Can CRISPR Therapeutics Build on Gene-Editing Treatments?

The CRISPR gene editing market has grown explosively over the past few years. According to a market report, the global CRISPR market is expected to grow 16% annually to become a $17.8 billion market by 2034. Switzerland-based CRISPR Therapeutics AG is a pioneer in the industry that is leveraging gene editing to create treatment plans for rare and common diseases.

CRISPR Therapeutics’ Offerings

CRISPR Therapeutics was founded in 2013 by scientists Emmanuelle Charpentier, Shaun Foy, and Rodger Novak. Emmanuelle Charpentier is a force in her field and shares the 2020 Nobel Prize in Chemistry with Jennifer Doudna. Emmanuelle provided the first scientific documentation on the development and use of the CRISPR-Cas9 gene-editing discovery.

CRISPR Therapeutics was set up with an objective to developing gene-based medicines for serious diseases by harnessing its proprietary CRISPR/Cas9 platform. It is a pioneer in utilizing the CRISPS gene editing platform to develop medicines for treatment of various diseases. The company operates with a mission to find cures for people suffering from serious diseases through transformative gene-based medicines, instead of merely managing symptoms.

Over the last decade, CRISPR Therapeutics has built deep R&D capabilities, entered strategic collaborations, and established a manufacturing footprint to advance the deployment of transformative gene-based therapies. In 2021, it opened its manufacturing and R&D facilities in Massachusetts.

In 2023, the company got a historic approval in the US, Great Britain, and Bahrain for the first-ever CRISPR-based therapy. In collaboration with Vertex Pharmaceuticals, it has have developed a one-shot gene-editing treatment for certain eligible people living with sickle cell disease or transfusion-dependent beta thalassemia. Exagamglogene autotemcel (CASGEVY) has not yet been approved in all countries but became the first CRISPR-based therapy to gain FDA approval.

While the treatment had a slow start in 2024, Casgevy is gaining momentum with patient initiations, cell collections and infusions. More than 75 authorized treatment centers have been activated across all regions where Casgevy is approved, and as of June end, 115 patients completed their first cell collection since the therapy’s commercial launch.

This is just the beginning though. Beyond hemoglobinopathies, CRISPR Therapeutics is working on finding cures for areas such as diabetes, immuno-oncology, and cardiovascular diseases, to help transform lives at scale.

CRISPR Therapeutics continues to partner with other bio-tech firms for development of other treatments. In May this year, it tied up with San Diego-based Sirius Therapeutics, for developing and commercializing novel siRNA therapies. The partnership is expected to focus on Sirius’s lead candidate, SRSD107, a long-acting siRNA therapy which is being developed in early-to-mid-stage studies for the treatment of thromboembolic disorders. If successfully developed, SRSD107 could transform to becoming a best-in-class therapy for patients at risk for life-threatening events due to underlying diseases such as malignancy, cardiovascular disease, and hyper-coagulability.

CRISPR Therapeutics’ Financials

CRISPR Therapeutics recently reported its quarterly results that failed to impress the markets. Revenue for the second quarter grew 71% to $0.89 million but were significantly short of the market’s estimates of $6.58 million. Loss of $1.29 per share was better than the market estimate of a loss of $1.47 per share.

For the third quarter, the market is looking for revenues of $9.02 million. As Casgevy sales pick up, they would become a secure revenue source for CRISPR Therapeutics. Continued demand and new products are expected to improve the company’s long-term growth prospects in the cell and gene therapy market. Analysts are hopeful of revenues of $37.54 million for the current year and $240.92 million for the next year.

Its stock is currently trading at $53.07 with a market capitalization of $4.8 billion. It touched a 52-week high of $71.13 last month, and has recovered from the 52-week low of $30.04 that it was trading at in April this year.

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