CRISPR Therapeutics (CRSP +4.7%) is up on modestly higher volume this morning on the heels of its Q3 report that featured progress on multiple programs and a big jump in collaboration revenue driven principally by its partnership with Vertex Pharmaceuticals (VRTX -0.7%) in cystic fibrosis (CF).
Revenue: $211.9M (+999%); net income: $138.4M (+373%); EPS: $2.40 (+324%).
Enrollment is ongoing in a Phase 1/2 study of allogeneic CAR-T candidate CTX001 in patients with transfusion-dependent beta thalassemia and severe sickle cell disease. Preliminary data should be available in December.
Dosing is underway in a Phase 1/2 study of allogeneic CAR-T candidate CX110 in patients with CD19+ malignancies.
A Phase 1/2 trial assessing CAR-T candidate CTX120 in multiple myeloma patients should launch in H1 2020.
Collaboration partner Vertex Pharmaceuticals has exercised its options to exclusively in-license three additional CF targets using CRISPR-based gene editing. The company will receive $30M upfront, up to $410M in milestones and royalties on net sales.
It is negotiating definitive agreements with Bayer (OTCPK:BAYRY -0.2%), expected to close this quarter, related to their joint venture, Casebia Therapeutics, aimed at developing therapies in hemophilia, ophthalmology and autoimmune diseases. CRISPR will manage preclinical development while Bayer will have opt-in rights at IND submission.
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