So basically your argument is we have this wonder cure (that may not even work, who knows?) that involves modifying the building blocks of life (which we barely understand) and we should just release it into the wild because "won't somebody, please, think of the children!"
Think The Simpsons did an episode on this involving gorillas and snakes or something.
Oh, and anyone who thinks that it's maybe is a good idea to study this irreversible idea a bit beforehand should be brought up on charges of Crimes Against Humanity.
And the thalidomide incident lead to the total rethinking on how drugs were approved throughout the world so the fact that it was or wasn't approved by the FDA is totally irrelevant to the discussion at hand, it was the catalyst of change that keeps people from willy-nilly releasing genetically modified insects into the wild today.
As far as I can tell they are actively working on this idea with test releases in Florida (on non-native mosquitoes) so it's not like anyone is trying to kill this idea as you imply. Ok, to be fair, some people are trying to kill this idea but that hasn't stopped them from releasing genetically modified mutants into the wild.