- Barclays says that CRISPR Therapeutics AG’s (NASDAQ: CRSP) Q2 FY22 earnings release was largely incremental, highlighting the progress of multiple clinical programs, including the goal of on-track regulatory submissions for CTX001 in SCD/BT by YE22 and CTA submission for VCTX211 (next generation) for Type 1 Diabetes (T1D) in 2H22.
- Though investors are focused on BLA submission for CTX001, the analyst expects a high probability of approval even with some delay.
- But Barclays has moved to the sidelines, given some questions on the durability of the allogeneic CAR-T programs and the lack of other major data catalysts in the next 12 months.
- CRSP is downgraded to Equal Weight with a price target of $88.
- RBC Capital notes that though SCD/BT filing remains on track for YE-22 in the EU, the Q2 release no longer cites US filing by YE-22, suggesting timing advantage vs. bluebird bio Inc (NASDAQ:BLUE) (still guiding 1Q23 filing) may have narrowed.
- Overall, RBC struggles with the commercial case for SCD and read Pfizer Inc’s (NYSE:PFE) buyout of Global Blood Therapeutics Inc (NASDAQ:GBT) as indirect evidence that gene therapy/editing is unlikely to disrupt the market in the foreseeable future materially.
- RBC has lowered the price target from $85 to $78, reiterating the Sector Perform rating.
- Price Action: CRSP shares are down 6.32% at $76.25 during the market session on the last check Tuesday.
Reported Late Thursday March 23, Portman Ridge Finance Corporation Resumes $10M Share Repurchases Under A New 10b5-1 Stock Trading Plan Effective March 22, 2023, Until March 31, 2024
Portman Ridge Finance Corporation (NASDAQ:PTMN) (the "Company") today announced that it has entered into a new Rule 10b5-1 stock trading plan to facilitate the repurchase of its common stock in accordance with
