CRISPR Therapeutics Reports $99 Million in Casgevy Sales Amid Widening Net Loss
CRISPR Therapeutics (CRSP) reported third-quarter sales of $99 million for its sickle cell and beta thalassemia therapy, Casgevy, marking a 30% increase from the previous quarter. While the collaboration with Vertex Pharmaceuticals is beginning to reduce net collaboration expenses, CRISPR's overall net loss widened to $111.4 million compared to $106.4 million in the prior year. The company's cash position rose to $2.28 billion, largely driven by a $585 million convertible note sale in March rather than organic revenue. Investors are now shifting focus toward upcoming clinical catalysts, specifically the Phase 1b data for CTX310 regarding severe hypertriglyceridemia, which is expected to be presented at the American Heart Association meeting.