CRISPR Therapeutics to Report Q3 Earnings: Is a Beat in Store?

Core Viewpoint - CRISPR Therapeutics is expected to exceed expectations in its upcoming third-quarter 2024 results, despite a previous earnings miss of 8.76% in the last quarter [1][8]. Group 1: Upcoming Results - The Zacks Consensus Estimate for CRISPR's sales is $6.4 million, while the earnings estimate indicates a loss of $1.33 per share [1]. - The company's revenue is currently bolstered by grants and collaboration revenues from its partnership with Vertex Pharmaceuticals [2]. Group 2: Product Developments - CRISPR's gene therapy, Casgevy, has been approved for sickle cell disease and transfusion-dependent beta-thalassemia in the U.S. and Europe, with sales expected to start in the third quarter [3][4]. - The estimated share of gene therapy sales for CRISPR is projected at $5 million [4]. Group 3: Pipeline and Clinical Studies - CRISPR is developing next-generation CAR-T therapies, specifically CTX112 and CTX131, which are currently in phase I/II studies [5]. - New clinical studies have been initiated for CTX131 in hematological malignancies and CTX112 in systemic lupus erythematosus, with plans to explore additional autoimmune indications [6]. - The company is also studying in-vivo candidates CTX310 and CTX320 in separate phase I clinical studies [7]. Group 4: Earnings Performance - CRISPR has beaten earnings estimates in three of the last four quarters, with an average surprise of 101.83% [8]. - The company currently holds a Zacks Rank of 2 (Buy) and has an Earnings ESP of +100.00%, indicating a strong potential for an earnings beat [10][11].