(First published: 8.22AM EST)
Shares of Intellia Therapeutics (NASDAQ: NTLA) erased their pre-market gains on Friday. This is despite the fact that the company announced positive interim clinical data from its Phase 1 clinical study for its second systemically delivered investigational CRISPR candidate, NTLA-2002.
However, a down day on Wall Street and a lukewarm reaction to the results from analysts sent the stock lower.
NTLA-2002 is used in the treatment of hereditary angioedema (HAE) – a rare genetic condition that causes swelling under the skin’s surface.
The study indicated that a single 25mg and 75mg dose of NTLA-2002 led to a reduction of 65% and 92%, respectively, in mean plasma kallikrein. A decrease in plasma kallikrein prevents acute attacks of hereditary angioedema.
Moreover, the HAE attacks dropped by 91% in the 25 mg dose cohort through week 16. NTLA-2002 was tolerated well overall at both doses, and Intellia plans to initiate a Phase-2 dose expansion study in the first half of next year.
