Core Insights - CRISPR Therapeutics' first marketed product, Casgevy, is a one-shot gene therapy approved for sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT) in late 2023 and early 2024 [1] - Initial commercial uptake of Casgevy has been modest, with Vertex Pharmaceuticals reporting only $10 million in product revenues for full-year 2024 [2] - The eligible patient population for Casgevy is estimated to be around 60,000, and Vertex is increasing its commercial efforts to support broader access [3] Product Overview - Casgevy is the first approved CRISPR/Cas9 gene-edited therapy, developed in partnership with Vertex Pharmaceuticals, which leads its global development and commercialization [1] - The therapy involves a complex, multi-step process including stem cell collection, ex vivo gene editing, and reinfusion, contributing to its slow adoption [2][7] Competitive Landscape - Casgevy currently faces competition from other gene-editing treatments, such as Beam Therapeutics' BEAM-101 for SCD, which has shown promising results in clinical trials [4] - Additionally, Casgevy competes with established therapies like Bristol Myers' Reblozyl and Novartis' Adakveo, which are available at significantly lower prices compared to Casgevy's $2.2 million [5] Financial Performance - CRISPR Therapeutics' shares have outperformed the industry year to date, indicating positive market sentiment [6] - The company's shares are trading at a price-to-book (P/B) ratio of 2.10, below the industry average of 3.04 and its five-year mean of 2.39, suggesting a valuation discount [8] Earnings Estimates - Estimates for CRISPR's loss per share for 2025 have widened from $5.06 to $5.54, and for 2026, from $3.76 to $4.30 over the past 60 days [10]