Crispr Therapeutics, a leading biotech company, experienced a rollercoaster ride in the stock market last Friday. This was in response to the announcement of the FDA’s approval of the company’s gene-editing treatment for sickle cell disease. Developed using Crispr’s groundbreaking gene-editing technology known as CRISPR, the treatment was co-developed with Vertex Pharmaceuticals.
The FDA’s approval has significant implications for the medical field, as it opens up the potential for more targeted and effective treatments, especially for individuals with rare diseases. This breakthrough is particularly promising for patients with sickle cell disease or beta thalassemia, as the UK’s Medicines and Healthcare products Regulatory Agency also approved the Crispr treatment for these specific blood diseases back in November.
The market response to the FDA approval was noticeable, with Crispr’s stock (CRSP) surging and experiencing a year-to-date increase of nearly 50%. However, the stock fell more than 8% on Friday, highlighting the volatility associated with such groundbreaking advancements. Crispr’s stock has been trading around a 72 cup-base buy point.
Vertex Pharmaceuticals, Crispr’s co-developer, also experienced a decline in its stock, with a 1.1% dip after the FDA approval. The stock closed below its 50-day line, adding further uncertainty to the market sentiment.
The FDA’s approval of this gene-editing treatment raises important questions about the future of Crispr and the wider field of gene-editing technology. The potential of these advancements has attracted attention from other companies as well. Tesla, the renowned electric vehicle manufacturer, is reportedly considering an early entry into the gene-editing market. As a result, five stocks are currently in buy zones, further indicating the growing interest and potential financial opportunities within this sector.
Overall, the approval of Crispr Therapeutics’ gene-editing treatment marks a significant milestone in the field of personalized medicine. It showcases the potential to develop more targeted and efficient treatments, particularly for those suffering from rare diseases. While the stock market experienced ups and downs in response to this news, it also highlights the growing interest and potential financial rewards associated with gene-editing technology. As the industry evolves, many are looking forward to witnessing the next steps for Crispr and the wider field of gene-editing.