Sangamo Shares Rise As Metabolic Drugs Given FDA Fast-track Status

Sangamo Therapeutics Inc. shares rose in the extended session Thursday after the gene therapy company said the Food and Drug Administration will fast track expediting of marketing applications for two of its drugs meant to treat rare metabolic disorders. Sangamo shares rose 3.7% to $9.85 after hours. The company said the FDA granted fast-track designations to the drugs SB-318 and SB-913, where the agency will communicate frequently with the company to help streamline the approval process. SB-318 is meant to treat Mucopolysaccharidosis Type I and SB-913 Mucopolysaccharidosis Type II, both genetic diseases where enzymes needed to break down large sugar chains in bodily tissues are not present and subsequently damage the tissue.