Why Intellia Therapeutics Stock Jumped This Week
Shares of the gene-editing pioneer Intellia Therapeutics (NASDAQ: NTLA) rose by 17.5% through the first three and a half days of trading this week, according to data provided by S&P Global Market Intelligence. The biotech's stock perked up in response to the Food and Drug Administration's (FDA) clearance of NTLA-2002's Investigational New Drug application as a treatment for hereditary angioedema (HAE).
NTLA-2002 is an in vivo genome-editing candidate designed to inactivate the gene underlying HAE attacks. HAE is a rare, yet life-threatening inherited condition characterized by swelling of various parts of the body, hands, feet, or face. There are currently eight medications approved by the FDA to prevent and/or treat HAE attacks. NTLA-2002, however, could be the first genetic medicine for this indication (depending on its ongoing clinical trials).
NTLA-2002 is the first in vivo gene-editing treatment to get clearance for human trials in the United States. The company plans on using this historic green light to advance the therapy into phase 2 testing.
Source Fool.com
