In a landmark move, the FDA has approved Casgevy, the first gene-editing treatment for sickle cell disease in the U.S., a decade after the groundbreaking discovery of CRISPR technology. Developed jointly by biotech companies Vertex Pharmaceuticals (NASDAQ:VRTX) and CRISPR Therapeutics (NASDAQ:CRSP), Casgevy’s potential to change lives is immense.
Sickle cell disease, which affects about 100,000 Americans, causes red blood cells to warp into crescent shapes, blocking blood flow and triggering severe pain. Casgevy employs CRISPR to activate fetal hemoglobin, allowing red blood cells to maintain their healthy shape, effectively eliminating pain crises in most clinical trial patients.
However, its widespread application faces hurdles like high costs and the complexity of the treatment. Indeed, the procedure’s complexity limits its availability to specialized centers. In addition, Analysts are concerned about its appeal, given the lengthy process and the steep price tag of around $2 million per patient. Nevertheless, Vertex aims to launch Casgevy, targeting severe sickle cell cases in the U.S. and Europe, with projected sales reaching $1.2 billion by 2028.
What is the Best Crispr Stock to Buy?
Between VRTX and CRSP stocks, analysts view CRISPR Therapeutics as the better stock to buy. In fact, its price target of $83.36 per share implies over 21% upside potential versus Vertex’s 11.79% upside potential. This is despite CRSP gaining over 71% year-to-date compared to VRTX’s over 23% rise.
