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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Editas Medicine, Inc.    EDIT


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Editas Medicine Announces U.S. Patent and Trademark Office Grants the Broad Institute Priority Benefit in CRISPR Interference

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09/11/2020 | 08:01am EDT

CAMBRIDGE, Mass., Sept. 11, 2020 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (Nasdaq: EDIT), a leading

genome editing company, announced today the U.S. Patent and Trademark Office (USPTO) issued a decision in an interference between the University of California, the University of Vienna, Emmanuelle Charpentier (CVC) and the Broad Institute, Inc. (Broad) regarding certain Broad CRISPR/Cas9 patents Editas Medicine exclusively licenses. The USPTO granted Broad’s motion for priority benefit while denying CVC priority benefit to its two earliest provisional patent applications. As a result, Broad will enter the priority phase of the interference as “Senior Party” while CVC remains the “Junior Party” for purposes of determining which entity was the first to invent the inventions at issue.

“We are pleased with the U.S. Patent and Trademark Office’s decision, granting Broad’s motion for priority benefit. We look forward to the proceedings, and we remain confident in our foundational patent portfolio that we in-license from the Broad Institute. While these proceedings are ongoing and will take time, we believe the outcome will ultimately be positive for the Broad Institute and their innovative and fundamental work on CRISPR/Cas9 gene editing,” said Cynthia Collins, President and Chief Executive Officer, Editas Medicine.

The Broad patents continue to be valid and in force. Foundational claims covering the use of CRISPR/Cas9 for gene editing in eukaryotic cells have also issued to Broad as patents in each of the United States, Australia, Europe, Japan, China and other jurisdictions.


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Editas Medicine
As a leading genome editing company, Editas Medicine is focused on translating the power and potential of the CRISPR/Cas9 and CRISPR/Cpf1 (also known as Cas12a) genome editing systems into a robust pipeline of treatments for people living with serious diseases around the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases. For the latest information and scientific presentations, please visit www.editasmedicine.com

Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ ‘‘would,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements.  Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: uncertainties inherent with litigation, including patent interference proceedings; uncertainties inherent in the initiation and completion of pre-clinical studies and clinical trials and clinical development of the Company’s product candidates; availability and timing of results from pre-clinical studies and clinical trials; whether interim results from a clinical trial will be predictive of the final results of the trial or the results of future trials; expectations for regulatory approvals to conduct trials or to market products and availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements.  These and other risks are described in greater detail under the caption “Risk Factors” included in the Company’s most recent Quarterly Report on Form 10-Q, which is on file with the Securities and Exchange Commission, and in other filings that the Company may make with the Securities and Exchange Commission in the future.  Any forward-looking statements contained in this press release represent the Company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, the Company explicitly disclaims any obligation to update any forward-looking statements.

Cristi Barnett
(617) 401-0113 

Mark Mullikin
(617) 401-9083

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© GlobeNewswire 2020

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Financials (USD)
Sales 2020 27,6 M - -
Net income 2020 -147 M - -
Net cash 2020 449 M - -
P/E ratio 2020 -12,6x
Yield 2020 -
Capitalization 2 023 M 2 023 M -
EV / Sales 2020 57,1x
EV / Sales 2021 68,3x
Nbr of Employees 208
Free-Float 98,4%
Duration : Period :
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Technical analysis trends EDITAS MEDICINE, INC.
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 41,75 $
Last Close Price 32,76 $
Spread / Highest target 98,4%
Spread / Average Target 27,4%
Spread / Lowest Target -14,5%
EPS Revisions
Cynthia L. Collins President, Chief Executive Officer & Director
James C. Mullen Chairman
Harry R. Gill Senior Vice President-Operations
Michelle Robertson Treasurer, Chief Financial & Accounting Officer
Charles Albright Chief Scientific Officer & Executive VP
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