Why Editas Medicine Stock Is Jumping 13.9% This Week
Shares of Editas Medicine (NASDAQ: EDIT) were up 13.9% this week as of the market close on Thursday. Most of this big gain came after a key announcement from the company on Wednesday about its phase 1/2 clinical study evaluating EDIT-101.
Editas said that an Independent Data Monitoring Committee (IDMC) gave a thumbs-up to enroll children with the rare genetic eye disorder Leber congenital amaurosis 10 (LCA10) in two pediatric cohorts of the study.
It's not surprising that the biotech stock spiked after the news. The IDMC endorsement is huge in that it appears to confirm an encouraging safety profile for EDIT-101, the company's lead pipeline candidate. If there were any serious reservations about the safety of the experimental gene-editing therapy, the IDMC wouldn't have cleared the way for children to be included in Editas' clinical trial.
Source Fool.com
