CRISPR Therapeutics AG
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −2.98%.
Did CRSP Beat Earnings? Q4 2025 Results
CRISPR Therapeutics delivered a sharply disappointing fourth quarter, missing on both top and bottom lines as revenue collapsed and losses widened well beyond expectations. The company posted an EPS loss of $1.37, falling short of the $1.17 consensus estimate by 17.09%, while revenue came in at just $864,000 against a $3.48 million forecast, a 75.14% miss and a staggering 97.5% decline from the year-ago period. The primary culprit was the absence of CASGEVY collaboration revenue, which had contributed $35.00 million in Q4 2024, combined with a surge in collaboration expenses to $53.70 million from $10.42 million, reflecting the lapse of a cost deferral mechanism under the Vertex agreement. The quarter's weak headline numbers masked genuine commercial progress, however; CASGEVY generated $116.00 million in full-year revenue with patient initiations nearly tripling year-over-year. Looking ahead, pediatric regulatory submissions for ages 5 to 11 are expected in H1 2026, and analysts remain divided on whether pipeline momentum can ultimately justify the company's sustained and deepening losses.
- CASGEVY generated $54 million in Q4 and $116 million for full year 2025 with continued growth in treated patients
- Patient initiations and first cell collections increased nearly three-fold in 2025 compared to 2024
- 64 patients received CASGEVY infusions during 2025 including 30 in Q4
- Approximately 90% of U.S. patients have reimbursed access to CASGEVY
- Cash position strengthened to $1,975.8 million from $1,903.8 million year-over-year
“As we close out the fourth quarter, CRISPR Therapeutics continues to make steady progress across a broad and increasingly mature pipeline. We made meaningful advances across multiple clinical and preclinical programs, including encouraging data from zugo-cel in autoimmune disease and oncology, continued global uptake of CASGEVY, and important developments across our in vivo liver editing portfolio, and momentum in our siRNA collaboration with Sirius Therapeutics. At the same time, we continue to strengthen our platform capabilities to support long-term value creation. Together, these developments reflect continued execution across the portfolio.”
CRISPR Therapeutics CEO, on the earnings call
Forward Guidance & Outlook
CRISPR Therapeutics expects continued momentum with CASGEVY, with patient initiations and cell collections increasing nearly three-fold in 2025 versus 2024 and continued momentum into 2026. Global regulatory submissions for CASGEVY in pediatric patients ages 5-11 are expected to begin in H1 2026, with an FDA Commissioner's National Priority Voucher supporting expedited review. The company expects to initiate clinical trials for CTX340 (refractory hypertension) in H1 2026 and CTX460 (alpha-1 antitrypsin deficiency) in mid-2026. Updates are expected in H2 2026 for CTX310 (severe hypertriglyceridemia), CTX611 (Factor XI siRNA Phase 2), and zugo-cel across autoimmune and oncology indications. An Lp(a) program update for CTX321 is also expected in 2026.
CRSP YoY Financials
CRSP Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.