EDIT - Here's Why Editas Medicine Jumped 45.3% in November
Shares of Editas Medicine (NASDAQ: EDIT) rose more than 45% last month, according to data from S&P Global Market Intelligence. The gene editing pioneer rose for reasons both internal and external.
The business announced an amended collaboration with Celgene (NASDAQ: CELG) for developing engineered immune cells and will receive an upfront payment of $70 million as a result of the new agreement. The company also enjoyed a bump from peer CRISPR Therapeutics, which reported promising results for the first two patients dosed with its lead drug candidate, CTX001. Investors took that as evidence that CRISPR-based medicines might be the real deal, although that's a mighty big leap.
The gene editing company also reported a business update and operating results for the third quarter of 2019, but there wasn't much to report for the pre-commercial entity.