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# CRISPR Therapeutics' $12.7 Million Quarter Rests On A Vertex Option That Vertex Passed On
- URL: https://www.bullished.co/crispr-therapeutics-12-7-million-quarter-rests-on-a-vertex-option-that-vertex-passed-on-d639f72b/
- Published: 2026-11-02T22:23:58.000Z
- Updated: 2026-11-02T22:23:58.000Z
- Description: Previously deferred Vertex money drove third-quarter revenue to $12.7 million, while the quarterly net loss widened to $111.4 million.
- Author: Matteo Parrino
- Tags: Earnings, CRSP, Industry: Healthcare

[CRISPR Therapeutics](https://www.bullished.co/tag/crsp/), which develops gene-editing medicines, booked [$12.3 million of previously deferred Vertex money](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526443665/crsp-20260930.htm?ref=bullished.co) as collaboration revenue in the third quarter, after Vertex told the company it will not exercise an option on a specified target, according to its 10-Q filed Monday. Total revenue was $12.7 million, against $889,000 a year earlier, and the net loss still grew to $111.4 million from $106.4 million.

## Deferred cash becomes revenue

The 10-Q says Vertex notified CRISPR during the quarter that it will not exercise an option under an amendment to the 2015 collaboration agreement to co-develop and co-commercialize a specified target. The company then recognized the $12.3 million it had been carrying as deferred revenue.

The [prior quarter's filing](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526330672/crsp-20260630.htm?ref=bullished.co) showed $12.3 million of current deferred revenue. The new filing shows none related to Vertex, and says all performance obligations under the 2015 agreement have been satisfied.

The quarter's operating loss was $130.0 million, slightly narrower than $132.1 million a year earlier. Research and development spending rose to $71.9 million from $58.9 million.

## A Sirius milestone lifts costs

Acquired in-process research and development expense was $11.7 million, against none a year earlier. It consisted mostly of a $12.5 million milestone owed to Sirius Therapeutics, triggered when enrollment finished in the first two Phase II trials of the jointly developed products. The company expects to pay the cash in the fourth quarter.

That leaves up to $75.0 million of potential development milestones to Sirius, down from $87.5 million. Separately, a contingent liability tied to a third-party licensor stands at $18.2 million, and the filing says resolution could bring a charge above that amount.

Net collaboration expense to Vertex fell to $41.3 million from $57.1 million, which the filing attributes to a larger share of CASGEVY revenue. Vertex leads commercialization of CASGEVY, the sickle cell and beta thalassemia therapy it develops with CRISPR.

## Cash runway and nine-month loss

CRISPR held $2,276.6 million in cash, equivalents and marketable securities at September 30, which it says funds operations for at least the next 24 months. The nine-month net loss was $325.5 million, compared with $451.0 million a year earlier.

In March the company issued $600.0 million of convertible senior notes due 2031, and interest on them is the main reason other income fell. The company's [earnings release](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526443644/crsp-ex99%5F1.htm?ref=bullished.co) puts CASGEVY revenue at $99 million for the quarter. Market value was about $5.0 billion after Monday's session.

Phase 1b data for CTX310 in severe hypertriglyceridemia are due at the American Heart Association sessions on November 9.

### Sources

- [10-Q Filing — CRISPR Therapeutics (CRSP)](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526443665/crsp-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — CRISPR Therapeutics (CRSP), Q2 FY2026 filed 2026-08-03 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526330672/crsp-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, crsp-ex99\_1.htm) — CRISPR Therapeutics, filed 2026-11-02](https://www.sec.gov/Archives/edgar/data/0001674416/000119312526443644/crsp-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [CRISPR Therapeutics AG (CRSP) Expected to Beat Earnings Estimates: What to Know Ahead of Q3 Release](https://finance.yahoo.com/healthcare/articles/crispr-therapeutics-ag-crsp-expected-140005997.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [CRISPR Therapeutics GAAP EPS of -$1.15 misses by $0.15, revenue of $12.67M misses by $3.89M (CRSP:NASDAQ)](https://seekingalpha.com/news/4662879-crispr-therapeutics-gaap-eps-of-1%5F15-misses-by-0%5F15-revenue-of-12%5F67m-misses-by-3%5F89m?ref=bullished.co) — seekingalpha.com
- [CRISPR Therapeutics names CTO](https://seekingalpha.com/news/4662189-crispr-therapeutics-names-cto?ref=bullished.co) — seekingalpha.com
- [Here's Why CRISPR Therapeutics AG (CRSP) Fell More Than Broader Market](https://finance.yahoo.com/markets/stocks/articles/heres-why-crispr-therapeutics-ag-205001325.html?ref=bullished.co) — Yahoo Finance
- [CRISPR Therapeutics AG (CRSP) Seasonal returns chart - Yahoo Finance](https://uk.finance.yahoo.com/quote/CRSP/seasonality/?ref=bullished.co) — Yahoo Finance

### More on CRISPR Therapeutics

- [Casgevy Sales Hit $99 Million, Nearly Six Times Last Year, As CRISPR's Loss Widens To $111.4 Million](https://www.bullished.co/casgevy-sales-hit-99-million-nearly-six-times-last-year-as-crisprs-loss-widens-to-111-4-fec54452/)
- [CRISPR Therapeutics Names Finance Insider Andrew Silver CFO As Raju Prasad Resigns](https://www.bullished.co/crispr-therapeutics-names-finance-insider-andrew-silver-cfo-as-raju-prasad-resigns-6f1ed437/)

[All CRISPR Therapeutics (CRSP) coverage →](https://www.bullished.co/tag/crsp/)