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CRISPR (CRSP) to Report Q2 Earnings: What's in the Cards?
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We expect investors to focus on the updates related to CRISPR Therapeutics AG’s (CRSP - Free Report) pipeline candidates when it reports second-quarter 2022 results.
Shares of CRISPR Therapeutics have risen 1.8% so far in the year, against the industry’s decline of 21.5%.
Image Source: Zacks Investment Research
CRSP’s earnings surpassed expectations in two of the trailing four quarters and missed twice, the average surprise being 24.82%. In the last reported quarter, CRISPR Therapeutics witnessed a negative earnings surprise of 21.47%.
Factors to Note
CRISPR Therapeutics’ top line mainly comprises grants and collaboration revenues earned by CRSP from its partnership with large-cap biotech Vertex Pharmaceuticals (VRTX - Free Report) .
In the absence of an approved/marketed product in its portfolio, the focus of the second quarter earnings call will be on updates related to the CRISPR Therapeutics pipeline.
As part of its collaboration with Vertex Pharmaceuticals, CRISPR Therapeutics has been developing exagamglogene autotemcel (exa-cel, formerly CTX001), an investigational ex-vivo CRISPR gene-edited therapy for two indications — sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) in two separate phase III studies. CRISPR Therapeutics and Vertex Pharmaceuticals have already achieved the target enrolment in both these studies, and more than 75 patients have been dosed across both studies to date. A regulatory submission for exa-cel to treat both indications is anticipated later this year.
CRISPR Therapeuticshas also been advancing its wholly-owned immuno-oncology pipeline, which currently consists of three chimeric antigen receptor T cell (CAR-T) therapy candidates, namely CTX110, CTX120 and CTX130, for the treatment of hematological and solid-tumor cancers.
CRSP is currently evaluating CTX110 in the phase I CARBON study for the treatment of relapsed/refractory B-cell malignancies. Additional data from this study are expected later this year.
An ongoing phase I study has been evaluating the safety and efficacy of several dose levels of CTX120 for the treatment of relapsed or refractory multiple myeloma. Two ongoing independent phase I studies have been evaluating the safety and efficacy of several dose levels of CTX130 for treating solid tumors such as renal cell carcinoma (COBALT-RCC study) and certain T-cell and B-cell hematologic malignancies (COBALT-LYM study).
In June 2022, management announced preliminary results from the COBALT-LYM study, which showed that treatment with CTX130 can produce broad activity and deep responses in patients with relapsed/refractory T-cell lymphomas, especially at higher dose levels.
Activities related to the development of pipeline candidates are likely to have escalated operating expenses in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CRISPR Therapeutics this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: CRISPR Therapeutics has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of $2.23.
Here are some large drug/biotech stocks that have the right combination of elements to beat on earnings this time around:
AstraZeneca (AZN - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank #3.
AstraZeneca’s stock has risen 14.5% this year so far. AstraZeneca topped earnings estimates in two of the last four quarters, missed on one occasion and met the mark on the remaining one. AZN has a four-quarter earnings surprise of 1.32%, on average. AstraZeneca is scheduled to release its second-quarter 2022 results on Jul 29.
Bayer (BAYRY - Free Report) has an Earnings ESP of +5.26% and a Zacks Rank #3.
Bayer’s performance has been pretty impressive, with the company exceeding earnings expectations in each of the trailing four quarters, the average surprise being 17.71%.
Bayer is scheduled to release its second-quarter 2022 results on Aug 4. The stock is up 9.7% this year so far.
Image: Bigstock
CRISPR (CRSP) to Report Q2 Earnings: What's in the Cards?
We expect investors to focus on the updates related to CRISPR Therapeutics AG’s (CRSP - Free Report) pipeline candidates when it reports second-quarter 2022 results.
Shares of CRISPR Therapeutics have risen 1.8% so far in the year, against the industry’s decline of 21.5%.
Image Source: Zacks Investment Research
CRSP’s earnings surpassed expectations in two of the trailing four quarters and missed twice, the average surprise being 24.82%. In the last reported quarter, CRISPR Therapeutics witnessed a negative earnings surprise of 21.47%.
Factors to Note
CRISPR Therapeutics’ top line mainly comprises grants and collaboration revenues earned by CRSP from its partnership with large-cap biotech Vertex Pharmaceuticals (VRTX - Free Report) .
In the absence of an approved/marketed product in its portfolio, the focus of the second quarter earnings call will be on updates related to the CRISPR Therapeutics pipeline.
As part of its collaboration with Vertex Pharmaceuticals, CRISPR Therapeutics has been developing exagamglogene autotemcel (exa-cel, formerly CTX001), an investigational ex-vivo CRISPR gene-edited therapy for two indications — sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) in two separate phase III studies. CRISPR Therapeutics and Vertex Pharmaceuticals have already achieved the target enrolment in both these studies, and more than 75 patients have been dosed across both studies to date. A regulatory submission for exa-cel to treat both indications is anticipated later this year.
CRISPR Therapeuticshas also been advancing its wholly-owned immuno-oncology pipeline, which currently consists of three chimeric antigen receptor T cell (CAR-T) therapy candidates, namely CTX110, CTX120 and CTX130, for the treatment of hematological and solid-tumor cancers.
CRSP is currently evaluating CTX110 in the phase I CARBON study for the treatment of relapsed/refractory B-cell malignancies. Additional data from this study are expected later this year.
An ongoing phase I study has been evaluating the safety and efficacy of several dose levels of CTX120 for the treatment of relapsed or refractory multiple myeloma. Two ongoing independent phase I studies have been evaluating the safety and efficacy of several dose levels of CTX130 for treating solid tumors such as renal cell carcinoma (COBALT-RCC study) and certain T-cell and B-cell hematologic malignancies (COBALT-LYM study).
In June 2022, management announced preliminary results from the COBALT-LYM study, which showed that treatment with CTX130 can produce broad activity and deep responses in patients with relapsed/refractory T-cell lymphomas, especially at higher dose levels.
Activities related to the development of pipeline candidates are likely to have escalated operating expenses in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CRISPR Therapeutics this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: CRISPR Therapeutics has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of $2.23.
Zacks Rank: CRISPR Therapeutics currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
CRISPR Therapeutics AG Price
CRISPR Therapeutics AG price | CRISPR Therapeutics AG Quote
Stocks to Consider
Here are some large drug/biotech stocks that have the right combination of elements to beat on earnings this time around:
AstraZeneca (AZN - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank #3.
AstraZeneca’s stock has risen 14.5% this year so far. AstraZeneca topped earnings estimates in two of the last four quarters, missed on one occasion and met the mark on the remaining one. AZN has a four-quarter earnings surprise of 1.32%, on average. AstraZeneca is scheduled to release its second-quarter 2022 results on Jul 29.
Bayer (BAYRY - Free Report) has an Earnings ESP of +5.26% and a Zacks Rank #3.
Bayer’s performance has been pretty impressive, with the company exceeding earnings expectations in each of the trailing four quarters, the average surprise being 17.71%.
Bayer is scheduled to release its second-quarter 2022 results on Aug 4. The stock is up 9.7% this year so far.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.