The results are in. Well, for the first two patients anyway.
Shares of the major gene editing stocks are soaring today after CRISPR Therapeutics (NASDAQ: CRSP) provided the first-ever clinical update for its lead drug candidate, CTX001, in transfusion-dependent beta thalassemia (TDT) and sickle cell disease (SCD). Results from the first patient treated for each disease suggest that the gene-editing approach successfully altered red blood cells and may in fact live up to its curative potential.
The update pushed shares of CRISPR Therapeutics up as much as 26%, while shares of Editas Medicine (NASDAQ: EDIT) and Intellia Therapeutics (NASDAQ: NTLA) rose as much as 16.9% and 17.4%, respectively. The "rising tide lifts all boats" cliche applies here, but the daily gains for peers may be a bit generous, especially after considering the differences in approach.