Here's Why CRISPR Therapeutics Jumped 42.2% in November
Shares of CRISPR Therapeutics (NASDAQ: CRSP) gained over 42% last month, according to data provided by S&P Global Market Intelligence. The company provided the first glimpse of CTX001, a therapy based on CRISPR gene editing, in sickle cell disease and transfusion-dependent beta-thalassemia (TDT). While the preliminary results were from only two patients -- one in each indication -- they demonstrated promising potential for the approach.
Investors cheered the update, which was the first from any company developing CRISPR-based tools. The news sent several gene-editing stocks higher. Shares of Editas Medicine and Intellia Therapeutics rose as well, although super-early success for CTX001 means next to nothing for industry peers. More meaningful might be the implications for Vertex Pharmaceuticals (NASDAQ: VRTX), the collaboration partner of CRISPR Therapeutics for CTX001, which could be handsomely rewarded for its early bet on the gene-editing technique.
Image source: Getty Images.
Source Fool.com