EDIT Stock Falls on Decision to End Reni-Cel Studies, Cut Workforce

Shares of Editas Medicine (EDIT) plunged 23.8% on Dec. 13 after it announced a strategic decision to end the development of its lead gene editing therapy, reni-cel, following the failure of an extensive search to yield a commercial partner. The company is already facing a massive cash crunch and without a partner, it is unable to sustain the development cost of reni-cel. The candidate was evaluated in a phase I/II/III RUBY study and a phase I/II EdiTHAL study for severe sickle cell disease (SCD) and transfu ...