CRSP - Why Shares of Editas Medicine Rose Monday
2023-04-17 14:50:38 ET
Shares of clinical-stage biotech Editas Medicine (NASDAQ: EDIT) rose as much as 14% on Monday, lifted by a trend over the past couple of days favoring gene-editing stocks. Editas stock also benefited from the news last week that the company was appointing a new chairman of the board and a new independent director.
The stock is up more than 20% over the past five days, though it is still down more than 10% so far this year.
Several gene-editing companies saw their shares rise when it was reported that the Institute for Clinical and Economic Review (ICER), an independent group, said that exa-cel -- a one-dose treatment for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) being developed by CRISPR Therapeutics (NASDAQ: CRSP) and Vertex Pharmaceuticals (NASDAQ: VRTX) -- would be cost-effective, at under $1.9 million per dose, compared to the long-term costs most SCD patients face.
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Why Shares of Editas Medicine Rose Monday