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CRISPR (CRSP) to Report Q1 Earnings: What's in the Cards?
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When CRISPR Therapeutics AG (CRSP - Free Report) reports first-quarter 2023 results, we expect investors to focus on the updates related to the company’s pipeline candidates.
Shares of CRSP have gained 20.8% in the year-to-date period against the industry’s decline of 5.4%.
Image Source: Zacks Investment Research
The company’s earnings surpassed estimates in two of the trailing four quarters and missed the mark in the other two, the average surprise being 3.19%. In the last reported quarter, CRISPR’s earnings beat estimates by 39.22%.
Let’s see how things might have shaped up for the quarter to be reported.
Factors to Note
In the absence of an approved/marketed product in its portfolio, the focus is expected to be on updates related to CRSP's pipeline candidates.
The company’s top line comprises grants and collaboration revenues from its partnership with large-cap biotech, Vertex Pharmaceuticals (VRTX - Free Report) .
CRISPR, in collaboration with VRTX, is developing exagamglogene autotemcel (exa-cel, formerly CTX001) — an investigational ex-vivo CRISPR gene-edited therapy. It is doing so under two separate phase III studies for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT).
In April 2023, CRSP and VRTX announced that they have completed a rolling review submission with the FDA for exa-cel in SCD and TDT indications. The companies have also filed similar submissions on exa-cel in Europe and the United Kingdom last year.
The companies are also evaluating exa-cel in pediatric patients with TDT and SCD in two separate phase III studies.
Last month, CRSP and VRTX entered into another development agreement to advance hypoimmune cell therapies for type-1 diabetes (T1D). Per the contract, CRSP will receive an upfront payment of $100 million for the non-exclusive rights to its gene-editing technology. It will also be eligible for milestone payments and royalties up to $230 million.
CRISPR is also developing two gene-edited allogeneic cell therapy programs, chimeric antigen receptor T cell (CAR-T) candidates, CTX110 and CTX130, for hematological and solid tumor cancers.
Last year, management announced positive data from the phase I CARBON study, which evaluated CTX110 in relapsed/refractory B-cell malignancies. The company has now started a phase II study, evaluating the consolidation regimen of CTX110.
CTX130 is being evaluated in two ongoing independent early-stage studies. The idea is to assess the safety and efficacy of several dose levels of the candidate in adults with solid tumors such as renal cell carcinoma (COBALT-RCC study) and certain T-cell and B-cell hematologic malignancies (COBALT-LYM study).
CRISPR is also advancing several next-generation CAR-T product candidates, namely CTX112 targeting CD19 antigen and CTX131 targeting CD70 antigen. These candidates have been designed to enhance CAR-T potency. An early-stage study on CTX112 is expected to begin in the first half of 2023.
Activities related to the development of CRSP’s 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 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 has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and Most Accurate Estimate are pegged at a loss of $1.67 per share.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcare space, as our model shows that these have the right combination of elements to report an earnings beat this reporting cycle.
Allogene’s shares have plunged 12.1% in the year-to-date period. ALLO’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.33%. The company will report first-quarter earnings on May 3, after market close.
Amarin (AMRN - Free Report) has an Earnings ESP of +100% and a Zacks Rank #3.
Amarin’s shares have surged 14.1% in the year-to-date period. The company’s earnings beat estimates in two of the last four quarters and missed the mark in the other two, delivering a negative average surprise of 14.29%. AMRN will report first-quarter earnings on May 3, before market open.
Image: Bigstock
CRISPR (CRSP) to Report Q1 Earnings: What's in the Cards?
When CRISPR Therapeutics AG (CRSP - Free Report) reports first-quarter 2023 results, we expect investors to focus on the updates related to the company’s pipeline candidates.
Shares of CRSP have gained 20.8% in the year-to-date period against the industry’s decline of 5.4%.
Image Source: Zacks Investment Research
The company’s earnings surpassed estimates in two of the trailing four quarters and missed the mark in the other two, the average surprise being 3.19%. In the last reported quarter, CRISPR’s earnings beat estimates by 39.22%.
CRISPR Therapeutics AG Price and EPS Surprise
CRISPR Therapeutics AG price-eps-surprise | CRISPR Therapeutics AG Quote
Let’s see how things might have shaped up for the quarter to be reported.
Factors to Note
In the absence of an approved/marketed product in its portfolio, the focus is expected to be on updates related to CRSP's pipeline candidates.
The company’s top line comprises grants and collaboration revenues from its partnership with large-cap biotech, Vertex Pharmaceuticals (VRTX - Free Report) .
CRISPR, in collaboration with VRTX, is developing exagamglogene autotemcel (exa-cel, formerly CTX001) — an investigational ex-vivo CRISPR gene-edited therapy. It is doing so under two separate phase III studies for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT).
In April 2023, CRSP and VRTX announced that they have completed a rolling review submission with the FDA for exa-cel in SCD and TDT indications. The companies have also filed similar submissions on exa-cel in Europe and the United Kingdom last year.
The companies are also evaluating exa-cel in pediatric patients with TDT and SCD in two separate phase III studies.
Last month, CRSP and VRTX entered into another development agreement to advance hypoimmune cell therapies for type-1 diabetes (T1D). Per the contract, CRSP will receive an upfront payment of $100 million for the non-exclusive rights to its gene-editing technology. It will also be eligible for milestone payments and royalties up to $230 million.
CRISPR is also developing two gene-edited allogeneic cell therapy programs, chimeric antigen receptor T cell (CAR-T) candidates, CTX110 and CTX130, for hematological and solid tumor cancers.
Last year, management announced positive data from the phase I CARBON study, which evaluated CTX110 in relapsed/refractory B-cell malignancies. The company has now started a phase II study, evaluating the consolidation regimen of CTX110.
CTX130 is being evaluated in two ongoing independent early-stage studies. The idea is to assess the safety and efficacy of several dose levels of the candidate in adults with solid tumors such as renal cell carcinoma (COBALT-RCC study) and certain T-cell and B-cell hematologic malignancies (COBALT-LYM study).
CRISPR is also advancing several next-generation CAR-T product candidates, namely CTX112 targeting CD19 antigen and CTX131 targeting CD70 antigen. These candidates have been designed to enhance CAR-T potency. An early-stage study on CTX112 is expected to begin in the first half of 2023.
Activities related to the development of CRSP’s 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 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 has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and Most Accurate Estimate are pegged at a loss of $1.67 per share.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcare space, as our model shows that these have the right combination of elements to report an earnings beat this reporting cycle.
Allogene Therapeutics (ALLO - Free Report) has an Earnings ESP of +3.43% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allogene’s shares have plunged 12.1% in the year-to-date period. ALLO’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.33%. The company will report first-quarter earnings on May 3, after market close.
Amarin (AMRN - Free Report) has an Earnings ESP of +100% and a Zacks Rank #3.
Amarin’s shares have surged 14.1% in the year-to-date period. The company’s earnings beat estimates in two of the last four quarters and missed the mark in the other two, delivering a negative average surprise of 14.29%. AMRN will report first-quarter earnings on May 3, before market open.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar