Why did CRSP's Q4 2024 earnings surprise analysts?

CRISPR Therapeutics' Q4 2024 earnings surprised analysts for several reasons: 1. **Strong Revenue Performance**: CRISPR Therapeutics reported a total revenue of $35.7 million for Q4 2024, which exceeded analysts' expectations. The revenue surprise was attributed to the inclusion of grant revenues and collaboration revenues from its partnership with Vertex Pharmaceuticals. 2. **Casgevy Launch**: The launch of Casgevy, the first CRISPR-based therapy, contributed significantly to the revenue. Although Vertex leads the global development and commercialization of Casgevy, CRISPR Therapeutics earned a 40% share of the net profits from this collaboration. The activation of over 45 authorized treatment centers globally for Casgevy indicated the growing demand and market acceptance of the therapy. 3. **Financial Position**: CRISPR Therapeutics maintained a strong financial position with a robust balance sheet, reporting approximately $1.9 billion in cash, cash equivalents, and marketable securities as of September 30, 2024. This financial strength supports the company's ongoing research and development initiatives, providing a stable foundation for its growth and innovation in gene-based medicines. In conclusion, CRISPR Therapeutics' Q4 2024 earnings exceeded analysts' expectations due to strong revenue from the launch of Casgevy and effective collaboration with Vertex Pharmaceuticals, along with a solid financial position that supports continued innovation and growth in the gene editing technology sector.