08:41 AM EST, 12/31/2024 (MT Newswires) -- Sangamo Therapeutics' ( SGMO ) cash on its balance sheet remains "an overhang" following Pfizer's ( PFE ) decision to terminate a hemophilia A gene therapy collaboration with the company, Truist Securities said in a Monday note.

The partnership and license agreement between the two companies are anticipated to close in Q1 next year and while the company's management had hinted that a biologics license application would "trigger a meaningful payment to help cash runway," it seems difficult now without a significant cash infusion in Q1 2025, analysts led by Nicole Germino wrote.

Truist Securities maintained a buy rating on the company's stock with a $7 price target.

SGMO shares were down 55% in recent premarket activity.