CRISPR Therapeutics Inc. /zigman2/quotes/201181046/composite CRSP -1.31% and Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite VRTX +0.14% said Tuesday that the Food and Drug Administration granted a rolling review to the exagamglogene autotemcel, the therapy the companies are developing to treat sickle cell disease and transfusion-dependent beta thalassemia. CRISPR's stock was up 3.1% in premarket trading on Tuesday, while Vertex shares gained 1.1%. Vertex said it plans to a submit an application to the FDA in November, with plans to complete the submission in the first quarter of next year. "We continue to work with urgency to bring forward the first CRISPR therapy for a genetic disease," Nia Tatsis, Vertex's chief regulatory and quality office, said in a news release. CRISPR's stock is down 19.3%, while Vertex's stock has jumped 26.0% this year. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.80% has declined 23.3% so far in 2022.