Genetics Stocks Get A Boost On Intellia Update For Gene-Editing Drugs

Daily Updates


Intellia Therapeutics (NTLA) offered an update Thursday for its gene-editing programs, helping boost fellow genetics stocks Crispr Therapeutics (CRSP) and Editas Medicine (EDIT).




X



In the second half of 2021, Intellia expects to ask the Food and Drug Administration for permission to begin human testing of a hereditary angioedema treatment. Hereditary angioedema is a swelling disorder. By midyear, it also expects to ask permission to begin testing a cancer drug.

The news broadly sent genetics stocks higher.

In afternoon trading on today’s stock market, Intellia stock surged 12.3%. Shares of Crispr and Editas also jumped a respective 14.5% and 8.3%. Fellow genetics stocks Beam Therapeutics (BEAM) and Fate Therapeutics (FATE) also ramped up 13.3% and 14%, respectively.

Genetics Stocks Ramp Up

Genetics stocks Intellia, Crispr and Editas are testing out methods of using CRISPR gene editing to either create new treatments or permanently edit human genes.

Intellia’s most advanced drug is a treatment for transthyretin amyloidosis, a disease in which protein builds abnormally on organs. This causes systemic problems. The genetics stock is enrolling patients in a Phase 1 study of that drug.

It expects to offer some guidance later this year on when it will have the results of that study.

The company is also working on a treatment for acute myeloid leukemia and expects to ask the FDA for permission to begin testing in people in mid-2021. It will follow by asking for permission to test its hereditary angioedema drug in people in the second half of the year.

Further, the genetics stock said it will announce one more drug development effort in 2021.

Gene-Editing Stocks Pop

This isn’t the first time news for one gene-editing stock sent the entire universe up broadly. Last month, comments from ARK Invest Chief Executive Catherine Wood to Bloomberg helped bolster genetics stocks.

The ARK Innovation ETF (ARKK) is deeply invested in genetics stocks. Crispr — the biotech stock — was its fifth biggest asset as of Sept. 30.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

YOU MAY ALSO LIKE:

Medical Stock Mashup: PerkinElmer, Oxford Unite In $591 Million Deal

This Small Gene Therapy Stock Is Taking On Giants Regeneron, Roche

Find Today’s Best Growth Stocks To Watch With IBD 50

How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks

Run Custom Stock Screens With MarketSmith





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *