CRISPR Therapeutics AG (CRSP) shares jumped 5.67% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $125.75 per share. in the regular trading on Thursday, CRSP’s stock lost 0.63%. CRSP shares have risen 39.13% over the last 12 months, and they have moved down 4.62% in the past week. Over the past three months, the stock has lost 9.77%, while over the past six months, it has declined 28.92%.

Let’s check out its recent developments

CRSP Financial results announcement

On July 29, 2021, CRISPR Therapeutics (CRSP reported financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

• CRSP reported revenue of $900.2 million for the second quarter of 2021, compared to less than $0.1 million for the second quarter of 2020.
• In Q2 2021, R&D expenses were $108.3 million compared to $59.4 million in Q2 2020.
• General and administrative expenses were $29.8 million in Q2 2021, compared to $21.4 million in Q2 2020.
• In Q2 2021, net income was 2 million compared to a net loss of $79.7 million for the second quarter of 2020.
• As of June 30, 2021, the company had cash, cash equivalents, and marketable securities of $2,589.4 million, compared to $1,806.2 million as of March 31, 2021.

CRSP partnership with Capsida Biotherapeutics

On June 15, 2021, CRISPR Therapeutics (CRSP) and Capsida Biotherapeutics Inc signed a strategic partnership to research, develop, manufacture and commercialize in vivo gene editing therapies delivered with engineered AAV vectors for the treatment of familial amyotrophic lateral sclerosis (ALS) and Friedreich’s ataxia.

Capsida will lead research and development of the ALS program and conduct capsid engineering for both programs, and CRISPR Therapeutics will lead research and development of Friedreich’s ataxia program and perform gene-editing activities for both programs.

New CTX001 data presentation at European Hematology Association Annual Meeting

On June 11, 2021, Vertex Pharmaceuticals Incorporated (VRTX) and CRISPR Therapeutics (CRSP) released new data on 22 patients, with follow-up of at least 3 months, and ranging from 4 months to 26 months, treated with the investigational CRISPR/Cas9-based gene-editing therapy, CTX001, that show a consistent and sustained response to treatment.

CTX001 is being investigated in two ongoing Phase 1/2 clinical trials as a potential one-time therapy for patients suffering from transfusion-dependent beta-thalassemia (TDT) and severe sickle cell disease (SCD). In total, more than 40 patients have been dosed across both studies to date.

Conclusion

The Q2 2021 financial results which were announced yesterday were the reason behind CRSP stock surging in the after-markets on Thursday. we are pretty confident that CRSP can end the weekly trading by continuing its positive momentum on Friday as well.