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How CRISPR Therapeutics Is Positioned in September

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Revenue trends

CRISPR Therapeutics (CRSP) reported net collaboration revenues of $1.1 million in the second quarter of 2018 compared to $3.6 million in the second quarter of 2017. In the first half of the year, CRISPR Therapeutics reported net collaboration revenues of $2.4 million compared to $6.3 million in the same period the prior year.

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Expense trends

In the second quarter, CRISPR Therapeutics reported R&D (research and development) and G&A (general and administrative) expenses of $24.6 million and $12.7 million, respectively, compared to $17.1 million and $7.8 million in the second quarter of 2017.

In the first half of the year, CRISPR Therapeutics reported R&D and G&A expenses of $45.2 million and $21.6 million, respectively, compared to $31.9 million and $16.4 million in the same period the prior year.

The progress of the hemoglobinopathies program primarily led to the increase in the R&D expenditure in the second quarter of 2018. Legal services and the increase in headcount-associated expenses primarily led to the increase in the G&A expenditure.

Earnings trends

In the second quarter, CRISPR Therapeutics reported net income and EPS (earnings per share) of -$38.4 million and -$0.82, respectively, compared to net income and EPS of -$22.3 million and -$0.56 in the second quarter of 2017.

In the first half of the year, CRISPR Therapeutics reported net income and EPS of -$66.7 million and -$1.44, respectively, compared to -$43.8 million and -$1.10 in the first half of 2017.

At the end of the second quarter, on June 30, CRISPR Therapeutics reported net cash and cash equivalents of $319.7 million compared to $341.8 million at the end of the first quarter, on March 31, 2018. The increase in research and development expenditures primarily led to the decline in cash during the second quarter.

Editas Medicine (EDIT), Intellia Therapeutics (NTLA), and Sangamo Therapeutics (SGMO), CRISPR Therapeutics’ peers in the gene editing therapy market, reported revenues of $7.37 million, $7.68 million, and $21.42 million, respectively, in the second quarter of 2017.

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