neuronal Ribonucleic acid expression across the brain 700-fold higher than Adeno-Associated Virus Serotype 9, or AAV9 and 5-fold higher than the next best published capsid, Wedbush said.

The company plans to submit an Investigational New Drug application for the Nav1.7 program in Q4 of 2024, followed by a Clinical Trial Application (CTA) submission for the prion disease program utilizing the STAC-BBB capsid in Q4 of 2025. Additionally, Sangamo anticipates submitting an IND for the tauopathy program, also leveraging the STAC-BBB capsid, as early as Q4 of 2025, Wedbush said.

Wedbush reiterated its outperform rating on Sangamo Therapeutics ( SGMO ) with a 12-month price target of $2.

Price: 0.78, Change: -0.01, Percent Change: -0.83