CRISPR Therapeutics(CRSP) ZACKS·2025-01-17 14:52Company Overview - CRISPR Therapeutics (CRSP) shares have lost more than 30% in the past year, despite a surge at the start of 2024 due to FDA approval of its gene therapy Casgevy [1] - The company has yet to record revenues from Casgevy sales, and a lack of pipeline updates beyond Casgevy's approval has disappointed investors [1] - CRSP's stock has underperformed the industry, sector, and S&P 500, losing nearly 34% compared to the industry's 14% decline [13][15] Casgevy Approval and Market Potential - Casgevy, the first CRISPR-based gene-editing therapy, was approved in late 2023/early 2024 for sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT) in the US and Europe [4] - The therapy addresses a significant unmet medical need for an estimated 35,000 patients with severe SCD or TDT in the US and Europe, with additional patients in Bahrain and Saudi Arabia [5] - Vertex Pharmaceuticals, CRSP's collaborator, has reported a strong launch for Casgevy, with collaboration revenues expected to be recorded in Q4 2024 [6] Pipeline Development - CRSP is developing next-generation CAR-T therapy candidates CTX112 and CTX131, which have shown higher CAR T cell expansion and functional persistence in phase I/II studies [7] - The company is also focusing on in-vivo candidates CTX310 and CTX320, targeting cardiovascular disease, with plans to expand the in-vivo pipeline by 2025 [8][9] Competitive Landscape - Beam Therapeutics is developing BEAM-101 for SCD and TDT using CRISPR technology, while Intellia Therapeutics leads in in-vivo CRISPR-based therapies for various indications [11][12] Financial Performance and Valuation - CRSP's shares are trading below its 50-day and 200-day moving averages, with a price-to-book (P/B) ratio of 1.77, lower than the industry's 3.42 [13][16] - The company has a strong cash balance of 5.23 to $5.19 in the past 60 days, reflecting a more optimistic outlook [18]