Editas Medicine (EDIT) Stock Rose 85% Since Release Of Positive Results Of Its New Research

The biotechnology company Editas Medicine Inc. (EDIT) stock rose more than 85% since its announcement of new data on the successful EDIT-301 gene therapy trial on December 7.


5 Stocks to make up the PERFECT 2021 gold portfolio

Gold bugs are shouting from the rooftops in excitement, but that doesn’t mean you rush out and just buy any gold stock…That’s why we laid out The 2021 Ultimate Gold Portfolio – to dissect the treasure from the trash.

Click here to download your free report right away

Sponsored


The company focused on progress in preclinical trials of EDIT-301 at the annual meeting of the American Society of Hematology (ASH), which was held on Saturday, 5 December 2020. High levels of red blood cell editing obtained from patients with and without sickle cell anemia were achieved in particular. As a result of this it is necessary to achieve a significant degree of correction in cells with anemia, resulting in a stable induction of foetal hemoglobin. This could mean treating the disease in the future if the EDIT-301 production is successfully completed and approved as a treatment.

Most notably, Editas argues that its manufacturing method, sufficient for clinical scaling, has proven its efficiency. This is a promising indication for long-term investors, as gene therapy, which is appropriate for many patients and not only as an expensive personalized medicine, has the greatest commercial potential.

In the development of therapies for the treatment of sickle cell anemia, Editas is currently lagging behind its rivals, but plans to potentially deliver a cheaper, more reliable and safer therapy. As a result the company is able to gain a large market share for the treatment of this disease, as well as the funds required to conduct further research.

At the moment, Editas does not have an approved product in its portfolio. Therefore the growth of its pipeline remains a key priority. Still, compared to the 5.9 percent growth of the sector, the stock has increased 116 percent in the year so far.

Editas Medicine Inc. (EDIT) stock was down -1.45% to $63.99 on Wednesday but was up 26.51 percent over the week, raising its market capitalization to $4.31 billion.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Peggy Goldman
Peggy Goldman, CFA, is an independent monetary author and speculator. I have worked for both sell-side and purchase side firms (values and fixed salary), with the biggest level of my working time spent in drug tech. Now I am presently viably in a “working retirement”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Velodyne Lidar Inc. (VLDR): Continues Bringing Light To Investors Everywhere

The laser radar manufacturer, Velodyne Lidar (VLDR), announced that it had received a multi-year contract. Sales of the company are expected to grow significantly...

Private Investors Pumped GameStop (GME) Stock Up

Shares of GameStop Corp (GME) video games grew by 144.8 percent, to $159.18, backed by mid-session trade. In contrast, the company's shares were worth...

Related Articles

Velodyne Lidar Inc. (VLDR): Continues Bringing Light To Investors Everywhere

The laser radar manufacturer, Velodyne Lidar (VLDR), announced that it had received a multi-year contract. Sales of the company are expected to grow significantly...

Private Investors Pumped GameStop (GME) Stock Up

Shares of GameStop Corp (GME) video games grew by 144.8 percent, to $159.18, backed by mid-session trade. In contrast, the company's shares were worth...

DDOG Stock: Datadog Inc (DDOG) Is Still Worth a Bite

Since the start of the year, Datadog Inc. (NASDAQ: DDOG) shares have soared by 150%. Many citations confirm the company's position as one of...

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.