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CRISPR (CRSP) to Post Q2 Earnings: What's in the Offing?
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When CRISPR Therapeutics AG (CRSP - Free Report) reports second-quarter 2023 results, we expect investors to focus on the updates related to the company’s pipeline candidates. The press release announcing the company’s financial performance in the second quarter is anticipated next week.
The company’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 23.52%. In the last reported quarter, CRISPR’s earnings beat estimates by 59.88%.
Shares of CRSP have gained 25.4% in the year-to-date period against the industry’s decline of 12.9%.
Image Source: Zacks Investment Research
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 June, CRISPR and Vertex announced that the FDA accepted their biologics license applications (BLAs) for exa-cel to treat SCD and TDT. The FDA granted priority review to the BLA filing for exa-cel in SCD indication and the exa-cel filing in TDT indication has been accepted for a standard review by the agency.
The FDA’s final decision on the BLAs for exa-cel in SCD and TDT indications is expected by Dec 8, 2023 and Mar 30, 2024, respectively. CRISPR and Vertex are also evaluating exa-cel in pediatric patients with TDT and SCD in two separate phase III studies. An update is expected at the second quarter’s conference call.
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.
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. Both candidates are currently being studied in early-mid-stage studies after being cleared for clinical study early this year.
Updates regarding the progress of these development programs are anticipated in the upcoming earnings release. Activities related to the development of CRSP’s pipeline candidates are also 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.
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 $2.18 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
CRISPR Therapeutics AG Price, Consensus and EPS Surprise
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.
bluebird bio (BLUE - Free Report) has an Earnings ESP of +9.16% and a Zacks Rank #3.
bluebird’s stock has declined 43.9% year to date. BLUE beat earnings estimates in each of the last four quarters. BLUE has a four-quarter earnings surprise of 88.25%, on average.
Caribou’s stock has gained 7% in the year so far. Caribou beat earnings estimates in three of the last four reported quarters and missed once. CRBU has a negative earnings surprise of 1.36%, on average.
Image: Bigstock
CRISPR (CRSP) to Post Q2 Earnings: What's in the Offing?
When CRISPR Therapeutics AG (CRSP - Free Report) reports second-quarter 2023 results, we expect investors to focus on the updates related to the company’s pipeline candidates. The press release announcing the company’s financial performance in the second quarter is anticipated next week.
The company’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 23.52%. In the last reported quarter, CRISPR’s earnings beat estimates by 59.88%.
Shares of CRSP have gained 25.4% in the year-to-date period against the industry’s decline of 12.9%.
Image Source: Zacks Investment Research
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 June, CRISPR and Vertex announced that the FDA accepted their biologics license applications (BLAs) for exa-cel to treat SCD and TDT. The FDA granted priority review to the BLA filing for exa-cel in SCD indication and the exa-cel filing in TDT indication has been accepted for a standard review by the agency.
The FDA’s final decision on the BLAs for exa-cel in SCD and TDT indications is expected by Dec 8, 2023 and Mar 30, 2024, respectively. CRISPR and Vertex are also evaluating exa-cel in pediatric patients with TDT and SCD in two separate phase III studies. An update is expected at the second quarter’s conference call.
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.
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. Both candidates are currently being studied in early-mid-stage studies after being cleared for clinical study early this year.
Updates regarding the progress of these development programs are anticipated in the upcoming earnings release. Activities related to the development of CRSP’s pipeline candidates are also 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.
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 $2.18 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
CRISPR Therapeutics AG Price, Consensus and EPS Surprise
CRISPR Therapeutics AG price-consensus-eps-surprise-chart | CRISPR Therapeutics AG Quote
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.
bluebird bio (BLUE - Free Report) has an Earnings ESP of +9.16% and a Zacks Rank #3.
bluebird’s stock has declined 43.9% year to date. BLUE beat earnings estimates in each of the last four quarters. BLUE has a four-quarter earnings surprise of 88.25%, on average.
Caribou Biosciences (CRBU - Free Report) has an Earnings ESP of +5.64% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Caribou’s stock has gained 7% in the year so far. Caribou beat earnings estimates in three of the last four reported quarters and missed once. CRBU has a negative earnings surprise of 1.36%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.