CRISPR Therapeutics (NASDAQ: CRSP) and Bluebird Bio (NASDAQ: BLUE) are at the forefront of developing gene therapies, yet the shares of both companies have underperformed the market over the last 12 months. Still, the pair will likely soon be locked in a head-to-head competition for the same markets, and the stakes are high.

So which would be the better growth stock to buy now?

CRISPR Therapeutics doesn't have any approved treatments on the market yet, but that'll change soon enough, which is the crux of the thesis in favor of it being a great growth stock. Through its partnership with Vertex Pharmaceuticals, it's aiming to commercialize the gene therapy exa-cel, which was developed to provide a functional cure for both beta-thalassemia and sickle cell disease. The Food and Drug Administration (FDA) is already considering the pair's applications for both indications. The regulator will make its decision on the therapy as a sickle cell treatment in late Q4, and as a beta-thalassemia treatment at the end of Q1 2024.

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Source Fool.com