Vertex, CRISPR's Sickle Disease Drug Gets FDA's Fast Track Tag
Zacks Investment Research | Jan 06, 2019 10:03PM ET
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and partner CRISPR Therapeutics AG (NASDAQ:CRSP) announced that the FDA has assigned Fast Track designation to their gene editing candidate, CTX001, for the treatment of sickle cell disease (SCD), a severe hereditary form of anaemia.
The fast track status from the FDA is designed to provide certain benefits for new drugs that treat serious or life-threatening conditions and demonstrate potential to address the unmet medical needs. With this designation, the drug is expected to be granted a priority review once it files a new drug application (NDA).
Shares of Vertex and CRISPR Therapeutics were each up 5.5% and 8% on Friday in response to the news. In fact, in the past year, the CRISPR Therapeutics stock has rallied 16.1% while Vertex has increased 10.1% versus the Zacks Investment Research
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