Intellia surges on promising early-stage data for gene editing therapy

INTELLIA THERAPEUTICS

18/11/2024 13:28

** Intellia Therapeutics' shares  NTLA.O  surge 12.7% to
$15.75 premarket
    ** On Saturday, co reported promising early-stage results
from gene editing therapy for a rare disease called
transthyretin amyloidosis
    ** In the disease, mutations in the TTR gene lead to
production of abnormal transthyretin protein, which on building
up cause serious complications in multiple tissues, including
heart, nerves and digestive system
    ** Therapy works by inactivating the gene and data shows
therapy helped durable reduction in transthyretin protein, which
helped stabilize or reduce disease progression
    ** Co currently conducting late-stage study for patients
with transthyretin amyloidosis with cardiomyopathy, a type of
the disease where heart muscles stiffen and weaken
    ** This data provides positive momentum to late-stage study,
says brokerage William Blair
    ** 23 of 29 brokerages rate the stock "buy" or higher, 6
"hold"; their median PT is $57 - LSEG
    ** As of last close, stock had fallen 54% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com;))