Crispr exa-cel AdCom briefing docs a ‘possible best case,’ says Mizuho

After the FDA released briefing documents for Vertex Pharmaceuticals (VRTX) and Crispr Therapeutics’ (CRSP) exa-cel’s upcoming advisory committee, or AdCom, meeting for sickle cell disease scheduled for Tuesday, October 31, Mizuho said “it’s looking more like a Halloween treat than a trick.” The document is relatively short and “reads pretty clean” in what is a “possible best case scenario,” according to the analyst, who is expecting a “relatively benign” meeting. While there is some discussion in the document related to the assessment of off-target editing, the document also states in what is “perhaps the most important line in the entire document” – “However, given the strongly positive results, FDA does not believe that the study design limitations call the efficacy of exa-cel into question” – the analyst tells investors. Mizuho keeps a Buy rating and $82 price target on Crispr Therapeutics shares.