Editas Just Caught a Break Thanks to Vertex Pharmaceuticals
It's fair to say that Editas Medicine (NASDAQ: EDIT) is an ailing biotech. Over the past three years, its share price has fallen by 83% as it abandoned parts of its pipeline and laid off staff. Despite its supposedly powerful gene-editing technology, the company is struggling to advance its clinical programs to the point where they might be commercialized and generate revenue.
Thankfully for Editas shareholders, Vertex Pharmaceuticals (NASDAQ: VRTX) just gave the business a much-needed break -- one that might even portend a brighter future for the stock.
Per the agreement announced on Dec. 13, Vertex will non-exclusively license Editas' Cas-9 gene-editing technology for its applications in sickle cell disease and beta-thalassemia, a pair of hereditary blood disorders. The license explicitly applies to Vertex's near-curative gene therapy for sickle cell disease, Casgevy, which it developed in collaboration with CRISPR Therapeutics, and which earned Food and Drug Administration (FDA) approval on Dec. 8. The FDA is scheduled to make a decision on Casgevy's approval as a treatment for beta-thalassemia by the end of March.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
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