What were the pros and cons of Sangamo pursuing its gene editing pro- grams alone versus working with a partner? Does the HIV program offer any special opportunities or challenges?

Management question

1. What were the pros and cons of Sangamo pursuing its gene editing pro- grams alone versus working with a partner?
2. Does the HIV program offer any special opportunities or challenges?
3. What do you think Sangamo should do regarding the HIV program? Should it license the technology to a large pharmaceutical? Should it form a joint venture with another biotech or pharma company? If so, who?