EDIT - Can This Experimental Gene Therapy Be Enough to Lift Editas Medicine in the Future?
2023-04-03 06:00:00 ET
Editas Medicine (NASDAQ: EDIT) sits at the bleeding edge of biotech's hottest field, gene editing to treat inherited diseases. The company has shifted its focus to a product it is testing for severe sickle cell disease, an affliction that disproportionately affects African Americans, and another blood disease, beta thalassemia.
The company achieves this through a technology known as CRISPR: Clustered, Regularly Interspaced, Short Palindromic Repeats. Using it, scientists can alter a person's defective genes that are responsible for terrible disorders like sickle cell. The field has attracted a lot of attention and money over the past quarter century but has seen several high-profile failures as well.
Investors won't be interested in Editas for the sake of current profits when it continually shows net losses, nor of dividends that it doesn't even offer, but rather for the promise of future discoveries. In 2022, the company's net loss attributable to common stockholders was $220.4 million, or $3.21 per share, compared to $192.5 million, or $2.85 per share, in 2021.
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Can This Experimental Gene Therapy Be Enough to Lift Editas Medicine in the Future?