CRISPR Therapeutics rises on getting $100 mln upfront in Vertex licensing pact

Crispr Therapeutics AG

27/03/2023 15:41

** U.S.-listed shares  CRSP.O  of CRISPR Therapeutics up
3.2% at $44.81
    ** Vertex Pharmaceuticals  VRTX.O  and CRSP ink licensing
agreement for development of VRTX's cell therapies for treatment
of type 1 diabetes
    ** CRSP to get $100 mln upfront payment plus milestone and
royalty payments on potential future type 1 diabetes products
    ** CRSP already had a deal with ViaCyte, which was acquired
by VRTX last year, for development of stem cell therapies for
treatment of type 1 diabetes
    ** CRSP and ViaCyte currently conducting an early-to-mid
stage trial of a candidate
    ** 15 of 28 brokerages rate CRISPR's U.S.-listed shares
"buy" or higher, 11 "hold" and 2 "sell"; median PT $75 -
Refinitiv
    ** Including session gains, U.S.-listed stock up 10.5% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com; Twitter: https://twitter.com/LeroyLeo7))