BioPharma DiveDoubao · 实盘不做把握 7/10不做原因:已被定价
北京时间·🕒 发布 23:46:00(美东 11:46)·⟳ 抓取 23:55:57 +9m57s·⚡ 决策 09-14 23:57:45 +1m48s·43.1 天前
Cellectis 放弃异体 CAR-T、转向临床前体内基因编辑,股价盘中暴跌约41%
事件是确认的重大公司级利空(临床管线整体放弃、商业化道路大幅拉长),但在信号到达时股价已盘中重挫约41%、量比4.4倍、贴近历史低点,利空在同一交易时段内被快速且充分重定价;此刻新开空单是在暴跌后追空微盘低价股(约1.84美元、市值1.85亿),反弹/逼空与波动风险使风险收益比为负,做多则面临临床前资产、靶点拥挤与现金消耗,无正期望。合作方均无可量化受益或受损敞口。
📄 原文BioPharma Dive↗ 原文
Cellectis quits CAR-Ts and pivots to ‘in vivo’ gene editing
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不做 Cellectis(CLLS.US)
确认为重大利空(临床期CAR-T管线清零、转投临床前体内基因编辑),但信号到达时股价已盘中暴跌约41%、量比4.4倍并贴近历史低点,利空在同一时段充分定价;此时追空1.8美元微盘股的反弹/逼空风险与剩余空间高度不对称,做多则面对临床前资产、靶点拥挤与融资压力,双向均无正期望;合作方Allogene/AstraZeneca/Iovance/Servier无 material 传导,不出任何腿
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
Cellectis 放弃全部临床期异体 CAR-T、转投尚无人体数据的体内基因编辑,属战略级利空;但股价盘中已跌约41%充分定价,追空风险收益比差、做多无基本面支撑,合作方无实质传导,故不做。
🔎 新鲜度:最早出现 2026-09-14 · 扩散 medium · price-in 风险 high ↗
关键理由
- 公司最有价值的临床期资产 lasme-cel/eti-cel 被终止并寻求对外处置,新管线 HEAL-101/HEAL-201 尚处临床前且 APOC3/PCSK9 已有上市药物,上市路程与融资风险显著上升
主要风险
- 若 lasme-cel/eti-cel 以可观条款授出或HEAL项目获得大药企合作,超跌股价可能快速反弹,追空将被逼空
- 约1.8美元的微盘低价股盘中波动极大,41%跌幅后继续下行空间与隔夜反弹风险高度不对称
反向证据
- 做空前查反向 · 来源 web · 日期 2026-09-14 · 影响 weakens
公告仅称将为两个CAR-T项目寻求战略合作机会、未给出金额或受让方,新管线无合作或数据催化;但超跌微盘股对任何合作传言都易剧烈反弹,削弱追空的风险收益比
检索:Cellectis lasme-cel eti-cel partnering deal HEAL-101 HEAL-201 collaboration financing 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-09-14 · 影响 invalidates
新方向靶点已有多款上市药物、近期诺华/Ionis同类心血管研究刚失败,新项目未上临床且需持续融资,无正向surprise支撑抄底
检索:Cellectis cash runway restructuring savings in vivo gene editing APOC3 PCSK9 competition 原文 ↗
先例如何影响了这次决策
对本次决策的影响:先例缺失与盘中已充分重定价共同支持不追空、不抄底的AVOID结论
方向:无足够对齐先例:小盘biotech管线整体终止/战略重置通常当日一次性深跌,但个案差异极大,不用于校准幅度
涨幅量级:无高相似、锚干净的同市场先例;本次-41%的盘中反应本身已说明市场对'临床资产清零+转向临床前'的定价量级
形态:小盘biotech暴跌后常见技术性反抽,但无法据此形成有edge的方向判断
工具执行结果 · 成功 2 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 22 ms
{"result": "search_processed_events:agent query=`cellectis apoc3 pcsk9 base editing pipeline abandonment | cellectis exits car-t allogeneic cell therapy pivot in vivo gene editing | cellectis lasme-cel eti-cel strategic restructu`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agen - stock_quote 成功 stock_tools HTTP · 369 ms
{
原文全文
展开原文 · 8,504 字
Cellectis quits CAR-Ts and pivots to ‘in vivo’ gene editing | BioPharma Dive
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An article from
Dive Brief
Cellectis quits CAR-Ts and pivots to ‘in vivo’ gene editing
Long a frontrunner in donor-derived cell therapy research, the French biotech cited a shifting landscape in changing course and choosing to offload its lead programs.
Published Sept. 14, 2026
Jonathan Gardner
Senior Reporter
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Cellectis will focus resources going forward on "in vivo" gene editing medicines for cardiovascular disease, the company said on Sept. 14, 2026.
Getty Images
Dive Brief:
Cellectis is
giving up on donor-derived cell therapies
and shifting its focus to gene editing medicines, stating in a Monday announcement that the “commercial and clinical landscape” for combatting blood cancers with so-called CAR-T treatments has “changed materially.”
The decision dramatically lengthens Cellectis’ road to a marketed medicine, as the company is ending work on treatments that were in clinical development and turning to therapies that haven’t been tested in humans. One CAR-T program it discovered and out-licensed has advanced as far as Phase 2 testing.
Cellectis claimed that its new strategy represents the “most effective use of its financial and operational resources.” Investors expressed disappointment, however, as company shares fell as much as 43% in morning trading and, at around $2 apiece, trade just above all-time lows.
Dive Insight:
Founded around the turn of the century with gene editing technology developed by Institut Pasteur, Cellectis has long been a frontrunner in advancing “allogeneic” therapies built from the cells of donors. It raised $228 million in an
initial public offering
in 2015 and, since then, has worked to prove its treatments could become a simpler alternative to the complicated, personalized CAR-T therapies now available for multiple blood cancers.
Yet like many of its peers, Cellectis has struggled. Individualized, “autologous” cell therapies have set a high bar for winning approvals in malignancies like leukemia, lymphoma and multiple myeloma. Their allogeneic counterparts have had difficulty matching those results, leading many developers in recent years to
shift resources to other areas
, such as autoimmune disease research.
As recently as early August, Cellectis
was touting data
for two clinical-stage cell therapies called lasme-cel and eti-cel in leukemia and lymphoma. But treatment protocols in many blood cancers have changed drastically as new types of medicines — from cell therapies to bispecific antibodies and more — have been approved. Those developments have heightened Cellectis’ competition, reduced the addressable patient populations for each therapy and slowed study enrollment. “We believe these trends are likely to continue and further constrain the commercial opportunity for both product candidates,” the company said in a statement.
Cellectis will seek “strategic partnering opportunities” to maximize the value of lasme-cel and eti-cel. The company will also “realign its organization” and support existing partnerships with Allogene, Servier, AstraZeneca and Iovance Biotherapeutics, the company said.
The new drugs it’ll work on, meanwhile, are prospective cardiovascular disease treatments that are still in preclinical development. One, called HEAL-101, uses base editing technology to target a gene, APOC3, linked to high triglycerides. Another known as HEAL-201 harnesses an epigenetic editing approach to lower levels of the cholesterol-regulating protein PCSK9. Cellectis will face an uphill battle in both cases, as multiple medications aimed at APOC3 and PCSK9 are already available.
Cellectis’ strategic shift comes in the wake of
multiple recent high-profile failures
in
cardiovascular disease studies
. The latest setback happened just over a week ago, when a therapy from
Novartis
and Ionis Pharmaceuticals fell short in a major study that had widely been expected to succeed.
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An article from
Dive Brief
Cellectis quits CAR-Ts and pivots to ‘in vivo’ gene editing
Long a frontrunner in donor-derived cell therapy research, the French biotech cited a shifting landscape in changing course and choosing to offload its lead programs.
Published Sept. 14, 2026
Jonathan Gardner
Senior Reporter
Share
Copy link
X/Twitter
License
Add us on Google
Cellectis will focus resources going forward on "in vivo" gene editing medicines for cardiovascular disease, the company said on Sept. 14, 2026.
Getty Images
Dive Brief:
Cellectis is
giving up on donor-derived cell therapies
and shifting its focus to gene editing medicines, stating in a Monday announcement that the “commercial and clinical landscape” for combatting blood cancers with so-called CAR-T treatments has “changed materially.”
The decision dramatically lengthens Cellectis’ road to a marketed medicine, as the company is ending work on treatments that were in clinical development and turning to therapies that haven’t been tested in humans. One CAR-T program it discovered and out-licensed has advanced as far as Phase 2 testing.
Cellectis claimed that its new strategy represents the “most effective use of its financial and operational resources.” Investors expressed disappointment, however, as company shares fell as much as 43% in morning trading and, at around $2 apiece, trade just above all-time lows.
Dive Insight:
Founded around the turn of the century with gene editing technology developed by Institut Pasteur, Cellectis has long been a frontrunner in advancing “allogeneic” therapies built from the cells of donors. It raised $228 million in an
initial public offering
in 2015 and, since then, has worked to prove its treatments could become a simpler alternative to the complicated, personalized CAR-T therapies now available for multiple blood cancers.
Yet like many of its peers, Cellectis has struggled. Individualized, “autologous” cell therapies have set a high bar for winning approvals in malignancies like leukemia, lymphoma and multiple myeloma. Their allogeneic counterparts have had difficulty matching those results, leading many developers in recent years to
shift resources to other areas
, such as autoimmune disease research.
As recently as early August, Cellectis
was touting data
for two clinical-stage cell therapies called lasme-cel and eti-cel in leukemia and lymphoma. But treatment protocols in many blood cancers have changed drastically as new types of medicines — from cell therapies to bispecific antibodies and more — have been approved. Those developments have heightened Cellectis’ competition, reduced the addressable patient populations for each therapy and slowed study enrollment. “We believe these trends are likely to continue and further constrain the commercial opportunity for both product candidates,” the company said in a statement.
Cellectis will seek “strategic partnering opportunities” to maximize the value of lasme-cel and eti-cel. The company will also “realign its organization” and support existing partnerships with Allogene, Servier, AstraZeneca and Iovance Biotherapeutics, the company said.
The new drugs it’ll work on, meanwhile, are prospective cardiovascular disease treatments that are still in preclinical development. One, called HEAL-101, uses base editing technology to target a gene, APOC3, linked to high triglycerides. Another known as HEAL-201 harnesses an epigenetic editing approach to lower levels of the cholesterol-regulating protein PCSK9. Cellectis will face an uphill battle in both cases, as multiple medications aimed at APOC3 and PCSK9 are already available.
Cellectis’ strategic shift comes in the wake of
multiple recent high-profile failures
in
cardiovascular disease studies
. The latest setback happened just over a week ago, when a therapy from
Novartis
and Ionis Pharmaceuticals fell short in a major study that had widely been expected to succeed.
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Share
Copy link
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Editors' picks
Kevin Frayer via Getty Images
China competition
Drugs from China are reshaping biotech. Track the licensing deals here.
Including a new deal with Roche last week, Simcere Pharmaceutical has now inked five cross-border licensing pacts since the start of 2025 that are collectively worth up to $5.66 billion.
By Ben Fidler •
Updated Sept. 2, 2026
Permission granted by Daiichi Sankyo
ASCO25
Daiichi Sankyo struck gold with ‘ADC’ cancer drugs. Its new CEO has to figure out what’s next.
Enhertu, Datroway and other antibody-drug conjugates developed by Daiichi Sankyo have made the company a leader in a competitive field. Hiroyuki Okuzawa is working to keep it that way.
By Ned Pagliarulo •
June 4, 2025
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Post a press release
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From BeOne Medicines
September 09, 2026
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Including a new deal with Roche last week, Simcere Pharmaceutical has now inked five cross-border licensing pacts since the start of 2025 that are collectively worth up to $5.66 billion.
By Ben Fidler •
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Enhertu, Datroway and other antibody-drug conjugates developed by Daiichi Sankyo have made the company a leader in a competitive field. Hiroyuki Okuzawa is working to keep it that way.
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This website is owned and operated by
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,
a global network that informs, influences and connects the world's technology buyers and sellers.
© 2025 TechTarget, Inc. or its subsidiaries. All rights reserved. An Informa PLC company.
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