Beam Therapeutics rises after FDA clears genetic disorder drug application

Beam Therapeutics

28/03/2025 12:59

** Biotech firm Beam Therapeutics' BEAM.O shares rise 5.6% to $23.43 premarket

** BEAM said late on Thursday that the U.S. FDA has cleared its marketing application for its experimental drug, BEAM-302, to treat a type of genetic disorder called alpha-1 antitrypsin deficiency (AATD)

** AATD is a rare genetic disorder associated with a considerable burden of lung and liver disease, and for which there are no currently approved curative treatments, co says

     ** Brokerage BofA Global Research says data from the drug's clinical trial, though early-stage, is "potentially practice-changing"

** Brokerage remains positive on the market for AATD with more than $5 billion unadjusted peak sales

** Thirteen of 17 brokerages rate the stock "buy" or higher, 4 "hold"

** As of last close, BEAM has fallen ~35% in the past 12 months

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))