Cathie Wood Increases Stake in CRISPR Therapeutics Amid Strategic Developments
Cathie Wood, founder of Ark Invest, has increased her stake in CRISPR Therapeutics (CRSP) by purchasing $1.1 million and $2.3 million worth of stock on October 9 and 12 through the ARK Genomic Revolution ETF. Despite a more than 25% decline over the past year, Wood's continued investment signals confidence in the biotech firm’s long-term potential. CRISPR Therapeutics has shown financial improvement with $76 million in Casgevy revenue during Q2 and reduced net losses compared to last year. The company holds sufficient cash reserves for four years of operations while developing new therapies, including CTX-310, a promising treatment targeting heart disease through gene editing. The firm is also preparing key data from its phase 2 trial on CTX611, a blood thinner with potential applications in multiple clotting disorders. These developments could expand CRISPR’s market reach beyond rare diseases and into broader therapeutic areas.
Topics: ARK Invest biotech Cathie Wood CRISPR Therapeutics gene-editing