With a massive catalyst on December 8, CRISPR Therapeutics (CRSP) could push even higher.
Just weeks after a US FDA advisory panel said CRISPR’s treatment for sickle cell anemia is safe and effective, we’re now waiting on the company’s U.S. FDA PDUFA (Prescriptions Drug User Fee Act) date of Dec. 8. That’s the US FDA deadline to act on approval.
While the CRSP stock already ran from about $37.50 to $72 in anticipation, it could push even higher heading into the catalyst date. Then, we could see a potential sell the news reaction. Then, once the dust settles, investors may want to jump back in again.
That’s because, according to Seeking Alpha, “The companies believe the addressable patient pool for exa-cel treatment will number ~20,000. If we multiply that by $2m, the mooted list price, we have a market opportunity of $40bn, and if we multiply that by 40%, CRISPR Therapeutics’ share of revenues, we get to $16bn.”