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CAMBRIDGE, Mass., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (Nasdaq: EDIT), a clinical-stage gene editing company, today announced the sale of certain future license fees and other payments owed to Editas Medicine under its Cas9 license agreement with Vertex Pharmaceuticals to a wholly-owned subsidiary of DRI Healthcare Trust (DRI) for an upfront cash payment of $57 million.
Editas' (EDIT) portfolio currently lacks an approved product. The focus of third-quarter earnings call was on its pipeline development. Editas (EDIT) Beats on Q3 Earnings, Amends Celgene Deal
Editas Medicine was originally founded with the name "Gengine, Inc." in September 2013 by Feng Zhang of the Broad Institute, Jennifer Doudna of the University of California, Berkeley, [7] and George Church, David Liu, and J. Keith Joung of Harvard University, with funding from Third Rock Ventures, Polaris Partners and Flagship Ventures; the name was changed to the current "Editas Medicine" two ...
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Vertex Pharmaceuticals Incorporated is an American biopharmaceutical company based in Boston, Massachusetts. It was one of the first biotech firms to use an explicit strategy of rational drug design rather than combinatorial chemistry .
Subsequently, CRISPR Therapeutics and Vertex expanded their collaboration to include diseases like Duchenne muscular dystrophy and type 1 diabetes. [ 9 ] [ 10 ] In 2016, the company signed an agreement with Bayer AG to operate Casebia Therapeutics as a joint venture with Bayer under the management of CRISPR Therapeutics. [ 11 ]
Editas (EDIT) delivered earnings and revenue surprises of 9.59% and -6.38%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?