CRISPR Therapeutics vs. Intellia: Which Gene Editing Stock Holds More Potential?

Core Viewpoint - CRISPR Therapeutics (CRSP) and Intellia Therapeutics (NTLA) are leading companies in the CRISPR/Cas9 gene editing space, with CRSP being the first to market a CRISPR-based therapy, while NTLA focuses on late-stage in vivo therapies [1][10]. Group 1: CRISPR Therapeutics (CRSP) - CRSP achieved a significant milestone by securing approval for Casgevy (exa-cel) for treating sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) in late 2023/early 2024, marking the first-ever approval for a CRISPR/Cas9 therapy globally [2][3]. - The commercial uptake of Casgevy has been slow due to the complexity of the treatment process, although VRTX has activated over 65 authorized treatment centers globally, with nearly 90 patients having completed cell collection as of May 1 [4]. - CRSP has multiple other CRISPR candidates in its pipeline, including two CAR-T therapy candidates, CTX112 and CTX131, which are in early-stage studies, with updates expected this year [5]. - Encouraging initial data from an early-stage study on CTX310, an in vivo CRISPR-based gene therapy targeting ANGPTL3 for atherosclerotic heart disease, has raised excitement for CRSP's in vivo programs [6][7]. - Despite the progress, CRSP's pipeline is still in early-stage development, and Casgevy faces competition from chronic therapies like Bristol Myers' Reblozyl and Novartis' Adakveo [8]. Group 2: Intellia Therapeutics (NTLA) - NTLA has shown potential in the biotech space by focusing on in vivo therapies, with two late-stage candidates: lonvo-z for hereditary angioedema (HAE) and nex-z for transthyretin (ATTR) amyloidosis [9][11]. - The pivotal phase III HAELO study for lonvo-z is underway, with enrollment expected to complete by Q3 2025, and regulatory filing planned for the second half of 2026 [12]. - Nex-z is being developed in collaboration with Regeneron Pharmaceuticals and is evaluated in two late-stage studies for ATTR amyloidosis [13]. - NTLA initiated a strategic reorganization to prioritize late-stage candidates, resulting in the cessation of some research programs and a planned workforce reduction of nearly 27% [14]. - A recent setback in the nex-z development due to liver safety concerns has raised questions about the therapy's long-term safety [15]. Group 3: Financial Estimates and Performance - The Zacks Consensus Estimate for CRSP's 2025 sales implies a 7% year-over-year increase, while loss estimates per share are expected to widen by about 28% [16]. - NTLA's 2025 loss per share is expected to improve nearly 20%, with loss estimates for 2025 and 2026 having narrowed over the past 60 days [17]. - Year-to-date, CRSP shares have risen by 19%, while NTLA shares have declined by 18%, compared to a 4% decline in the industry [19]. - CRSP's shares trade at a price/book (P/B) ratio of 2.21, higher than NTLA's 1.27, indicating that CRSP appears more expensive from a valuation standpoint [20]. Group 4: Investment Considerations - Both companies hold a Zacks Rank 3 (Hold), making it challenging to choose one over the other [24]. - CRSP is viewed as a safer investment due to its marketed product and a strong cash balance of $1.9 billion as of March 2025, while NTLA's cash balance was $707 million, raising concerns due to the lack of a stable revenue stream [25]. - Despite setbacks, CRSP's broader pipeline across in vivo and ex vivo therapies offers greater diversification, suggesting potential growth driven by solid fundamentals and positive stock price movement [26].