Why CRISPR Therapeutics AG Stock Lost Ground in September
According to data from S&P Global Market Intelligence, shares of the gene-editing company CRISPR Therapeutics (NASDAQ: CRSP) dropped by 13.1% in September. CRISPR's poor showing last month appears to stem from nothing more than investors simply shifting their collective interest to adoptive cell therapy companies with pipelines further along in the developmental process.
Image source: Getty Images.
Over the course of September, for instance, adoptive cell therapy companies like Juno Therapeutics, bluebird bio, among others, all saw their shares rise substantially as a result of the growing interest in this emerging technology in the wake of Gilead Sciences' $11.9 billion buyout of Kite Pharma, along with the Food and Drug Administration approval of Novartis' CAR-T therapy, Kymriah. Unfortunately, CRISPR has yet to even enter clinical trials with its adoptive cell therapy, CTX-101 -- in other words, it could have a hard time carving out a profitable niche in this increasingly crowded space.
Source: Fool.com
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