Start here if you're new
what it is
It makes gene-editing medicines and tries to turn CRISPR/Cas9 into approved treatments for genetic disease.
how it gets paid
Last year Crispr Therap made $4M in revenue.
why growth slowed
Revenue fell 90.6% last year. Revenue rose 198% vs. prior year, but the company still posted a wide loss per share.
what just happened
$3M in quarterly revenue looks better than the loss, but EPS was still -$5.12.
At a glance
n/a balance sheet
5/100 earnings predictability — expect surprises
15.7% return on capital — nothing to write home about
-$4.34 fy2024 eps est
$37M fy2024 rev est
xvary composite: 89/100 — above average
What they do
It makes gene-editing medicines and tries to turn CRISPR/Cas9 into approved treatments for genetic disease.
CRISPR/Cas9 → a gene-editing tool → so what: it can cut DNA with precision. CRSP got the first CRISPR-based therapy approved in 2023. That gives you proof, but the revenue line is still tiny.
How they make money
$4M
annual revenue · revenue declined -90.6% last year
total revenue
$4M
90.6%
The products that matter
approved gene-editing therapy
CASGEVY
$0.9M · 22.5% of revenue
this is the first approved product, but $0.9M of revenue on a $5B market cap tells you commercialization is still in the opening scene.
first revenue proof
partner-funded research economics
Collaboration revenue
$3.1M · 77.5% of revenue
this line is still most of the business, even after dropping 92%. That's the quiet part: partners still matter more than customers.
shrinking fast
pre-revenue pipeline value
In vivo pipeline
2026 readouts matter
candidates like CTX310 are pre-revenue today. The reason you care is simple: for a company with roughly $4M of annual revenue, 2026 data carries more valuation weight than the income statement.
future thesis
Key numbers
$4M
annual revenue
That is tiny next to a $5B market cap. You are paying for future success, not current sales.
$4.34
FY2024 EPS
The company lost $4.34 per share in 2024. Revenue is not covering the bill yet.
15.7%
ROC
Return on capital is positive, which says the business is getting some value from what it spends.
1.45
beta
The stock swings more than the market. You are buying a ride, not a bond.
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 1 — safer than 95% of stocks
- price stability 10 / 100
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CRSP right now.
source: institutional data · return history unavailable
What just happened
missed estimates
$3M in quarterly revenue looks better than the loss, but EPS was still -$5.12.
Revenue rose 198% vs. prior year, but the company still posted a wide loss per share. That is the whole story in one quarter.
$3M
revenue
-$5.12
eps
198%
revenue vs. last year
quarterly revenue
The $3M quarter mattered because it was up 198% from a year ago, even though the company stayed deep in the red.
source: company earnings report, 2026
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What could go wrong
the #1 risk is CASGEVY failing to scale fast enough to replace disappearing collaboration revenue.
med
The launch is still tiny
Product revenue is just $0.9M. For a company valued at about $5B, that means the commercial proof point still barely exists.
If product revenue stays in the low millions while collaboration revenue keeps falling, the stock remains a promise priced like a business.
med
2026 data can move the whole story
Candidates like CTX310 are pre-revenue, but they carry outsized valuation weight because current annual revenue is only about $4M.
Bad data would hit sentiment long before it shows up in reported sales. That's how binary biotech works.
med
The $600M converts buy time, not certainty
The March 2026 notes offering improves runway. It also adds future dilution risk if the equity story needs more financing or the notes convert.
$600M is 150x current product revenue. The balance sheet got help because the business still needs help.
med
Most current revenue is still partner revenue
Collaboration revenue is $3.1M, or 77.5% of the total, and it fell 92%. That is the opposite of a stable operating base.
When your main revenue line is shrinking this fast, the next quarter can look worse even if the long-term science is intact.
A business with roughly $4M of revenue is carrying a $5B valuation, so setbacks hit the story before they hit the income statement.
source: institutional data · regulatory filings · risk analysis
Pay attention to
commercial
whether $0.9M of product revenue becomes a real line item
CASGEVY exists. The open question is scale. If product revenue is still rounding error in upcoming updates, the market will keep valuing CRSP on pipeline hope alone.
calendar
next earnings report
Estimated for Tuesday, May 5, 2026. You want the mix shift: more product revenue, less dependence on collaboration revenue.
clinical
2026 in vivo pipeline readouts
Readouts for candidates like CTX310 matter more than most operating metrics because future value still sits mainly in the pipeline.
financing
how the $600M converts change the risk profile
The notes due 2031 buy time. They do not remove the need for execution, and they make dilution part of the conversation from here.
Analyst rankings
earnings predictability
5 / 100
in human-speak, analysts do not expect smooth quarterly numbers here. Revenue is too small and too dependent on milestones.
financial risk rank
1
this points to lower distress risk, not calmer trading. A stock can be funded and still be violently volatile.
source: institutional data
Institutional activity
institutional ownership data for CRSP is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$58
current price
n/a
target midpoint · n/a from current
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