Why Editas Medicine Stock Is Jumping Today
Shares of Editas Medicine (NASDAQ: EDIT) were jumping 7% as of 11:53 a.m. EDT on Monday after rising as much as 20.2% earlier in the day. The gain came after another CRISPR-focused biotech, Intellia Therapeutics (NASDAQ: NTLA), announced encouraging interim data over the weekend from a phase 1 study of NTLA-2001 in treating rare genetic disease transthyretin (TTR) amyloidosis.
Sympathy moves among biotech stocks happen fairly often. Investors view good news for one company as potentially good news for other companies with similar products in development.
In this case, Intellia's interim results were the first to show safety and efficacy for an in vivo (in the body) CRISPR gene-editing therapy NTLA-2001 in humans. Why might this be viewed as good news for Editas?
Source Fool.com
