Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

CRISPR Therapeutics AG / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/crispr-therapeutics-ag" target="_blank" data-smartkarma-citation="entities:23652:1" rel="noopener">CRISPR Therapeutics AG (CRSP US)</a> completed regulatory submissions for exa-cel in the U.S., EU, and UK, positioning exa-cel to potentially become the first approved CRISPR-based therapy in the world.</li>
<li>According to Evaluate Pharma, if approved, exa-cel’s revenue is expected to be $1B+ in 2028, with expected market share of 20% in sickle cell and 36% in beta thalassemia.</li>
<li>As of March 31, 2023, CRISPR has cash, cash equivalents, and marketable securities of $1,889.5M, which is sufficient to fund its operating expenses for ~3 years.</li>
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CRISPR Therapeutics AG (CRSP US) completed regulatory submissions for exa-cel in the U.S., EU, and UK, positioning exa-cel to potentially become the first approved CRISPR-based therapy in the world.
According to Evaluate Pharma, if approved, exa-cel’s revenue is expected to be $1B+ in 2028, with expected market share of 20% in sickle cell and 36% in beta thalassemia.
As of March 31, 2023, CRISPR has cash, cash equivalents, and marketable securities of $1,889.5M, which is sufficient to fund its operating expenses for ~3 years.


CRISPR Therapeutics AG (CRSP US): First Genome Editing Based Drug Candidate Seeking FDA Approval

Vertex Pharmaceuticals / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US)</a>, the global leader in cystic fibrosis treatment, has a broad and deep clinical pipeline across multiple modalities. Each of its clinical programs represents a multibillion-dollar opportunity.  </li>
<li>MRNA drug candidate for treating the remaining 5,000 CF patients who cannot benefit from existing therapies, is set to enter clinic. Drug candidate for acute pain is in late-stage trial.</li>
<li>Regulatory submission for exa-cel for sickle cell disease and transfusion-dependent beta thalassemia in U.S., EU and UK are expected to be completed by 1Q23.</li>
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Vertex Pharmaceuticals (VRTX US), the global leader in cystic fibrosis treatment, has a broad and deep clinical pipeline across multiple modalities. Each of its clinical programs represents a multibillion-dollar opportunity.  
MRNA drug candidate for treating the remaining 5,000 CF patients who cannot benefit from existing therapies, is set to enter clinic. Drug candidate for acute pain is in late-stage trial.
Regulatory submission for exa-cel for sickle cell disease and transfusion-dependent beta thalassemia in U.S., EU and UK are expected to be completed by 1Q23.


Vertex Pharmaceuticals (VRTX US): A High-Quality Deep Pocket Biotech Must-Have for Every Investor

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<a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US)</a> reported strong Q2 results, with both revenue and adjusted EPS surpassing consensus. Flagship drug, Trikafta reported 51% y/y revenue growth and contributed 86% of revenue.</li>
<li>Vertex estimates more than 25K CF patients that are addressable with its Trikafta are still untreated, thereby providing sustainable growth opportunities. No immediate competition is seen.</li>
<li>The company lifted 2022 product revenue guidance by 2% at the mid-point to $8.6–8.8 billion. R&amp;D costs are also expected to remain elevated as multiple ongoing clinical trials.</li>
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Vertex Pharmaceuticals (VRTX US) reported strong Q2 results, with both revenue and adjusted EPS surpassing consensus. Flagship drug, Trikafta reported 51% y/y revenue growth and contributed 86% of revenue.
Vertex estimates more than 25K CF patients that are addressable with its Trikafta are still untreated, thereby providing sustainable growth opportunities. No immediate competition is seen.
The company lifted 2022 product revenue guidance by 2% at the mid-point to $8.6–8.8 billion. R&amp;D costs are also expected to remain elevated as multiple ongoing clinical trials.


Vertex Pharmaceuticals (VRTX US): Beat-And-Raise Q2 Results Driven by Strong Uptake of Trikafta

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Capital Markets

Sana Biotechnology Inc / Equity Capital Markets

A preclinical biotech company <a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a>  publicly filed for IPO in January. Sana develops in vivo and ex vivo engineering platforms that can repair and control genes in cells or replace any cell in the body. Technologies are being developed in collaboration with leading academic laboratories and industry partners. Combining science and technology, disruptor and innovative biotech unicorn invests in transformative in vivo and ex vivo engineered cell therapies leveraging proprietary gene editing capabilities. Morgan Stanley, Goldman Sachs, J.P. Morgan and BofA Securities are lead underwriters on the upcoming IPO.<a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a>  was backed by venture capital firms ARCH Venture Partners, Flagship Pioneering, F-Prime Capital, GV, Bezos Expeditions and other institutional investors. <a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a> raised ~$706M in funding over 2 rounds, according to S-1 company filings and Crunchbase.

A preclinical biotech company Sana Biotechnology Inc (SANA US)  publicly filed for IPO in January. Sana develops in vivo and ex vivo engineering platforms that can repair and control genes in cells or replace any cell in the body. Technologies are being developed in collaboration with leading academic laboratories and industry partners. Combining science and technology, disruptor and innovative biotech unicorn invests in transformative in vivo and ex vivo engineered cell therapies leveraging proprietary gene editing capabilities. Morgan Stanley, Goldman Sachs, J.P. Morgan and BofA Securities are lead underwriters on the upcoming IPO.Sana Biotechnology Inc (SANA US)  was backed by venture capital firms ARCH Venture Partners, Flagship Pioneering, F-Prime Capital, GV, Bezos Expeditions and other institutional investors. Sana Biotechnology Inc (SANA US) raised ~$706M in funding over 2 rounds, according to S-1 company filings and Crunchbase.

Sana Biotechnology IPO. Moving The Genomic Revolution Forward

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.

U.S. Equity Strategy: Round Trip Back To Resistance

United States

CRISPR Therapeutics AG is a bio-technology company. The Company researches, develops, and manufactures biological transformative gene-based medicines and other related products. CRISPR Therapeutics operates in Switzerland.

CRISPR Therapeutics AG (CRSP US)