#3 - Editas Medicine (NASDAQ:EDIT)
Another company that is involved in gene editing is Editas Medicine (NASDAQ:EDIT). In fact, Editas uses Crispr Technologies gene-editing technique. Like Crispr, however, the company does not yet have a product on the market.
EDIT stock has gone up 120% in the trailing twelve months as of this writing. A stock like this doesn’t see this kind of price action without any news. In the case of Editas, the company has two treatment candidates (EDIT-101 and EDIT-301) that have gone through early-stage clinical trials. EDIT-101 is for the treatment of a rare eye disorder that is the leading cause of infant blindness and EDIT-301 is for the treatment of sickle cell disease.
The stock recently dipped 30% when the company announced it was issuing a share offering. This is not unusual. You may recall that many small-cap biotech stocks initiated share offerings last year as they were developing Covid-19 treatments. Science like this takes money. And Editas hopes to raise gross proceeds of $231 million.
About Editas Medicine
Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.
More- Current Price
- $1.31
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $7.00 (436.4% Upside)
