Crispr Therapeutics (CRSP) is seeing continued growth in the use of its gene-editing treatment Casgevy, while several closely watched clinical updates remain on track for later this year, RBC Capital Markets said Tuesday in a report.
Casgevy generated $99 million in Q3 revenue, up from $76 million in the previous quarter, the report said. More than 750 patients have started treatment worldwide, and the number of patients beginning therapy during the first nine months of 2026 was double the total for all of 2025, RBC said.
Casgevy is approved for sickle cell disease and transfusion-dependent beta thalassemia, inherited blood disorders that can cause anemia, organ damage and other serious complications.
RBC said several pipeline updates are expected in H2, including data from a treatment designed to reduce blood-clotting risks in patients undergoing knee-replacement surgery, as well as updates from Crispr's cholesterol-targeting and cancer-treatment programs.
Crispr's efforts to expand beyond gene editing could help diversify its pipeline and reduce some of the risks associated with relying on a single technology platform, the report said.
RBC said it remains cautious on parts of the company's pipeline. Casgevy has not yet become profitable, and results from Crispr's experimental allogeneic CAR-T cancer therapies have produced mixed results so far, the report said.
Casgevy's commercial potential may be limited because patients must undergo intensive chemotherapy before receiving the one-time treatment, a requirement that could restrict broader adoption, the report said.
RBC has a rating of sector perform, speculative risk, on Crispr stock with a $50 price target.
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