In August, the National Institutes of Health’s (or NIH) recombinant DNA advisory committee completed the NIH protocol for Editas Medicine’s (EDIT) EDIT-101. EDIT-101 is an investigational CRISPR genome editing therapy for the treatment of individuals with LCA10 (Leber Congenital Amaurosis type 10). Editas Medicine plans to submit an IND (Investigational New Drug) application to the FDA in October.
In August, Editas Medicine also announced that Allergan (AGN) exercised an option to develop and commercialize EDIT-101 worldwide for the treatment of individuals with LCA10. Editas Medicine and Allergan also agreed on Editas Medicine’s co-development and equal share of profits and losses for the sales of EDIT-101 in the US market.
According to the terms of the agreement, Allergan made an upfront payment of $15.0 million. Editas Medicine can also receive a milestone payment of $25.0 million when Allergan’s IND application is accepted by the FDA.
On September 7, Editas Medicine (EDIT) stock closed at $30.25, which is ~49.0% below its 52-week high of $45.02 on March 2. Editas Medicine hit its 52-week low of $19.06 on September 27, 2017.
On September 7, Editas Medicine’s stock price closed at $30.25, which is an ~8.0% decline from its close of $32.83 on August 31.
Of the nine analysts tracking Editas Medicine in September, five recommended a “buy.” Three analysts recommended a “hold,” and one analyst recommended a “strong sell.”
On September 9, Editas Medicine had a consensus 12-month target price of $45.20, which represents an ~49.42% return on investment over the next 12 months.
On September 9, Bluebird Bio and Cellectis had consensus 12-month target prices of $211.00 and $46.78, respectively. These respective target prices represent ~39.23% and ~78.75% returns on investment over the next 12 months.
Between August 31 and September 7, US crude oil October futures fell 2.9% and closed at $67.75 per barrel on September 7.
Tilray (TLRY) reported its quarterly earnings after the market closed. The company reported a total quarterly sales of $15.5, which increased nearly 203.8% year-over-year.
Earlier today, US tech giant Apple (AAPL) launched new versions of its iPad Air and iPad Mini. The company is set to hold a special event on March 25.
Facebook has stated that over 700 million of its users play games, watch gaming videos, and engage in gaming groups on its platform.
On March 18, President Trump tweeted, “GDP growth during the four quarters of 2018 was the fastest since 2005.” Let’s look at the data.
Today, Steel Dynamics released its first-quarter earnings guidance. It expects its first-quarter EPS to be between $0.88 and $0.92.
Amazon (AMZN) recently teamed up with the Yankees and other investors to purchase the YES Network.