CRSP - Why CRISPR Therapeutics Stock Is Jumping Again Today
2023-11-17 11:12:15 ET
Shares of CRISPR Therapeutics (NASDAQ: CRSP) were jumping 10.1% higher as of 10:58 a.m. ET on Friday. The solid move followed Thursday's gain of more than 8%.
There's a good reason for this accelerated momentum for the gene-editing stock . On Thursday, CRISPR Therapeutics and its partner, Vertex Pharmaceuticals (NASDAQ: VRTX) , announced that the United Kingdom's Medicines and Healthcare products Regulatory Agency (MHRA) approved Casgevy (exa-cel) for treating rare blood disorders sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT).
At first glance, the U.K. approval might not seem to be all that big of a deal. After all, there are only around 2,000 patients in the U.K. who will likely be eligible for Casgevy. More importantly, Vertex and CRISPR Therapeutics must now secure reimbursement in the U.K. Bluebird Bio ended up throwing in the towel in Europe for its gene therapies despite winning regulatory approvals because it couldn't reach an agreement on an acceptable price.
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Why CRISPR Therapeutics Stock Is Jumping Again Today