Why Gene Editing Stock, Intellia Therapeutics is Running

FILE PHOTO: New York Stock Exchange (NYSE) building after the start of Thursday's trading session in New York

Keep an eye on gene editing stock, Intellia Therapeutics (NTLA).

The stock is gaining momentum after its investigational CRISPR treatment NTLA-2001 received EU Orphan Drug Designation for “transthyretin amyloidosis (ATTR), a rare condition that can impact a number of organs and tissues within the body through the accumulation of misfolded transthyretin (TTR) protein deposits,” as noted in the company’s press release.

“This news is a significant milestone for NTLA-2001 and the ATTR patient community,” added Intellia President and Chief Executive Officer John Leonard, M.D. “We are pleased that the EC recognizes the potential significant benefit of NTLA-2001 in the treatment of patients with this debilitating disease where there is no cure. We look forward to advancing the global development of this genome editing product in collaboration with Regeneron.”

After finding support at $55, the NTLA stock is now up to $80.23.  From here, the stock could challenge its previous 2021 high of $92, near-term.