CRISPR Therapeutics(CRSP) - 2024 Q4 - Annual Results

Financial Performance - CRISPR Therapeutics has approximately $1.9 billion in cash, cash equivalents, and marketable securities as of December 31, 2024, an increase from $1.7 billion at the end of 2023[16] - The net loss for Q4 2024 was $37.3 million, compared to a net income of $89.3 million in Q4 2023[16] - Total revenue for Q4 2024 was $35.691 million, a decrease of 82.3% compared to $201.206 million in Q4 2023[24] - Collaboration revenue for the full year 2024 was $35 million, down from $370 million in 2023, representing a decline of 90.5%[24] - Cash and cash equivalents as of December 31, 2024, were $298.257 million, down from $389.477 million as of December 31, 2023[26] - Total assets increased slightly to $2.242 billion as of December 31, 2024, from $2.230 billion in 2023[26] - Total shareholders' equity rose to $1.932 billion in 2024, compared to $1.883 billion in 2023, an increase of 2.6%[26] Research and Development - R&D expenses for Q4 2024 were $82.2 million, down from $95.1 million in Q4 2023, primarily due to reduced external research and manufacturing costs[16] - Research and development expenses for Q4 2024 were $82.155 million, compared to $95.144 million in Q4 2023, a decrease of 13.6%[24] - Clinical trials for next-generation CAR T product candidates CTX112 and CTX131 are ongoing, with updates expected in mid-2025[1] - CTX310 is in an ongoing Phase 1 clinical trial targeting ANGPTL3, with updates expected in the first half of 2025[10] - CTX320 is also in a Phase 1 clinical trial targeting LPA, with updates anticipated in the first half of 2025[10] - Updates on lead in vivo cardiovascular programs are anticipated in the first half of 2025[2] Product Development and Partnerships - More than 50 authorized treatment centers (ATCs) have been activated globally for CASGEVY, with over 50 patients having undergone cell collection by the end of 2024[3] - CRISPR Therapeutics has formed a strategic partnership with Nkure Therapeutics to co-develop and co-commercialize CTX112 in India[1] - The company has received approval for CASGEVY® (exa-cel) in several countries to treat sickle cell disease and transfusion-dependent beta thalassemia, marking a significant milestone[21] - CRISPR Therapeutics is focusing on expanding its gene editing programs and has formed strategic partnerships with leading companies, including Vertex Pharmaceuticals[21] - The company anticipates potential expansion into new indications and aims to enhance its manufacturing capabilities for ongoing and planned clinical trials[21] Future Outlook - The company expects significant growth in new patient initiations for cell collection throughout 2025[3]