Stocks to Watch: Affinity Bancshares, Sangamo Therapeutics, CompoSecure

Dow Jones2024-12-31

By Connor Hart

Affinity Bancshares will terminate a deal under which it would have been acquired by Atlanta Postal Credit Union. The companies said their boards agreed to call off the deal following discussion between the credit union and regulatory agencies. The all-cash acquisition offer was first made in May. Shares fall 17%, to $18.09, in after-hours trading.

Sangamo Therapeutics will end its gene therapy deal with Pfizer. The biotechnology company said its agreement with the pharmaceutical company on gene therapy for hemophilia A will end effective April 21, 2025. Pfizer said it no longer plans to submit the treatment for approval or try to sell it, according to Sangamo. Shares plummet 54%, to $1.08, in postmarket trading.

CompoSecure will spin off Resolute Holdings Management, a move which will see the investment team at CompoSecure and its associated costs move to Resolute. CompoSecure Executive Chairman David Cote will serve as Resolute's executive chairman, while CompoSecure director Tom Knott will become CEO. Resolute is expected to trade on the Nasdaq under the ticker RHLD, and is expected to have limited profitability in fiscal year 2025, according to CompoSecure. Shares rise 8%, to $16.92, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

December 30, 2024 18:27 ET (23:27 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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