Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Crispr Therapeutics AG’s stock CRSP, +0.49% rallied 17% in premarket trade Wednesday, after a positive meeting of a . Food and Drug Administration advisory panel on the gene-editing drug exa-cel developed by Crispr and partner Vertex Pharmaceuticals VRTX, +1.30% as a treatment for sickle-cell disease. The FDA has set a Dec. 8 target action date for possible approval of the treatment, which would be the first approved therapy that uses the gene-editing technology called Crispr.
“Rational thinking prevailed at today’s FDA ad com,” wrote analysts at Evercore ISI, in a note. “We think exa-cel is very likely to be approved by December 8.”The analysts described it as a “clearing event” for Vertex and a “nice win for CRSP, their platform, and important medical advancement for the field and for patients.” Sickle-cell disease is a painful inherited blood disorder that affects an estimated 70,000 to 100,000 Americans a year, according to the American Society of Hematology.
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