CRISPR Therapeutics AG (Nasdaq: CRSP) and Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) have announced that they have received U.S. regulatory approval for a groundbreaking treatment for sickle-cell disease. This treatment, called Casgevy or exa-cel, utilizes the transformative gene-editing technology known as CRISPR.
The U.S. Food and Drug Administration (FDA) has granted approval for Casgevy to be used in the treatment of sickle-cell disease in patients aged 12 and older who experience recurrent issues due to blockage of blood flow by affected red blood cells.
Notably, Casgevy had previously secured the world’s first regulatory approval for a CRISPR-based medicine when the UK regulator approved its use for treating sickle-cell disease. This innovative medication corrects a faulty gene present in individuals with sickle-cell disease, stimulating the production of functional hemoglobin capable of delivering oxygen to the body’s tissues.
In addition to CRISPR Therapeutics and Vertex Pharmaceuticals’ achievement, the FDA has also approved Bluebird bio Inc.’s (Nasdaq: BLUE) Lyfgenia, a cell-based gene therapy targeting sickle-cell disease.
Dr. Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, expressed the significance of these approvals, stating, “These milestones mark a crucial medical breakthrough in utilizing innovative cell-based gene therapies to combat potentially life-altering diseases and enhance public health.”
Stay tuned for further developments as these cutting-edge treatments offer hope for individuals suffering from sickle-cell disease.
Sickle-Cell Disease: A Genetic Disorder with Disruptive Effects on Red Blood Cells
Sickle-cell disease is a genetic disorder that has a significant impact on red blood cells, leading to their stiffness and stickiness. This disruption ultimately impairs the delivery of oxygen to the body’s tissues. In the United States, approximately 100,000 individuals are affected by this condition, with a notable higher prevalence among Black people, as reported by the Centers for Disease Control and Prevention.
The Cost of Casgevy: A Potentially Expensive Treatment
According to analysts, Casgevy, the proposed medicine for sickle-cell disease, is expected to come with a high price tag. The Institute for Clinical and Economic Review suggests that a price of up to $2.05 million would be deemed cost-effective for this potentially curative gene therapy. It is widely acknowledged that such groundbreaking therapies command a substantial price. However, it is essential to consider the demographics affected by sickle-cell disease, as it disproportionately impacts the descendants of those who were brought to the United States as slaves. Consequently, both the U.S. government and payers have a special responsibility to ensure access to this new treatment, asserts ICER’s Chief Medical Officer, Dr. David Rind.
Pricing Transparency: The Awaited Announcement
The pricing details for exa-cel, the gene therapy being developed by Vertex Pharmaceuticals, are yet to be announced. Once approved, Vertex will disclose its pricing strategy for exa-cel.
Potential Implications for Crispr-Focused Companies
Looking beyond exa-cel’s FDA decision, Stifel analysts emphasize the potential significance it holds for other companies focusing on Crispr technology. In particular, they draw attention to Editas Medicine Inc.’s experimental cell therapy EDIT-301, which shares several similarities with exa-cel. The approval of exa-cel by the FDA could reduce some of the perceived risks associated with Editas Medicine Inc.’s therapy.
Crispr Therapeutics and Bluebird Bio: A Year in Review
Year-to-Date Performance: +56%
Despite experiencing a 9% dip in their shares on Friday, Crispr Therapeutics has seen a remarkable year, with their stocks soaring by 56%. This biotechnology company has been making significant strides in the field of gene editing and has become a prominent player in the industry.
Year-to-Date Performance: -25%
Bluebird Bio, on the other hand, had a slightly different trajectory this year. While their shares gained over 7% on Friday, the overall performance for the year reflects a decline of 25%. Despite this setback, Bluebird Bio remains committed to its mission of developing gene therapies for severe genetic diseases.
Both companies have had their fair share of ups and downs, but they continue to shape the landscape of gene editing and genomics. The advancements they have made serve as a testament to their dedication and ingenuity in the field. As we move forward, it will be fascinating to witness how these innovative companies contribute to the future of healthcare.