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RegMed Investors’ (RMi) mid-day: Editas Medicine (EDIT) CEO Resigns — collapsing gene editing peer group

January 22, 2019 1:13pm

EDIT (-$4.48 or -17.13%), Intellia Therapeutics (NTLA -$1.05 or -6.88%) and CRISPR Therapeutics (CRSP -$4.07 or -10.96%) equities plunged

EDIT volume is HIGH with 3.7 M shares traded <3 month average = 792.8 K shares, CRSP volume is also HIGH with 1.79 M shares traded <3 month average = 834.7 K shares> and NTLA volume is as LOWER with 577.05 K shares traded <3 month average = 694.3 K shares>

The news comes a day after EDIT announced the publication of early data supporting its gene-editing therapy in an eye disorder that primarily affects the retina. (Investor’s Business Daily)

Ms. Katherine Bosley resigned as Editas CEO and president. She will also leave EDIT's board of directors (BOD), but plans to remain in an advisory capacity until year's end. In the interim, board member Cynthia Collins will become Editas CEO.

Cynthia Collins, a member of the BOD and former CEO of Human Longevity Inc., will serve as interim chief executive officer while EDIT searches for a permanent CEO.

The Bottom Line: It has been said, “bluebird bio (BLUE) and Global Blood Therapeutics (GBT) are about five years ahead of Crispr and Vertex (VRTX). Both biotech stocks are also working on treatments for sickle cell disease.

A Citigroup analyst cited two significant issues when he downgraded shares of the stock to sell. The company's lead candidate, CTX001, is intended to treat patients with the same hemoglobin problems as new drug candidates much further along the development timeline. CRISPR didn't start enrolling patients until late 2018, but LentiGlobin from bluebird bio (BLUE) could earn approval in the EU later this year. An application in the U.S. isn't far behind, either.
CRISPR Therapeutics will probably have interim results for CTX001 available for review by the end of the year. This program's being partially funded by CRISPR's collaboration partner, Vertex Pharmaceuticals, which should limit the losses if it flops <The Motley Fool>.
Crispr recently began its first clinical studies of a gene-editing therapy in sickle cell disease.

Just ... another vote for CRISPR equities being ... TRADING stocks ...

35 companies, 1 interpreter!

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