CRISPR Therapeutics is a leading gene editor. The company was founded by Nobel laureate Emmanuelle Charpentier and Rodger Novak, associated with Bayer. The company has established cooperation with the German pharmaceutical giant and Vertex Pharmaceuticals.
- Gene editing has a chance to revolutionize medicine and find solutions to eliminate many previously incurable genetic diseases as it give scientists the ability to change an organism's DNA;
- CRISPR Therapeutics has already implemented the Federal Drug Administration (FDA) approved drug CTX001 for beta thalassemia and sickle cell disease;
- As part of the work on CTX001, the Vertex concern started cooperation with CRISPR Therapeutics and acquired 60% of shares in the research program, in which it has already invested USD 900 million. The estimated value of this program is $ 9 billion;
- Both companies have announced breakthrough clinical data on the CTX001 program. They have been approved for presentation at the Congress of the European Hematology Association (EHA) which is scheduled for June 10. Vertex also announced three other research projects approved for presentation at the EHA meeting.
CRISPR Therapeutics (CRSP.US) stock price was moving in a downward trend in recent months as popularity of medical companies diminished. The declines halted around $ 40.00 level, where a double bottom formation may be forming. The company has relatively solid fundamental indicators, such as a price-earnings ratio of around 16 and a price-to-book ratio of around 2.2, which can be perceived as attractive compared to other pharmaceutical companies' valuations. Source: xStation5
