Yahoo Finance Editas (EDIT) Focuses on Developing Gene-Editing Eye Drug
Editas Medicine, Inc. EDIT is making good progress with the development of its lead pipeline candidate, EDIT-101, which employs CRISPR gene editing, to treat Leber congenital amaurosis type 10 (LCA10) — a rare genetic illness that causes blindness.
In April 2022, Editas dosed the first pediatric patient in the phase I/II BRILLIANCE study evaluating EDIT-101 for the treatment of blindness due to LCA10. Currently, there is no therapy approved for treating LCA10.
The company plans to complete dosing in the pediatric mid-dose cohort of the BRILLIANCE study shortly. Dosing in the pediatric high-dose cohort is expected to begin later in 2022.
An update from the BRILLIANCE study is expected in the second half of 2022.
Shares of Editas have plunged 42.8% so far this year compared with the industry’s decline of 19.4%.
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This apart, Editas’ other pipeline candidates are also progressing well.
The company is evaluating the safety and efficacy of its investigational gene-editing medicine, EDIT-301, for treating sickle cell disease (“SCD”). EDIT is currently enrolling participants in the phase I/II RUBY study and expects to begin dosing later in 2022. Top-line data from the same is expected by 2022-end.
In May 2022, the FDA granted Orphan Drug designation to EDIT-301 for the treatment of beta thalassemia, a devastating disease that leads to severe anemia, organ failure and premature death.
Editas plans to begin a phase I/II study to evaluate EDIT-301 for treating transfusion-dependent beta thalassemia (“TDT”) later in 2022.
Editas currently has no approved product in its portfolio. Therefore, the successful development of EDIT-101, along with other pipeline candidates, remains in key focus for the company. Moreover, Editas’ pipeline candidates are in early-stage development and years away from commercialization. Hence, any regulatory setback for the pipeline candidates will be a significant impediment for the company.
Stiff competition also remains a headwind for Editas as several other companies, including CRISPR Therapeutics CRSP and Intellia Therapeutics, among others, are engaged in developing candidates to address different indications using CRISPR/Cas9 gene-editing technology.
CRISPR Therapeutics’ lead candidate, exagamglogene autotemcel (exa-cel, formerly CTX001), a CRISPR gene-edited therapy, is being developed for treating SCD and TDT. CRISPR Therapeutics expects to file regulatory submission for exa-cel in both indications in late 2022.
Editas Medicine, Inc. Price and Consensus
Editas Medicine, Inc. price-consensus-chart | Editas Medicine, Inc. Quote
Zacks Rank & Stocks to Consider
Editas currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the biotech sector are Leap Therapeutics, Inc. LPTX and Precision BioSciences, Inc. DTIL, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Leap Therapeutics’ loss per share has narrowed 11.1% for 2022 and 5.9% for 2023 in the past 60 days.
Earnings of Leap Therapeutics have surpassed estimates in three of the trailing four quarters and missed the same on the other occasion. LPTX delivered an earnings surprise of 1.92%, on average.
Precision BioSciences’ loss per share estimates narrowed 26.2% for 2022 and 42.6% for 2023 in the past 60 days.
Earnings of Precision BioSciences have surpassed estimates in each of the trailing four quarters. DTIL delivered an earnings surprise of 76.15%, on average.
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