CRISPR Q3: Net Loss $111.4M, $2.28B Cash, 24-Month Runway Confirmed
CRSP is trading near its 52-week low of $44.12 (13% above the low).
Summary
CRISPR's Q3 10-Q shows a $111.4 million net loss on rising R&D, offset by a $2.28 billion cash pile that management says funds at least 24 months of operations. The March $600 million convertible due 2031 carries a $76.56 conversion price.
Key Events · Earnings and Guidance · CRSP
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Q3 Net Loss Widens to $111.4M
Net loss was $111.4 million ($1.15 per share) versus $106.4 million a year ago. R&D rose to $71.9 million from $58.9 million, partly offset by collaboration expense falling to $41.3 million from $57.1 million on a larger share of CASGEVY revenue.
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Cash Rises to $2.28B, 24-Month Runway
Cash, cash equivalents and marketable securities totaled $2,276.6 million at September 30, 2026, up from $1,975.8 million at December 31, 2025. Management expects this to fund operating expenses and capex for at least the next 24 months without additional licensing or financing proceeds.
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$600M Convertible Adds Senior Claim
The March 2026 notes carry a 1.125% coupon (1.7308% after the Swiss withholding gross-up), mature March 1, 2031, and convert at roughly $76.56 per share — well above today's $49.98, so conversion is remote. Net proceeds were $585.4 million.
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Nine-Month Cash Burn $282.1M
Net cash used in operating activities was $282.1 million for the nine months ended September 30, 2026, versus $252.5 million a year earlier, a $29.6 million increase.
Analysis · CRSP · Life Sciences
The headline numbers already hit the tape via this morning's 8-K, but the 10-Q is where the balance sheet and the burn rate live. CRISPR lost $111.4 million in the quarter ($1.15 per share) as R&D climbed to $71.9 million from $58.9 million, partly offset by collaboration expense falling to $41.3 million from $57.1 million as its share of CASGEVY revenue grew. Against that, cash and marketable securities rose to $2.28 billion from $1.98 billion at year-end, helped by $585.4 million of net proceeds from the March convertible notes. Management explicitly says that pile funds operations for at least the next 24 months without any further licensing or financing proceeds — the single most important line for a clinical-stage biotech, and it removes near-term financing pressure. The offset is the new $600 million convertible: a $76.56 conversion price sits well above today's $49.98, so conversion is remote and the notes behave like cheap 1.73% debt for now, but they add $600 million of senior claims ahead of equity.
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In the 30 days to Nov 3, 2026, 32.3% of the 2077 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CRSP was trading at $49.98 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $44.12 to $65.98. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.