Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process
Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.
“The moment we publish our paper, the investment in this space will flow,” Vinay Prasad, who leads the FDA’s Center for Biologics Evaluation and Research, told Bloomberg. “It will turn the spigot on.”
The news pushed up gene-editing stocks, including Intellia, Beam Therapeutics Inc, Crispr Therapeutics, Editas Medicine, and Prime Medicine. The news comes after Intellia disclosed on Monday that it’s pausing two late-stage CRISPR gene-editing trials because one patient was hospitalized with liver damage, which had sent the sector’s stocks sliding.
“The moment we publish our paper, the investment in this space will flow,” Vinay Prasad, who leads the FDA’s Center for Biologics Evaluation and Research, told Bloomberg. “It will turn the spigot on.”
The news pushed up gene-editing stocks, including Intellia, Beam Therapeutics Inc, Crispr Therapeutics, Editas Medicine, and Prime Medicine. The news comes after Intellia disclosed on Monday that it’s pausing two late-stage CRISPR gene-editing trials because one patient was hospitalized with liver damage, which had sent the sector’s stocks sliding.
