CRISPR therapeutics inc, logo 2020

Graphic Source: CRISPR Therapeutics, Inc.

Introduction: What is CRISPR Therapeutics, Inc.?

CRISPR Therapeutics (NASDAQ:CRSP) is a gene-editing company focused on the development and versatile application of CRISPR/Cas9 therapeutics, a special brand of therapeutics used for precision genome editing by applying a viral defense mechanism from bacteria to regulate, disrupt, or correct genes related to key diseases. CRSP is currently targeting disease areas, including hemoglobinopathies, oncology, and regenerative medicines.

Founded in 2013 in Switzerland, CRSP has since grown to over 304 employees producing relatively inconsistent revenues ranging from $3M in 2018 to $290M in 2019 with expectations for 2020 at $6.7M. Their lead candidate is CTX001, an investigational autologous gene-edited hematopoietic stem cell therapy developed in partnership with Vertex Pharmaceuticals (NASDAQ:VRTX) for treating transfusion-dependent beta-thalassemia (“TDT”) and severe sickle cell disease (“SCD”).

Products: CRSP’s pipeline consists of 9 therapeutics: 4 in the clinical phase and 5 in the research phase. Of the 4 clinical phase therapeutics, the first targets TDT and SCD (mentioned above: CTX001), while the 3 others fall into immuno-oncology covering: CD19+ malignancies (Product: CTX110), multiple myeloma (CTX120) and solid tumors and hematologic malignancies (CTX130). All immuno-oncology therapeutics are allogeneic CRISPR/Cas9 gene-edited CAR-T cell therapies wholly owned by CRISPR Therapeutics with data updates typically every 6 months.

Customers/market: For CRSP’s clinical phase pipeline, the total estimated 2022 global market potential is $220B with an average market size for each disease of $36.7B growing at an average 15.2% CAGR (median market: $13.3B | CAGR 10.9%). The largest market is Solid Tumors, at a 2022 estimated size of $145B (8.1% CAGR), and the highest CAGR market CAR T/CD19+ market at a 34.5% CAGR. For CTX001, the lead candidate, the target market can be broken down into the TDT market at very roughly $1.8B with a 10.8% CAGR and the SCD market

(Reuters) – The U.S. Federal Reserve’s new framework for managing monetary policy shows a “tolerance” for higher inflation, but not necessarily a full-blown promise to engineer it, Kansas City Federal Reserve president Esther George said Thursday.

The Fed last month, as part of applying a new strategy to let inflation run higher in hopes of encouraging further job gains in a “hot” economy, said it would not raise rates until inflation has both reached its 2% target and is on track to “moderately exceed 2% for some time.”

“I interpret the revised consensus statement as a tolerance – and less as a promise to engineer,” higher inflation, George said, adding her voice to the disparate views among Fed officials about how the new framework will be applied in practice.

Minutes of that September meeting released on Wednesday showed a broad divergence of views on that front, and George, traditionally among the less tolerant of inflation and the financial risks loose monetary policy might generate, has placed herself in the camp that sees the new framework as less binding rather than more.

The new language in the Fed statement is “a message of patience” that the central bank will not react too fast to preempt inflation as it develops, George said. Indeed many analysts feel the Fed’s target interest rate will remain near zero for years to come.

However “it is not yet clear how much patience will be required,” George said, given that the pandemic may raise inflation more quickly than expected due to supply constraints, and particularly if a vaccine unleashes pent-up consumer demand.

“It will be difficult to assess the underlying pace of inflation until the dust settles,” George sad in webcast remarks to the Kansas Economic Outlook Conference at Wichita State University.

George also said she felt