Why Is Intellia Therapeutics Stock Trading Higher Today?

Intellia Therapeutics NTLA shares are trading higher on Thursday after the company announced that the FDA cleared its Investigational New Drug application for NTLA-2002 for the treatment of hereditary angioedema.

NTLA-2002 is a potential treatment for hereditary angioedema (HAE) that uses CRISPR-based technology to permanently reduce plasma kallikrein protein activity and prevent attacks after a single-dose treatment.

Intellia's multi-national Phase 1/2 study is evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics of NTLA-2002 in adults with Type I or Type II HAE. This includes the measurement of plasma kallikrein protein levels and clinical activity as determined by HAE attack rate measures.

"The FDA's acceptance of our IND application to initiate clinical evaluation of NTLA-2002 brings us one step closer to introducing a potentially paradigm-shifting treatment for people living with hereditary angioedema," said Intellia President and Chief Executive Officer John Leonard, M.D.

"The NTLA-2002 IND clearance marks an important milestone for Intellia as we continue our track record of execution as the leader in the genome editing field.”

Intellia Therapeutics, a leading clinical-stage genome editing company, is developing novel, potentially curative therapeutics using CRISPR/Cas9 technology.

NTLA Price Action: Intellia Therapeutics has a 52-week high of $92.98 and a 52-week low of $32.44.

Intellia Therapeutics shares are up 9.52% at $44.63 at the time of publication, according to Benzinga Pro.