Editas Medicine Inc Stock Price, News & Analysis

Editas Medicine (Nasdaq: EDIT) announced the grant of stock options to its new President and CEO, Dr. Gilmore O’Neill, as part of his inducement to join the company. Effective June 1, 2022, Dr. O’Neill received an option to purchase 950,209 shares at $11.54 per share, the closing price on the grant date. The options vest over four years, with the first 25% vesting after one year. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to strengthen leadership as Editas continues to advance its genome editing technologies.

Editas Medicine, Inc. (Nasdaq: EDIT) presented data on its innovative SLEEK gene editing technology at the ASGCT Annual Meeting. SLEEK achieves over 90% knock-in efficiency for multiple transgenes in cell types like T cells and NK cells, enhancing tumor clearance in ovarian cancer models. This advancement supports the development of EDIT-202, an iPSC-derived NK cell therapy. Editas also shared findings on its EDIT-101 program for retinal degeneration and will present on EDIT-103, showcasing nearly 100% gene editing success in primate studies.

Editas Medicine announced that the FDA granted Orphan Drug Designation to EDIT-301 for treating beta thalassemia. This investigational gene editing medicine is pivotal in addressing the urgent need for treatment options for patients suffering from this severe disease. The company is on track to dose its first patient by year-end 2022 and has also received Rare Pediatric Disease designation for the treatment of both beta thalassemia and sickle cell disease. EDIT-301 aims to provide a one-time, durable treatment benefit and is currently in a clinical study for sickle cell disease.

Editas Medicine announced promising preclinical results for EDIT-103, targeting rhodopsin-associated retinitis pigmentosa (RHO-adRP). In non-human primates, nearly 100% gene editing knockout of the RHO gene was achieved, with over 30% normal protein replacement levels. The data indicates potential for photoreceptor preservation and functionality restoration. The company expects to initiate IND-enabling studies by the end of 2022, advancing towards clinical application of this mutation-independent CRISPR/Cas9-based therapy.

Editas Medicine appointed Gilmore O’Neill as CEO effective June 1, 2022, with James C. Mullen as Executive Chairman. The company reported a significant milestone with the first pediatric patient dosed in the Phase 1/2 BRILLIANCE trial for EDIT-101, aimed at LCA10, and anticipates initial SCD data by year-end for EDIT-301. Preclinical data showed enhanced persistence and anti-tumor activity for EDIT-202. Financially, Editas held $566.4 million in cash and marketable securities as of March 31, 2022, with a net loss of $50.5 million for Q1 2022.

Editas Medicine (Nasdaq: EDIT) announced the acceptance of four abstracts, including three oral presentations, at the 25th Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT) from May 16-19, 2022. Key presentations feature preclinical data on EDIT-202, safety results from the BRILLIANCE trial of EDIT-101, and findings on EDIT-103 for treating retinal diseases. The company aims to share significant updates on its innovative gene editing technologies, reinforcing its commitment to developing transformative therapies for serious conditions.

Editas Medicine, a prominent genome editing company, will host a conference call and webcast on May 4, 2022, at 8:00 a.m. ET to discuss its first-quarter 2022 results and provide a corporate update. U.S. participants can dial 877-407-0989, while international callers should use 201-389-0921, approximately five minutes before the call. A live webcast and replay will be available on the Editas Medicine website. The company specializes in developing CRISPR-based genomic medicines aimed at treating serious diseases globally.

Editas Medicine, Inc. (Nasdaq: EDIT) received Rare Pediatric Disease designation from the FDA for EDIT-301, a gene-edited treatment for beta thalassemia, complementing its previous designation for sickle cell disease. This designation underscores the urgent need for new therapies for severe conditions affecting children. The company plans to initiate a Phase 1/2 study for EDIT-301 in 2022, potentially benefiting patients requiring lifelong transfusions. If approved, Editas could obtain a Priority Review Voucher, enhancing its future product review processes.

Editas Medicine, Inc. (Nasdaq: EDIT) appointed Dr. Gilmore O’Neill as President and CEO, effective June 1, 2022. James C. Mullen will transition to Executive Chairman. Dr. O’Neill brings nearly 20 years of experience in genetic medicine and has successfully led various clinical programs, including marketing approvals for multiple medicines. He previously served at Sarepta Therapeutics and Biogen. Mullen expressed confidence in O’Neill's leadership to drive growth and advance clinical trials, ultimately aiming to deliver transformative genomic medicines to patients.