04:57 PM EST, 12/30/2024 (MT Newswires) -- Sangamo Therapeutics ( SGMO ) was plunging 49% in extended trading, after saying Monday it will regain full development and commercialization rights for giroctocogene fitelparvovec after Pfizer ( PFE ) decided to terminate the collaboration and licensing agreement for the prospective hemophilia A gene therapy.

The partnership between Sangamo and Pfizer ( PFE ) will formally end on April 21, 2025, Sangamo said. It plans on exploring all options to continuing to advance the program, including finding a new collaboration partner.

The companies will also continue to monitor participants in a phase 3 trial of drug candidate during the transition period, it said.

Pfizer ( PFE ) shares were fractionally lower in the after-hours session.