Crispr Therapeutics said Thursday it will unveil the first data from human studies of its gene-edited lymphoma drug — and CRSP stock popped.
The biotech company is trying to create an off-the-shelf version of cancer treatments called CAR-T from Gilead Sciences and Novartis. These companies extract and train a patient's own immune cells to fight cancer.
Crispr and others hope to use gene-edited cells from healthy donors. This so-called allogeneic approach is potentially less expensive and quicker to create.
Crispr's presentation will take place at the Annual European Hematology Association 2022 Hybrid Congress on June 11 in Vienna and online.
On the stock market today, CRSP stock jumped 6.6% to 46.54.
CRSP Stock: Using Gene Editing In Cancer
Crispr is attempting to treat T-cell lymphoma, a type of cancer that begins in white blood cells. The early-phase study took place in patients with relapsed cancer or cancer that didn't respond to other treatments. Shares of CRSP stock popped in average volume, but remained below their 50-day moving average, according to MarketSmith.com.
Crispr is well known for its gene-editing efforts in patients with blood diseases beta thalassemia and sickle cell. But this is the first-ever presentation of human data from its T-cell lymphoma program, Crispr said in a news release.
Bearishly, CRSP stock has a Relative Strength Rating of 16 out of a best-possible 99. This puts shares in the bottom 16% of all stocks in terms of 12-month performance, according to IBD Digital.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
