CRISPR Therapeutics Q1 2020 Earnings Report
Key Takeaways
CRISPR Therapeutics reported a net loss of $69.7 million for the first quarter of 2020, with cash and cash equivalents totaling $889.7 million. The company is progressing five cell therapy clinical trials and expects to report data for CTX001 and CTX110 programs this year. A $25 million milestone payment was received from Vertex in April 2020 related to the DM1 program.
Enrollment is ongoing in clinical trials of CTX001 for patients with severe hemoglobinopathies.
Enrollment is ongoing in clinical trial of CTX110, targeting CD19+ malignancies.
Patient treatment has begun in the clinical trial of CTX120, targeting B-cell maturation antigen (BCMA).
IND and CTA were approved for CTX130, a wholly-owned allogeneic CAR-T cell therapy targeting CD70.
CRISPR Therapeutics
CRISPR Therapeutics
CRISPR Therapeutics Revenue by Segment
Forward Guidance
CRISPR Therapeutics is focused on advancing its clinical programs, including CTX001, CTX110, CTX120, and CTX130. The company expects to report data from CTX001 and CTX110 programs in 2020 and begin treating patients with CTX130 in the second half of the year.
Positive Outlook
- Remain on track to provide additional data from the two ongoing Phase 1/2 studies of CTX001 in patients with transfusion-dependent beta thalassemia and in patients with severe sickle cell disease in 2020.
- Expect to report top-line data for CTX110 at the end of 2020.
- Have begun treating patients in a clinical trial to assess the safety and efficacy of CTX120.
- Expect to begin treating patients with CTX130 in the second half of this year.
- Eligible to receive additional milestone payments from Vertex of up to $800 million for DMD and DM1 programs.
Challenges Ahead
- No additional patients are scheduled to initiate conditioning or dosing at this time due to COVID-19.
- Potential impacts due to the coronavirus pandemic such as delays in regulatory review, manufacturing and supply chain interruptions, adverse effects on healthcare systems and disruption of the global economy.
- The timing and progress of clinical trials, preclinical studies and other research and development activities may be affected by the coronavirus pandemic.
- The overall impact of the coronavirus pandemic on its business, financial condition and results of operations is uncertain.
- The potential for initial and preliminary data from any clinical trial not to be indicative of final trial results.