CRISPR's Q3 Loss Exceeds Estimates, Revenue Up

CRISPR Therapeutics (NASDAQ:CRSP) reported a loss of $1.15 per share for the third quarter of 2026, exceeding the anticipated loss of $1.06 per share according to the Zacks Consensus Estimate. This result is slightly better than the $1.17 per share loss recorded in the same quarter the previous year.

The company’s total revenue for the quarter reached $12.7 million, surpassing the Zacks Consensus Estimate of $9.9 million. This revenue was primarily composed of $12.3 million from collaboration agreements, with the remainder from grants. In contrast, the previous year’s third-quarter revenue was $0.9 million, solely from grants.

Year-to-date, CRISPR Therapeutics’ stock has declined by 4.6%, while the broader industry has experienced a growth of 10.9%¹.

Strong Performance of Casgevy Sales

CRISPR Therapeutics, in collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX), has developed the CRISPR/Cas9 gene therapy known as Casgevy. This therapy is approved in both the United States and Europe for treating sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). Under their agreement, Vertex is responsible for the global development, manufacturing, and commercialization of Casgevy, with profits and costs shared in a 60:40 ratio with CRISPR Therapeutics.

Casgevy is currently approved in 39 countries across North America, Europe, and the Middle East for patients aged 12 and older. Additionally, five countries have extended approval to younger children, broadening the potential patient base.

In the third quarter, Casgevy received approval in the United Kingdom for children aged five and older with severe SCD or TDT. The United Arab Emirates and Bahrain also approved the therapy for children as young as two. These approvals follow the FDA’s July authorization for patients aged two and older.

Vertex reported $99 million in Casgevy sales for the third quarter of 2026, marking a 30% increase from the previous quarter and nearly a sixfold increase compared to the same period last year².

Financial Overview and Pipeline Developments

CRISPR Therapeutics’ research and development expenses rose by 22% year-over-year to $71.9 million in the third quarter, primarily due to increased external R&D expenses and sublicense fees, partially offset by reduced employee-related costs. General and administrative expenses also saw a 5.5% increase, totaling $17.9 million.

There was a 27.7% decline in collaboration expenses, net, to $41.3 million, attributed to CRISPR’s increased share of Casgevy revenues under the collaboration with Vertex. The company reported $11.7 million in acquired in-process R&D expenses, which were not present in the previous year’s quarter, primarily due to a development milestone under the Sirius Therapeutics agreement.

As of the end of September, CRISPR Therapeutics held $2.28 billion in cash, cash equivalents, and marketable securities, compared to $2.36 billion at the end of June 2026. This substantial cash reserve supports the advancement of its diverse clinical pipeline, with several clinical updates anticipated before year-end³.

Pipeline Progress and Future Prospects

CRISPR Therapeutics is focusing on CTX310, an investigational gene-editing therapy targeting ANGPTL3. The FDA recently granted Regenerative Medicine Advanced Therapy designation for this candidate, aimed at treating severe hypertriglyceridemia and refractory hypercholesterolemia. In August, the company shared promising durability data from a phase Ia study, indicating that a single treatment with CTX310 resulted in sustained reductions in ANGPTL3 protein, triglycerides, and LDL cholesterol levels for up to one year. Phase Ib study results for patients with severe hypertriglyceridemia are expected on November 9, 2026.

Additionally, the company is progressing with CTX340 for refractory hypertension and CTX460 for alpha-1 antitrypsin deficiency, both in phase I trials. The preclinical CTX321 program, targeting elevated lipoprotein(a), is advancing through investigational new drug and clinical trial application-enabling studies.

CRISPR Therapeutics is also developing Zugo-cel, an allogeneic CAR-T candidate, for autoimmune diseases and blood cancers. This candidate is under evaluation in three ongoing phase I studies for various autoimmune conditions, including lupus, systemic sclerosis, inflammatory myositis, multiple sclerosis, and other immune-related disorders. Global enrollment is ongoing, with phase I data for systemic sclerosis expected later this month.

In the field of immuno-oncology, a phase I/II study of Zugo-cel for B-cell malignancies is underway. CRISPR is also testing Zugo-cel in combination with Eli Lilly’s Jaypirca (pirtobrutinib) for aggressive B-cell lymphomas, with several updates anticipated by the end of 2026.

The company’s siRNA candidate, CTX611, is being tested in a phase II study for patients undergoing total knee arthroplasty, with an update expected before the year’s end.

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