CRISPR Therapeutics’ Revenue Breakdown (2016-2023)

Collaboration revenue pertains to the earnings derived from cooperative business activities. It allows organizations to access resources, acquire new customers, leverage technologies, reduce costs, and share best practices. By collaborating with other entities, organizations can combine their strengths, expand into new markets, and enhance their competitive advantage. Collaboration revenue fosters mutually beneficial agreements and bolsters growth potential through the sharing of resources and expertise.

In the fiscal year ending on December 31, 2022, collaboration revenue amounted to $0.4 million, a significant decline compared to the previous year’s figure of $913.1 million (for the fiscal year ending December 31, 2021). The high collaboration revenue recorded in 2021 was primarily attributed to two key factors. Firstly, the company received a substantial upfront payment of $900.0 million from Vertex as part of the A&R Vertex JDCA (Joint Development and Commercialization Agreement). Secondly, an additional $12.5 million milestone payment was achieved under the 2019 Collaboration Agreement with Vertex, with $12.0 million of that amount recognized as revenue in 2021.

Up to the present time, the company has not generated any revenue from product sales, and they do not anticipate doing so in the foreseeable future. The revenue amounts of $0.4 million, $913.1 million, and $0.5 million for the years ending December 31, 2022, 2021, and 2020, respectively, were all associated with their collaboration agreements with Vertex.

If the company decides to engage third parties for sales, marketing, and distribution services, their product revenue and profitability from these revenue streams are expected to be lower compared to if they were to independently market and sell their own product candidates. For instance, under their A&R Vertex JDCA agreement, Vertex holds exclusive rights for the commercialization activities of exa-cel worldwide. Net profits and losses resulting from the A&R Vertex JDCA are divided, with 40% allocated to the company (CRISPR) and 60% to Vertex. 

Grant Revenues

Grant Revenues pertain to the income received by the company through grant agreements, including the proceeds from grant anticipation notes, as well as any income or gains generated from investing those revenues and proceeds. For the fiscal years ending December 31, 2022, and 2021, grant revenue amounted to $0.8 million and $1.9 million, respectively. During the same periods, the company generated $0.8 million, $1.9 million, and $0.2 million of grant revenue from specific contracts with not-for-profit organizations.

About CRISPR Therapeutics 

CRISPR Therapeutics is a Swiss–American biotechnology company headquartered in Zug, Switzerland, established in the year 2013. Its primary focus is on developing innovative gene-based treatments for severe human illnesses. The company pride themselves on being a leading company in the CRISPR/Cas9-based therapeutics field, which is a groundbreaking gene editing technology enabling precise modifications to specific sections of DNA.  CRISPR Therapeutics objective is to utilize this technology to disrupt, remove, correct, and introduce genes, aiming to address genetically defined disorders and advance cellular therapies. By merging their scientific expertise with their gene editing approach, they strive to lead the way in developing highly potent and potentially curative therapies, benefitting patients affected by both common and rare diseases, where conventional biopharmaceutical methods have proven to be less effective.