CRISPR Therapeutics AG reported a net loss of $581.6 million for the year ended December 31, 2025, compared to a net loss of $366.3 million for the previous year. The company's total revenue decreased significantly to $3.5 million in 2025 from $37.3 million in 2024, primarily due to a substantial decrease in collaboration revenue from Vertex, which was $35.0 million in 2024. This decrease in revenue was partially offset by an increase in grant revenue, which rose to $3.5 million in 2025 from $2.3 million in 2024. The company's operating expenses increased to $668.1 million in 2025 from $503.9 million in 2024, driven by a $96.3 million expense related to acquired in-process research and development and a $92.8 million increase in collaboration expenses, net.
The increase in operating expenses was further influenced by a shift in the cost-sharing arrangement with Vertex for CASGEVY. In 2024, CRISPR Therapeutics exercised its option to defer specified costs under the CASGEVY program, which was not applicable in 2025, leading to a higher share of operating expenses. Research and development expenses decreased to $284.8 million in 2025 from $310.2 million in 2024, primarily due to decreased employee-related expenses and facility expenses, partially offset by increased sublicense and license fees. Other income, net, decreased to $86.6 million in 2025 from $103.9 million in 2024, mainly due to lower interest income earned on cash, cash equivalents, and marketable securities.
Operationally, CRISPR Therapeutics continued to advance its pipeline, with key developments in its hemoglobinopathies, in vivo liver editing, siRNA-based programs, CAR T, and regenerative medicine franchises. CASGEVY, the company's lead program developed in collaboration with Vertex, received regulatory approvals in multiple regions for treating severe sickle cell disease and transfusion-dependent beta thalassemia. The company also progressed its in vivo liver editing programs, including CTX310, which is currently in a Phase 1b clinical trial, and advanced preclinical studies for CTX340, CTX321, and CTX460. The company's CAR T program saw continued advancement of zugocabtagene geleucel in clinical trials for autoimmune diseases and hematologic malignancies.
CRISPR Therapeutics' financial position remains strong, with cash, cash equivalents, and marketable securities totaling $1.98 billion as of December 31, 2025, compared to $1.90 billion as of December 31, 2024. The company expects these resources to fund its operating plan for at least the next 24 months. During 2025, the company issued and sold common shares under its at-the-market offerings, generating net proceeds of $397.3 million. The company also entered into a share issuance agreement with Sirius Therapeutics, issuing 1,842,105 common shares as partial consideration for a collaboration agreement.
Looking ahead, CRISPR Therapeutics plans to continue investing in its research and development programs, including advancing its clinical trials, expanding its manufacturing capabilities, and exploring new technologies. The company anticipates that its expenses will increase as it progresses its pipeline and prepares for potential commercialization activities. CRISPR Therapeutics' future success depends on its ability to obtain regulatory approvals for its product candidates, achieve market acceptance, and effectively compete in the rapidly evolving biotechnology industry.
About CRISPR Therapeutics AG
CRISPR Therapeutics AG is a Swiss biotech company specializing in developing gene editing medicines using CRISPR/Cas9 technology. Its core focus includes therapies for genetic blood disorders like sickle cell disease and beta thalassemia, as well as oncology, autoimmune diseases, and cardiovascular conditions. The company leverages ex vivo and in vivo gene editing approaches, partnering with industry leaders to create potentially curative, transformative treatments.
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