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Meme stocks are having a moment, but the broader market is rallying as well. While GameStop's 74% rally got a lot of attention Monday ( "meme stocks are back!" ), the evidence indicates that a broad rally is dragging up a lot of stuff that hasn't been performing well this year. The S & P 600 Small Cap advance/decline is also near the highest levels since December, while the S & P Mid Cap 400 advance/decline line is at a new high. So when you hear the tired old refrain, "meme stocks are back," take a look at the rest of the market.
Persons: hasn't, Marko Kolanovic, Morgan, BoE, Ryan Detrick Organizations: Fed, ECB, Intel, Nike, Comcast, ChargePoint Holdings, CRISPR Therapeutics, Unity Software, Carson Group, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrispr Therapeutics CEO: Science in gene editing is moving at breakneck speedSamarth Kulkarni, Crispr Therapeutics CEO, joins 'Power Lunch' to discuss the hurdles to getting rare disease drugs through regulation, what consumers can look forward to in gene editing, and much more.
Persons: Samarth Kulkarni Organizations: Crispr, Crispr Therapeutics
Cramer's Lightning Round: 'Hard pass' on Surgery Partners
  + stars: | 2024-01-30 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Surgery Partners's year-to-date stock performance. Stock Chart Icon Stock chart icon Energy Transfer's year-to-date stock performance. Stock Chart Icon Stock chart icon DigitalOcean's year-to-date stock performance. Stock Chart Icon Stock chart icon Vodafone's year-to-date stock performance. Stock Chart Icon Stock chart icon MP Materials' year-to-date stock performance.
Persons: it's, they're, I'm Organizations: Surgery Partners, Energy, Vodafone, Verizon, Therapeutics, CRISPR Therapeutics
Acute pain is usually caused by injury, surgery, illness, trauma or painful medical procedures and is likely to ease with time. Around 80 million patients are prescribed a medicine for their moderate-to-severe acute pain every year in the U.S., Vertex said in a release. Last year, the company's painkiller produced positive results in a mid-stage trial in diabetes patients suffering from a chronic nerve condition. Those two procedures are commonly used in studies of people with acute pain. Jefferies analyst Michael Yee said the drug's failure to meet that goal is in line with expectations and that overall, the late-stage trial results released Tuesday are positive.
Persons: Reshma Kewalramani, painkiller, Michael Yee Organizations: Vertex Pharmaceuticals, Food and Drug, Wall Street, CRISPR Therapeutics, Jefferies Locations: Boston, U.S
The headquarters of US biopharmaceutical company Vertex Pharmaceuticals in Boston, Massachusets, on November 4, 2023. The U.S. health regulator has approved Vertex Pharmaceuticals and CRISPR Therapeutics' gene therapy to treat a rare blood disorder requiring regular blood transfusions, in patients 12 years and older, Vertex said on Tuesday. The decision earns the therapy, branded as Casgevy, the second U.S. approval after it was greenlighted in December for sickle cell disease, another inherited blood disorder. The approval by the Food and Drug Administration comes more than two months ahead of its expected action date of March 30. Oppenheimer analyst Hartaj Singh said he expects a "slow and steady launch" for the therapy and estimated combined peak sales of about $400 million.
Persons: Oppenheimer, Hartaj Singh Organizations: Vertex Pharmaceuticals, Pharmaceuticals, CRISPR Therapeutics, Food and Drug Administration Locations: US, Boston, Massachusets, U.S, United States
Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange on Feb. 27, 2023. Wood's flagship Ark Innovation ETF (ARKK) has rallied 32% this month, on pace to score its strongest month ever since its inception in 2014. The fund rebounded dramatically from three straight months of losses, pushing 2023 gains to 48%. Cathie Wood is about to notch her best month ever as her holdings of innovative technology stocks roared back from steep losses amid declining Treasury yields in November. Driving the innovation fund higher this month have been biotech names CRISPR Therapeutics and Twist Bioscience , along with Roku , Coinbase , Block and Shopify , which are all up at least 50%.
Persons: Cathie Wood, ARKK, Wood Organizations: Ark Invest, CNBC, New York Stock Exchange, Innovation, CRISPR Therapeutics, Twist, Ark, CNBC PRO Locations: outflows
LONDON (AP) — Britain's medicines regulator has authorized the world's first gene therapy treatment for sickle cell disease, in a move that could offer relief to thousands of people with the crippling disease in the U.K. The agency approved the treatment for patients with sickle cell disease and thalassemia who are 12 years old and over. Casgevy is currently being reviewed by the U.S. Food and Drug Administration; the agency is expected to make a decision early next month, before considering another sickle cell gene therapy. Millions of people around the world, including about 100,000 in the U.S., have sickle cell disease. Scientists believe being a carrier of the sickle cell trait helps protect against severe malaria.
Persons: , Helen O'Neill Organizations: Medicines and Healthcare Regulatory Agency, Vertex Pharmaceuticals, CRISPR Therapeutics, Helen O'Neill of University College London, Medicines, U.S . Food, Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Europe, CRISPR, South Asian, Britain, U.S, Africa, India, Eastern
Regulators in Britain on Thursday approved the first treatment derived from CRISPR, the revolutionary gene-editing method. Called Casgevy, the treatment is intended to cure sickle-cell disease and a related condition, beta thalassemia. The companies anticipate that the Food and Drug Administration will approve Casgevy for sickle-cell patients in the United States in early December. The agency will decide on approval for beta thalassemia next year. That treatment does not rely on gene editing, insteading using a method that inserts new DNA into the genome.
Organizations: Vertex Pharmaceuticals, CRISPR Therapeutics, and Drug, Bluebird Bio Locations: Britain, Boston, Switzerland, United States, Somerville, Mass
[1/2] A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston, Massachusetts, U.S., October 23, 2019. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsOct 31 (Reuters) - A panel of advisers to the U.S. health regulator said on Tuesday Vertex Pharmaceuticals (VRTX.O) and CRISPR Therapeutics (CRSP.BN) could assess potential safety risks of their sickle cell disease gene therapy after approval. If the therapy is approved, Vertex has proposed a 15-year follow up of patients to evaluate the safety outcomes of the therapy. Patients who were treated with the therapy were free from severe vaso-occlusive crisis for 12 months from the infusion of exa-cel. "It was made pretty clear that any theoretical off-target editing concerns do not outweigh the benefits of drug approval," said Salim Syed, analyst at Mizuho.
Persons: Brian Snyder, Scot Wolfe, Salim Syed, Sriparna Roy, Krishna Chandra Organizations: Vertex Pharmaceuticals, REUTERS, CRISPR Therapeutics, Staff, U.S . Food, Drug Administration, UMass Chan Medical, Analysts, FDA, Mizuho, Thomson Locations: Boston , Massachusetts, U.S, Bengaluru
And though comprehensive sickle cell care — at dedicated centers with expert hematologists, social workers and pain management specialists — reduces hospitalizations, and is the standard for diseases like cystic fibrosis and hemophilia, which do not disproportionately affect Black people, these centers are few and far between for sickle cell. Into this complicated landscape enters the possibility of gene therapy. It’s important to note that this isn’t the first cure for sickle cell. is expected to review another gene therapy from the company Bluebird Bio that targets sickle cell disease but does not use CRISPR; this was the therapy Mr. Holmes received as part of the N.I.H. When she was 17 and hospitalized, facing the reality of her chronic illness, she told her mother that she was ready to pursue gene therapy.
Persons: Holmes, Elizabeth Ford, Ford Organizations: Vertex Pharmaceuticals, CRISPR Therapeutics, Bluebird
An estimated 100,000 people in the United States have sickle cell disease, most of whom have African ancestry. will decide on another application for sickle cell gene therapy made by Bluebird Bio. Two other companies and an academic center, Boston Children’s Hospital, are testing their own sickle cell gene therapies. While these therapies could reduce the suffering of sickle cell patients in the United States and other wealthy countries, there is an even greater need for them in some developing countries like Nigeria. One company, Beam, is testing a way to provide gene editing that requires nothing more than a single infusion in a doctor’s office.
Persons: , Mariah Jacqueline Scott, Scott, , Stephan Grupp, What’s Organizations: Institute for Clinical, CRISPR Therapeutics, Children’s Hospital of Philadelphia, Bluebird, Boston Children’s Hospital Locations: United States, Highland Park, N.J, Boston, Nigeria
(Reuters) - U.S. law firm Paul Hastings said Thursday that it has hired two partners from rival Goodwin Procter as practice leaders in New York and Washington, D.C.Seo Salimi is departing Goodwin after more than eight years to co-lead Paul Hastings' equity capital markets and corporate life sciences practices in New York. His clients have included Karuna Therapeutics, CRISPR Therapeutics, Goldman Sachs and J.P. Morgan Securities, according to his former profile on Goodwin's website. Salimi is joining Paul Hastings along with Sean Donahue, who will chair the firm's public company advisory practice group and co-chair its shareholder activism and takeover defense group. The Los Angeles-founded firm has hired at least 24 partners globally since January. Read more:Law firm Goodwin taps new Silicon Valley-based chairPaul Hastings team takes Latin America-focused deal practice to Baker McKenzieOur Standards: The Thomson Reuters Trust Principles.
Persons: Paul Hastings, Goodwin Procter, Seo Salimi, Goodwin, Salimi, Goldman Sachs, J.P, Sean Donahue, Donahue, Dana Syracuse, Perkins Coie, Kenneth Deutsch, Latham & Watkins, Baker McKenzie Organizations: Reuters, . Securities, Exchange Commission, Karuna Therapeutics, CRISPR Therapeutics, Morgan Securities, Washington , D.C, of Corporation Finance, Latham &, Latin, Thomson Locations: New York, Washington, Washington ,, SEC's, Los Angeles, Boston, Latin America
As biopharma investors follow the latest buzz around advancements in clinical research, they may be under-appreciating opportunities in neurology, psychiatry and genetic medicine, according to a report from Oppenheimer. "Valuation multiples across disease areas show CNS [ or central nervous system] and Genetic Medicine at relative low points." In July, the Food and Drug Administration could grant full approval to Leqembi , its Alzheimer's Disease treatment. As a very new area of medicine, gene therapy has greatest potential to accelerate sales growth as treatments come to market. He described immunology multiples as "generally stable" and genetic medicine multiples as highly volatile.
Final Trades: Berkshire, Devon Energy & CRISPR Therapeutics
  + stars: | 2023-05-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Berkshire, Devon Energy & CRISPR TherapeuticsThe "Halftime Report" traders give their top picks to watch for the second half.
Cathie Wood just scored her best month ever as her innovation stocks staged a big comeback, and some of her darlings still have double-digit upside ahead, according to Wall Street analysts. Wood's flagship Ark Innovation ETF (ARKK) jumped 27.8% in January alone, notching its strongest month since its inception in 2014 . We looked at companies with at least five analysts covering them, and these names below all have more than 10% upside in the next 12 months, according to FactSet. Wall Street analysts are most bullish on Ginkgo Bioworks , seeing the stock rally more than 140% in the next 12 months. Other biotech names in the space that analysts love are Verve Therapeutics , CRISPR Therapeutics , Beam Therapeutics and Twist Bioscience.
Loading chart...Qualtrics International Inc : "I really like XM as a long-term growth play. ... Let these guys do their work and then it's a buy." Loading chart...Clearfield Inc : "There's an analyst that cut numbers and the stock fell apart. That was ridiculous." Loading chart...CRISPR Therapeutics AG : "That's one of those crazy science stocks that in this market will work perfectly."
The biotech halted the trial while it investigates the case, which may impact other CRISPR companies. The small biotech company Graphite Bio said Thursday afternoon that it paused a study testing an experimental gene-editing therapy after the first treated patient suffered a serious side effect. The safety scare raises more questions than answers as Graphite's scientists investigate what exactly may have caused the side effect. Lehrer said it's too early to say whether this safety scare could have implications for the broader gene-editing field. Its next-closest product, a gene-editing therapy for beta-thalassemia, isn't expected to start initial human testing until 2024 at the earliest.
Ark Invest's Cathie Wood believes innovators in DNA development are the most undervalued corner of the market. "I believe that today the genomic revolution is most misunderstood and underappreciated," Wood said at Morgan Stanley's AlphaCurrents Conference last week, according to a transcript provided by the bank. "The stocks in the last year, this growth stock bear market, has ravaged the genomic space. Ark Invest has a specific exchange-traded fund dedicated to this space: ARK Genomic Revolution ETF (ARKG) . However, the fund has wiped out half of its value this year as rising rates hit growth stocks particularly hard.
CRISPR companies are faring better by producing faster and more dramatic clinical results. A layoff tracker from Fierce Biotech counts at least 90 drug companies that have laid off staff in 2022. Gene-editing biotechs have avoided the brunt of the downturn because of fast clinical successIntellia Therapeutics is developing CRISPR-based gene-editing medicines that could cure diseases. Just in the past month, CRISPR Therapeutics moved into a swanky new headquarters in Boston that can house up to 1,000 people. BeamTo be sure, 2022 hasn't been smooth sailing for the CRISPR companies.
A mosaic of human cells inside Vertex Pharmaceuticals' cell and gene-therapy laboratory. The four-story, 267,000-square-foot space is home to Vertex's cell and gene-therapy unit, with about 375 people now residing in the modern-industrial building. That has led to going after unrelated diseases like sickle cell, diabetes, muscular dystrophy, kidney disease, and pain. For instance, Vertex's approach to sickle cell is led by its CRISPR gene-editing program. Vertex PharmaceuticalsThe next test of Vertex's strategy will be an experimental treatment called exa-cel, its CRISPR gene-editing program for sickle cell.
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