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Mar 31, 2022
CRISPR Therapeutics Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022.
Key Takeaways
CRISPR Therapeutics reported its Q1 2022 financial results, with a cash position of $2,221.3 million. The company's total collaboration revenue was $0.2 million. R&D expenses increased to $118.2 million, and G&A expenses were $28.0 million. The net loss for the quarter was $179.2 million.
More than 75 patients dosed with CTX001 across CLIMB-Thal-111 and CLIMB-SCD-121 to date; planned global regulatory submissions on track for late 2022.
Initiated two new CTX001 Phase 3 clinical trials in pediatric patients with TDT and SCD.
Enrollment and dosing ongoing for CTX110, targeting CD19+ B-cell malignancies; additional data expected to report in 2022.
Updates from ongoing CTX120 and CTX130 clinical trials anticipated in 1H2022.
Revenue by Segment
Forward Guidance
CRISPR Therapeutics anticipates important company milestones in 2022. Alongside partner Vertex, they remain on track to submit global regulatory filings for CTX001 in late 2022. They are also advancing wholly-owned immuno-oncology pipeline, with new updates expected this year.
Positive Outlook
- Global regulatory filings for CTX001 in late 2022 are on track.
- Advancing wholly-owned immuno-oncology pipeline.
- New updates expected this year.
- Enrollment and dosing continues in the Phase 1 clinical trial of VCTX210 for T1D with partner, ViaCyte.
- Well positioned and well capitalized to advance pipeline and platform to develop transformative medicines for patients suffering from serious diseases.
Challenges Ahead
- Potential for initial and preliminary data from any clinical trial and initial data from a limited number of patients not to be indicative of final trial results.
- Potential that clinical trial results may not be favorable.
- Future competitive or other market factors may adversely affect the commercial potential for CRISPR Therapeutics’ product candidates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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