Editas Medicine, Inc. EDIT announced that it has started enrollment in the first of two planned pediatric cohorts in the phase I/II BRILLIANCE study evaluating EDIT-101 for the treatment of Leber congenital amaurosis type 10 (LCA10), a rare genetic illness that causes blindness.

The company started enrollment in the above-mentioned study following the Independent Data Monitoring Committee’s (“IDMC”) endorsement to proceed with the first pediatric cohort.

The IDMC endorsement was based on a review of clinical safety data from adult low-dose and adult mid-dose cohorts of the BRILLIANCE study, which is investigating EDIT-101 for treating LCA10. Dosing has been completed in the adult mid-dose cohort of the study.

Editas will now run the pediatric mid-dose cohort and the adult high-dose cohort concurrently, with first dosing expected this summer and dosing completion anticipated in the first half of 2022. Initial data from the same is expected in September of the ongoing year.

Shares of Editas were up 3.9% on Wednesday following the announcement of the aforementioned news. However, the stock has plunged 46.1% so far this year compared with the industry’s decrease of 1.1%.
 

Zacks Investment ResearchImage Source: Zacks Investment Research

We note that Editas has made rapid progress in the development of its lead pipeline candidate, EDIT-101, which employs CRISPR gene editing to treat LCA10. The disease has a significant unmet need as no therapy has been approved yet.

Notably, in August 2020, Editas terminated its 2017 agreement with Allergan [now part of AbbVie ABBV] and regained the full global rights to develop, manufacture and commercialize its ocular medicines, including EDIT-101.

If successfully developed and upon potential approval, EDIT-101 will be a boost for the company’s growth prospects as it will be able to generate revenues.

Editas has no approved product in its portfolio at the moment. Therefore, pipeline development remains a key focus for the company. However, stiff competition is a headwind for Editas, as other companies like Intellia Therapeutics NTLA and CRISPR Therapeutics CRSP are also engaged in developing candidates to address different indications using CRISPR/Cas9 gene-editing technology.

Zacks Rank

Editas currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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