Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Vertex, CRISPR's Sickle Disease Drug Gets FDA's Fast Track Tag

Published 01/06/2019, 10:03 PM
Updated 07/09/2023, 06:31 AM

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and partner CRISPR Therapeutics AG (NASDAQ:CRSP) announced that the FDA has assigned Fast Track designation to their gene editing candidate, CTX001, for the treatment of sickle cell disease (SCD), a severe hereditary form of anaemia.

The fast track status from the FDA is designed to provide certain benefits for new drugs that treat serious or life-threatening conditions and demonstrate potential to address the unmet medical needs. With this designation, the drug is expected to be granted a priority review once it files a new drug application (NDA).

Shares of Vertex and CRISPR Therapeutics were each up 5.5% and 8% on Friday in response to the news. In fact, in the past year, the CRISPR Therapeutics stock has rallied 16.1% while Vertex has increased 10.1% versus the industry’s decline of 18.9%.

We remind investors that last May, the FDA had placed a clinical hold on the companies’ investigational new drug (IND) application for CTX001. Both companies had filed the IND application in April to start a phase I/II study on CTX001 for SCD in the United States. The clinical hold was lifted in October. Vertex and CRISPR Therapeutics are presently enrolling in the phase I/II SCD study on CTX001 in the United States. Also, a phase I/II study of CTX001 for adult transfusion-dependent b-thalassemia is currently enrolling patients in Europe.

In December, as part of a strategic research collaboration formed in 2015, Vertex and CRISPR Therapeutics selected CTX001 to move into clinical development as a gene edited treatment for sickle cell disease and β-thalassemia, which is developed using CRISPR Therapeutics’ proprietary CRISPR/Cas9 technology. Back then, the companies had opted toco-develop and co-commercialize CTX001 and equally share all R&D costs and profits worldwide. Vertex has rights to license up to six new gene editing treatments (including CTX001), developed using the CRISPR/Cas9 technology that emerged from the joint research deal.

Genomic editing technology using CRISPR technology to repair defective genetic material that causes diseases is probably one of the most promising and exciting healthcare innovations seen in decades. Though there are several methods to use CRISPR for targeting genetic defects that cause specific diseases, the most promising is the use of an enzyme called Cas9 to deliver CRISPR for the affected cells.

Other than CRISPR Therapeutics, Intellia Therapeutics (NASDAQ:NTLA) and Editas Medicine, Inc (NASDAQ:EDIT) plan to carry out clinical studies using CRISPR Cas9 to cure diseases.

While CRISPR Therapeutics currently carries a Zacks Rank #2 (Buy), Vertex has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

3 Medical Stocks to Buy Now

The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.

So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.

See them today for free >>



Vertex Pharmaceuticals Incorporated (VRTX): Free Stock Analysis Report

Intellia Therapeutics, Inc. (NTLA): Free Stock Analysis Report

Editas Medicine, Inc. (EDIT): Free Stock Analysis Report

CRISPR Therapeutics AG (CRSP): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.