Back to top

Image: Bigstock

Editas (EDIT) Down on Initial Data From Eye Disease Study

Read MoreHide Full Article

Editas Medicine, Inc. (EDIT - Free Report) announced data from the phase I/II BRILLIANCE study evaluating its lead candidate, EDIT-101, for the treatment of blindness due to Leber congenital amaurosis 10 (LCA10).

Per the company, preliminary results from the study are based on safety and efficacy data from the first two cohorts – the adult low-dose cohort and the adult mid-dose cohort. Safety data was evaluated based on six subjects treated in the low-dose and mid-dose cohorts, while efficacy data was assessed based on data from five subjects treated in the adult low-dose cohort and the adult mid-dose cohort.

In the mid-dose cohort, subject 1 showed improvement in best corrected visual acuity (“BCVA”) through six months and subject 2 showed improvement with a stable BCVA through three months and improvement in retinal sensitivity.

Shares of Editas were down 18.9% on Wednesday as the data might have failed to impress investors’ expectation.  The stock has plunged 39.4% so far this year compared with the industry’s decrease of 5.5%.

Zacks Investment ResearchImage Source: Zacks Investment Research

We note that, in June 2021, Editas started enrollment in the first of two planned pediatric cohorts in the phase I/II BRILLIANCE study evaluating EDIT-101 for treating LCA10. Treatment in the adult high-dose cohort is currently ongoing while treatment in the pediatric mid-dose cohort is just beginning.

Editas has no approved product in its portfolio at the moment. Therefore, successful development of EDIT-101, along with other pipeline candidates, remains in key focus for the company.

Editas has also commenced the phase I/II RUBY study to assess the safety and efficacy of another pipeline candidate, EDIT-301, for treating sickle cell disease. The company plans to dose the first patient in the RUBY study by the end of 2021.

Editas plans to submit an investigational new drug filing to the FDA to begin clinical studies on EDIT-301 for the treatment of beta-thalassemia by 2021-end.

Stiff competition remains a headwind for Editas as several other companies like CRISPR Therapeutics (CRSP - Free Report) , Intellia Therapeutics (NTLA - Free Report) and Beam Therapeutics (BEAM - Free Report) are also engaged in developing candidates to address different indications using CRISPR/Cas9 gene-editing technology.

Zacks Rank

Editas currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.