CRSP And BLUE Shareholders Need To Team Up To Take Down The Shorts Instead Of Taking Down Each Other
On Friday, CRISPR Therapeutics AG (CRSP), along with its partner Vertex Pharmaceuticals Incorporated (VRTX) got approval from the FDA for its therapy Casgevy for sickle cell disease. bluebird bio, Inc. (BLUE) also received approval for its therapy Lyfgenia for the same disease. Despite the approvals, CRSP went down 8% while BLUE dropped 40% in "sell on news" type of action and a lot of making mountains out of molehills by shorts on the already well-known negatives surrounding these novel therapies. CRSP has a 40%/60% split with VRTX, so we can infer that Casgevy has a $9 billion valuation based on CRSP's $3.6 billion enterprise value. BLUE has a market cap of just over $300 million while already generating revenue on its pipeline. While Casgevy is being assigned a much higher valuation than Lyfgenia, both of them are undervalued compared to the potential market size of the United States alone. They should be going way up, not down, on an approval and ability to immediate