CRISPR Therapeutics (CRSP) Plunges 9% After Releasing Gene Edited Drug

The company said it will start a Phase 2 study of its gene-edited drug candidate for the treatment of cancer. CRSP stock plummets 9.62% in the pre-market to $92.70. For the study, which was conducted on 26 patients, the company gave the drug for 28 days. The results were impressive. After seeing a pop in the regular session, CRSP stock gave back some of its gains in the after-hour. For now, the company is using patient-specific cells. It uses its CRISPR technology to transform them into a customized version of a gene.

A clinical study conducted by Crispr showed that CTX110 could provide patients with B-cell non-Hodgkin’s lymphomas an off-the-shelf treatment that is similar to CAR-T. Crispr’s drug appears to be safe despite its side effects. However, a rare syndrome known as cytokine release syndrome was observed in a small number of participants. Following the positive results of its study, Crispr Pharmaceuticals is planning to expand the study to 2022 and gather more evidence for its approval.