Benzinga | Oct 13, 2021 01:38PM EDT

Why CRISPR Therapeutics Stock Is Tumbling Today

CRISPR Therapeutics AG (NASDAQ:CRSP) is trading lower Wednesday after the company reported results from its Phase 1 CARBON trial of CTX110 in relapsed or refractory CD19+ B-cell malignancies.

"We are excited to share positive data from our CARBON trial, which show that CTX110 could offer patients with large B-cell lymphomas an immediately available 'off-the-shelf' therapy with efficacy similar to autologous CAR-T and a differentiated safety profile," said Samarth Kulkarni, CEO of CRISPR Therapeutics.

Kulkarni continued, "Furthermore, we have the potential to improve upon already observed efficacy with a consolidation dosing strategy. Based on these encouraging results, we are planning to expand CARBON into a potentially registrational trial in the first quarter of 2022."

CRISPR Therapeutics is a gene-editing company that is engaged in the development of CRISPR and Cas9-based therapeutics.

CRSP Price Action: CRISPR Therapeutics has traded as high as $220.20 and as low as $84.38 over a 52-week period.

The stock was down 8.62% at $93.75 at time of publication.