19.4 C
New York
Tuesday, May 30, 2023

Editas Medicine Inc. (EDIT) Stock Plummets Despite Promising Initial Data from Ongoing BRILLIANCE trial

Editas Medicine Inc. (EDIT) stock prices were down by 20.13% some time after market trading commenced on September 29th 2021. This brought the price per share down to USD$41.89 early on in the trading day.

EDIT Stock’s BRILLIANCE Trial

September 29th 2021 saw EDIT stock announce positive initial clinical data from its ongoing, open label Phase 1/2 BRILLIANCE clinical trial of EDIT-101. The company’s proprietary EDIT-101 treatment is under development for the treatment of blindness resulting from Leber congenital amaurosis 10 (LCA10), a CEP290-related retinal degenerative disorder. The data includes preliminary patient safety and efficacy assessments related to potential clinical benefits. The results are being presented in an oral presentation at the XIX International Symposium on Retinal Degeneration (RD2021).


Top 5 EV Tech Stocks to Buy for 2023

According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.

Click Here to Download the FREE Report.

Sponsored


Scope of Treatment

The preliminary results support the company’s belief that the EDIT-101 treatment has the potential to provide substantial benefits to patients dealing with CEP-290 related retinal degeneration or LCA10. EDIT stock has managed to establish a positive safety profile that has been observed through up to 15 months. Any adverse events reported were mostly mild and were primarily related to the procedure of retinal injection. This safety profile has facilitate the start of enrollment and treatment of subjects in both the high-dose adult cohort and the mid-dose pediatric cohort.

EDIT Stock’s Trial Details

Earlier observations of individuals treated in the mode-dose cohort garnered clinical evidence that gene editing had occurred. This was demonstrated by visual improvements and measured by full-field light sensitivity threshold testing. Visual improvements were also measured by best corrected visual acuity, or improvement in patients’ ability to navigate standardized navigation courses with varying levels of difficulty. The company will continue to observe the trial participants prospectively and record clinical measures. This will facilitate being able to determine the extent of both continued and durable improvements.

Building on Success

The initial results are highly encouraging, indicating the tolerance of the investigational gene editing treatment by the trial’s participants. EDIT stock hopes to help improve the sight of people with mutations in the CEP-190 gene. The ability edit genes inside the human body has a vast scope, allowing for LCA patients to exercise new treatment options.

Future Outlook for EDIT Stock

The company reported a strong quarter, further consolidated by the positive initial clinical data from the ongoing BRILLIANCE trial. EDIT stock is keen to accelerate the development and commercialization of its proprietary treatment. Current and potential investors are hopeful that management will be able to effectively leverage the resources at its disposal. This is hoped to usher in consistent and organic growth over the long term.

Latest news

Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here