Here's Why Crispr Therapeutics Gained 22.8% in October
Shares of Crispr Therapeutics (NASDAQ: CRSP) jumped nearly 23% last month, according to data provided by S&P Global Market Intelligence. The biopharmaceutical company announced a quarterly update demonstrating multiple areas of progress. The lead drug candidate, CTX001, is enrolling patients at six global sites for a phase 1/2 trial in transfusion-dependent beta thalassemia (TDT) and at 10 global sites for a phase 1/2 trial in sickle cell disease. Preliminary results are expected to be released before the end of 2019, which could have a profound effect on the pharma stock.
The gene-editing pioneer ended September with nearly $630 million in cash, which will come in handy next year when the company expects to have up to five clinical trials ongoing simultaneously. That includes plans to initiate the first clinical trial of CTX120 as a treatment for multiple myeloma in the first half of 2020, which should be followed by multiple trials involving CTX130 in solid tumors and white blood cell cancers.
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