CRISPR Therapeutics plunges 11%

CRISPR Therapeutics shares dropped about 11% on Friday as investors reacted to weak reported quarterly results and new pricing pressure across gene therapy. (blockonomi.com) (coincentral.com) The reported miss was sharp: revenue of about $0.86 million versus analyst expectations of roughly $4.72 million, and a loss per share of $1.37 versus expectations of $1.15. Shares touched an intraday low near $51.21, according to market reports published April 25. (blockonomi.com) (coincentral.com) The second shock came from Regeneron, which said on April 23 that its newly approved gene therapy Otarmeni would be provided free in the United States to eligible patients. Otarmeni treats OTOF-related genetic hearing loss, not sickle cell disease, but the free-price announcement landed in the same week as the CRISPR selloff. (regeneron.com) Gene therapy is designed as a one-time treatment, which means companies often seek very high upfront prices instead of years of repeat sales. That makes reimbursement, insurer approval, and hospital financing central to the business case long after the science is proven. (fda.gov) (biopharmadive.com) Casgevy is CRISPR Therapeutics’ flagship commercial product with Vertex Pharmaceuticals, and the Food and Drug Administration approved it in December 2023 for sickle cell disease patients 12 and older with recurrent vaso-occlusive crises. The treatment was the first Food and Drug Administration-approved therapy to use CRISPR/Cas9 genome editing. (fda.gov 1) (fda.gov 2) The company had entered 2026 arguing the launch was accelerating. In a January 12 milestone update, CRISPR Therapeutics said Casgevy commercialization was continuing and said it was starting the year with about $2 billion in cash, cash equivalents, and marketable securities. (crisprtx.com) Vertex’s own results gave the clearest recent read on Casgevy demand. Vertex reported $54 million in fourth-quarter 2025 Casgevy revenue, $116 million for full-year 2025, and 64 patients infused during the year, including 30 in the fourth quarter. (vertexpharma.com) (biopharmadive.com) Insider selling also added to the market’s unease. CRISPR Therapeutics’ investor relations site shows Form 4 filings on March 17 and March 24, including a filing tied to Chief Executive Samarth Kulkarni’s March sale of shares. (crisprtx.gcs-web.com) Wall Street had not abandoned the stock before Friday’s drop. Market reports still described analyst sentiment as a consensus “Moderate Buy,” with an average price target in the mid-$60s, even as investors reassessed how quickly Casgevy can scale. (blockonomi.com) (coincentral.com) For CRISPR Therapeutics, Friday’s move was less about whether gene editing works than about whether expensive one-time medicines can turn scientific milestones into predictable revenue. (fda.gov) (vertexpharma.com)