Shares of genome editing company Intellia Therapeutics (NASDAQ:NTLA) are on the rise today after it announced updated interim data from the Phase1 part of a Phase1/2 study evaluating NTLA-2002 for the treatment of hereditary angioedema (HAE).
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The data (cut-off date of February 17, 2023) shows a durable elimination of HAE attacks in subjects after a single dose. Additionally, the earliest-dosed subjects have been attack-free for nearly a year or more. Moreover, the attack rate reduction has been seen to be consistent in subjects with the most severe symptoms as well.
Impressively, the therapy demonstrated a 95% mean reduction in the monthly attack rate and was observed to be well tolerated.
Consequently, Intellia believes NTLA-2002 could be a possible functional cure for HAE and the Phase 2 part of the study has already initiated patient dosing. The company expects enrollments in the study to be completed in the second half of 2023.
Overall, the Street has a $79.92 consensus price target on NTLA alongside a Strong Buy consensus rating.
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