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Jun 30, 2024
CRISPR Therapeutics Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
CRISPR Therapeutics reported its Q2 2024 financial results, highlighting progress in its pipeline and the continued launch of CASGEVY™. The company's cash position remains strong with approximately $2 billion in cash, cash equivalents, and marketable securities.
More than 35 authorized treatment centers (ATCs) activated globally for CASGEVY™ and approximately 20 patients have had cells collected across all regions as of mid-July.
Clinical trials are ongoing for next-generation CAR T product candidates, CTX112™ and CTX131™, targeting CD19 and CD70 respectively, across multiple indications.
Clinical trials opened for CTX112 in systemic lupus erythematosus (SLE) and for CTX131 in hematological malignancies.
Strong balance sheet with approximately $2 billion in cash, cash equivalents, and marketable securities as of June 30, 2024.
Forward Guidance
CRISPR Therapeutics is advancing its pipeline with clinical trials ongoing for CTX112, CTX131, CTX310, CTX320 and CTX211. IND/CTA-enabling studies for CTX340 have been initiated and clinical trials are expected to begin in the second half of 2025.
Positive Outlook
- CTX112 has the potential to be best-in-class in both oncology and autoimmune indications.
- Clinical trial opened for CTX131 in hematologic malignancies.
- Continue to dose-escalate with in vivo directed programs, CTX310 and CTX320.
- Advancing early stage discovery efforts.
- Initiated IND/CTA-enabling studies for CTX340, targeting hepatic AGT for hypertension, and expects to initiate both clinical trials in the second half of 2025.
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